Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 1,041,698,000, a decrease of 2.4% compared to RMB 1,064,861,000 in 2023[3] - Gross profit for the year was RMB 330,467,000, down 26.2% from RMB 447,511,000 in the previous year[3] - Operating profit decreased slightly to RMB 34,722,000 from RMB 36,248,000, reflecting a decline of 4.2%[3] - The net profit attributable to the owners of the company was RMB 25,014,000, an increase of 3.7% from RMB 24,127,000 in 2023[3] - Basic and diluted earnings per share increased to RMB 1.49 from RMB 1.44, representing a growth of 3.5%[3] - The company reported a total segment profit of RMB 37,179,000 for 2024, a decrease of 3.2% from RMB 38,419,000 in 2023[33] - The net profit after tax decreased to approximately RMB 13,765,000, down about 5.23% from the previous year[65] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 1,398,086,000, compared to RMB 1,415,646,000 in 2023, indicating a slight decrease[4] - The company's cash and cash equivalents decreased to RMB 283,424,000 from RMB 372,206,000, a decline of 23.9%[4] - Non-current assets totaled RMB 589,059,000, an increase from RMB 495,062,000 in the previous year, reflecting a growth of 18.9%[4] - The company reported a total equity of RMB 1,026,099,000, up from RMB 1,016,182,000 in 2023, indicating a growth of 1.0%[5] - The company’s total liabilities decreased to RMB 222,377,000 in 2024 from RMB 260,527,000 in 2023, a reduction of about 14.6%[48] - Accounts receivable decreased to RMB 159,529,000 in 2024 from RMB 174,252,000 in 2023, a reduction of approximately 8.4%[46] Revenue Breakdown - Revenue from the production and sale of pharmaceuticals and medical devices was RMB 540,581,000 in 2024, down 6.3% from RMB 576,679,000 in 2023[26] - Revenue from the sale and distribution of pharmaceuticals, health products, and medical devices increased to RMB 501,117,000 in 2024, up 2.3% from RMB 488,182,000 in 2023[26] - The sales of medical devices accounted for approximately RMB 220,993,000 in 2024, compared to RMB 210,674,000 in 2023, reflecting a growth of 4.0%[27] - Revenue from hospitals was RMB 74,139,000 in 2024, while revenue from pharmacies was RMB 960,111,000, indicating a shift in sales channels[36] Expenses - Employee costs increased to RMB 163,778,000 in 2024 from RMB 148,985,000 in 2023, reflecting a rise of about 9.5%[37] - Research and development expenses decreased to RMB 33,130,000 in 2024 from RMB 46,203,000 in 2023, a decline of approximately 28.3%[39] - Sales and distribution expenses for the year were approximately RMB 162,361,000, a decrease of about 35.78% compared to the previous year[63] - Administrative expenses for the year were approximately RMB 93,912,000, an increase of 3.85% year-on-year[64] Dividends and Shareholder Information - The company plans to distribute a final dividend of RMB 0.005 per share and a special dividend of RMB 0.141 per share for 2024, totaling RMB 244,988,000[42][43] - Major shareholder Sea King Biological holds 1,181,000,000 shares, representing approximately 94.33% of domestic shares and 70.38% of total issued capital[88] - Sea King Group and Sea King Holdings each control 1,233,464,500 shares, accounting for 98.52% of domestic shares and 73.51% of total issued capital[88] Compliance and Governance - The financial statements comply with the applicable GEM Listing Rules disclosure requirements[10] - The board emphasizes adherence to corporate governance principles and has complied with applicable GEM listing rules[95] - The company has adopted a code of conduct for securities trading that meets or exceeds GEM listing rules standards[96] - The controlling shareholder, Sea King Biological, has committed not to engage in any business that competes directly or indirectly with the company[98] Future Plans and Market Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[7] - The company plans to continue transforming its marketing model and organizational structure to achieve profitability by 2025[57] - The company aims to enhance its product sales structure by shifting from traditional drug distribution to a model integrating medical services and drug distribution[57] - The company is actively expanding its market presence by participating in national procurement alliances, which could drive sales growth[56] Financial Reporting Standards - The consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and presented in Renminbi (RMB) as the functional currency[10] - The financial statements have been prepared on a historical cost basis, with no significant impact from the adoption of revised Hong Kong Financial Reporting Standards for the current and prior periods[11][12] - The revised Hong Kong Financial Reporting Standards effective from January 1, 2024, include HKAS 1 (Amendment) related to non-current liabilities with covenants and HKFRS 16 (Amendment) concerning lease liabilities in sale and leaseback transactions[12] - The company anticipates that the newly issued and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements[15] Employee and Workforce - The company employed a total of 1,485 employees as of December 31, 2024, compared to 1,444 employees in 2023, indicating a focus on workforce expansion[78] - The total employee cost for the year was approximately RMB 163,778,000, an increase from RMB 148,985,000 in 2023, reflecting adjustments in salaries and benefits to maintain competitiveness[78] Research and Development - The company has a total of 368 approved drug formulations at its Fuzhou production base, with 236 included in the National Basic Medical Insurance Drug List[53] - The company holds 87 patents, including 25 invention patents, indicating a strong focus on innovation and intellectual property[54] - Five products have passed the consistency evaluation, including sodium bicarbonate tablets and norfloxacin capsules, enhancing the company's market competitiveness[54] - The company aims to obtain production approval for its self-developed drugs by 2025, which could significantly impact future revenue streams[55] Miscellaneous - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[75] - The company reported no significant contingent liabilities as of December 31, 2024[76] - The company did not engage in any major investments or purchases of significant capital assets during the year[77] - The company has confirmed compliance with the non-competition commitment established with its controlling shareholder, Sea King Biological, during the year[94] - The group’s financial data for the year has been reviewed and is consistent with the audited consolidated financial statements[99]
海王英特龙(08329) - 2024 - 年度业绩