Financial Performance - Total revenue for the nine months ended September 30, 2023, was RMB 23.87 billion, an increase of 1.6% compared to RMB 23.50 billion in the same period last year[3] - Shareholders' basic profit attributable to the company was RMB 4.95 billion, up 0.6% from RMB 4.47 billion year-on-year[3] - The company reported a net profit attributable to shareholders of RMB 4,494,641,000 for the nine months ended September 30, 2023, compared to RMB 4,467,837,000 for the same period in 2022, reflecting a slight increase[17] - The basic earnings attributable to shareholders for the same period was RMB 4,715,187,000, up from RMB 4,623,720,000 in 2022, indicating a growth of approximately 2%[17] - The company reported total comprehensive income of RMB 4,654,129 thousand, compared to RMB 4,681,430 thousand in the same period last year[20] - Net profit for the period was RMB 4,645,016 thousand, a slight increase from RMB 4,570,945 thousand in the prior year, resulting in a basic earnings per share of RMB 37.84[19][20] Revenue Breakdown - The pharmaceutical business generated revenue of RMB 19.34 billion, a 3.9% increase, despite a decline in sales of anti-tumor products[4] - Revenue from functional foods and others was RMB 1.65 billion, down 5.6% year-on-year[7] - The raw materials business reported a revenue of RMB 2.88 billion, a decrease of 8.2%, primarily due to weak pricing, with vitamin C sales down 23.5%[6] - Sales in the neurology segment increased by 15.2% to RMB 6.93 billion, while anti-tumor sales decreased by 21.2% to RMB 4.62 billion[5] - Sales of pharmaceutical products reached RMB 19,303,355 thousand, while vitamin C sales were RMB 1,512,917 thousand, indicating a strong performance in these categories[24] Research and Development - R&D expenses reached RMB 3.68 billion, a 25.9% increase, accounting for 19.0% of the pharmaceutical business revenue[7] - The company has approximately 60 key drugs in clinical or application stages, with 7 submitted for market approval[7] - New product approvals include a novel mRNA vaccine for COVID-19 and several new drugs for various cancers and conditions[8][9] - The company received clinical trial approvals for 15 innovative drugs and 13 new indications since the beginning of 2023[10] - The company initiated a Phase III clinical trial for Mingfule® (rhTNK-tPA) for treating acute ischemic stroke, showing non-inferiority to alteplase in efficacy[13] - The company initiated a Phase II clinical study for CM326 (TSLP antibody) in moderate to severe asthma, with the first patient enrolled in May 2023[13] - The company received drug registration approvals for seven generic drugs since the beginning of 2023, including Apremilast tablets and Mirabegron extended-release tablets[11] - CPO301 (antibody-drug conjugate) received clinical trial approval in the US in April 2023 and was granted Fast Track designation in June 2023[12] - The company signed an exclusive licensing agreement with Corbus Pharmaceuticals for SYS6002 (Nectin-4 ADC), receiving an upfront payment of $7.5 million and potential milestone payments totaling up to $1.3 billion[15] - The company has submitted 20 PCT international patent applications and received 58 patent grants since the beginning of 2023[14] Financial Costs and Expenses - The company reported a fair value loss of RMB 88,932,000 on financial assets measured at fair value through profit or loss for the nine months ended September 30, 2023[17] - The company recognized other income of RMB 464,997 thousand, up from RMB 336,615 thousand in the previous year, reflecting improved operational efficiency[19] - The financial cost for the period was RMB 16,877 thousand, a slight increase from RMB 15,000 thousand in the previous year[19] - The company reported total depreciation and amortization amounted to RMB 811,850,000, an increase of 11.2% from RMB 729,754,000 in the same period of 2022[27] - The share-based employee compensation expense for the nine months ended September 30, 2023, was RMB 169,297,000, up 28.1% from RMB 132,110,000 in the prior year[27] - Government grants recognized as other income decreased to RMB (168,065,000) for the nine months ended September 30, 2023, compared to RMB (80,578,000) in the same period of 2022[27] - Fair value losses on financial assets recognized in profit or loss were RMB 88,932,000 for the nine months ended September 30, 2023, significantly higher than RMB 26,113,000 in the previous year[27] - The net foreign exchange loss for the nine months ended September 30, 2023, was RMB (77,356,000), compared to RMB (125,359,000) in the same period of 2022, indicating an improvement[27] - The depreciation of property, plant, and equipment for the nine months ended September 30, 2023, was RMB 629,108,000, an increase of 7.5% from RMB 585,214,000 in the same period of 2022[27] - The amortization of intangible assets increased to RMB 53,594,000 for the nine months ended September 30, 2023, compared to RMB 33,108,000 in the same period of 2022, reflecting a growth of 61.9%[27] Corporate Governance and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[19] - The restructuring of operational categories aims to enhance business synergies and improve reporting efficiency[23] - The company’s financial data for the nine months ended September 30, 2023, was prepared based on internal records and management accounts and has not been reviewed or audited by external auditors[29] - The board of directors includes a diverse group of executives and independent non-executive directors, ensuring a broad range of insights and governance[29]
石药集团(01093) - 2023 Q3 - 季度业绩