Financial Performance - For the six months ended June 30, 2025, the company's revenue was HKD 694,821,000, representing a year-on-year increase of 5.5% from HKD 658,345,000 in 2024[2]. - Gross profit for the same period was HKD 360,053,000, up 2.7% from HKD 350,595,000 in 2024, despite a decrease in gross margin from 53.3% to 51.8%[5]. - Net profit attributable to shareholders was HKD 67,185,000, reflecting a 7.5% increase compared to HKD 62,478,000 in the previous year[8]. - Operating profit decreased to HKD 67,515,000 from HKD 68,134,000 year-over-year, indicating a decline of approximately 0.9%[19]. - Net profit for the period was HKD 50,546,000, down from HKD 54,869,000 in 2024, a decrease of about 7.9%[20]. - Basic earnings per share for the six months ended June 30, 2025, was HKD 11.41, compared to HKD 10.61 in 2024, an increase of approximately 7.5%[19]. - The company reported a net profit attributable to shareholders of HKD 67,185,000 for the six months ended June 30, 2025, compared to HKD 62,478,000 for the same period in 2024, representing an increase of approximately 11.0%[44]. Research and Development - The company invested HKD 159,756,000 in research and development, a significant increase of 88.6% from HKD 84,713,000 in 2024, accounting for 23.0% of the revenue[6]. - Research and development expenses increased to HKD 41,611,000 from HKD 34,076,000, representing a rise of approximately 22%[31]. - The company maintains a strong project pipeline in drug development, with a focus on selecting and advancing promising opportunities across various therapeutic areas[11]. Manufacturing and Production - The company has enhanced its manufacturing capabilities with a new fully automated production line, significantly increasing production efficiency and capacity for key products[9]. - The company is focusing on improving production and manufacturing efficiency, including expanding the production scale of Aripiprazole tablets and advancing the verification batch production of the product after successful Phase II clinical trials of the fentanyl inhalation solution[10]. Market and Sales - The strong performance in rare disease and specialty products, particularly the 31.4% growth in "Rinvoq®" and 12.9% growth in "Brolucizumab®", contributed to overall revenue growth[4]. - The company reported that new product contributions accounted for approximately 39.0% of total revenue, with proprietary and generic products making up the remaining 61.0%[5]. - The company has successfully maintained sales growth, with 10 products included in the latest medical insurance drug list, reflecting efforts to expand market access and improve patient affordability[17]. - The company is cautiously optimistic about the second half of 2025, expecting more products to be considered for inclusion in the medical insurance drug list, despite potential pricing pressures from regulatory developments[18]. Financial Position - Total assets as of June 30, 2025, amounted to HKD 2,182,833,000, up from HKD 1,846,612,000 in 2024, representing an increase of about 18.2%[21]. - Non-current assets were valued at HKD 1,245,683,000, an increase from HKD 1,135,017,000 in the previous year, reflecting a growth of approximately 9.8%[21]. - Current liabilities increased to HKD 813,393,000 from HKD 771,254,000, indicating a rise of about 5.5%[21]. - The company's equity attributable to owners was HKD 1,943,441,000, compared to HKD 1,651,799,000 in 2024, an increase of approximately 17.7%[22]. - The company reported a foreign exchange gain of HKD 45,887,000 for the period, compared to a loss of HKD 27,737,000 in the previous year[20]. - The company’s total comprehensive income for the period was HKD 306,114,000, compared to HKD 62,478,000 in the previous year, showing a significant increase driven by fair value changes in financial assets[23]. Cash Flow and Investments - The cash generated from operating activities for the six months ended June 30, 2025, was HKD 192,906,000, significantly higher than HKD 67,203,000 in the previous year, indicating a substantial improvement in operational efficiency[24]. - The company incurred total cash outflows from investing activities of HKD 86,336,000 for the six months ended June 30, 2025, compared to HKD 65,206,000 in the same period of 2024, reflecting increased investment in development and capital expenditures[24]. - The company paid dividends of HKD 14,721,000 during the period, an increase from HKD 5,888,000 in the previous year, reflecting a commitment to returning value to shareholders[24]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 2.20 per share, up from HKD 2.00 in the previous year[2]. - The interim dividend declared is HKD 0.022 per ordinary share, up from HKD 0.020 per share in 2024, totaling HKD 12,954,000 compared to HKD 11,777,000 in the previous year[41]. - The company’s retained earnings increased to HKD 3,699,008,000 as of June 30, 2025, compared to HKD 3,560,525,000 at the end of June 2024, indicating growth in accumulated profits[23]. Regulatory and Compliance - The company’s financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations and standards[25]. - The company’s estimated taxable profits in Hong Kong are subject to a two-tiered tax system, with profits up to HKD 2 million taxed at 8.25% and profits above that taxed at 16.5%[36]. Other Financial Metrics - The group reported segment revenue of HKD 423,504,000 for patented and generic products, an increase from HKD 402,343,000 in the previous year, representing a growth of approximately 27.5%[31]. - Revenue from introduced products was HKD 271,317,000, up from HKD 256,002,000, marking a growth of about 6%[31]. - The total amount of trade payables decreased to HKD 133,030,000 as of June 30, 2025, from HKD 141,967,000 as of December 31, 2024, a decline of about 6.3%[51]. - The company incurred current tax expenses of HKD 5,604,000 for the six months ended June 30, 2025, compared to HKD 2,319,000 for the same period in 2024, representing a significant increase of approximately 141.5%[37].
李氏大药厂(00950) - 2025 - 中期业绩