Financial Performance - The total revenue for the six months ended June 30, 2023, was RMB 9,302,957 thousand, representing a 57.4% increase compared to RMB 5,911,638 thousand for the same period in 2022[2]. - The revenue from traditional Chinese medicine granules reached RMB 4,930,591 thousand, a significant increase of 78.5% from RMB 2,761,603 thousand in the previous year[2]. - Gross profit for the period was RMB 4,757,976 thousand, reflecting a 61.2% increase from RMB 2,951,871 thousand in the prior year[3]. - The net profit attributable to equity holders of the company was RMB 578,742 thousand, up 39.9% from RMB 413,588 thousand in the same period last year[4]. - Basic earnings per share increased to RMB 11.49, a rise of 40.0% compared to RMB 8.21 in the previous year[4]. - The company reported a total comprehensive income of RMB 624,763 thousand for the period, compared to RMB 422,789 thousand in the same period of 2022[4]. - The total profit for the period was RMB 616,960 thousand, after accounting for unallocated corporate expenses of RMB 22,204 thousand[13]. - The group's profit before tax for the six months ended June 30, 2023, was RMB 578,742,000, compared to RMB 413,588,000 for the same period in 2022, representing an increase of approximately 39.9%[27]. - The cost of goods sold for the six months ended June 30, 2023, was RMB 4,544,981,000, up from RMB 2,959,767,000 in the same period of 2022, indicating a significant increase of approximately 53.5%[23]. - Total tax expense for the period was RMB 89,852,000, compared to RMB 48,231,000 in the previous year, reflecting an increase of approximately 86.2%[25]. Assets and Liabilities - Non-current assets as of June 30, 2023, amounted to RMB 17,458,848 thousand, compared to RMB 15,353,000 thousand at the end of 2022[5]. - Current liabilities totaled RMB 10,876,481 thousand, an increase from RMB 10,102,784 thousand at the end of the previous year[5]. - The company's total equity as of June 30, 2023, was RMB 23,340,398 thousand, compared to RMB 22,946,602 thousand at the end of 2022[6]. - Total assets as of June 30, 2023, amounted to RMB 38,415,483 thousand, with the "Yifang" segment holding assets of RMB 18,059,355 thousand[13]. - Total liabilities were reported at RMB 15,075,085 thousand, with the "Yifang" segment's liabilities at RMB 7,256,286 thousand[13]. - As of June 30, 2023, total inventory was RMB 5,625,330,000, a decrease from RMB 6,039,880,000 as of December 31, 2022, representing a reduction of approximately 6.9%[30]. - Accounts receivable as of June 30, 2023, amounted to RMB 10,290,844,000, compared to RMB 8,141,891,000 as of December 31, 2022, indicating an increase of approximately 26.4%[31]. - The company's accounts payable as of June 30, 2023, was RMB 5,780,359,000, compared to RMB 5,232,179,000 as of December 31, 2022, reflecting an increase of approximately 10.5%[33]. - The group's net asset value increased to approximately RMB 10,080,154,000 as of June 30, 2023, compared to RMB 7,863,892,000 as of December 31, 2022[83]. Research and Development - The company continues to invest in research and development, with R&D expenses amounting to RMB 313,614 thousand for the period[3]. - The group incurred research and development costs of RMB 313,614,000 for the six months ended June 30, 2023, compared to RMB 317,534,000 in the same period of 2022[23]. - The group applied for 95 patents during the reporting period, including 3 PCT patents and 56 invention patents, with 48 patents granted[49]. - The company is committed to advancing scientific innovation and addressing key research challenges in the development of traditional Chinese medicine[61]. Market and Product Development - The company continues to focus on expanding its product offerings in traditional Chinese medicine and health products across its various brands[11]. - The company has completed the listing of 523 varieties of TCM granules, maintaining the industry’s leading position[42]. - The company developed over 1,000 new medical institutions for TCM products during the reporting period, enhancing terminal sales[43]. - The revenue from TCM health products was approximately RMB 94,243,000, reflecting a year-on-year growth of 95.0%[37]. - The group plans to enhance its core competitiveness by implementing a collaborative development strategy and leveraging its full industry chain advantages in the second half of 2023[60]. - The company aims to strengthen its digital transformation initiatives, including the implementation of the "Digital Traditional Chinese Medicine" project and the establishment of a digital management system[61]. - The group will continue to expand its production and operation scale of Chinese medicinal materials and enhance internal supply chain coordination[61]. Compliance and Governance - The company applied new and revised Hong Kong Financial Reporting Standards during the reporting period, which did not have a significant impact on financial performance[10]. - The group established a chief compliance officer role to strengthen compliance management and legal risk prevention[55]. - The group has optimized the traditional Chinese medicine quality traceability management platform and obtained software copyright registration[52]. Corporate Actions - The group did not recommend an interim dividend for the six months ended June 30, 2023, while the proposed final dividend for 2022 was HKD 0.0518 per share, totaling approximately RMB 235,995,000[26]. - 蕢凯频先生辞任非执行董事，自2023年8月29日起生效[95]. - 董事会由十一名董事组成，包括三名执行董事和七名非执行董事[96].
中国中药(00570) - 2023 - 中期业绩