Financial Performance - The company reported a revenue of HKD 1,706,556,141 for the year ending December 31, 2023, representing a 29.5% increase from HKD 1,317,710,616 in 2022[9]. - Net profit for the year was HKD 275,259,617, up 22.1% from HKD 225,411,310 in the previous year[9]. - The diluted earnings per share increased to HKD 48.27 from HKD 39.27, marking a 22.9% growth[14]. - The total comprehensive income for the year was HKD 414,769,744, compared to HKD 351,299,679 in 2022, representing an increase of about 18.1%[47]. - The reported segment profit for the ophthalmology division was HKD 186,481,635, compared to HKD 159,844,796 in the previous year, reflecting an increase of about 16.7%[46]. - The group’s net profit attributable to owners for the year ended December 31, 2023, is approximately HKD 275,300,000, with basic and diluted earnings per share of HKD 0.4827 and HKD 0.4690, respectively[200]. Expenses and Costs - Administrative expenses increased to approximately HKD 217,000,000, compared to HKD 156,000,000 in 2022, primarily due to costs associated with expanding operations in the US and Singapore, and the establishment of an online medical consultation platform[6]. - The company’s operating expenses, including distribution and administrative costs, totaled HKD 1,228,963,269, up from HKD 914,189,203 in 2022, reflecting an increase of approximately 34.4%[35]. - The cost of inventory for the year ended December 31, 2023, was HKD 163,893,660, compared to HKD 115,850,893 in 2022, reflecting a significant increase of approximately 41.4%[52]. - Research and development costs recognized as expenses for the year ended December 31, 2023, amounted to HKD 39,144,729, up from HKD 23,507,775 in 2022, indicating a growth of about 66.5%[52]. Assets and Liabilities - Total assets increased by 4.2% to HKD 2,827,558,498 from HKD 2,712,397,133 in 2022[14]. - The company's cash and cash equivalents decreased to HKD 509,845,284 from HKD 543,486,017, reflecting a 6.2% decline[14]. - The current ratio decreased to 1.54 from 2.16, indicating a reduction in short-term liquidity[14]. - Accounts receivable increased to HKD 567,307,763 in 2023 from HKD 451,244,095 in 2022, reflecting a growth of approximately 25.7%[103]. - The group’s total liabilities for accounts payable increased to HKD 567,307,763 in 2023 from HKD 451,244,095 in 2022, indicating a significant rise in obligations[107]. Dividends - The company declared a total dividend of HKD 9.0 cents per share, up from HKD 6.5 cents per share in the previous year, reflecting a 38.5% increase[14]. - The proposed final dividend per share for 2023 is HKD 0.045, an increase from HKD 0.025 in 2022, representing an 80% increase[79]. Strategic Focus and Development - The company plans to continue exploring new product development and market expansion strategies in the ophthalmic sector[5]. - The company’s strategic focus includes expanding its product offerings in the ophthalmology and surgical segments, with ongoing development of new products and technologies[46]. - The group has a five-year R&D plan initiated in 2021 to enhance its capabilities and position in the ophthalmology field[151]. - The group has 16 research and development projects in various stages, with 4 ophthalmology projects currently in clinical stages, which are considered mid-term growth drivers[153]. Acquisitions and Partnerships - The company acquired patents and proprietary technology related to ophthalmic products from Mitotech, enhancing its ability to develop new ophthalmic indications[5]. - The acquisition of rights related to SkQ1 from Mitotech S.A. was completed in 2022, enhancing the company's portfolio in ophthalmology[88]. - The company entered into a co-development and exclusive licensing agreement with Shanghai Junshi Biosciences Co., Ltd., committing to fund 80% of the development costs for a VEGF-inhibiting pharmaceutical product[88]. - The group has secured exclusive global rights to develop and market products related to SkQ1 through a patent transfer agreement with Mitotech[171]. Market and Product Insights - The ophthalmology segment contributed approximately HKD 753,400,000 to the group's revenue for the year ended December 31, 2023, an increase of 36.1% compared to 2022[190]. - The surgical segment recorded total revenue of approximately HKD 953,200,000 for the year ended December 31, 2023, an increase of 24.7% compared to 2022[190]. - The bFGF series of products accounted for approximately 86.8% of the group's total revenue during the review period[166]. - The potential market size for the anti-VEGF product is significant, with an estimated 15,800,000 patients in China for related conditions[144]. Recognition and Awards - The company was recognized as one of the top 100 innovative enterprises in Zhuhai and received multiple awards for its contributions and investor relations[146][147]. - The group has been recognized for its flagship biopharmaceutical products, with Beifu Shou® ranking on the China Pharmaceutical Brand List for five consecutive years[178].
亿胜生物科技(01061) - 2023 - 年度业绩