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[1] - Gross profit for the period was HKD 724,612,000, down from HKD 810,462,000, reflecting a decline of 10.6%[1] - The company reported a net profit of HKD 157,440,000, compared to HKD 169,811,000 in the previous year, representing a decrease of 7.3%[1] - Basic earnings per share for the period were HKD 0.2774, down from HKD 0.2972, a decrease of 6.6%[1] - The company’s total comprehensive income for the period was HKD 94,632,000, down from HKD 169,811,000 in the previous year, representing a decline of about 44.3%[3] - Profit for the period decreased by 7.3% to approximately HKD 157.4 million, down from approximately HKD 169.8 million in the previous year[62] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 2,965,806,000, up from HKD 2,827,558,000 at the end of 2023, indicating a growth of 4.9%[2] - Current assets increased to HKD 1,387,634,000 from HKD 1,245,277,000, reflecting an increase of 11.4%[2] - The company's total liabilities rose to HKD 950,326,000 from HKD 903,781,000, an increase of 5.2%[2] - The net asset value increased to HKD 2,015,480,000 from HKD 1,923,777,000, showing a growth of 4.8%[2] Cash Flow and Financing - Cash generated from operating activities before tax was HKD 197,380,000, down from HKD 204,855,000 in the previous year, indicating a decline of about 3.5%[4] - The company experienced a significant increase in cash flow from operating activities, amounting to HKD 161,833,000, compared to HKD 140,978,000 in the prior year, reflecting an increase of approximately 14.8%[4] - The company’s cash flow from financing activities showed a net outflow of HKD 30,169,000, compared to an inflow of HKD 14,028,000 in the previous year, indicating a shift in financing strategy[4] - The net cash flow from financing activities for the six months ended June 30, 2024, was HKD 96,789,000, with cash and cash equivalents increasing to HKD 598,414,000[5] Revenue Segmentation - For the six months ended June 30, 2024, the total revenue from external customers was HKD 811,630,000, with ophthalmology contributing HKD 375,560,000 and surgery contributing HKD 436,070,000[10] - Revenue from the ophthalmology segment contributed approximately HKD 375.5 million, a decrease of 1.6%, while the surgical segment recorded revenue of approximately HKD 436.1 million, a decrease of 15.8%[62] - The flagship biopharmaceutical products, Beifu Shu® and Beifu Ji®, accounted for approximately 86.4% of total revenue, with Beifu Shu® contributing 35.4% and Beifu Ji® contributing 51.0%[62] 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, showing a decrease of 38.5%[20] - The company has initiated a five-year R&D plan starting from 2021 to enhance its capabilities in the ophthalmology field, focusing on growth factors, antibodies, and drug formulation technologies[58] - As of June 30, 2024, the company has a pipeline of 5 commercially available preservative-free single-dose eye drops, with plans to commercialize additional products in the next 2 to 5 years[58] Market Expansion and Strategy - The company plans to continue its market expansion and product development strategies, although specific figures were not disclosed in the current report[3] - The company has a strong focus on expanding its market presence in lower-tier cities in China and Southeast Asia[57] - The group is strategically expanding into new therapeutic areas such as oncology, orthopedics, and neurology through strategic investments[52] Shareholder Information - The company declared an interim dividend of HKD 0.06 per share for the six months ended June 30, 2024, up from HKD 0.045 per share in 2023, an increase of 33.3%[22] - The total number of shares repurchased was 35,000, with a maximum price of HKD 2.45 per share during January 2024[82] - As of June 30, 2024, the company’s major shareholder, Yan Mingchi, holds 153,945,667 shares, representing approximately 27.13% of the issued share capital[78] Legal and Compliance - The company is involved in a legal dispute with Guangxi Wanshoutang Pharmaceutical Co., which it firmly denies, and is seeking professional legal advice[61] - The company has complied with the corporate governance code as per the listing rules throughout the review period[82] - All directors confirmed compliance with the securities trading regulations during the six-month period ending June 30, 2024[86]
亿胜生物科技(01061) - 2024 - 中期财报