Financial Performance - Revenue for the six months ended June 30, 2023, reached RMB 7,968,747 thousand, an increase of 18.6% from RMB 6,719,500 thousand in the same period last year[21]. - Gross profit for the same period was RMB 817,177 thousand, reflecting a 31.3% increase compared to RMB 622,327 thousand in the previous year[21]. - The company reported a net loss of RMB (3,176,580) thousand for the period, a significant increase from RMB (644,330) thousand in the previous year[21]. - The company's revenue for the six months ended June 30, 2023, was RMB 7,968.7 million, with a gross profit of RMB 817.2 million, resulting in a gross margin of 10.3%, up from 9.3% in the same period of 2022[24]. - Revenue from the self-operated business increased significantly from RMB 6,408.3 million for the six months ended June 30, 2022, to RMB 7,521.8 million for the same period in 2023, driven by an expanded buyer base and increased buyer engagement[24]. - Platform business revenue rose by 50.6% from RMB 276.6 million to RMB 416.6 million, with GMV increasing from RMB 9.2 billion to RMB 13.5 billion[24]. - The company reported a total loss and comprehensive expenses of RMB 3,168,595 thousand for the period[96]. - The group reported a loss of RMB 3,168,595,000 for the six months ended June 30, 2023, compared to a loss of RMB 635,776,000 for the same period in 2022[119]. User Engagement and Growth - The company's total GMV reached RMB 22,041 million, representing a year-on-year growth of 34.4%[6]. - The number of registered buyers exceeded 589,000, including approximately 379,000 pharmacies and 211,000 primary medical institutions[6]. - The average monthly active buyers reached 353,000, a year-on-year increase of 17.6%[6]. - The average monthly paying buyers reached 331,000, reflecting a year-on-year growth of 22.5%[6]. - The paid buyer conversion rate increased from 89.9% to 93.6% year-on-year[6]. - The average number of orders per paying buyer increased from 25.2 to 28.4, a year-on-year increase of 12.7%[6]. - The company added approximately 38,000 new users in the grassroots medical sector, compared to 21,000 in the same period last year[18]. Business Operations and Expansion - The GMV from third-party merchants on the platform was RMB 13,541 million, accounting for 61.4% of total GMV, with a year-on-year growth of 46.6%[7]. - The average number of SKUs offered in self-operated business increased by 37.6% to approximately 347,000[8]. - The company has established a national network of 20 smart warehouses across 19 cities to enhance supply chain services[8]. - The company's self-operated business GMV reached RMB 7,973 million, representing a year-on-year growth of 18.8%[6]. - The company has partnered with over 10,700 grassroots medical institutions for its Spectral Cloud Inspection service, enhancing its user base[12]. - The company has signed sales cooperation agreements for its small micro-warehouse in 23 provincial-level administrative regions across the country[13]. - The company provided cloud business services to over 6,000 sellers, with an addition of more than 950 sellers during the reporting period[14]. Financial Position and Cash Flow - As of June 30, 2023, cash and cash equivalents amounted to RMB 985.6 million, an increase from RMB 835.4 million as of December 31, 2022[41]. - The net cash used in investing activities for the six months ended June 30, 2023, was RMB 434.0 million, primarily due to restricted deposits and purchases of financial assets[44]. - The net cash generated from financing activities for the six months ended June 30, 2023, was RMB 217.5 million, mainly attributed to proceeds from the initial public offering of approximately RMB 291.1 million[45]. - The operating cash flow for the six months ended June 30, 2023, was RMB 365.6 million, compared to an outflow of RMB 113.6 million in the same period of 2022[43]. - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 365,565 thousand, compared to a net cash outflow of RMB 113,626 thousand for the same period in 2022[98]. Shareholder Structure and Governance - As of June 30, 2023, major shareholder MIYT Holdings Limited holds 19.82% of the company's shares, totaling 125,316,184 shares[66]. - The company has a significant concentration of ownership among a few major shareholders, which may impact governance and decision-making[70]. - The company is controlled by several entities, with the largest single shareholder being Internet Fund V Pte. Ltd. at 12.65%[70]. - The company has adopted two share incentive plans to motivate employees, namely the 2019 and 2023 share incentive plans[51]. - The company has not granted any shares under the 2023 Share Incentive Plan as of June 30, 2023[77]. Research and Development - Research and development expenses rose by 11.3% from RMB 35.9 million to RMB 39.9 million, mainly due to increased employee-related costs for optimizing and upgrading technology systems[29]. - The company has provided online training to over 240,000 pharmacists and candidates as of June 30, 2023[15]. - Research and development efforts are allocated HKD 53.3 million, expected to be fully utilized by December 2025[63]. Legal and Compliance - The company has established a legal advisory relationship with Fangda Partners for Chinese legal matters[1]. - The company operates under the Securities and Futures Ordinance of Hong Kong[1]. - The company is subject to the International Financial Reporting Standards as issued by the International Accounting Standards Board[1].
药师帮(09885) - 2023 - 中期财报