Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 2,828,657, representing a 4.5% increase from RMB 2,706,246 in the same period of 2023[7]. - Gross profit for the same period was RMB 999,274, with a gross profit margin of 35.3%, slightly down from 35.4% in 2023[7]. - Profit attributable to equity holders of the parent surged to RMB 663,684, a significant increase of 438.1% compared to RMB 123,349 in 2023[7]. - The Group achieved sales revenue of RMB 2,828.7 million, a year-on-year increase of 4.5% compared to RMB 2,706.2 million in the same period last year[12]. - Gross profit for the Group was RMB 999.3 million, representing a 4.2% increase from RMB 959.0 million year-on-year, with a gross profit margin of 35.3%[12]. - Profit before tax increased significantly to RMB 767.6 million, compared to RMB 167.7 million in the prior year, marking a growth of 357.5%[103]. - Profit for the period reached RMB 662.8 million, up from RMB 122.4 million, reflecting a year-over-year increase of 441.5%[103]. - Basic earnings per share attributable to ordinary equity holders of the parent was RMB 0.45, compared to RMB 0.08 in the same period last year[103]. Cash Flow and Liquidity - Cash and cash equivalents rose to RMB 2,202,718, reflecting a 24.8% increase from RMB 1,765,645 in the previous year[7]. - Net cash flows generated from operating activities amounted to RMB 1,294,842, a recovery from a cash outflow of RMB (542,752) in 2023[7]. - The Group achieved a net operating cash inflow of RMB 1,294.8 million during the Reporting Period, representing an increase of 338.6% year-on-year[11]. - The Group's operating cash flow net inflow was RMB 1,294.8 million, a year-on-year increase of 338.6%[13]. - The net increase in cash and cash equivalents for the first half of 2024 was RMB 426,081, compared to RMB 84,888 in the same period last year[120]. - The Group's liquidity remains strong, with primary funding sourced from ordinary business operations[54]. Market and Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product portfolio through new product development and technology advancements[7]. - Future outlook includes strategic initiatives aimed at increasing operational efficiency and market share in the pharmaceutical sector[7]. - The company is exploring potential mergers and acquisitions to bolster its growth strategy and enhance competitive positioning[7]. - The Group actively strengthened its commercial and operational capabilities in the United States and Europe to enhance global market share[11]. - The Group is advancing the commercialization of Fozaprepitant in the U.S. to create new revenue sources[22]. - The Group's investment strategy was adjusted to focus more on core business development, optimizing asset portfolio and rate of return[11]. Research and Development - Continued investment in research and development is prioritized to drive innovation and meet evolving market demands[7]. - Research and development costs for the period were RMB 81,041,000, down 15% from RMB 95,362,000 in the previous year[162]. Shareholder and Corporate Governance - The Board resolved not to declare interim dividends for the six months ended June 30, 2024, consistent with the same period last year, which also had no dividends declared[72]. - The Company has complied with all applicable code provisions in the Corporate Governance Code during the reporting period[90]. - The Company is committed to high standards of corporate governance as per the Corporate Governance Code[90]. Assets and Liabilities - The asset-liability ratio improved to 34.3%, down from 37.6% in the previous year[7]. - The Group's total assets amounted to approximately RMB 18,573.5 million, down from RMB 19,203.4 million as of December 31, 2023[62]. - The Group's total amount of other borrowings increased to RMB 750.0 million as of June 30, 2024, from RMB 556.0 million as of December 31, 2023[71]. - The Group's short-term loans were approximately RMB 2,992.8 million as of June 30, 2024, down from RMB 3,624.6 million as of December 31, 2023[59]. Sales and Revenue Breakdown - For the six months ended June 30, 2024, the total revenue from external customers was RMB 2,828,657,000, with segment revenues of RMB 1,453,516,000 from finished dose pharmaceutical products, RMB 747,599,000 from API, RMB 560,378,000 from CDMO, and RMB 67,164,000 from others[133]. - The finished dose pharmaceutical products segment reported a profit of RMB 454,738,000, while the API segment reported RMB 461,857,000, and the CDMO segment reported RMB 174,560,000[133]. - Revenue from external customers in the United States was RMB 580,353,000, representing an increase from RMB 535,379,000 in the previous period[137]. Employee and Operational Metrics - As of June 30, 2024, the Group had 1,928 employees, with total staff costs approximately RMB 282.6 million, down from RMB 360.5 million in the same period last year[72]. - The Group's credit period with customers generally ranges from one to three months, emphasizing the importance of timely collections[195]. Foreign Exchange and Financial Management - Unrealized foreign exchange losses during the Reporting Period amounted to RMB 31.9 million, with the Group planning to use financial market tools to mitigate foreign exchange risks[53]. - The company recognized a foreign exchange loss of RMB 12,134,000 for the six months ended June 30, 2024, compared to a gain of RMB 126,847,000 for the same period in 2023[158].
海普瑞(09989) - 2024 - 中期财报