Revenue Growth - Revenue increased approximately 103% from about RMB 138 million for the year ended December 31, 2023, to about RMB 280 million for the year ended December 31, 2024[5]. - Revenue increased approximately 103.2% from about RMB 137.6 million for the year ended December 31, 2023, to about RMB 279.6 million for the year ended December 31, 2024, primarily due to increased sales of hair disease and care products and daily skincare products[27]. - The company reported total revenue of RMB 279.6 million for the year ending December 31, 2024, compared to RMB 137.6 million in 2023, representing a growth of 102.6%[67]. Profitability and Loss - Gross profit increased approximately 102.0% to about RMB 143.5 million for the year ended December 31, 2024, with a stable gross margin of approximately 51%[29]. - The total loss for the year was RMB 433.8 million, a reduction from RMB 1,963.8 million in 2023, showing an improvement in financial performance[67]. - The company reported a net loss of RMB 433.8 million for 2024, a significant improvement from a loss of RMB 1,963.8 million in 2023[45]. - Non-IFRS adjusted net loss for 2024 was RMB 365.2 million, compared to RMB 351.9 million in 2023, representing a loss margin of 1.31% of revenue[45]. - The basic and diluted loss per share for 2024 was RMB 1.41, compared to RMB 9.60 in 2023, reflecting a reduction in losses[90]. Expenses and Costs - Sales and distribution expenses as a percentage of revenue significantly decreased compared to the previous year, while R&D costs decreased by approximately RMB 17 million or 8%, and administrative expenses decreased by approximately RMB 44 million or 24%[5]. - Cost of sales rose by approximately RMB 69.6 million to about RMB 136.2 million for the year ended December 31, 2024, compared to about RMB 66.6 million for the year ended December 31, 2023, consistent with business growth[28]. - Selling and distribution expenses increased approximately 26.6% to about RMB 263.7 million for the year ended December 31, 2024, compared to about RMB 208.3 million for the year ended December 31, 2023, driven by expanded online marketing activities[32]. - Research and development costs decreased approximately 7.7% to about RMB 199.0 million for the year ended December 31, 2024, from about RMB 215.7 million for the year ended December 31, 2023[33]. - Administrative expenses decreased approximately 23.7% to about RMB 141.9 million for the year ended December 31, 2024, compared to about RMB 185.9 million for the year ended December 31, 2023[35]. Cash and Financial Position - The total cash and cash equivalents, along with financial assets at fair value, amounted to approximately RMB 876 million as of December 31, 2024[5]. - Cash and cash equivalents decreased by approximately 18.5% to RMB 385.7 million as of December 31, 2024, down from RMB 473.1 million in 2023[46]. - The company's current assets totaled approximately RMB 1,087.1 million, with current liabilities of about RMB 323.3 million, including interest-bearing bank loans of RMB 213.3 million[46]. - The debt-to-asset ratio increased to 30.0% as of December 31, 2024, up from 21.0% in 2023, primarily due to increased interest-bearing bank loans[49]. - The company held financial assets at fair value of approximately RMB 480.0 million as of December 31, 2024, an increase of about 2.3% from RMB 469.3 million in 2023[46]. Product Development and Approvals - CU-10201, a topical 4% minocycline foam, received approval from the National Medical Products Administration in November 2024, marking it as the first and only approved topical minocycline for acne treatment globally[6]. - CU-40102, a topical finasteride spray, had its NDA accepted by the National Medical Products Administration in January 2024, and it is the first and only approved topical finasteride product for androgenetic alopecia[6]. - CU-30101, a topical lidocaine-prilocaine cream, had its drug registration application accepted in July 2024, demonstrating comparable analgesic efficacy to the reference product Pliaglis®[6]. - The company completed the Phase II clinical trial for CU-20401, a recombinant mutated collagenase for treating submental fat accumulation, showing significant efficacy and good safety profile[6]. - CU-20401 is expected to accelerate into Phase III clinical trials following positive Phase II results, showcasing good safety and efficacy[24]. Market Performance - During the "618 event," the company's products recorded GMV exceeding RMB 56 million, a year-on-year increase of 500%, and during the "Double 11 event," GMV exceeded RMB 110 million, doubling the performance from the "618 event"[6]. - The company has developed a tailored commercialization strategy to penetrate the extensive skin disease treatment market in China, leveraging online and offline marketing channels[18]. - The self-operated customer service team enhances customer experience, contributing to higher repurchase rates and brand loyalty[20]. Governance and Corporate Structure - The company has adhered to all applicable corporate governance codes throughout the year ending December 31, 2024[58]. - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[109]. - The company has established independent investment funds, such as Oriental Kylin Fund SPC and Summit View Fund SPC, to enhance its investment strategies[110]. Shareholder Actions - The company did not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year[64]. - The company has repurchased a total of 1,362,600 shares at a total cost of approximately HKD 15.1 million, representing about 0.44714% of the issued shares[60].
科笛-B(02487) - 2024 - 年度业绩