Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 1,669,817, a decrease of 3.9% compared to HKD 1,736,972 in 2023[3] - Net profit for the year increased by 11.6% to HKD 307,222 from HKD 275,260 in the previous year[3] - Total comprehensive income for the year was HKD 260,658, an increase from HKD 244,925 in 2023[4] - Total external customer revenue for the year ended December 31, 2024, was HKD 1,662,297,999, a decrease from HKD 1,731,873,976 in 2023[16] - The group's revenue for the year ending December 31, 2024, was approximately HKD 1,669.8 million, a decrease of 3.9% from HKD 1,737.0 million in 2023[68] - Despite the revenue decline, the group achieved a net profit of approximately HKD 307.2 million, an increase of 11.6% from HKD 275.3 million in 2023[68] Assets and Liabilities - Total assets rose by 5.5% to HKD 2,983,045, while total liabilities decreased by 4.9% to HKD 859,325[3] - The company's total assets increased to HKD 1,246,836,875 in 2024, up from HKD 1,153,040,731 in 2023, marking an increase of approximately 8.1%[25] - The company’s total liabilities related to intangible assets increased to HKD 929,878,947 in 2024, up from HKD 854,313,383 in 2023, reflecting an increase of about 8.8%[25] - The group’s debt-to-asset ratio was 28.8% as of December 31, 2024, down from 32.0% in 2023[77] Cash Flow and Dividends - The company's cash and cash equivalents increased by 9.3% to HKD 557,167 from HKD 509,845 in 2023[3] - The company declared a total dividend of HKD 0.12 per share, a 33.3% increase from HKD 0.09 in 2023[3] - The proposed final dividend is HKD 0.06 per share for 2024, compared to HKD 0.045 per share in 2023, representing a 33.3% increase[22] - The group's cash and cash equivalents amounted to approximately HKD 557,200,000 as of December 31, 2024, compared to HKD 509,800,000 as of December 31, 2023[77] Research and Development - The company plans to continue expanding its market presence and investing in new product development[3] - Research and development costs recognized as expenses were HKD 25,009,026 in 2024, down from HKD 39,144,729 in 2023[19] - The group plans to increase R&D investment and strengthen collaborations with research institutions and universities to foster innovation[66] - The company is actively pursuing multiple R&D projects at various clinical stages, focusing on single-dose ophthalmic products and biologics[44] Product Development and Market Potential - The company received NMPA approval for preservative-free single-dose sodium hyaluronate eye drops and sodium hyaluronate (0.3%) in August and September 2024, respectively, expanding its product offerings[42] - The estimated number of moderate to severe dry eye patients in China is around 111,600,000 by 2024, indicating a significant market potential for SkQ1[47] - The total investment cost for SkQ1's clinical development and global rights amounts to approximately HKD 344,000,000, representing 11.5% of the company's total assets as of December 31, 2024[47] - The joint development agreement with Shanghai Junshi Biosciences for the anti-VEGF product has a maximum commitment investment of USD 67,000,000 (approximately HKD 520,300,000)[50] Operational Efficiency - The gross profit margin remained stable at 89.8%, while the net profit margin improved to 18.4% from 15.8%[3] - The current ratio improved to 1.81 from 1.54, indicating better short-term financial health[3] - Employee costs (excluding director remuneration) amounted to HKD 309,070,741 in 2024, compared to HKD 298,225,948 in 2023[19] - Distribution and selling expenses were approximately HKD 934.2 million, a decrease of 7.7% from HKD 1,012.0 million in 2023[70] Corporate Governance and Management - The company has adhered to the corporate governance code as per the listing rules throughout the year[90] - The audit committee has reviewed and recommended the approval of the audited consolidated financial statements for the year ending December 31, 2024[97] - The company has appointed Mr. Yan Xianlong as the CEO effective July 1, 2025, pending shareholder approval[91] - Mr. Yan Xianlong has over 10 years of experience in translational and therapeutic research prior to joining the company in 2015[92] Legal and Regulatory Matters - A court ruling in May 2024 ordered the contractor to pay approximately HKD 31.1 million as compensation for breach of contract, which is lower than the amount claimed by the company[63] - The company is actively defending against allegations from Guangxi Wanshoutang Pharmaceutical Co., Ltd. regarding exclusive sales agreements and has filed a counterclaim for outstanding payments[64]
亿胜生物科技(01061) - 2024 - 年度业绩