Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue increased by 13.9% to approximately RMB 768.9 million, up from about RMB 675.1 million in 2023[5]. - Gross profit for the same period rose by 10.1% to approximately RMB 419.4 million, compared to about RMB 380.9 million in 2023, resulting in a gross margin of 54.6%[5][7]. - The company's net profit decreased by 6.1% to approximately RMB 192.5 million, down from about RMB 205.0 million in 2023, while the profit attributable to shareholders fell by 1.6% to approximately RMB 150.8 million[5][7]. - Adjusted net profit (non-HKFRS measure) increased by 9.9% to approximately RMB 233.5 million, compared to about RMB 212.4 million in 2023[5]. - The company proposed a final dividend of HKD 0.053 per share, bringing the total dividend for the year to HKD 0.098 per share, slightly down from HKD 0.0985 per share in 2023[5]. - The company reported a net profit of RMB 192,522,000 for the year, after accounting for income tax expenses of RMB 37,231,000[39]. - The company's profit attributable to owners for the year 2024 was RMB 150,780,000, a slight decrease from RMB 153,184,000 in 2023, representing a decline of approximately 0.26%[60]. - The company's total tax expense for 2024 was RMB 37,231,000, compared to RMB 26,044,000 in 2023, reflecting an increase of 42.9%[52]. Business Segments - The infusion device business generated revenue of RMB 286.6 million, a stable increase of 2.0%, accounting for 37.3% of the total revenue during the reporting period[9]. - The blood purification business segment achieved a revenue of RMB 482.3 million, representing a 22.4% increase year-on-year, accounting for 62.7% of the group's total revenue during the reporting period[11]. - For the fiscal year ending December 31, 2024, the total revenue from the infusion business was RMB 286,646,000, while the blood purification business generated RMB 482,257,000, leading to a combined revenue of RMB 768,903,000[39]. - The operating profit for the infusion business was RMB 90,767,000, and for the blood purification business, it was RMB 129,412,000, resulting in a total operating profit of RMB 178,715,000[39]. Research and Development - The company incurred research and development expenses of RMB 44,120,000, compared to RMB 41,130,000 in the previous year, indicating a focus on innovation[23]. - The group has a strong R&D team with 173 patents, including 83 related to blood purification products, and has applied for 57 new patents[15]. - The company incurred research and development expenses for 2024 were RMB 59,703,000, down 21.2% from RMB 75,735,000 in 2023[1]. - Research and development expenses grew by 7.3% from approximately RMB 41.1 million in 2023 to approximately RMB 44.1 million in 2024, attributed to increased R&D spending in blood purification and regenerative medical biomaterials[85]. Market and Industry Trends - The Chinese medical device industry remains resilient, supported by government reforms and policies promoting domestic production and innovation[6][7]. - The group anticipates stable growth in the number of new patients receiving blood purification treatment due to increasing health awareness and improved healthcare policies[10]. - The geographical revenue distribution for 2024 shows China at RMB 643,933 thousand, India at RMB 39,673 thousand, and the Americas at RMB 21,167 thousand, totaling RMB 768,903 thousand[45]. Shareholder and Corporate Governance - The company has initiated a share buyback program with a budget of up to HKD 150 million, aiming to enhance market liquidity and stabilize stock prices[21]. - The board proposed a final dividend of 5.3 HKD cents per share for the year ended December 31, 2024, up from 4.95 HKD cents for the previous year, bringing the total dividend for the year to 9.8 HKD cents per share[123]. - The company has maintained a strong credit risk management policy, with most trade and other receivables coming from state-owned enterprises or major clients with good repayment records[116]. - The company is committed to good corporate governance practices, having adopted the corporate governance code as per the listing rules[125]. Financial Position - The company maintains a healthy cash flow with cash and cash equivalents reaching RMB 1,682.0 million[7]. - The total assets as of December 31, 2024, amounted to RMB 5,160,929,000, slightly up from RMB 5,152,049,000 in 2023[26]. - The total assets of the company as of December 31, 2024, were RMB 4,803,368,000, a slight decrease from RMB 4,824,985,000 in the previous year[27]. - The company's current liabilities increased to RMB 177,440,000 from RMB 149,263,000, reflecting a growth of approximately 18.9% year-over-year[27]. Employee and Operational Metrics - The total employee costs for 2024 amounted to RMB 133,971,000, an increase of 19.8% compared to RMB 111,753,000 in 2023[1]. - As of December 31, 2024, the company had approximately 1,415 employees, an increase from 1,244 employees as of December 31, 2023[117]. - The company plans to implement a share-based payment incentive plan for employees, with a total of 6,332,340 shares to be granted[96]. Audit and Compliance - The audit committee has reviewed the consolidated financial information for the year ending December 31, 2024, discussing risk management and internal controls[128]. - The independent auditor has confirmed that the performance figures for the year ending December 31, 2024, align with the consolidated financial statements[129].
普华和顺(01358) - 2024 - 年度业绩