Financial Performance - The group's revenue increased by approximately RMB 167.5 million or 53.7% to approximately RMB 479.6 million for the six months ended June 30, 2023, compared to the same period in 2022[12] - The group's gross profit rose by approximately RMB 135.0 million or 59.5% to approximately RMB 362.1 million for the same period[12] - EBITDA increased by approximately RMB 82.1 million or 82.8% to approximately RMB 181.2 million for the six months ended June 30, 2023[12] - Profit attributable to equity holders increased by approximately RMB 65.4 million or 115.3% to approximately RMB 122.1 million for the same period[12] - For the six months ended June 30, 2023, the company's revenue was approximately RMB 479.6 million, an increase of about RMB 167.5 million or 53.7% compared to RMB 312.1 million for the same period in 2022[31] - Revenue from the sales of Golden Throat lozenges (OTC) was approximately RMB 428.1 million, up RMB 149.0 million or 53.4% from RMB 279.1 million in the prior year[31] - The gross profit for the six months ended June 30, 2023, increased to approximately RMB 362.1 million, a rise of about RMB 135.0 million or 59.5% from RMB 227.1 million in the same period of 2022, with a gross margin of 75.5%[35] - Net profit for the six months ended June 30, 2023, was approximately RMB 122.1 million, an increase of about RMB 65.4 million or 115.3% compared to RMB 56.7 million for the same period in 2022[42] - The company achieved a profit before tax of RMB 155,177,000, which is a 105.5% increase compared to RMB 75,639,000 in the previous year[68] - The company reported a total comprehensive income of RMB 132,955,000 for the period, significantly higher than RMB 58,768,000 in the previous year[71] Market and Product Development - The company is a leading manufacturer of throat lozenges in China, with a history dating back to 1956[7] - The company focuses on the production and sale of throat lozenges and other pharmaceuticals and food products[7] - The company aims to expand its market presence and enhance product offerings in the future[12] - The group has a strong commitment to research and development for new products and technologies[12] - For the six months ended June 30, 2023, the sales revenue of Golden Throat Holdings Group was approximately 89.2% from its flagship product, Golden Throat Lozenges (OTC) [19] - The sales revenue from the Golden Throat Lozenges (OTC) increased compared to the same period in 2022, reflecting a continued growth trend in market demand post-COVID-19 [18] - The Golden Throat Lozenges (OTC) have been exported to five continents, including the USA, Canada, EU, Australia, Southeast Asia, Middle East, Mexico, Mongolia, and Africa as of June 30, 2023 [19] - The Golden Throat Treasure series products accounted for approximately 10.3% of total revenue for the six months ended June 30, 2023, with exports to 22 countries and regions [20] - The company has developed 35 new products since 1994, with 8 classified as pharmaceuticals and 21 as food products, showcasing its strong R&D capabilities [22] - New products include Golden Throat Probiotic Tablets, developed in collaboration with Beijing Agricultural University, targeting the Chinese market's need for domestically developed probiotics [21] - The company plans to enhance its product offerings and market share in the throat lozenge sector while continuing to innovate in gene drugs, traditional Chinese medicine, and health foods[29] Operational Efficiency and Expansion - The company completed the relocation to a new drug production and R&D base in Liuzhou, Guangxi, with a total area of approximately 60,000 square meters, enhancing production efficiency and product quality[30] - The second phase of the new base, covering 48 acres and expected to have a built-up area of about 50,000 square meters, is planned to start construction by the end of Q3 2023[30] - The company has established a comprehensive national sales and distribution network covering all provinces, autonomous regions, and municipalities in China as of June 30, 2023 [24] - The company continues to expand its market presence by strengthening partnerships with key distributors and chain pharmacies in 2023 [24] - The company is expanding its online sales channels, including the WeChat mini-program launched in early 2020, anticipating breakthroughs in e-commerce[29] - The company aims to strengthen its brand recognition and image in China, promoting its Golden Throat brand as a household name for effective and safe throat lozenges[29] - The company will increase advertising through broader internet media coverage to enhance market promotion and collaboration with distributors for targeted marketing activities[29] Financial Position and Management - As of June 30, 2023, the group's current assets net value was approximately RMB 938.9 million, down from RMB 1,060.1 million as of December 31, 2022[43] - Total interest-bearing bank loans and other borrowings as of June 30, 2023, were approximately RMB 261.0 million, a decrease of about RMB 11.6 million or 4.3% from RMB 272.6 million as of December 31, 2022[44] - The debt-to-equity ratio increased from approximately 17.7% as of December 31, 2022, to about 18.3% as of June 30, 2023[45] - The group employed a total of 860 full-time employees as of June 30, 2023, down from 937 full-time employees as of June 30, 2022[47] - The company reported a net cash flow from operating activities for the six months ended June 30, 2023, of RMB 257,230,000, representing a significant increase from RMB 124,926,000 in the same period of 2022[76] - The total liabilities decreased to RMB 1,223,218,000 as of June 30, 2023, compared to RMB 1,469,300,000 at the end of 2022, reflecting a reduction of 16.8%[73] - The company's cash and cash equivalents stood at RMB 895,958,000, slightly up from RMB 895,515,000 at the end of 2022[73] - The total equity attributable to owners of the parent company was RMB 1,428,873,000, down from RMB 1,539,111,000, marking a decrease of 7.2%[74] - The company declared a dividend of RMB 243,193,000 for the year-end 2022, impacting the retained earnings[75] Corporate Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code during the six months ending June 30, 2023[54] - The board believes that existing risk management and internal control systems are effective and adequate[57] - The company has not granted any share options under its share option scheme since its adoption in June 2017[63] - There were no changes in the information of directors and senior management that required disclosure since the last annual report[67] Related Party Transactions - The company engaged in related party transactions with Guangxi Changbao Biotechnology Co., Ltd., purchasing products worth RMB 2,227,000 during the six months ended June 30, 2023, compared to RMB 363,000 in the same period of 2022, representing a significant increase[97] - The outstanding balance receivable from related parties was RMB 2,671,000 as of June 30, 2023, up from RMB 510,000 as of December 31, 2022[98] - The outstanding balance payable to a director was RMB 2,533,000 as of June 30, 2023, compared to RMB 236,000 as of December 31, 2022[98] - The outstanding balance payable to related parties was RMB 870,000 as of June 30, 2023, slightly up from RMB 867,000 as of December 31, 2022[98]
金嗓子(06896) - 2023 - 中期财报