SINO BIOPHARM(HK:01177)2023-04-28 11:00Research and Development - The company reported a strong focus on research and development, with industry-leading investment in R&D and product innovation capabilities [8]. - Research and development expenses accounted for over 15% of total sales revenue, highlighting the company's commitment to innovation [28]. - The group reported a total R&D expenditure of approximately RMB 4,454.18 million, representing about 15.5% of the group's revenue, with over 74% of this investment allocated to innovative and biological drugs [64]. - The company has 40 innovative drug candidates in the oncology field at clinical application stages, with 8 expected to be approved for market in the next three years (2023-2025) [40]. - The company has 8 innovative drug candidates in the liver disease field, with 4 expected to be approved for market in the next three years (2023-2025) [41]. - The company has 10 innovative drug candidates in the respiratory system field at clinical application stage or above, including 1 in the market application stage and 5 in Phase II clinical trials [45]. - The company is conducting Phase II clinical trials for TDI01, a selective ROCK2 inhibitor, targeting conditions such as pneumoconiosis and COVID-19 [46]. - The company has submitted a market application for Enzastaurin, a new oral COVID-19 treatment, which shows significant improvement in symptoms associated with the Omicron variant [45]. - The company plans to launch several innovative drug products in the next three years, including TQB2450 and TQ-B3101, which are currently in the application stage [33]. Financial Performance - Revenue for 2022 reached RMB 28,780,412 thousand, an increase from RMB 26,861,356 thousand in 2021, representing a growth of approximately 7.1% [25]. - Gross profit for 2022 was RMB 22,984,902 thousand, compared to RMB 21,529,261 thousand in 2021, indicating a year-over-year increase of about 6.8% [25]. - The net profit for 2022 was RMB 5,002,618 thousand, a decrease from RMB 16,614,793 thousand in 2021, representing a decline of approximately 69.9% [25]. - The company reported a pre-tax profit of RMB 5,778,604 thousand for 2022, down from RMB 18,572,673 thousand in 2021, indicating a decline of approximately 68.9% [25]. - Profit attributable to equity holders decreased by approximately 82.6% to RMB 2,543.57 million, with earnings per share of RMB 0.1366, down about 82.4% [50]. - Adjusted net profit under non-HKFRS was approximately RMB 2,986.33 million, an increase of about 16.4% compared to the previous year [50]. - The company’s total liabilities increased to RMB 26,120,736 thousand in 2022 from RMB 22,814,314 thousand in 2021, marking an increase of about 14.0% [25]. - The total assets of the company increased to RMB 64,064,284 thousand in 2022, up from RMB 60,543,337 thousand in 2021, reflecting a growth of approximately 4.2% [25]. Market Position and Recognition - The company has been recognized as a leading innovative pharmaceutical group in China, with a comprehensive product portfolio covering oncology, liver disease, and respiratory diseases [8]. - The company was included in the MSCI Global Standard Index as a constituent stock of the China Index, effective May 31, 2013 [11]. - The company has been listed among the "Top 50 Global Pharmaceutical Companies" for four consecutive years from 2019 to 2022 [14]. - The company successfully bid for 9 products in the national procurement process, the highest number among listed pharmaceutical companies [38]. Corporate Governance and ESG Initiatives - The company has established an ESG vision focused on high-quality management to support the United Nations Sustainable Development Goals and the Healthy China strategy [73]. - The company received awards for being one of the "Best ESG Employers" in China in 2022, highlighting its commitment to ESG principles [73]. - The board of directors is focused on overall corporate strategy and financial performance, ensuring sustainable development aligned with the company's mission [76]. - The company has implemented a strategic planning process to identify and assess risks and opportunities, aiming to create long-term value for shareholders [78]. - The company has established an ESG committee under the board to oversee significant ESG-related matters and ensure the implementation of ESG strategies [71]. Employee and Management Structure - The group had approximately 26,272 employees as of December 31, 2022 [69]. - Employee costs, including director remuneration and equity-settled share-based payment expenses, totaled approximately RMB 4,750.93 million for the year, compared to RMB 4,568.98 million in the previous year, representing an increase of about 4.0% [69]. - The company emphasizes employee development through competitive compensation, performance assessments, and training opportunities [144]. - The leadership team has received multiple awards and recognitions for their contributions to the industry and society [170][172]. Strategic Initiatives and Future Outlook - The company aims to achieve a revenue target of HKD 100 billion by 2030, driven by the launch of over ten innovative drug products in the next three years and more than forty innovative drugs expected to be launched by 2030 [51]. - The company is actively pursuing market expansion and new strategies to enhance its competitive position in the pharmaceutical industry [35]. - The company is committed to developing new drugs and modern healthcare products for cardiovascular and respiratory diseases [164]. - The company is positioned for market expansion, leveraging the expertise of its board and management team [181].