Financial Performance - For the six months ended June 30, 2021, the company reported revenue of approximately RMB 461.1 million, an increase of about 68.9% compared to RMB 272.9 million for the same period in 2020[22]. - Gross profit for the same period was RMB 374.4 million, reflecting a growth of 72.5% from RMB 217.1 million year-on-year[22]. - Operating profit increased by 90.1% to RMB 227.6 million, up from RMB 119.8 million in the previous year[22]. - Net profit attributable to the company's owners was approximately RMB 204.4 million, a rise of 106.6% compared to RMB 98.9 million in the prior year[22]. - The basic earnings per share rose to RMB 4.7 cents, representing an increase of 104.3% from RMB 2.3 cents in the same period last year[22]. - Profit before tax reached RMB 231,822 thousand, reflecting a 107.1% increase from RMB 111,492 thousand in the previous year[126]. - Net profit for the period was RMB 200,651 thousand, more than doubling from RMB 96,181 thousand in the same period last year[126]. Revenue Breakdown - Revenue from the structural heart disease business was approximately RMB 159.1 million, a 100.6% increase from RMB 79.3 million in the same period of 2020[36]. - Revenue from the peripheral vascular business was approximately RMB 286.8 million, a 50.0% increase from RMB 191.2 million in the same period of 2020[36]. - Total revenue for the six months ended June 30, 2021, was RMB 461,141,000, with structural heart disease business contributing RMB 159,083,000, peripheral vascular business contributing RMB 286,875,000, and electrophysiology business contributing RMB 15,183,000[141]. Market Presence - Domestic sales accounted for approximately 84.0% of total revenue, up from 81.3% in the previous year, indicating strong market presence in mainland China[27]. - Sales in mainland China increased by approximately 74.6%, attributed to the recovery of economic activities post-COVID-19[27]. - Revenue from the European market accounted for approximately 7.3% of total revenue, down from 10.9% in the same period of 2020[57]. Research and Development - Research and development expenses increased by approximately 31.0% to about RMB 65.0 million for the six months ended June 30, 2021, compared to RMB 49.6 million for the same period in 2020[41]. - The company incurred research and development expenses of RMB 65,021,000 for the six months ended June 30, 2021, as part of its commitment to innovation[141]. Corporate Governance - The group is committed to high standards of corporate governance and has adhered to all significant provisions of the corporate governance code during the six months ended June 30, 2021[77]. - The board consists of six members, including two executive directors and three independent non-executive directors, ensuring compliance with corporate governance standards[78]. - The audit committee, composed of three independent non-executive directors, reviewed the interim results for the six months ending June 30, 2021, confirming compliance with accounting standards and adequate disclosures[83]. Employee and Management - As of June 30, 2021, the group employed 874 full-time employees, an increase from 791 as of December 31, 2020, with total employee costs amounting to RMB 89.8 million, up from RMB 76.2 million in the same period last year[67]. - Total remuneration for key management personnel during the period was RMB 7,044,000, compared to RMB 9,713,000 for the same period in 2020[200]. - The company has established a union to protect employees' legal rights and promote sustainable and healthy development[67]. Investments and Assets - The fair value of the investment in ABG-Grail Limited was approximately RMB 263.0 million as of June 30, 2021, accounting for about 8.5% of the company's total assets[42]. - The company’s non-listed equity investments were valued at RMB 364,955,000 as of June 30, 2021, slightly up from RMB 358,298,000 as of December 31, 2020, marking an increase of about 1.8%[168]. - Total assets as of June 30, 2021, amounted to RMB 3,095,279 thousand, a slight increase from RMB 2,954,549 thousand as of December 31, 2020[147]. Share Option and Incentive Plans - The company adopted a share option scheme on October 22, 2011, revised on May 5, 2015, to align with the main board listing rules[96]. - The share option scheme aims to reward eligible participants for their contributions to the company's development[97]. - The company adopted a share incentive plan on December 28, 2018, which was subsequently revised on April 29, 2019, by unanimous board resolution[108]. Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2021, were approximately RMB 588.2 million, a decrease of about 39.5% from RMB 971.7 million as of December 31, 2020[49]. - Operating cash generated for the six months ended June 30, 2021, was RMB 239,446,000, compared to RMB 126,740,000 for the same period in 2020, representing an increase of 88.8%[132]. - Net cash from operating activities for the six months ended June 30, 2021, was RMB 199,341,000, up from RMB 106,117,000 in 2020, indicating an increase of 87.7%[132]. Future Plans and Strategies - The company plans to continue expanding its market presence and investing in new product development to enhance its competitive edge in the medical device sector[135]. - The group aims to expand its distribution network and develop new products to strengthen its leading position in the interventional medical device industry[74]. - The company is focusing on strategic partnerships within the healthcare industry to enhance its product line and expand its business scale[55].
先健科技(01302) - 2021 - 中期财报