Financial Performance - The group recorded a revenue of RMB 2,398,680,000 for the six months ended June 30, 2023, representing a 32.1% increase compared to the same period last year[2]. - Net profit for the period was RMB 491,465,000, reflecting a 48.4% increase year-on-year[2]. - Earnings per share rose to RMB 0.65, an increase of 47.7% compared to the same period last year[2]. - The gross profit margin improved to 75.2%, up from 73.0% in the previous year[2]. - The group achieved a revenue increase of 32.1% in the first six months of 2023, with injection products generating RMB 957,253,000, up 37.3%[18]. - The net profit attributable to the company's owners for the six months ended June 30, 2023, was RMB 491,465,000, representing a 48.4% increase from RMB 331,123,000 in the same period of 2022[46]. - Revenue for the first half of 2023 reached RMB 2,398,680,000, up from RMB 1,815,194,000 in the same period of 2022, reflecting a significant growth in sales[33]. Sales Performance - Sales of essential medicines included in the national essential drug list increased by 57.0% to RMB 928,912,000, accounting for 38.7% of total sales[5]. - Prescription drug sales grew by 27.2%, with a total sales amount of RMB 2,056,849,000, representing 85.7% of total sales[7]. - Oral product sales increased by 28.9%, driven by exclusive oral products such as specific capsules and granules[4]. - The sales of traditional Chinese medicine formula granules increased significantly by 34.0%, accounting for 26.2% of the total sales of the company[9]. - The sales revenue of respiratory prescription drugs surged by 82.0%, reaching RMB 512,898,000, which represents 21.4% of the company's overall sales[10]. - The sales of the Qingkailing injection reached RMB 400,632,000, up 92.8%, contributing 16.7% to the total sales[10]. - The overall sales of the company's injectable products rose by 37.3%, with significant growth in cardiovascular injectable drugs, which increased by 13.3% to RMB 498,150,000[11]. - The sales of the company's OTC products grew by 72.6%, with the Huoxiang Zhengqi soft capsule and Qingkailing soft capsule increasing by 110.8% and 54.6%, respectively[13]. Cost and Expenses - The overall sales and distribution costs increased by only 24.3%, while administrative expenses rose by 8.1%, contributing to an increase in net profit margin from 18.2% to 20.5%[3]. - The sales cost for the first six months of 2023 was RMB 594,723,000, representing 24.8% of the total revenue[19]. - The sales and distribution costs increased by 24.3% year-on-year, accounting for 42.7% of total revenue, down from 45.4% in the previous year[25]. - Administrative expenses rose by approximately 8.1% year-on-year, representing 5.8% of total revenue, compared to 7.0% in the same period last year[26]. - Research and development costs accounted for 2.0% of total revenue in the first half of 2023, up from 1.6% in the same period of 2022[27]. Dividends and Equity - The group declared an interim dividend of RMB 0.11 per share for the fiscal year 2023[2]. - The company declared an interim dividend of RMB 0.31 per share for 2023, compared to RMB 0.21 per share for 2022, reflecting a 47.6% increase[46]. - The company’s total equity as of June 30, 2023, was RMB 6,639,817,000, an increase of 4.0% from RMB 6,382,526,000 at the end of 2022[36]. Government Support and Grants - The group received government subsidies amounting to RMB 8,812,000, an increase from RMB 7,634,000 in the previous year[21]. - The company received government grants totaling RMB 8,812,000 during the period, compared to RMB 7,634,000 in the previous year[44]. Research and Development - The group is currently conducting clinical trials for three exclusive innovative drugs, including "Sailuotong Capsules" in Phase III trials[15]. - The group submitted new drug applications for two ancient classic formulas, "Shaoyao Gancao Decoction Granules" and "Yiguan Decoction Granules" during the reporting period[16]. - The group plans to accelerate the registration applications for multiple classic formulas by the end of 2023[16]. Market Development - The company has completed the listing of traditional Chinese medicine formula granules in 13 provinces and municipalities, with plans to accelerate market development in key regions[9]. - The company aims to enhance its exclusive oral prescription products through evidence-based medical research and increased academic promotion[12]. - The company has successfully bid for multiple traditional Chinese medicine injections in national and provincial centralized procurement, indicating a recovery in demand[12]. - The company is positioned to benefit from the aging population, which is expected to increase the demand for cardiovascular injectable drugs[12]. Financial Position - As of June 30, 2023, the company had cash and bank balances of approximately RMB 5,364,576,000, an increase from RMB 5,046,495,000 at the end of 2022[29]. - The impairment losses on financial assets increased to RMB 6,236,000 in the first half of 2023, compared to a reversal of RMB 1,443,000 in the same period of 2022[33]. - Trade receivables, net of expected credit loss provisions, increased to RMB 759,323,000 as of June 30, 2023, compared to RMB 673,380,000 as of December 31, 2022[51]. - Trade payables amounted to RMB 387,013,000 as of June 30, 2023, up from RMB 308,745,000 as of December 31, 2022[55]. - The total amount of notes received was RMB 451,773,000 as of June 30, 2023, compared to RMB 301,682,000 as of December 31, 2022[53]. Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules, with a noted deviation regarding the separation of roles between the Chairman and the CEO, which is currently held by the same individual[67]. - The audit committee has reviewed the accounting principles and policies adopted by the group for the six months ended June 30, 2023[69]. - The interim report for the six months ended June 30, 2023, will be distributed to shareholders and published on the Hong Kong Stock Exchange website and the company's website[69].
神威药业(02877) - 2023 - 中期业绩