Financial Performance - The company's revenue for the year ended December 31, 2022, was RMB 6,859.4 million, representing a 7.5% increase from RMB 6,382.0 million in 2021[5] - Gross profit for the same period was RMB 5,671.9 million, with a gross margin of 82.7%[5] - Normalized EBITDA increased to RMB 2,162.8 million, reflecting a growth of 25.2% compared to the previous year[2] - Net profit attributable to the parent company was RMB 1,914.9 million, up from RMB 1,651.2 million in 2021, marking a year-on-year increase of 16.0%[5] - Total customer contract revenue for 2022 reached RMB 6,859,433 thousand, an increase of 7.46% from RMB 6,382,009 thousand in 2021[21] - Revenue from the sale of biopharmaceuticals was RMB 6,693,558 thousand in 2022, up from RMB 6,271,104 thousand in 2021, reflecting a growth of 6.73%[22] - Revenue from contract development and manufacturing operations increased to RMB 165,875 thousand in 2022, compared to RMB 110,905 thousand in 2021, marking a growth of 49.6%[22] - Other income for 2022 amounted to RMB 233,010 thousand, an increase of 51.0% from RMB 154,258 thousand in 2021[25] - The pre-tax profit for the group was RMB 355,885 thousand in 2022, compared to RMB 184,023 thousand in 2021, representing an increase of 93.1%[27] - The group’s interest income rose significantly to RMB 150,655 thousand in 2022 from RMB 74,448 thousand in 2021, an increase of 102.5%[25] Assets and Liabilities - Total current assets increased to RMB 9,760.9 million from RMB 7,790.7 million in the previous year[9] - Non-current assets rose to RMB 12,227.8 million, compared to RMB 11,421.9 million in 2021[9] - Total equity increased to RMB 15,400.5 million from RMB 14,657.8 million in the previous year[12] - The company’s cash and cash equivalents decreased to RMB 2,150.3 million from RMB 2,868.1 million in the previous year[8] - The total trade receivables as of the end of 2022 were RMB 1,282,926,000, a decrease from RMB 1,346,626,000 in 2021[34] - Trade payables and notes payable totaled RMB 249,495,000, an increase from RMB 230,407,000 in the previous year[39] - The company has bank loans totaling RMB 4,065,483,000, with a range of interest rates from 1.48% to 6.27%[40] - The total interest-bearing bank borrowings increased to approximately RMB 2,265.0 million as of December 31, 2022, from approximately RMB 314.3 million as of December 31, 2021, reflecting an increase of RMB 2,081.8 million in new bank loans[96] - The group's leverage ratio increased from approximately 2.1% as of December 31, 2021, to approximately 14.7% as of December 31, 2022, primarily due to the increase in bank borrowings[97] Market and Product Development - The company operates solely in the biopharmaceutical sector, focusing on the development, production, marketing, and sales of biopharmaceutical products[19] - The company’s core products include Tevazo, which holds a 64.8% market share in the platelet reduction therapy market in China[43] - The company has a 44.5% market share in the rhEPO market, maintaining its leadership for over 20 years[43] - The company’s product, Mandi, dominates the minoxidil market with a 71.7% market share[43] - The company has initiated a contract development and manufacturing operations (CDMO) business to enhance revenue since December 2021[43] - The 5% minoxidil foam application for androgenetic alopecia has been accepted by the National Medical Products Administration, aiming to be the first approved minoxidil foam product in mainland China[45] - The company has entered into a licensing agreement with Cosmo Pharmaceuticals for the exclusive rights to develop and commercialize Winlevi® in Greater China, along with a right of first refusal for Breezula®[48] - The company has 31 products in active development, with 26 of them being innovative drugs in mainland China[68] - The company is actively developing innovative biological products, including monoclonal antibodies and small molecule drugs targeting various diseases such as kidney disease, tumors, and autoimmune diseases[68] Research and Development - R&D costs decreased to approximately RMB 693.2 million, down about RMB 60.7 million or approximately 8.1% year-over-year, with an R&D cost ratio of about 10.1%[86] - The company has a research team of nearly 600 experienced scientists focused on accelerating clinical development and seeking breakthrough therapies[67] - The company plans to initiate Phase III clinical trials for Peg-EPO (RD-01) in the second half of 2023 after completing discussions with the National Medical Products Administration[71] - The company has completed patient enrollment for the Phase III clinical trial of NuPIAO (SSS06) by the end of 2022[71] - The Phase II trial for the anti-IL17A monoclonal antibody (608) in plaque psoriasis patients has achieved its primary endpoint, with Phase III enrollment expected to complete in the first half of 2023[71] Shareholder Returns and Dividends - The company proposed a final dividend of HKD 0.10 per share for the year ended December 31, 2022[2] - The board proposed a final dividend of HKD 0.10 per share for the year ended December 31, 2022, down from HKD 0.20 per share for the previous year[104] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed and approved the accounting principles and practices adopted by the group during the reporting period[112] - Ernst & Young confirmed that the financial data in the preliminary performance announcement was consistent with the draft consolidated financial statements, although no formal audit was conducted[113]
三生制药(01530) - 2022 - 年度业绩