Financial Performance - Tianda Pharmaceuticals reported a revenue of HKD 1.2 billion for the fiscal year 2021, representing a year-on-year increase of 15%[15]. - The company achieved a net profit of HKD 300 million, which is a 20% increase compared to the previous year[15]. - The management has provided guidance for the next fiscal year, projecting a revenue growth of 10% to 15%[15]. - The company reported a gross margin of 60%, maintaining a stable margin compared to the previous year[15]. - The Group recorded consolidated revenue of approximately HK$474.30 million for the Current Financial Year, a decrease from approximately HK$491.50 million in FYE 2020[94]. - Gross profit for the Current Financial Year was approximately HK$259.00 million, down from approximately HK$361.00 million in FYE 2020, resulting in a gross profit margin of 54.6% compared to 73.5% in the previous year[94]. - Loss attributable to owners of the parent was approximately HK$27.10 million, contrasting with a profit of approximately HK$3.10 million in FYE 2020[94]. Market Expansion and Product Development - Tianda Pharmaceuticals plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[15]. - The company is investing HKD 200 million in R&D for new product development, focusing on innovative pharmaceutical solutions[15]. - Tianda Pharmaceuticals aims to launch three new products in the next fiscal year, which are expected to contribute an additional HKD 150 million in revenue[15]. - The company is exploring potential acquisitions to diversify its product offerings and expand its operational capabilities[15]. - The major product, Valsartan capsules, secured first place in the nation's Third Round of Centralized Drug Procurement for a term of three years, which is expected to drive sales growth in hospitals and OTC markets[65]. - The Group is actively pursuing the development of innovative drugs for treating tumors, viral infections, diabetes, and cardiovascular diseases[71]. - The Group plans to actively review merger and acquisition opportunities for promising innovative drugs and healthcare projects to accelerate business growth[91]. Research and Development - The Group has increased its investment in R&D, focusing on innovative drugs and medical technologies, while also enhancing product development and introduction[61]. - The new R&D and production base in Jinwan District of Zhuhai is set to be completed and operational within this year, aiming to meet international quality control standards[65]. - R&D expenses increased significantly from approximately HK$1.50 million in FYE 2020 to approximately HK$11.80 million in the Current Financial Year[104]. - The Group's R&D team has made steady progress, including the development of new products and collaboration in response to market demands[86]. - The Group continues to promote the R&D of Classic Ancient Prescription Chinese medicine compound preparations and has initiated the development of new drug formulations[90]. Corporate Governance - The company has established an audit committee, nomination committee, remuneration committee, and risk management committee, with a majority of independent non-executive directors (INEDs) in each[145]. - The Board regularly reviews the financial and operating performance of the Group to ensure effective governance[132]. - The company received annual confirmations of independence from three independent non-executive directors as per listing rules[129]. - The Board has established procedures for directors to seek independent professional advice at the company's expense[132]. - The company’s policies and practices on corporate governance are regularly reviewed and updated by the Board[134]. - The Board has reviewed the effectiveness of the risk management and internal control systems during the fiscal year 2021[197]. - The Company has established an internal audit department to assess its risk management and internal control systems[189]. Community and Sustainability - The company is committed to community services, including healthcare, education, and environmental protection initiatives[33]. - The company has received several awards for its Chinese medicine services and sustainable business practices, including the Outstanding Awards 2021 and the Greater Bay Area Sustainable Business Award[17]. Employee and Management - The Group employed approximately 650 employees as of March 31, 2021, maintaining a stable workforce[114]. - The Board has reviewed the resources, qualifications, experience, training programs, and budget of the Group's accounting and financial reporting functions as adequate[200]. - The company has a board diversity policy aimed at enhancing board effectiveness and corporate governance[160].
天大药业(00455) - 2021 - 年度财报