Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 5,181,925 thousand, representing a 9.8% increase from RMB 4,719,054 thousand in the same period of 2021[5] - Profit before tax increased by 14.5% to RMB 826,954 thousand, compared to RMB 722,204 thousand in the previous year[5] - Basic earnings per share rose by 2.0% to RMB 34.55, up from RMB 33.86 in the prior year[5] - The interim dividend per share increased by 25.0% to RMB 5.0, compared to RMB 4.0 in the previous year[5] - Total comprehensive income for the period was RMB 631,731 thousand, slightly up from RMB 625,092 thousand in the previous year[36] - The company reported a net profit attributable to owners of the company of RMB 629,517 thousand, compared to RMB 624,618 thousand in the previous year[36] Revenue Breakdown - The revenue breakdown shows that the intermediates segment generated RMB 1,962,872 thousand, raw materials contributed RMB 2,858,724 thousand, and formulation products accounted for RMB 1,887,652 thousand[61] - Revenue from the Chinese market (including Hong Kong) reached RMB 4,129,014 thousand, up from RMB 3,522,480 thousand in the previous year, indicating a growth of approximately 17.2%[57] - The antibiotics product line generated revenue of RMB 3,489,861 thousand, which includes RMB 2,550,260 thousand from raw materials and RMB 939,601 thousand from formulation products[54] - The insulin product line contributed RMB 575,021 thousand to the total revenue, indicating a stable performance in this segment[54] - The company’s other revenue sources, including intermediates and other products, totaled RMB 722,507 thousand for the period[54] Expenses and Costs - Research and development expenses totaled RMB 242,607 thousand, compared to RMB 203,165 thousand in the previous year[36] - Employee costs, including director remuneration, totaled RMB 642,765,000 for the first half of 2022, up from RMB 620,602,000 in the previous year, representing a 3.5% increase[72] - The company incurred a financial cost of RMB 21,802 thousand, down from RMB 32,361 thousand in the previous year, reflecting a decrease of 32.5%[43] - The depreciation of property, plant, and equipment was RMB 278,560 thousand, a slight decrease from RMB 291,592 thousand in the previous year, showing a trend of stable asset management[43] Assets and Liabilities - Non-current assets totaled RMB 6,375,102 thousand as of June 30, 2022, a slight increase from RMB 6,344,787 thousand as of December 31, 2021, representing a growth of approximately 0.48%[37] - Current assets increased to RMB 10,979,337 thousand from RMB 9,986,332 thousand, reflecting a growth of about 9.95% year-over-year[37] - Total liabilities amounted to RMB 9,749,193 thousand, up from RMB 9,339,908 thousand, indicating an increase of approximately 4.40%[38] - The company's equity attributable to owners was RMB 9,749,777 thousand, compared to RMB 9,340,492 thousand, marking a rise of around 4.38%[38] Cash Flow - The net cash generated from operating activities was RMB 659,552 thousand, down 23.8% from RMB 866,113 thousand in the previous year[45] - The total cash and cash equivalents at the end of the period increased to RMB 4,037,956 thousand, compared to RMB 3,526,158 thousand at the end of the same period last year, reflecting a growth of 14.5%[45] - The cash used in investing activities was RMB 125,527 thousand, significantly reduced from RMB 368,604 thousand in the previous year, indicating a decrease of 66.0%[45] - The net cash generated from financing activities was RMB 171,748 thousand, a substantial increase from RMB 31,177 thousand in the same period last year[45] Market Strategy and Growth - The company continues to focus on expanding its market presence, particularly in the Chinese and European markets, which are showing significant growth potential[57] - The company aims to enhance its market share and brand influence in the diabetes product sector, focusing on domestic alternatives[112] - The company plans to strengthen international cooperation and project introduction to enhance its competitiveness in the biopharmaceutical industry[114] - The company is the second domestic enterprise to obtain clinical trial approval for its biosimilar insulin product, marking a significant breakthrough in diabetes drug development[114] Corporate Governance and Compliance - The company has adopted the corporate governance code and has complied with the relevant rules during the reporting period[129] - The audit committee has reviewed the unaudited condensed consolidated financial report for the six months ended June 30, 2022[135] - The company has confirmed compliance with the standards set for directors' trading in the company's securities during the reporting period[129] Shareholder Information - The company declared an interim dividend of RMB 0.05 per share for the six months ended June 30, 2022, totaling RMB 90,879,000, compared to RMB 73,616,000 for the same period in 2021, marking a 23.4% increase[76] - During the six-month period ending June 30, 2022, the company repurchased a total of 11,916,000 shares at a total cost of approximately HKD 49,780,000[127] - Heren Far East Limited holds 49.42% of the company's issued share capital, totaling 898,250,000 shares[125]
联邦制药(03933) - 2022 - 中期财报