Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 6,906,524 thousand, representing a 33.3% increase from RMB 5,181,925 thousand in the same period of 2022[2] - Profit before interest, tax, depreciation, and amortization (EBITDA) was RMB 1,953,790 thousand, up 71.2% from RMB 1,140,996 thousand year-on-year[2] - Profit attributable to owners of the company reached RMB 1,284,496 thousand, a significant increase of 104.0% compared to RMB 629,517 thousand in the previous year[2] - Basic earnings per share rose to RMB 70.69, reflecting a 104.6% increase from RMB 34.55[2] - The profit before tax for the period was RMB 1,612,155 thousand, reflecting strong operational performance[13] - The total segment profit for the six months ended June 30, 2023, was RMB 919,831 thousand, compared to RMB 826,954 thousand for the same period in 2022, showing a growth of approximately 11.2%[15] - The company reported a net foreign exchange gain of RMB 50,682 thousand for the six months ended June 30, 2023, compared to a loss of RMB 48,568 thousand in the same period of 2022[19] - The income tax expense for the six months ended June 30, 2023, was RMB 327,915,000, up from RMB 197,437,000 in the same period of 2022, reflecting a growth of 66.1%[21] - The financial cost for the company was approximately RMB 38,700,000, representing a year-on-year increase of 77.7%[42] Dividends - The interim dividend per share was declared at RMB 12.0, a 140.0% increase from RMB 5.0 in the prior period[2] - The company declared an interim dividend of RMB 0.12 per share for the six months ended June 30, 2023, totaling RMB 218,043,000, compared to RMB 0.05 per share totaling RMB 90,879,000 for the same period in 2022[26] - The total dividend declared for the year included a final dividend of RMB 0.14 per share and a special dividend of RMB 0.06 per share, totaling RMB 363,405,000 for the six months ended June 30, 2023, compared to RMB 181,757,000 for the same period in 2022[25] Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 13,212,085 thousand, compared to RMB 12,514,946 thousand at the end of 2022[5] - Net current assets increased to RMB 6,148,352 thousand from RMB 5,481,919 thousand at the end of 2022[5] - Non-current liabilities decreased to RMB 1,174,610 thousand from RMB 1,337,167 thousand at the end of 2022[6] - The company's net asset value increased to RMB 11,531,617 thousand from RMB 10,609,431 thousand at the end of 2022[6] - The company's total liabilities decreased to approximately RMB 8,238,300,000 as of June 30, 2023, from RMB 8,370,200,000 as of December 31, 2022[44] Revenue Segmentation - The revenue from intermediates was RMB 2,692,115 thousand, while the revenue from APIs and formulations were RMB 3,849,116 thousand and RMB 2,436,110 thousand respectively, contributing to a total segment revenue of RMB 8,977,341 thousand[14] - The revenue from the Chinese market (including Hong Kong) was RMB 5,544,083 thousand, an increase from RMB 4,129,014 thousand in the previous year, reflecting a growth of approximately 34.4%[16] - Revenue from intermediates, active pharmaceutical ingredients, and formulations was approximately RMB 2,692,100,000, RMB 3,849,100,000, and RMB 2,436,100,000 respectively, with year-on-year increases of 37.2%, 34.6%, and 29.1%[38] - The intermediate and raw materials segment recorded external sales revenue of approximately RMB 1,047,400,000 and RMB 3,423,000,000, representing year-on-year increases of 41.4% and 34.1% respectively[39] - The formulation products segment achieved sales revenue of approximately RMB 2,436,100,000, a year-on-year increase of 29.1%[40] - Antibiotic products, including animal health products, recorded sales revenue of RMB 1,725,000,000, reflecting a year-on-year growth of 50.5%[40] Investments and Expenditures - The total expenditure on property, plant, and equipment for the six months ended June 30, 2023, was approximately RMB 395,085,000, an increase from RMB 281,759,000 in the same period of 2022, marking a rise of 40.3%[27] - The company invested RMB 350,300,000 in drug research and development, marking a year-on-year increase of 44.4%[41] - As of June 30, 2023, the company had capital expenditure commitments of RMB 497,212,000 for property, plant, and equipment[35] Corporate Governance and Management - The board emphasizes strong corporate governance as essential for protecting shareholder interests and enhancing group performance, adhering to the corporate governance code[51] - The company currently does not have a CEO, with plans to appoint one at an appropriate time[52] - The Audit Committee, composed of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2023[53] Future Outlook - The company anticipates a recovery phase in the Chinese economy post-pandemic, with a focus on consolidating core industry advantages and enhancing cost control along the supply chain[49] Legal Matters - The company is involved in a lawsuit against Chengdu Evergrande, seeking to recover approximately RMB 340 million in unpaid receivables and related damages, with the first hearing held on February 21, 2023, and the second on June 6, 2023, currently awaiting a judgment[47] Shareholder Engagement - The board expresses gratitude to shareholders and partners for their support during the first half of 2023, highlighting the contributions of all employees[55]
联邦制药(03933) - 2023 - 中期业绩