Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 2,214,783,000, representing an 8.0% increase compared to RMB 2,049,812,000 in 2023[3]. - Gross profit for the same period was RMB 1,288,407,000, with a gross margin of 58.2%, down from 59.4% in the previous year[3][5]. - Profit attributable to equity holders of the company decreased by 41.5% to RMB 95,212,000, compared to RMB 162,775,000 in 2023[3][5]. - Basic and diluted earnings per share were RMB 0.11, a decline of 42.1% from RMB 0.19 in the prior year[3][5]. - The company reported a net profit of RMB 96,147,000 for the year, down from RMB 164,134,000 in 2023[5][7]. - The total dividend per share decreased by 44.4% to HKD 0.05 from HKD 0.09 in the previous year[3]. - The operating profit before tax was reported at RMB 146,897 thousand, after accounting for various expenses including sales and distribution costs of RMB 988,737 thousand and administrative expenses of RMB 105,745 thousand[32]. - The company reported a pre-tax profit of RMB 207,581 thousand for the year, showing a stable performance despite increased costs[33]. - The total income tax expense increased to RMB 50,750,000 from RMB 43,447,000, marking an increase of about 16%[42]. - The profit attributable to equity holders of the parent company for the year was RMB 95,212,000, down from RMB 162,775,000, indicating a decrease of around 41%[47]. Assets and Liabilities - Non-current assets increased to RMB 973,002,000 from RMB 918,514,000 year-on-year[8]. - Current assets rose to RMB 1,014,120,000, compared to RMB 874,121,000 in the previous year[8]. - Total liabilities increased to RMB 731,564,000 from RMB 608,608,000 in 2023[9]. - The company's total equity stood at RMB 1,121,542,000, up from RMB 1,053,333,000 in the previous year[9]. - The total value of inventory increased to RMB 345,352,000 in 2024 from RMB 330,017,000 in 2023, representing a growth of approximately 4%[55]. - Trade receivables rose significantly to RMB 324,698,000 in 2024, up from RMB 195,894,000 in 2023, marking an increase of about 65.5%[56]. - The net trade receivables after impairment increased to RMB 316,737,000 in 2024, compared to RMB 192,033,000 in 2023, reflecting a growth of approximately 64.9%[58]. - The impairment loss for trade receivables increased to RMB 7,961,000 in 2024 from RMB 3,861,000 in 2023, indicating a rise of about 106%[58]. - Trade payables and notes payable totaled RMB 295.96 million, up from RMB 190.97 million in the previous year[62]. - The group's debt ratio increased to 7.5% as of December 31, 2024, compared to 4.8% in 2023, with total equity attributable to shareholders amounting to RMB 1,121.5 million[82]. Segment Performance - Total revenue for the year ending December 31, 2024, reached RMB 2,923,021 thousand, with contributions from the pharmaceutical segment at RMB 2,332,527 thousand and the retail pharmacy segment at RMB 590,494 thousand[32]. - The pharmaceutical segment generated external customer revenue of RMB 1,624,289 thousand, while inter-segment sales amounted to RMB 708,238 thousand[32]. - The pharmaceutical segment's revenue grew by approximately 14.7% to RMB 1,624.3 million, accounting for 73.3% of total revenue[70]. - The operating chain pharmacy segment's revenue declined by 6.9% to approximately RMB 590.5 million, representing 26.7% of total revenue[71]. - The gross profit of the retail pharmacy segment decreased by approximately 12.0%, amounting to RMB 212.3 million for the year ending December 31, 2024, compared to RMB 241.2 million in 2023[73]. Research and Development - Research and development costs increased to RMB 57,011 thousand in 2024 from RMB 49,982 thousand in 2023, reflecting a growth of approximately 14.0%[38]. - Research and development expenses increased by approximately 14.1% to RMB 57.0 million for the year ending December 31, 2024, compared to RMB 50.0 million in 2023, mainly due to increased collaborative R&D costs[77]. Compliance and Reporting Standards - The financial statements are prepared in accordance with International Financial Reporting Standards and Hong Kong Companies Ordinance, using historical cost convention except for certain financial assets measured at fair value[11]. - The company has adopted revised International Financial Reporting Standards for the first time this year, including IFRS 16 related to lease liabilities and IAS 1 regarding the classification of liabilities[15]. - The group has reassessed the debt terms and conditions for 2023 and 2024, concluding that the classification of liabilities as current or non-current remains unchanged, indicating no impact on the financial position[16]. - The group is currently analyzing the new regulations and assessing the impact of IFRS 18 on the presentation and disclosure of its financial statements[19]. - The group has not reported any significant changes in financial performance due to the early application of the amendments to international financial reporting standards[25]. Operational Stability - The company is primarily engaged in the manufacturing and sales of pharmaceutical products in China, with no significant changes in major activities during the year[10]. - The company has not reported any significant changes in its major activities during the year, indicating stability in its operations[10]. - The group operates 403 self-operated chain pharmacies in Guangdong Province, down from 428 in the previous year[71]. - The company anticipates a steady increase in demand for traditional Chinese medicine, prompting plans to expand production capacity at the new factory[91]. Shareholder and Corporate Governance - The proposed final dividend per ordinary share is 5 HKD cents, up from 3 HKD cents in the previous year, reflecting a growth of approximately 67%[43]. - The board has adopted a competitive remuneration policy for directors to attract and retain qualified individuals[88]. - The audit committee, established on June 8, 2015, reviews financial statements and oversees risk management and internal control systems[99]. - The company is committed to enhancing its existing business and will consider potential investment opportunities that may benefit shareholders[96].
中智药业(03737) - 2024 - 年度业绩