Financial Performance - The group achieved a consolidated net profit attributable to shareholders of RMB 2,835,496,163.51 for the fiscal year 2024, representing an increase from the net profit of RMB 1,114,566,368.85 in 2023[4]. - The company's operating revenue for 2024 was RMB 74,992,820 thousand, a decrease of 0.69% compared to RMB 75,515,404 thousand in 2023[27]. - Net profit attributable to shareholders decreased by 30.09% to RMB 2,835,496 thousand from RMB 4,055,679 thousand in the previous year[27]. - Total profit amounted to RMB 3,607.58 million, reflecting a year-on-year decline of 29.41%[49]. - The company reported a total profit of approximately 3.61 billion for the year ended December 31, 2024, with the largest profit contribution from the pharmaceutical segment at approximately 1.45 billion[140]. - Total comprehensive income for the year ended December 31, 2024, was approximately 3.01 billion, a decrease of 29.1% from 4.25 billion in 2023[135]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.40 per share, totaling RMB 650,316,379.60 based on a total share capital of 1,625,790,949 shares as of December 31, 2024[5]. - The remaining undistributed profits will be carried forward to the next distribution, with no capital reserve fund conversion planned for this year[5]. - The company will submit the profit distribution plan for shareholder approval at the upcoming general meeting[6]. - The company will complete the dividend distribution by the end of August 2025[106]. Audit and Compliance - The financial report for the year ending December 31, 2024, was audited by Da Xin Accounting Firm, which issued a standard unqualified audit opinion[4]. - The company emphasizes the accuracy and completeness of the report, with all board members present at the meeting to discuss the financial results[4]. - The audit committee held four meetings in 2024, with all members in attendance, to review financial reports and internal controls[111]. - The audit committee proposed the reappointment of Da Xin Accounting Firm as the financial audit institution for 2024, confirming its qualifications and independence[116]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules during the reporting period[108]. Business Operations - The company operates 28 pharmaceutical manufacturing entities, including 3 subsidiaries and 23 holding subsidiaries, focusing on the R&D, manufacturing, and sales of traditional Chinese medicine and Western pharmaceuticals[17]. - The company is expanding its healthcare services and medical device investments, with projects including hospitals and maternal care services[22]. - The company is actively pursuing opportunities in the medical device business and exploring layouts in health products[51]. - The company is focusing on expanding its four major business segments: pharmaceutical, health, commercial, and medical, to enhance overall performance and market presence[138]. Market and Industry Trends - The overall pharmaceutical industry in China is projected to maintain a revenue of RMB 25,298.5 billion in 2024, with a slight profit decline of 1.1% year-on-year[25]. - The beverage and refined tea manufacturing sector is expected to grow by 2.8% year-on-year, achieving a revenue of RMB 15,880.6 billion in 2024[25]. - The pharmaceutical industry is undergoing structural adjustments, with increasing regulatory pressures and price governance impacting overall growth[25]. - The pharmaceutical market in China continues to grow rapidly, becoming the second-largest pharmaceutical market globally, supported by government policies[93]. Research and Development - The company has over 200 ongoing research projects, including traditional Chinese medicine new drugs, generic drugs, biosimilars, and medical devices[52]. - The company is committed to strengthening its research and development capabilities, focusing on high-quality development of innovative and generic drugs, and improving the scientific research layout[98]. - Research and development expenses for the year were approximately $763.77 million, a decrease of 2.4% from $782.14 million in 2023[129]. Financial Position - The total assets increased by 3.94% to RMB 81,683,612 thousand compared to RMB 78,586,878 thousand at the end of 2023[27]. - The total liabilities rose by 4.78% to RMB 43,913,976 thousand from RMB 41,909,054 thousand in 2023[27]. - The company's total liabilities to total assets ratio is 53.76%, an increase from 53.33% as of December 31, 2023[89]. - The company has a total borrowing of RMB 13,260,569 thousand as of December 31, 2024, an increase of RMB 2,101,364 thousand from the previous year[88]. Employee and Workforce - The total salary expenditure for the group in the current year is RMB 3.792 billion, with a total of 28,138 employees[99]. - The company has a diverse workforce, with 11,754 sales personnel and 5,655 production personnel, contributing to its operational efficiency[101]. - The company emphasizes employee development through a comprehensive training management system, aiming for mutual growth between employees and the organization[105]. Sustainability and Corporate Responsibility - The company is committed to sustainable development and improving its capital operation capabilities, including enhancing ESG management and investor returns[98]. - The company is committed to environmental protection and public welfare, promoting sustainable development[122].
白云山(00874) - 2024 - 年度业绩