Financial Performance - The company reported a revenue of RMB 438,869,000 for the six months ended June 30, 2025, representing a 11.7% increase from RMB 393,093,000 in the same period of 2024[5] - Gross profit for the same period was RMB 361,645,000, up from RMB 315,079,000, indicating a growth of 14.8%[5] - Operating profit decreased slightly to RMB 123,803,000 from RMB 127,806,000, a decline of 3.1%[5] - Profit attributable to shareholders was RMB 103,006,000, compared to RMB 104,282,000 in the previous year, reflecting a decrease of 1.2%[5] - Basic earnings per share for the first half of 2025 was 18.38 cents, down from 18.61 cents in the same period of 2024[5] - For the six months ended June 30, 2025, total revenue was RMB 448,640,000, an increase of 6.4% from RMB 423,209,000 in the same period of 2024[13] - Pharmaceutical sales accounted for RMB 438,869,000, up from RMB 393,093,000, reflecting a growth of 11.7% year-over-year[13] - The net profit attributable to shareholders for the same period was RMB 103,006,000, a decrease of RMB 1,276,000 from RMB 104,282,000 in 2024[34] - The gross margin for the six months ended June 30, 2025, was approximately 82.4%, an increase from the previous year's margin due to reduced production and material costs[34] Assets and Liabilities - Total assets as of June 30, 2025, were RMB 1,773,067,000, an increase from RMB 1,670,437,000 at the end of 2024[7] - Current assets increased to RMB 1,328,317,000 from RMB 1,099,048,000, showing a growth of 20.9%[6] - The company’s cash and cash equivalents rose significantly to RMB 485,117,000 from RMB 235,846,000, marking an increase of 105.5%[6] - Total equity increased to RMB 1,732,620,000 from RMB 1,629,614,000, reflecting a growth of 6.3%[7] - Inventory as of June 30, 2025, was valued at RMB 87,175,000, an increase of 45.2% from RMB 59,971,000 at the end of 2024[26] - Trade receivables totaled RMB 269,335,000, a decrease of 3.5% from RMB 279,121,000 at the end of 2024[28] - Bank borrowings remained unchanged at RMB 72,000,000 for both June 30, 2025, and December 31, 2024[29] - Trade payables increased to RMB 66,064,000 as of June 30, 2025, compared to RMB 63,541,000 at the end of 2024, reflecting a rise of 3.9%[30] Operational Highlights - The company continues to focus on the production and distribution of biochemical drugs under the Changlong and Shendi brands in China[10] - Operating profit for the six months ended June 30, 2025, was impacted by depreciation expenses of RMB 13,170,000, compared to RMB 10,902,000 in 2024, indicating a rise of 20.8%[15] - The income tax expense for the period was RMB 19,856,000, a decrease of 12.4% from RMB 22,711,000 in 2024, with a consistent tax rate of 15%[17] - The company expanded production capacity with the completion of a small-volume injection workshop that passed GMP compliance checks[35] - New equipment for traditional Chinese medicine extraction was added, expanding production capacity and range[37] - The company has commercialized new products including alpha-lipoic acid injection and furosemide injection, enhancing its product offerings[37] Corporate Governance - The audit committee, established on May 24, 2001, consists of three independent non-executive directors, responsible for reviewing and supervising the company's financial procedures and internal control systems[53] - The company has adopted a code of conduct for securities trading by directors, which meets or exceeds the standards set by GEM Listing Rules[51] - The board of directors has not fully complied with the corporate governance code regarding the separation of the roles of chairman and CEO, as the same individual holds both positions[52] - The company has not disclosed any non-compliance with the trading standards and code of conduct for directors[51] - The audit committee has reviewed the accounting standards and practices adopted by the company, including the unaudited results for the period ending June 30, 2025[53] - The company has a remuneration policy that considers market conditions and individual employee performance, with discretionary bonuses awarded based on contributions[54] - The chairman, Zhang Hong, is also a major shareholder and has extensive industry experience, contributing to the company's growth and profitability[52] - The company has not reported any interests in competing businesses from its directors or major shareholders during the review period[50] Workforce - As of June 30, 2025, the company employed 798 staff members, an increase from 678 staff members as of June 30, 2024, indicating a growth of approximately 17.7% in workforce size[54] Dividends and Shareholder Actions - The company did not declare an interim dividend for the six months ended June 30, 2025, consistent with the previous year[20] - The company has not repurchased, sold, or redeemed any of its listed shares during the six-month period ending June 30, 2025[55]
吉林长龙药业(08049) - 2025 - 中期财报