Financial Performance - The Group recorded revenue of approximately RMB 608,589,000 for the six months ended 30 June 2021, representing an increase of 24.5% compared to RMB 488,993,000 in the same period of 2020[32]. - Profit attributable to owners of the parent was approximately RMB 166,646,000, reflecting an increase of approximately 28.5% compared to RMB 129,691,000 in the same period of 2020[32]. - The Group experienced a year-on-year revenue and profit growth during the period, reflecting a double-digit percentage increase compared to the same period last year[40][44]. - For the six months ended June 30, 2021, the Group recorded a turnover of approximately RMB 608,589,000, representing an increase of 24.5% compared to RMB 488,993,000 during the corresponding period of last year[81]. - Gross profit was approximately RMB 373,091,000, which increased by RMB 108,355,000 or 40.9% compared to the corresponding period of last year, with a gross profit margin of 61.3%[81]. - The profit attributable to owners of the parent for the six months ended June 30, 2021, was approximately RMB 166,646,000, reflecting an increase of RMB 36,955,000 or 28.5% year-on-year[91]. - Profit before tax increased to RMB 211,082,000, representing a 30.2% rise from RMB 161,905,000 in 2020[167]. - Profit for the period was RMB 165,691,000, a 30% increase compared to RMB 127,552,000 in 2020[171]. - Basic earnings per share for the period was RMB 0.11127, compared to RMB 0.08362 in 2020, reflecting a 33.2% increase[167]. Sales and Product Performance - The increase in profit was mainly due to the rise in sales of main products of finished drugs[32]. - The marketing and sales department expanded product coverage, leading to increased sales volume and revenue in major sectors of finished drugs compared to the previous year[34]. - Major products such as Amlodipine Besylate Tablets and Losartan Potassium Tablets experienced expected growth in sales due to effective use of brand advantages and marketing resources[34]. - Sales volume of the "An" series anti-hypertensive drugs increased by 38.5%, with sales revenue rising by 24.0% compared to the same period in 2020[57][61]. - The Fujian Dawnrays series medicines, primarily for treating hyperlipidemia, saw a sales volume increase of 92.6% and a revenue increase of 85.4% year-on-year[57][61]. - Sales volume of anti-allergic drugs "Xikewei" and "Xikexin" increased by 35.5%, with sales revenue growing by 47.6% compared to the same period last year[57][61]. - The sales volume of Entecavir Dispersible Tablets increased by 95.7%, with a revenue increase of 38.5% year-on-year[57][61]. - Sales of finished drugs amounted to RMB 531,119,000, representing an increase of RMB 149,435,000, or 39.2% compared to the corresponding period of last year[81]. - The sales amount of finished drugs accounted for approximately 87.3% of total sales, representing an increase of 9.2 percentage points compared to last year[81]. Research and Development - The Group is actively progressing with clinical trials for monoclonal antibody agents Ebronucimab (AK102) and A.K109, aimed at treating various conditions[42][45]. - The Group plans to continue investing in production technology and product R&D to strengthen its product structure and profitability foundation[60]. - The Group is engaged in R&D projects covering therapeutic areas including the circulatory system, digestive system, endocrine system, ophthalmology, dermatology, and antiviral drugs[63]. - As of June 30, 2021, the Group conducted quality and efficacy research on 31 varieties, with applications for 6 varieties approved and 10 varieties submitted for consistency evaluation[69]. - The Group is researching 22 new varieties and developing bulk medicines for 14 of them, with 3 submitted for application and 19 under R&D[72]. - The Group established a joint venture, Nanjing PharmaRays, to enhance its R&D capabilities focusing on new drug products using advanced drug delivery systems[67]. Financial Position and Cash Flow - As of June 30, 2021, the Group held cash and bank balances of approximately RMB571,815,000, a decrease from RMB730,986,000 as of December 31, 2020[101]. - The Group recorded net cash flows from operating activities of approximately RMB153,202,000 for the period, compared to RMB138,285,000 in 2020[101]. - The Group's short-term interest-bearing bank borrowings were RMB9,245,000 as of June 30, 2021, with a debt ratio of 0.3%[101]. - The Group's inventory balance was approximately RMB212,780,000 as of June 30, 2021, down from RMB246,028,000 as of December 31, 2020[101]. - The company reported a net decrease in cash and cash equivalents of RMB (78,657,000) for the period, compared to RMB (72,224,000) in the previous year[195]. Corporate Governance and Shareholder Information - The company has complied with the Corporate Governance Code during the six months period ended June 30, 2021[156]. - The Audit Committee reviewed the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2021, before recommending them to the Board for approval[164]. - The record date for determining shareholders' entitlement to the interim dividend is September 24, 2021[164]. - The company has not granted any rights to acquire shares or debentures to any Director during the period[138]. - Ms. Li Kei Ling holds 698,756,000 shares, representing 46.68% of the Company's issued share capital[133]. - Mr. Hung Yung Lai holds 593,264,000 shares, representing 39.63% of the Company's issued share capital[133]. - The company repurchased 8,608,000 shares of its listed securities at an aggregate consideration of HK$11,442,400 before expenses during the six months ended June 30, 2021[150].
东瑞制药(02348) - 2021 - 中期财报