Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 3,111,164, an increase from RMB 2,635,599 in the same period of 2020, representing a growth of 18%[9]. - Gross profit for the period was RMB 976,907, down from RMB 1,085,833 in 2020, resulting in a gross profit margin of 31.4%, compared to 41.2% in the previous year[9]. - Profit for the period was RMB 336,496, a decrease from RMB 579,264 in 2020, indicating a decline of approximately 42%[9]. - Adjusted profit attributable to owners of the parent was RMB 402,907, compared to RMB 577,049 in the same period last year, reflecting a significant decrease[9]. - Profit before tax for the period was RMB 414,818, representing a decline of 40.0% compared to RMB 692,390 in the previous year[110]. - Basic earnings per share attributable to ordinary equity holders was RMB 0.23, down from RMB 0.47 in the prior year[110]. - The total gross profit for the six months ended June 30, 2021, was RMB 976.9 million, compared to RMB 1,085.8 million in the same period last year[46]. - Profit attributable to equity holders of the Company was RMB 338.2 million, down approximately 41.8% from RMB 581.1 million in the same period last year[50]. Assets and Liabilities - Total assets as of June 30, 2021, were RMB 18,977,259, slightly down from RMB 19,025,895 at the end of 2019[10]. - Total liabilities decreased to RMB 7,234,454 from RMB 7,336,905, reflecting a reduction in debt levels[10]. - The asset-liability ratio improved to 38.1% from 38.6%, indicating a stronger financial position[10]. - Cash and cash equivalents increased to RMB 1,845,334 from RMB 1,330,245, showing a growth of approximately 39%[10]. - Total current liabilities as of June 30, 2021, amounted to RMB 3,612,950, slightly up from RMB 3,612,834 on December 31, 2020[116]. - The Group's total financial indebtedness was RMB 5,130.9 million, a decrease of 9.1% from RMB 5,645.1 million as of December 31, 2020[56]. - The Group's bank borrowings were approximately RMB 3,168.0 million as of June 30, 2021, down from RMB 3,675.5 million as of December 31, 2020[58]. Revenue Segmentation - The Group achieved revenue of approximately RMB 3,111.2 million for the six months ended June 30, 2021, representing an increase of approximately 18.0% compared to RMB 2,635.6 million in the same period last year[13]. - The finished dose pharmaceutical products business achieved a gross profit margin of 40.0%[22]. - Sales revenue in non-European and American overseas markets increased by over 400% compared to the same period last year, reaching new highs[26]. - Revenue from the sale of goods increased by RMB 500.4 million to RMB 2,737.6 million, which accounted for 88.0% of total revenue, up from 84.9% in the same period of 2020[41]. - Segment revenue from finished dose pharmaceutical products was RMB 1,128,746,000, while active pharmaceutical ingredients (API) generated RMB 1,534,467,000, contributing significantly to the overall revenue[138]. Cost Management - Selling and distribution expenses decreased by 4.9%, management expenses decreased by 3.4%, and interest expenses decreased by 26.4% compared to the same period last year[13]. - The cost of sales rose by RMB 584.5 million to RMB 2,134.3 million, primarily due to increased costs associated with finished dose pharmaceutical products and APIs[42]. - Finance costs decreased by RMB 47.0 million to RMB 108.4 million, representing a decrease of 30.3% compared to the same period last year[47]. - Interest expenses on bank borrowings decreased to RMB 64,046,000 in the first half of 2021, down from RMB 91,373,000 in the same period of 2020, representing a reduction of approximately 30%[179]. Market Expansion and Product Development - The company is focusing on new product development and market expansion strategies to enhance future growth prospects[9]. - The Group is focused on developing and commercializing innovative drugs, optimizing new drug management, and advancing clinical trials through an efficient platform[35]. - The Group aims to maintain stable core business development and enhance profitability despite global economic challenges[33]. - The Group plans to improve its domestic and overseas market layout to seize opportunities arising from structural adjustments in the pharmaceutical industry[37]. - The Group's CDMO continues to support the supply chain for mRNA COVID-19 vaccines and large-scale production of commercialized mRNA vaccines worldwide[30]. Shareholder and Corporate Governance - The Board does not recommend the distribution of an interim dividend for the six months ended June 30, 2021, consistent with the previous year where no dividend was distributed[62]. - The company has complied with all applicable code provisions in the Corporate Governance Code during the reporting period[100]. - The Group is committed to enhancing corporate governance and management systems to support sustainable business growth[35]. - The company has disclosed substantial shareholders with interests in shares exceeding 5% as required by the SFO[91]. Research and Development - The Group is developing a self-discovered proprietary drug candidate currently at the preclinical stage[12]. - Research and development costs rose to RMB 58,267,000, compared to RMB 34,912,000 in the previous year, marking a 67.5% increase[182]. - The clinical study for enoxaparin sodium in COVID-19 treatment was completed in February 2021, aiming to verify its efficacy in hospitalized patients[26]. Foreign Exchange and Other Income - Unrealized foreign exchange losses during the reporting period amounted to RMB 75.8 million due to fluctuations in international exchange rates[54]. - The Group reported foreign exchange losses of RMB 93,654,000 for the six months ended June 30, 2021, compared to gains of RMB 42,446,000 in the same period of 2020[175]. - Other income for the six months ended June 30, 2021, totaled RMB 87,650,000, an increase of 52.5% compared to RMB 57,460,000 for the same period in 2020[175].
海普瑞(09989) - 2021 - 中期财报