Financial Performance - Revenue decreased by RMB 100.8 million or 3.4% to RMB 2,850.8 million compared to the six months ended June 30, 2021[10]. - Net profit attributable to shareholders decreased by RMB 89.6 million or 23.2% to RMB 297.0 million[10]. - EBITDA decreased by RMB 38.7 million or 4.1% to RMB 916.0 million[10]. - The group's revenue decreased by 3.4% year-on-year for the first half of 2022, impacted by the COVID-19 pandemic and global economic fluctuations[13]. - The company recorded revenue of approximately RMB 2,850.8 million for the six months ended June 30, 2022, a decrease of about RMB 100.8 million or 3.4% compared to RMB 2,951.7 million for the same period in 2021[39]. - Net profit for the six months ended June 30, 2022, was approximately RMB 303.2 million, a decrease of about RMB 104.8 million or 25.7% from RMB 408.0 million for the same period in 2021[48]. - The total comprehensive income for the period was RMB 262,470 thousand, down from RMB 434,699 thousand in the same period last year, a decline of 39.5%[77]. Revenue Breakdown - Revenue from cardiovascular products decreased by 1.7% to RMB 787.1 million, while revenue from digestive and metabolic products decreased by 29.6% to RMB 322.7 million[14]. - Sales revenue from oncology products increased by 10.6% to RMB 1,025.0 million, indicating strong performance in this segment[14]. - Revenue from oncology drugs reached RMB 1,024,989 thousand, accounting for approximately 36% of total revenue[92]. - The cardiovascular system drugs segment generated RMB 787,061 thousand, representing a 3% decrease compared to RMB 800,653 thousand in the previous year[92][93]. Research and Development - The company has 32 products under development in China, including 13 oncology products and 12 central nervous system products[4]. - As of June 30, 2022, the R&D team consisted of 839 employees, including 72 PhDs and 407 Master's degree holders[3]. - The company holds 248 patents in China and 615 patents overseas, with additional patents pending[3]. - The company aims to continue investing in strategic therapeutic areas, including oncology, central nervous system, cardiovascular, and digestive and metabolic diseases[24]. - The company plans to enhance its R&D capabilities and develop in-progress products to strengthen its market position[34]. Market Presence and Distribution - The company has established a national sales and distribution network covering over 18,100 hospitals across 30 provinces in China[3]. - The company has over 50 global sales partnerships and operates in 80 countries or regions, including the US, EU, Japan, ASEAN, and Latin America[29]. - The company established a nationwide sales and distribution network in China, reaching over 18,100 hospitals, including approximately 2,200 tertiary hospitals (87% of all tertiary hospitals) and 5,400 secondary hospitals (65% of all secondary hospitals) by the first half of 2022[29]. Financial Position - The total assets as of June 30, 2022, amounted to RMB 22,568.0 million, while total liabilities were RMB 13,119.3 million[8]. - As of June 30, 2022, the company had net current assets of approximately RMB 2,865.8 million, down from RMB 3,066.5 million as of December 31, 2021, with a current ratio slightly decreasing from 1.42 to 1.39[49]. - Total borrowings as of June 30, 2022, amounted to approximately RMB 7,184.9 million, a decrease from RMB 7,578.2 million as of December 31, 2021, with RMB 5,395.7 million due within one year[50]. - The debt-to-equity ratio decreased from 83.6% as of December 31, 2021, to 76.4% as of June 30, 2022, primarily due to a reduction in total borrowings during the reporting period[51]. Expenses and Costs - Other income and gains decreased to RMB 141.9 million, down approximately RMB 20.4 million or 12.5% compared to RMB 162.3 million for the same period in 2021, primarily due to a reduction in government subsidies[42]. - Sales and distribution expenses increased to RMB 838.2 million, an increase of RMB 67.4 million or 8.7% compared to RMB 770.7 million for the same period in 2021[43]. - Administrative expenses for the six months ended June 30, 2022, were approximately RMB 266.2 million, a decrease of about RMB 15.7 million or 5.6% compared to RMB 281.9 million for the same period in 2021[44]. - Other expenses increased to approximately RMB 498.8 million for the six months ended June 30, 2022, an increase of about RMB 119.4 million or 31.5% from RMB 379.3 million in the same period of 2021, mainly due to higher R&D costs[45]. Shareholder Information - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2022[10]. - Major shareholders include Green Leaf Pharmaceutical Investment Limited, holding 1,257,196,703 shares (35.42%)[65]. - Hillhouse NEV Holdings Limited holds 552,324,108 shares, representing 15.56% of the company[65]. - The company has adopted a code of conduct for securities trading, confirming compliance by all directors for the six months ended June 30, 2022[59]. Corporate Governance - The company complied with all applicable corporate governance code provisions except for the separation of the roles of Chairman and CEO, which are held by the same individual[58]. - The audit committee reviewed the unaudited interim financial statements for the six months ended June 30, 2022, and recommended their adoption to the board[61].
绿叶制药(02186) - 2022 - 中期财报