Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 811,630,000, a decrease of 9.8% compared to HKD 899,359,000 for the same period in 2023[2] - Profit for the period was HKD 157,440,000, down 7.3% from HKD 169,811,000 in the previous year[2] - Gross profit margin decreased to 89.3% from 90.1% year-on-year[2] - Net profit margin was 19.4%, compared to 18.9% in the same period last year[2] - The total comprehensive income for the period was HKD 94,632,000, down from HKD 169,811,000, indicating a decline of 44.3%[9] - The profit before tax for the six months ended June 30, 2024, was HKD 197,380,000, slightly down from HKD 204,855,000 in the previous year, a decrease of 3.6%[10] - The company reported a net profit attributable to shareholders of HKD 157,440,000 for the six months ended June 30, 2024, down from HKD 169,811,000 in 2023, reflecting a decrease of approximately 7%[28] - Basic earnings per share for the six months ended June 30, 2024, was HKD 0.27, compared to HKD 0.30 for the same period in 2023, indicating a decline of about 10%[28] Assets and Liabilities - Total assets increased by 4.9% to HKD 2,965,806,000 from HKD 2,827,558,000[3] - Total liabilities rose by 5.2% to HKD 950,326,000 from HKD 903,781,000[3] - Cash and cash equivalents increased by 17.4% to HKD 598,414,000 from HKD 509,845,000[3] - The current ratio improved to 1.68 from 1.54[4] - As of June 30, 2024, the net current assets increased to HKD 563,430,000 from HKD 434,533,000 as of December 31, 2023, representing a growth of 29.6%[8] - Total assets less current liabilities rose to HKD 2,141,602,000, up from HKD 2,016,814,000, indicating an increase of 6.2%[8] - The total liabilities increased to HKD 950,326,000 from HKD 903,781,000, reflecting a rise of 5.1%[8] - The net asset value reached HKD 2,015,480,000, compared to HKD 1,923,777,000, marking an increase of 4.8%[8] Cash Flow - Operating cash flow for the six months ended June 30, 2024, was HKD 161,833,000, compared to HKD 140,978,000 for the same period in 2023, showing a growth of 14.8%[10] - The net cash used in investing activities was HKD 40.82 million, a significant improvement from HKD 106.80 million in the same period last year[11] - The company reported a net cash inflow from financing activities of HKD 5.95 million, contrasting with a net outflow of HKD 71.62 million in the prior year[11] - The cash flow from operating activities was not detailed, but the overall cash position improved significantly due to better management of cash inflows and outflows[11] Dividends - The company declared an interim dividend of HKD 0.06 per share, up from HKD 0.045 per share in the previous year[2] - The company paid dividends amounting to HKD 25,539,000 during the period[9] - The board declared an interim dividend of HKD 0.06 per share for the six months ending June 30, 2024, compared to HKD 0.045 for the same period in 2023[101] Research and Development - Research and development costs recognized as expenses were HKD 12,479,000 in 2024, down from HKD 20,250,000 in 2023, reflecting a reduction of about 38%[24] - The company has a pipeline of 16 R&D projects, with 4 ophthalmology projects currently in clinical stages, which are seen as mid-term growth drivers[67] - The company has initiated a five-year R&D plan to enhance its capabilities in the ophthalmology sector, focusing on therapies that meet unmet clinical needs[65] Market and Product Development - The company continues to focus on the development and sales of biopharmaceuticals, with ongoing investments in new product development and market expansion strategies[12] - The company has established strategic collaborations with Antikor Biopharma Limited and Fuhong Hanlin to advance its biopharmaceutical development in oncology and ophthalmology[66] - The group has received NMPA approval for preservative-free single-dose eye drops, expanding its product portfolio[58] - The flagship biopharmaceutical products, Beifu Shu® series and Beifu Ji® series, contributed approximately 86.4% of total revenue, with Beifu Shu® series at 35.4% and Beifu Ji® series at 51.0%[73] Employee and Management - The group had a total of 1,459 full-time employees as of June 30, 2024, a decrease from 1,481 employees as of December 31, 2023[87] - Total employee compensation for the review period was approximately HKD 159.4 million, compared to approximately HKD 173 million in the previous period[87] - The remuneration paid to key management personnel for the six months ended June 30, 2024, was HKD 3,644,000, compared to HKD 3,675,000 for the same period in 2023[55] Corporate Governance - The company has complied with the corporate governance code as per the listing rules throughout the review period[99] - The audit committee reviewed the accounting principles and practices adopted by the group, discussing internal controls and financial reporting matters[100] - All directors confirmed compliance with the standards set forth in the code regarding securities transactions during the review period[103]
亿胜生物科技(01061) - 2024 - 中期业绩