Financial Performance - For the fiscal year ending March 31, 2025, revenue from continuing operations was approximately HKD 1,576.9 million, an increase of about 7.4% compared to HKD 1,467.8 million in the same period of 2024[3]. - Operating profit from continuing operations for the same fiscal year was approximately HKD 414.6 million, representing a 24.5% increase from HKD 333.1 million in 2024[3]. - Profit from continuing operations for the year was approximately HKD 300.8 million, up 43.1% from HKD 210.2 million in the previous year[3]. - The total comprehensive income for the year was HKD 201.2 million, compared to HKD 271.9 million in the previous year[8]. - Basic earnings per share from continuing operations increased to HKD 15.15 from HKD 10.95 in the previous year[8]. - The group reported external customer revenue of HKD 1,576,897,000 for the year ending March 31, 2025, representing an increase from HKD 1,467,798,000 in the previous year, which is a growth of approximately 7.5%[23]. - The group’s consolidated profit before tax for the continuing operations was HKD 373,626,000 for the year ending March 31, 2025, compared to HKD 254,583,000 in the previous year, representing an increase of approximately 46.7%[25]. - Profit attributable to equity holders increased by HKD 33.8 million or 12.7% to HKD 300.8 million, mainly due to a substantial increase in profit from continuing operations[123]. Dividends - The board proposed a final cash dividend of HKD 5.50 per share and a special cash dividend of HKD 6.00 per share, totaling approximately HKD 230,025 million[3]. - The total cash dividend for the fiscal year ending March 31, 2025, is proposed to be HKD 15.00 per share, compared to HKD 5.50 per share in 2024[3]. - The company declared an interim dividend of HKD 3.50 per share for 2025, up from HKD 2.50 per share in 2024, representing a 40% increase[40]. - The final dividend for the fiscal year ending March 31, 2025, is HKD 3.00 per share, compared to HKD 2.38 per share for the previous year, totaling HKD 60,007,000 for the current year versus HKD 46,034,000 last year[43]. - The board of directors proposed a final cash dividend of HKD 5.50 per share for the fiscal year 2025, compared to HKD 3.00 per share for fiscal year 2024, and a special cash dividend of HKD 6.00 per share[150]. Assets and Liabilities - Non-current assets increased to HKD 2,607,208 thousand in 2025 from HKD 2,522,438 thousand in 2024, representing a growth of approximately 3.36%[9]. - Current assets rose to HKD 1,037,954 thousand in 2025, up from HKD 964,416 thousand in 2024, indicating an increase of about 7.63%[9]. - Total liabilities decreased to HKD 1,167,723 thousand in 2025 from HKD 1,090,494 thousand in 2024, reflecting a reduction of approximately 7.09%[10]. - The company's net asset value increased to HKD 2,477,439 thousand in 2025, compared to HKD 2,396,360 thousand in 2024, marking an increase of around 3.39%[10]. - Bank loans decreased significantly from HKD 592,200 thousand in 2024 to HKD 476,500 thousand in 2025, a reduction of approximately 19.58%[10]. - Trade receivables decreased to HKD 145,091,000 as of March 31, 2025, down from HKD 172,834,000 in the previous year, representing a decline of approximately 16%[44]. - Trade payables decreased to HKD 41,658,000 as of March 31, 2025, from HKD 51,688,000 in the previous year, reflecting a reduction of approximately 19%[46]. - Contract liabilities decreased significantly to HKD 24,167,000 from HKD 60,876,000, representing a decline of approximately 60%[46]. Research and Development - The company has 219 products at various stages of development, positioning itself well for future market demands[61]. - The total expenses for research and development (excluding capitalized development costs) were HKD 2,235,000 for the year ended March 31, 2025, down from HKD 6,450,000 in 2024, indicating a significant reduction[32]. - The company has a robust R&D pipeline with 219 products, including 65 approved, 13 under review, 63 completed development, and 22 in formulation research[84]. - The company has developed 13 products that have been submitted for registration approval, covering various therapeutic areas, including antipsychotics and cardiovascular medications[83]. Market and Product Development - The company has expanded its product portfolio by introducing 20 new high-impact specialty drugs, covering areas such as gastroenterology, oncology, and rare diseases[63]. - The company is strategically expanding its product portfolio and optimizing distribution channels to strengthen its market position in Hong Kong's non-specialty pharmaceutical sector[76]. - The company is expanding its market presence in Malaysia, Singapore, and Taiwan, with regulatory approvals and licensing agreements to accelerate market expansion[93]. - The company successfully launched Hong Kong's first Axicabtagene Ciloleucel (Yikaida) therapy on February 20, 2025, marking a significant milestone in advanced therapy[94]. - The company signed exclusive licensing agreements for 20 high-efficacy specialty drugs across various therapeutic areas, including rheumatology and oncology[88]. Financial Management - Financing costs decreased to HKD 41.4 million from HKD 78.7 million in the previous year, indicating improved financial management[5]. - The net debt-to-equity ratio improved from 12.2% to 8.3%, while cash reserves remained stable at HKD 509.0 million[78]. - The company has maintained a conservative financial management approach, ensuring a solid capital structure and financial strength for future business development and acquisitions[132]. - There were no significant contingent liabilities as of March 31, 2025, indicating a stable financial position[136]. Corporate Governance and Compliance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[12]. - The company has adhered to all applicable laws and regulations during the reporting period, ensuring compliance and governance[144]. - The company has successfully maintained high standards of corporate governance, enhancing shareholder value and corporate responsibility[145]. - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing and supervising the group's financial reporting procedures and internal controls[148]. Sustainability and Corporate Responsibility - The company is committed to sustainable development, focusing on reducing greenhouse gas emissions and waste generation during the reporting period[74]. - The company has implemented various measures to encourage environmental protection and energy conservation, recognizing the importance of sustainable development[142]. - The company has received recognition for its corporate responsibility efforts, winning awards for being a good employer and an outstanding environmental partner[75]. Future Outlook - The company anticipates growth opportunities in the local pharmaceutical market due to recent policy reforms, including the Chronic Disease Collaborative Care Pilot Program and the establishment of the Hong Kong Medicines and Medical Devices Regulatory Authority[69]. - The company plans to launch three new products in the upcoming fiscal year, targeting a market expansion of 30%[158]. - The company has set a revenue guidance of HKD 1.5 billion for the next fiscal year, indicating a growth target of 25%[156]. - The government’s chronic disease management pilot program has benefited over 58,000 patients, promoting the use of non-prescription drugs in chronic disease management[100].
雅各臣科研制药(02633) - 2025 - 年度业绩