Financial Performance - For the six months ended June 30, 2024, the company recorded revenue of approximately RMB 1,397.11 million, an increase of approximately RMB 91.40 million or 7.00% compared to RMB 1,305.71 million in the same period of 2023[9]. - Profit attributable to ordinary equity holders was approximately RMB 235.28 million, an increase of approximately RMB 30.04 million or 14.64% from RMB 205.24 million in the same period of 2023[9]. - Basic earnings per share for the period were RMB 1.01, compared to RMB 0.86 in the same period of 2023[9]. - The group reported a revenue of approximately RMB 1,397.11 million for the reporting period, an increase of RMB 91.40 million or 7.00% compared to RMB 1,305.71 million in the same period of 2023[38]. - Total comprehensive income for the six months ended June 30, 2024, was RMB 196,737,000, a decrease of 21.2% from RMB 249,563,000 in the same period of 2023[57]. - The profit attributable to equity holders of the parent company increased to RMB 235,283,000, up 14.6% from RMB 205,235,000 year-on-year[57]. - The group’s profit before tax for the six months ended June 30, 2024, was RMB 235,283,000, compared to RMB 205,235,000 for the same period in 2023, representing an increase of approximately 14.6%[84]. Revenue Breakdown - Revenue from the medical beauty and wound care product line was RMB 631.82 million, accounting for 45.22% of total revenue, with a year-on-year growth of 25.53%[11]. - Revenue from ophthalmic products was RMB 449.66 million, accounting for 32.18% of total revenue, showing a decline of 6.15% year-on-year[11]. - Revenue from orthopedic products was RMB 231.82 million, accounting for 16.59% of total revenue, with a slight increase of 0.28% year-on-year[11]. - Revenue from anti-adhesion and hemostatic products was RMB 68.87 million, accounting for 4.93% of total revenue, with a decline of 2.55% year-on-year[11]. - Revenue from the mainland China market was RMB 1,179,576 thousand, an increase of 11.3% from RMB 1,059,733 thousand in the previous year[71]. Research and Development - Research and development expenses for the period were approximately RMB 125.40 million, up by approximately RMB 24.01 million or 23.68% year-on-year, representing 8.98% of total revenue compared to 7.77% in 2023[9]. - The clinical trials for several key R&D projects progressed smoothly during the reporting period, including new high-oxygen contact lens products[12]. - The company continues to focus on the production and sales of bioproducts, medical-grade hyaluronic acid, and artificial lenses, with ongoing R&D in biotechnology and pharmaceuticals[70]. - Research and development costs increased to RMB 125,400,000 for the six months ended June 30, 2024, from RMB 101,391,000 in the same period of 2023, reflecting a growth of about 23.7%[78]. Dividends and Shareholder Returns - The board proposed an interim dividend of RMB 0.40 per share (tax included) for the six months ended June 30, 2024, compared to no dividend in the same period of 2023[9]. - The company proposed an interim dividend of RMB 0.40 per ordinary share, totaling RMB 93,192,000, compared to no dividend for the same period in 2023[82]. Market Position and Growth - The market share of the epidermal growth factor product "Kanghesu" was 26.91% in 2023, maintaining the second position in the domestic market[13]. - The company plans to expand the application of its epidermal growth factor product to multiple departments beyond traditional uses, enhancing its market reach[18]. - The Chinese medical aesthetics market is expected to grow by approximately 10% in 2024, with a compound annual growth rate of 10-15% over the next four years[17]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[154]. Cash Flow and Financial Position - Operating cash flow for the six months ended June 30, 2024, was RMB 380,712,000, an increase of 17.1% from RMB 325,038,000 in the same period of 2023[64]. - Cash and cash equivalents as of June 30, 2024, were approximately RMB 924.21 million, an increase of RMB 354.89 million from approximately RMB 569.32 million as of December 31, 2023[51]. - Total current assets as of June 30, 2024, were approximately RMB 3,720.36 million, a decrease of RMB 29.78 million or 0.79% from December 31, 2023[44]. - Total liabilities as of June 30, 2024, were approximately RMB 1,186.37 million, with a debt-to-asset ratio of 16.38%, an increase of 1.07 percentage points from 15.31% as of December 31, 2023[50]. Acquisitions and Investments - The company acquired 51% of Shanghai Shenhao Mijian Technology Development Co., Ltd. for a total consideration of RMB 36.2885 million, completed in June 2024[28]. - The cash outflow from investing activities related to the acquisition of Shenhao Mijian was RMB 16,009,000 after accounting for cash acquired[106]. Corporate Governance and Compliance - The interim financial report was approved by the board on August 16, 2024, and published on the Hong Kong Stock Exchange website[123]. - The company has complied with all applicable code provisions under the Corporate Governance Code during the reporting period[146]. - There were no significant legal proceedings or arbitrations involving the company during the reporting period[150]. Employee Compensation and Incentives - Employee compensation for the reporting period totaled approximately RMB 337.30 million, an increase of RMB 21.77 million from approximately RMB 315.53 million in the same period of 2023[46]. - The company has granted a total of 1,800,000 restricted shares under the 2021 A-share incentive plan, with the first vesting period completed[137]. - Total remuneration for key management personnel amounted to RMB 4,447,000 for the six months ended June 30, 2024, compared to RMB 3,471,000 for the same period in 2023, representing an increase of 28.1%[111].
昊海生物科技(06826) - 2024 - 中期财报