Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 551.2 million, a decrease of 3.8% compared to RMB 573.1 million in 2023[4] - Gross profit increased to RMB 224.9 million, resulting in a gross margin of 40.8%, up from 31.2% in 2023, representing a 9.6 percentage point increase[10] - The net loss for the year narrowed to RMB 217.4 million, a reduction of 39.0% from RMB 356.4 million in 2023[10] - Adjusted net loss, excluding global offering expenses and share-based payments, was RMB 57.3 million, down 81.9% from RMB 317.1 million in the previous year[10] - Total revenue decreased by 3.8% from RMB 573.1 million in 2023 to RMB 551.2 million in 2024, primarily due to a decline in digital services revenue[29] - Digital services revenue fell by 7.4% from RMB 369.9 million in 2023 to RMB 342.5 million in 2024, attributed to increased market competition leading to lower average service prices[29] - Gross profit rose by 25.7% from RMB 179.0 million in 2023 to RMB 224.9 million in 2024, with gross margin improving from 31.2% to 40.8%[31] - Selling expenses decreased by 41.7% from RMB 150.2 million in 2023 to RMB 87.6 million in 2024, due to enhanced sales strategy efficiency[32] - Administrative expenses increased from RMB 268.9 million in 2023 to RMB 321.4 million in 2024, mainly due to a significant rise in share-based payments[33] - R&D expenses decreased by 48.5% from RMB 169.2 million in 2023 to RMB 87.1 million in 2024, reflecting optimized R&D efficiency[34] - The company incurred total expenses of RMB 822,253 thousand in 2024, down from RMB 982,446 thousand in 2023, a decrease of approximately 16.3%[73] Customer and Market Engagement - The company has served over 1,400 pharmaceutical companies and CROs, including 21 of the top 25 global pharmaceutical companies and 90 of the top 100 innovative pharmaceutical companies in China[10] - The company supports 21 out of the top 25 global pharmaceutical companies and has assisted in 40 NDA/BLA submission projects in China[24] - The company aims to expand its product and service offerings, including global project operations and risk management[22] - The company is focused on enhancing its direct sales model and targeted marketing strategies to attract high-quality potential clients[23] - The company has a high customer renewal rate, leading to continuous data flow and quarterly updates of its DLA model[24] Technology and Innovation - AI technology applications in clinical trial collection and mining were featured in the international academic journal "Nature" in March 2024[10] - The company is constructing a digital integration platform for pharmaceutical enterprises, with the first phase of a clinical operation integration platform completed for a client[8] - The company plans to launch an intelligent platform for clinical research, aiming to reduce R&D costs by 30% and improve trial efficiency by 50%[20] - The intelligent platform will utilize over 4,000 historical trial data points for real-time feedback and optimization[20] - The company emphasizes the integration of advanced technologies like multi-cloud deployment and cloud security measures to meet evolving industry demands[22] Financial Position and Assets - As of December 31, 2024, the company's current assets net value is RMB 1,184.5 million, an increase from RMB 968.3 million as of December 31, 2023[43] - The company's current ratio is 5.05, up from 3.71 in the previous year, indicating strong liquidity[43][44] - Total bank borrowings amount to RMB 10.0 million, with a repayment due within one year[43] - Total assets increased to RMB 1,583,197 thousand in 2024 from RMB 1,444,672 thousand in 2023, representing an increase of approximately 9.6%[58] - The company’s total liabilities decreased to RMB 348,624 thousand in 2024 from RMB 402,559 thousand in 2023, a reduction of about 13.4%[59] - The equity attributable to owners increased to RMB 1,157,810 thousand in 2024 from RMB 978,327 thousand in 2023, an increase of approximately 18.3%[58] Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with relevant accounting standards and regulations[95] - The external auditor confirmed that the financial figures for the year ending December 31, 2024, align with the audited consolidated financial statements[96] - The company has adopted the corporate governance code as per the listing rules, ensuring compliance by all directors and supervisors[92] - The company operates under the International Financial Reporting Standards (IFRS)[106] - The company is committed to adhering to the listing rules set by the Hong Kong Stock Exchange[106] Future Plans and Strategy - The company is focusing on enhancing core competitive products and improving internal operational efficiency and profitability quality in 2024[10] - The company plans to implement international marketing strategies to support global expansion and digital transformation solutions[26] - The company aims to build infrastructure for the future pharmaceutical industry, enhancing drug safety and accessibility while reducing patient medical burdens[7] - The company is focused on research and development (R&D) to enhance its product offerings[110] - The company aims to expand its market presence through strategic initiatives and potential acquisitions[110] Shareholder Information - The company did not declare or pay any dividends for the year ended December 31, 2024, consistent with 2023[78] - The company currently has no dividend policy and plans to retain all future profits for operations and business expansion[91] - The company will regularly review its status and consider adopting a dividend policy at an appropriate time[91] - The company will allocate 10% of future profits to the statutory reserve fund until it reaches over 50% of the registered capital[91] Miscellaneous - The company completed its global offering and successfully listed on the Hong Kong Stock Exchange on October 8, 2024[63] - The company has not engaged in any purchase, sale, or redemption of its listed securities since its listing on October 8, 2024[94] - The company will hold its annual general meeting on June 13, 2025, with a suspension of H-share transfer registration from June 10 to June 13, 2025[99][100] - The company has appointed a new general manager, Wan Yunxun, effective February 11, 2025, to oversee daily management and operations[97] - The annual report for the year ending December 31, 2024, will be published on the company's website and the stock exchange's website[102]
太美医疗科技(02576) - 2024 - 年度业绩