Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,187,468,000, a decrease of 6.1% from RMB 1,264,073,000 in 2022[2] - Gross profit for the same period was RMB 901,016,000, down 12.3% from RMB 1,027,659,000 in the previous year[2] - The loss attributable to equity holders of the parent company was RMB 1,301,005,000, representing a significant increase of 307.1% compared to a loss of RMB 319,601,000 in 2022[2] - The company reported a total comprehensive loss of RMB 1,950,241,000 for the year, compared to RMB 230,630,000 in 2022[4] - The basic loss per share for the year was RMB (1.07), compared to RMB (0.27) in 2022[4] - The company reported a pre-tax loss of RMB 2,270,645,000 for 2023, compared to a loss of RMB 434,165,000 in 2022, indicating a substantial increase in losses[35] - The company reported a net foreign exchange gain of RMB 662,000 in 2023, compared to no gain in 2022[29] - The company reported a basic and diluted loss per share of RMB (1,301,005) thousand for 2023, compared to RMB (319,601) thousand for 2022, with a weighted average number of ordinary shares outstanding of 1,211,062,599 for 2023[38] - The company reported a gross profit for 2023 of RMB 901 million, down RMB 126.6 million or 12.3% from RMB 1,027.7 million in 2022, with a gross margin of 75.9%, down 5.4% from 81.3% in 2022[81] Assets and Liabilities - Non-current assets totaled RMB 4,779,059,000 as of December 31, 2023, down from RMB 6,327,083,000 in 2022[5] - Current assets amounted to RMB 2,482,936,000, a slight decrease from RMB 2,548,703,000 in the previous year[6] - Current liabilities increased to RMB 2,601,899,000 from RMB 2,249,797,000 in 2022[6] - The company's net asset value was RMB 3,889,577,000, down from RMB 5,860,907,000 in the previous year[6] - As of December 31, 2023, the group recorded a net current liability of RMB 118,963,000, compared to a net current asset of RMB 298,906,000 in 2022[12] - Total financial liabilities as of December 31, 2023, were RMB 1,795.6 million, an increase of RMB 396.9 million or 28.4% from RMB 1,398.7 million as of December 31, 2022, primarily due to increased bank borrowings[97] - The company's debt-to-equity ratio as of December 31, 2023, was 46.2%, an increase of 22.3% from 23.9% as of December 31, 2022, mainly due to the rise in bank loan balances[97] Revenue Sources - Revenue from vaccine sales and R&D services was RMB 1,187,468 thousand, with revenue recognized at a point in time[26] - Vaccine sales for the year ended December 31, 2023, amounted to RMB 15,803,000, a decrease from RMB 17,822,000 in 2022, representing a decline of approximately 11.4%[27] - Other income and gains related to government subsidies totaled RMB 51,658,000 for 2023, compared to RMB 49,637,000 in 2022, reflecting an increase of about 4.1%[29] - Bank interest income remained stable at RMB 10,707,000 in 2023, slightly up from RMB 10,694,000 in 2022[29] Research and Development - The company has 21 vaccine products in the pipeline, covering the top ten vaccine varieties globally, with 14 clinical approvals obtained[46] - Five vaccine products are in the final stages of Phase III clinical trials, with production facilities nearly completed and preparations for market launch underway[46] - The company is expected to register three products and submit clinical applications for seven products in 2024[46] - Research and development expenses for 2023 were RMB 636.4 million, an increase of RMB 136.1 million or 27.2% from RMB 500.3 million in 2022, driven by progress in various R&D pipelines[84] Production and Quality Control - The company maintains a 100% pass rate in quality audits for its recombinant hepatitis B vaccine series since approval, indicating strong product reliability[50] - The freeze-dried rabies vaccine (Vero cells) has held a leading market position, being the second-largest supplier in the rabies vaccine market, with a consistent 100% pass rate in quality audits since commercialization in 2007[51] - The production capacity of the certified factories includes 25 million doses for rabies vaccine, 45 million doses for recombinant hepatitis B vaccine, 5.3 million doses for inactivated hepatitis A vaccine, and 16 million doses for combined vaccines[69] Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by 2025[117] - The company has established an international business department to accelerate its global market expansion, with registration work for products already initiated in Southeast Asia, Africa, South America, and the Middle East[77] - The company is rapidly advancing the development of a 13-valent pneumonia conjugate vaccine and a quadrivalent combined meningitis vaccine, both of which are high-priority products for international certification[77] Financial Management and Governance - The company has established an audit committee in accordance with listing rules and corporate governance codes[110] - The company did not declare or pay any dividends for the year ended December 31, 2023[110] - The company plans to issue up to 242,212,519 non-listed RMB ordinary shares to enhance its competitive strength and promote healthy business development[109]
艾美疫苗(06660) - 2023 - 年度业绩