Financial Performance - Revenue for the six months ended June 30, 2023, reached RMB 6,906,524 thousand, a 33.3% increase from RMB 5,181,925 thousand in the same period of 2022[6] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 71.2% to RMB 1,953,790 thousand, compared to RMB 1,140,996 thousand in the previous year[6] - Profit before tax surged by 95.0% to RMB 1,612,155 thousand, up from RMB 826,954 thousand year-over-year[6] - Net profit attributable to the owners of the company was RMB 1,284,496 thousand, reflecting a 104.0% increase from RMB 629,517 thousand in the prior year[6] - Basic earnings per share rose by 104.6% to RMB 70.69, compared to RMB 34.55 in the same period last year[6] - Total comprehensive income for the period amounted to RMB 1,285,591 thousand, compared to RMB 631,731 thousand in the previous year[16] - The company reported a significant increase in other income, totaling RMB 92,491 thousand, compared to RMB 72,641 thousand in the prior year[16] - The company’s pre-tax profit for the six months ended June 30, 2023, was RMB 1,612,155 thousand, compared to RMB 826,954 thousand for the same period in 2022, indicating a growth of approximately 95.1%[43] - Bank interest income increased to RMB 51,432 thousand, up from RMB 29,512 thousand, representing a growth of 74.2% year-over-year[47] - Total other income reached RMB 92,491 thousand, compared to RMB 72,641 thousand in the previous year, marking a 27.2% increase[47] Dividends and Shareholder Returns - The interim dividend per share was increased by 140.0% to RMB 12.0, up from RMB 5.0 in the previous year[6] - The total dividends declared for the period included a final dividend of RMB 0.14 per share, amounting to RMB 254,384,000, and a special dividend of RMB 0.109021 per share, totaling RMB 109,021,000, resulting in total dividends of RMB 363,405,000 for 2023, up from RMB 181,757,000 in 2022[63] - The interim dividend declared for the six months ended June 30, 2023, was RMB 0.12 per share, totaling RMB 218,043,000, compared to RMB 0.05 per share and RMB 90,879,000 in 2022[64] Assets and Liabilities - As of June 30, 2023, total assets amounted to RMB 13,212,085 thousand, an increase of 5.6% from RMB 12,514,946 thousand as of December 31, 2022[18] - Non-current assets reached RMB 6,557,875 thousand, up from RMB 6,464,679 thousand, reflecting a growth of 1.4%[18] - Current liabilities increased to RMB 7,063,733 thousand from RMB 7,033,027 thousand, indicating a slight rise of 0.4%[19] - The net asset value stood at RMB 11,531,617 thousand, representing a 8.7% increase from RMB 10,609,431 thousand[19] - The total equity attributable to owners of the company was RMB 11,530,528 thousand, reflecting a growth of 8.7% from RMB 10,608,086 thousand[19] - The company reported cash and cash equivalents of RMB 4,744,842 thousand, showing a marginal increase from RMB 4,743,071 thousand[18] - The deferred tax liabilities rose to RMB 251,296 thousand from RMB 194,069 thousand, marking a significant increase of 29.5%[19] - The company’s goodwill remained stable at RMB 3,031 thousand, unchanged from the previous period[18] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2023, was RMB 1,470,153 thousand, a significant increase from RMB 806,708 thousand in the same period of 2022, representing an increase of approximately 82%[25] - The company reported a net cash generated from operating activities of RMB 1,197,471 thousand for the first half of 2023, compared to RMB 659,552 thousand in the prior year, reflecting a growth of about 82%[25] - Cash used in investing activities amounted to RMB 381,558 thousand for the six months ended June 30, 2023, compared to RMB 125,527 thousand in the same period of 2022, indicating an increase in investment outflows[27] - The company recorded a significant increase in cash and cash equivalents at the end of the period, totaling RMB 4,744,842 thousand, up from RMB 4,037,956 thousand at the end of June 2022, marking an increase of approximately 17.5%[27] - The company incurred a financial cost of RMB 38,736 thousand in the first half of 2023, compared to RMB 21,802 thousand in the same period of 2022, representing an increase of about 77%[25] Revenue Breakdown - The revenue breakdown shows that the antibiotic products generated RMB 5,144,679 thousand, while insulin products contributed RMB 474,634 thousand for the six months ended June 30, 2023[38] - The revenue from the Chinese market (including Hong Kong) was RMB 5,544,083 thousand, up from RMB 4,129,014 thousand in the previous year, indicating a growth of about 34.4%[41] - The revenue from the Indian market increased to RMB 331,769 thousand in 2023 from RMB 204,031 thousand in 2022, marking a growth of approximately 62.5%[41] - The company’s total external customer revenue from Europe was RMB 431,526 thousand, up from RMB 308,533 thousand in the previous year, representing an increase of about 39.8%[41] - The segment revenue for intermediates was RMB 2,692,115 thousand, raw materials was RMB 3,849,116 thousand, and formulation products was RMB 2,436,110 thousand for the six months ended June 30, 2023[43] Research and Development - The company invested RMB 350,300,000 in drug research and development, a 44.4% increase year-on-year[103] - The company has 34 new human drug products in development, including 16 first-class new drugs[103] - The company is actively pursuing new drug research and development, aiming to enhance its industrialization capabilities and accelerate the commercialization process[112] Corporate Governance and Shareholder Engagement - The company has adopted high standards of corporate governance to protect shareholder interests and enhance group performance[126] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2023[129] - The board expresses gratitude to shareholders and partners for their support during the first half of 2023[131] Legal and Regulatory Matters - The company is awaiting a judgment from the Chengdu Intermediate People's Court regarding a lawsuit to recover approximately RMB 340,000,000 from Chengdu Evergrande[110] Employee and Director Compensation - Total employee costs, including director remuneration, rose to RMB 769,768 thousand, compared to RMB 642,765 thousand, an increase of 19.8%[59] - The total remuneration for directors for the six months ended June 30, 2023, was RMB 9,630,000, compared to RMB 9,242,000 for the same period in 2022[90]
联邦制药(03933) - 2023 - 中期财报