Financial Performance - For the six months ended June 30, 2022, the Group's revenue was RMB 993,528,000, representing an increase of approximately 12.1% compared to RMB 886,526,000 for the same period last year[10]. - Gross profit for the same period was RMB 738,091,000, an increase of 11.6% from RMB 661,240,000[10]. - Profit before taxation was RMB 309,517,000, showing a slight increase of 0.6% from RMB 307,691,000[10]. - Profit attributable to equity shareholders of the Company was RMB 296,729,000, reflecting an 18.4% increase from RMB 250,644,000[10]. - Basic earnings per share increased by 19.5% to RMB 0.3743 from RMB 0.3132[10]. - The Group's gross profit margin was 74.3%, slightly down from 74.6%[10]. - Revenue for the six months ended June 30, 2022, was RMB 993,528,000, an increase of 12.1% from RMB 886,526,000 in the same period of 2021[81]. - Gross profit for the same period was RMB 738,091,000, representing a 11.6% increase from RMB 661,240,000 in 2021[120]. - The profit attributable to equity shareholders for the six months ended June 30, 2022, was RMB 296,729,000, an increase of 18.4% compared to RMB 250,644,000 for the same period in 2021[147]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 4,345,942,000, a decrease of 0.4% from RMB 4,362,738,000[10]. - Total equity attributable to equity shareholders of the Company increased by 5.4% to RMB 2,758,673,000 from RMB 2,617,705,000[10]. - The net assets per share increased by 7.6% to RMB 3.42 from RMB 3.18[10]. - Total non-current assets as of June 30, 2022, were RMB 1,292,824,000, a slight decrease from RMB 1,306,909,000 at the end of 2021[85]. - Current assets totaled RMB 3,053,118,000, showing a marginal decrease from RMB 3,055,829,000 at the end of 2021[85]. - The Group's total liabilities as of June 30, 2022, were RMB 718,796,000, a slight decrease from RMB 750,214,000 as of December 31, 2021[170]. - Bank loans, both secured and unsecured, totaled RMB 466,424,000 as of June 30, 2022, down from RMB 599,302,000 as of December 31, 2021, indicating a decrease of 22.1%[173]. Cash Flow - The net cash generated from operating activities in the first half of 2022 was RMB 332,749,000, an increase of approximately 71.8% compared to RMB 193,722,000 in the same period of 2021[38][40]. - Cash and cash equivalents at June 30, 2022, were RMB 1,940,625,000, a decrease of approximately 11.6% from RMB 2,196,323,000 as of December 31, 2021[42][43]. - The company reported a net cash used in investing activities of RMB 291,862 for the first half of 2022, compared to RMB 321,584 in the prior year[97]. - Financing activities resulted in a net cash outflow of RMB 302,234 for the six months ended June 30, 2022, compared to RMB 98,255 in the same period of 2021[97]. Expenses - Distribution costs increased by approximately 18.3% to RMB 327,422,000, driven by increased marketing and academic promotion campaigns[20]. - Administrative expenses rose by approximately 31.9% to RMB 135,299,000, mainly due to increased research and development expenses and staff costs[22]. - Research and development costs for H1 2022 were RMB 49,084,000, compared to RMB 34,377,000 in H1 2021, reflecting a significant increase of 42.7%[136]. - Staff costs, including salaries and benefits, totaled RMB 192,163,000 in H1 2022, up from RMB 181,368,000 in H1 2021, an increase of 5.4%[134]. Market and Operational Insights - Sales of kidney medicines increased by 14.0%, with Uremic Clearance Granules maintaining its leading market position; orthopedic medicines saw a significant increase of approximately 202.9%[14]. - The Group faced challenges in the pharmaceutical industry due to factors such as centralized procurement, medical insurance payment control, and rising raw material prices[76][77]. - Despite market pressures, the Group maintained positive growth in key indicators including sales revenue, profit, and cash flow[76][77]. - The Group improved production and operational efficiency by reducing costs and enhancing effectiveness[76][77]. - The Horgos production base commenced operations, aiding in overcoming challenges faced during the reporting period[76][77]. Shareholder Information - The company did not recommend an interim dividend for the six months ended June 30, 2022, and will consider a final dividend based on previous years' levels[79]. - Final dividends for the previous financial year of HKD0.2 per share were approved and paid during the interim period, totaling RMB 127,492,000, down from RMB 133,950,000 the previous year[185]. - The issued share capital as of June 30, 2022, was 806,973,000 shares, with a nominal value of HKD80,698,000 (approximately RMB63,450,000)[187]. Compliance and Governance - The Group did not have any material acquisitions or disposals of subsidiaries, associated companies, and joint ventures during the first half of 2022[56]. - The Group did not have any material contingent liabilities as of June 30, 2022, consistent with the previous year[59][64]. - The company did not apply any new standards or interpretations that are not yet effective for the current accounting period[105].
康臣药业(01681) - 2022 - 中期财报