Financial Performance - For the year ended December 31, 2022, the group's net profit was RMB 195,530,000, an increase of 20.9% compared to RMB 161,750,000 for the year ended December 31, 2021[34]. - The group's adjusted profit for the year ended December 31, 2022, was RMB 224,052,000, up 12.0% from RMB 200,048,000 for the year ended December 31, 2021, primarily due to increased demand for IVD products and improved gross margins[36]. - Total comprehensive income for the year amounted to RMB 237,615,000, compared to RMB 146,796,000 in the previous year, indicating a significant increase[74]. - The company reported revenue of RMB 2,748,809,000 for the year ended December 31, 2022, representing a growth of 0.7% compared to RMB 2,730,670,000 in 2021[70]. - Adjusted net profit attributable to shareholders rose by 11.1% to RMB 228,504,000, compared to RMB 205,706,000 in 2021[68]. - Gross profit for the year ended December 31, 2022, was RMB 608,141,000, an increase of 7.4% from RMB 566,268,000 for the year ended December 31, 2021[55]. - The gross profit margin for the year ended December 31, 2022, was 22.1%, up from 20.7% for the year ended December 31, 2021[55]. Revenue and Sales - Revenue from customer contracts, including sales of goods and after-sales services, was RMB 2,575,382,000 in 2022, compared to RMB 2,584,320,000 in 2021[94]. - Revenue from IVD analysis instruments distribution business was RMB 360,620,000, down 7.1% from RMB 388,011,000 in the previous year[159]. - Revenue from IVD reagents and other consumables distribution business increased by 0.9%, totaling RMB 2,219,388,000 compared to RMB 2,199,776,000 in 2021[159]. - Revenue from distributors in the distribution business was RMB 2,171,726,000, accounting for 84.1% of total revenue, with a slight increase of 0.8% from RMB 2,154,139,000 in 2021[161]. - The revenue from solution services provided to clinical laboratories in hospitals was RMB 205,406,000 for the year ended December 31, 2022, a decrease of 0.7% compared to RMB 206,949,000 for the previous year[125]. Expenses and Costs - The group's administrative expenses decreased by 16.8% to RMB 152,917,000 for the year ended December 31, 2022, down from RMB 183,850,000 for the year ended December 31, 2021[32]. - The sales cost for the year ended December 31, 2022, was RMB 2,140,668,000, a decrease of 1.1% from RMB 2,164,402,000 in 2021, primarily due to lower purchase prices for IVD analysis instruments[163]. - The sales cost for the distribution business was RMB 2,067,379,000, representing 96.6% of total sales cost, a decrease of 0.9% from the previous year[164]. - The group's financing costs for the year ended December 31, 2022, were RMB 30,580,000, a 49.7% increase from RMB 20,422,000 for the year ended December 31, 2021, mainly due to rising bank borrowing rates[33]. Assets and Liabilities - The total equity attributable to the company's owners as of December 31, 2022, was RMB 3,153,386,000, an increase from RMB 2,978,865,000 as of December 31, 2021[40]. - The group's net current assets as of December 31, 2022, were RMB 1,529,474,000, an increase of RMB 153,570,000 from RMB 1,375,904,000 as of December 31, 2021[42]. - The company's capital reserve increased from RMB 2,974,233,000 in 2021 to RMB 3,148,749,000 in 2022, reflecting a growth of around 5.8%[78]. - The company reported a decrease in current liabilities to RMB 945,164,000 from RMB 1,155,899,000, improving its net current asset position[76]. - The company's non-current liabilities decreased slightly from RMB 218,050,000 in 2021 to RMB 215,649,000 in 2022, a reduction of approximately 1.8%[78]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.05556 per share for the year ended December 31, 2022, with an estimated total payout of approximately RMB 66,206,000 from the share premium account[21]. - The company plans to distribute a final dividend of HKD 0.05556 per share, subject to approval at the upcoming annual general meeting[70]. Corporate Governance and Compliance - The group has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which are held by the same individual[14]. - The company has maintained its compliance with International Financial Reporting Standards (IFRS) and has not reported any significant impacts from the adoption of revised standards during the year[87]. Market and Industry Insights - The IVD market in China is expected to reach RMB 278.7 billion by 2027, with a compound annual growth rate (CAGR) of 15.7% from 2021 to 2027[129]. - The coagulation analysis IVD market in China was valued at RMB 5 billion in 2021, with the top three market participants holding a combined market share of 77.7%[129]. - The group aims to expand its product portfolio and distribution network to capture the high growth potential of the IVD market[132]. Employee and Operational Metrics - As of December 31, 2022, the group employed 755 staff, an increase from 743 staff as of December 31, 2021[6]. - The total employee compensation expenses for the year ended December 31, 2022, amounted to RMB 177,517,000, a decrease from RMB 198,313,000 for the year ended December 31, 2021[6].
华检医疗(01931) - 2022 - 年度业绩