Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 1,119,679,000, an increase of approximately 12.7% compared to RMB 993,528,000 for the same period in 2022[2] - Profit attributable to equity shareholders for the six months ended June 30, 2023, was RMB 347,894,000, representing an increase of approximately 17.2% from RMB 296,729,000 in the prior year[2] - Basic and diluted earnings per share for the six months ended June 30, 2023, were approximately RMB 0.4408 and RMB 0.4367, respectively, reflecting increases of about 17.8% and 17.0% compared to RMB 0.3743 and RMB 0.3733 in 2022[2] - The company reported a total comprehensive income of RMB 347,793,000 for the six months ended June 30, 2023, compared to RMB 295,583,000 for the same period in 2022[4] - The company recorded a net profit before tax of RMB 377,605,000 for the six months ended June 30, 2023, compared to RMB 309,517,000 in 2022, representing an increase of approximately 21.9%[13] - The company's net profit attributable to equity shareholders for the first half of 2023 was RMB 347,894,000, a 17.2% increase from RMB 296,729,000 in the same period last year[56] Dividends - The board declared an interim dividend of HKD 0.15 per share for the six months ended June 30, 2023[2] - The company declared an interim dividend of HKD 0.15 per share, totaling RMB 109,068,000, compared to no dividend declared for the same period in 2022[37] - The company announced an interim dividend of HKD 0.15 per share, totaling approximately RMB 109,068,000, expected to be paid on or around September 20, 2023[72] Assets and Liabilities - Total assets as of June 30, 2023, were RMB 3,704,032,000, compared to RMB 3,541,892,000 as of December 31, 2022[6] - Current assets as of June 30, 2023, totaled RMB 3,784,416,000, an increase from RMB 3,622,671,000 at the end of 2022[5] - The net asset value attributable to equity shareholders as of June 30, 2023, was RMB 3,296,266,000, compared to RMB 3,145,139,000 at the end of 2022[6] - The total liabilities for the reporting segments as of June 30, 2023, were RMB 1,346,012,000, compared to RMB 1,346,440,000 as of December 31, 2022, indicating a slight decrease[12] - The total bank financing as of June 30, 2023, was RMB 1,463,060,000, slightly up from RMB 1,459,975,000 as of December 31, 2022[35] - The bank loans outstanding as of June 30, 2023, were RMB 528,012,000, up from RMB 450,521,000 as of December 31, 2022, representing a 17% increase[34] Inventory and Receivables - The total inventory as of June 30, 2023, was RMB 343,463,000, an increase from RMB 276,080,000 as of December 31, 2022, representing a rise of 24.4%[30] - Trade receivables and other receivables totaled RMB 240,813,000 as of June 30, 2023, down from RMB 295,663,000 as of December 31, 2022, indicating a decline of 18.6%[31] - Trade receivables decreased by approximately 26.3% to RMB 191,365,000 compared to RMB 259,562,000 at the end of 2022[58] Costs and Expenses - Research and development costs for the six months ended June 30, 2023, were RMB 47,962,000, slightly down from RMB 49,084,000 in 2022[18] - Distribution costs increased by approximately 10.6% to RMB 362,026,000, attributed to enhanced marketing and academic promotion activities[52] - The total employee cost for the six months ended June 30, 2023, was RMB 217,560,000, compared to RMB 192,163,000 in the same period of 2022[65] Cash and Cash Equivalents - The cash and cash equivalents in mainland China amounted to RMB 2,383,575,000 as of June 30, 2023, up from RMB 2,071,203,000 as of December 31, 2022, showing an increase of 15.1%[32] - Cash and bank balances increased by approximately 7.9% to RMB 2,644,196,000 as of June 30, 2023, compared to RMB 2,450,173,000 at the end of 2022[60] Capital Expenditure and Commitments - The company acquired property, plant, and machinery at a cost of RMB 7,414,000 for the six months ended June 30, 2023, a decrease from RMB 37,459,000 for the same period in 2022[27] - The company had unfulfilled capital commitments for property, machinery, and equipment amounting to RMB 448,952,000 as of June 30, 2023, compared to RMB 450,758,000 as of December 31, 2022[46] Stock and Shareholder Information - The average number of ordinary shares in issue decreased to 789,314,000 as of June 30, 2023, from 792,824,000 as of June 30, 2022[23] - The company exercised a total of 3,237,000 stock options during the six months ended June 30, 2023, raising RMB 11,335,000, compared to 866,000 options exercised in the same period of 2022[40] - The company issued a total of 3,237,320 shares due to employee stock options exercised, compared to 866,608 shares in the same period of 2022, with a total consideration of approximately HKD 12,744,000 (approximately RMB 11,335,000)[64] Compliance and Governance - The company maintained compliance with all financial covenants related to drawn loans as of June 30, 2023, with no violations reported[35] - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial information[77] - All directors complied with the standard code regarding securities trading during the six months ended June 30, 2023[75] Market Position and Strategy - The company ranked 22nd in the "2022 China Traditional Chinese Medicine Enterprises TOP 100" list, an improvement of 7 positions from the previous year[71] - The company aims to leverage opportunities in the post-pandemic era by enhancing product collaboration and integration across various channels and sectors[71] - The management is focused on addressing operational risks, financial risks, and compliance risks while adapting to recent developments in national policies affecting the pharmaceutical industry[67]
康臣药业(01681) - 2023 - 中期业绩