Financial Performance - For the year ended December 31, 2022, the Group recorded revenue of approximately RMB1,277,682,000, representing an increase of 9.7% compared to 2021[9]. - Profit attributable to owners of the parent was approximately RMB358,057,000, reflecting a slight decrease of 0.03% compared to 2021[9]. - Excluding certain losses, the operating profit would be RMB380,292,000, which is an increase of 13.5% compared to 2021[11]. - The total loss from the investment in AD Pharmaceuticals Co., Ltd. was RMB61,905,000, compared to RMB46,418,000 in 2021[11]. - The Group's overall sales in 2022 increased by 9.7% compared to the previous year, reaching approximately RMB 1,277,682,000[50]. - Gross profit was approximately RMB773,551,000, an increase of 13.5%, with a gross profit margin of 60.5%, up from 58.5% in the previous year[123]. - The intermediates and bulk medicines segment reported a loss of RMB17,775,000, worsening from a loss of RMB2,296,000 in 2021[128]. - Profit attributable to owners of the parent was approximately RMB358,057,000, a slight decrease of RMB118,000 or 0.03% compared to RMB358,175,000 in 2021[132]. - The actual operating profit attributable to owners of the parent, excluding certain factors, was RMB380,292,000, an increase of 13.5% compared to RMB335,085,000 in 2021[132]. Sales and Market Performance - The increase in revenue was primarily due to a significant rise in sales volume of products won in centralized procurement, including Atorvastatin Calcium Tablets and Entecavir Dispersible Tablets[19]. - The sales amount of specific medicines increased significantly year-on-year, driven by the rise in sales of Entecavir Dispersible Tablets and Atorvastatin Calcium Tablets, along with increased demand for anti-pandemic materials[30]. - The sales volumes and amounts of Telmisartan Tablets and Losartan Potassium and Hydrochlorothiazide Tablets experienced significant year-on-year growth[30]. - The sales volume and amount of Entecavir Dispersible Tablets increased by 19.5% and 47.0% respectively compared to the same period in 2021[46]. - The sales of the anti-hypertensive product series reached RMB 549,229,000, accounting for 43.0% of the Group's total sales, showing an increase from RMB 520,414,000 in 2021[76]. - The sales of anti-hyperlipidemic products amounted to RMB 270,368,000 in 2022, representing 21.2% of the Group's total sales, up from RMB 255,059,000 in 2021[77]. - The antiviral products generated sales of RMB 133,005,000 in 2022, which is a significant increase from RMB 90,503,000 in 2021, accounting for 10.4% of the Group's total sales[78]. Dividends and Shareholder Returns - The Board recommended a final dividend of HK$0.073 per share, totaling approximately HK$109,412,000, an increase from HK$0.065 per share in 2021[25]. - The final dividend is subject to approval at the forthcoming 2023 Annual General Meeting[25]. - The annual dividend for the year is HK$0.088 per share, with a payout ratio of approximately 32.4%, reflecting a year-on-year increase of 5.1 percentage points[29]. - The proposed final dividend is HKD 0.073 per share, up from HKD 0.065 the previous year, with a total payout of approximately HKD 109,412,000[50]. Organizational Changes and Strategy - The Group underwent a reorganization, transferring 100% share interest in Fujian Dawnrays Pharmaceutical Co., Ltd. and Lanzhou Dawnrays Pharmaceutical Co., Ltd. to Suzhou Dawnrays Pharmaceutical Co., Ltd.[16]. - The Group's financial results reflect a strategic focus on expanding its product offerings in the pharmaceutical sector[19]. - The restructuring of the organization aims to enhance efficiency and improve opportunities for winning bids in national centralized procurement activities[39]. - The Group's organizational restructuring in 2022 aimed to improve efficiency and facilitate unified control, which is expected to enhance brand recognition and support future international development[64]. - The Group plans to focus on the development of innovative drugs and improve its competitiveness in response to changes in the centralized procurement rules, which have intensified market competition[65]. Research and Development - The establishment of an advanced technology research institute in June 2022 aims to optimize R&D resources and attract external talent for drug development[36]. - The establishment of the "Suzhou Dawnrays Pharmaceutical Advanced Technology Research Institute" aims to integrate R&D teams and enhance the Group's research capabilities[86]. - The Group's ongoing R&D projects cover various therapeutic areas, including bio-pharmaceuticals and innovative drugs, with a focus on maximizing the benefits of research resources[85]. - As of December 31, 2022, the Group conducted quality and efficacy research into 31 varieties and submitted applications for consistency evaluation for 7 varieties to the Center for Drug Evaluation, NMPA[89]. - In 2022, the Group registered a total of 9 varieties, including 5 consistency evaluation approvals and 2 supplementary application approvals[92]. - The Group's pharmaceutical research into 10 varieties is ongoing, indicating a commitment to innovation and product development[89]. Financial Position and Investments - The Group's cash and bank balance was approximately RMB811,682,000, an increase from RMB577,744,000 as of December 31, 2021[162]. - The net cash inflows from operating activities for the year were approximately RMB434,266,000, compared to RMB393,139,000 in 2021, representing an increase of 10.5%[162]. - The Group's trade receivables increased by 16.0% to approximately RMB208,828,000 as of December 31, 2022, up from RMB180,017,000 in 2021, mainly due to increased sales[162]. - The inventory balance as of December 31, 2022, was approximately RMB241,746,000, an increase of RMB38,270,000 from RMB203,476,000 in 2021, primarily due to stocking of bulk medicines[163]. - The Group's debt ratio was 0.18% as of December 31, 2022, down from 0.6% in 2021, indicating improved financial stability[162]. - The Group's aggregate bank facilities amounted to approximately RMB1,370,000,000 as of December 31, 2022, compared to RMB1,100,000,000 in 2021[162]. - The Group's net cash outflows from investing activities were approximately RMB175,013,000 in 2022, a decrease from RMB284,202,000 in 2021[162]. Employee and Operational Metrics - The total employee count increased to approximately 1,106 in 2022 from 1,065 in 2021, with total remuneration rising to approximately RMB 183,630,000 from RMB 172,023,000[198]. - The increase in employee costs was primarily due to staff increase and salary adjustments[198]. - The Group's total expenses for the year were approximately RMB360,186,000, an increase of RMB28,786,000 from RMB331,400,000 in the previous year, accounting for 28.2% of turnover[152]. - The selling expense ratio for the year was 11.2%, reflecting an increase in selling expenses by RMB33,703,000 compared to the previous year[152].
东瑞制药(02348) - 2022 - 年度财报