Financial Performance - The company's revenue for 2023 was RMB 44,840,000, compared to RMB 25,363,000 in 2022, representing a significant increase of 76.8%[5] - The basic earnings per share for 2023 was RMB 162,775,000, up from RMB 106,387,000 in 2022, indicating a growth of 53.0%[13] - The pre-tax profit for the group was RMB 831,669,000, up from RMB 753,640,000 in the previous year, reflecting an increase of 10.3%[26] - Profit attributable to the owners of the parent company rose by approximately 53.0% to RMB 162.8 million[40] - The net profit attributable to the parent company increased by 53.0% to RMB 162.8 million, with a net profit margin of 7.9% compared to 5.8% in the previous year[68] - The company reported a net profit of RMB 164,134 thousand for the year, up from RMB 106,915 thousand in the previous year[123] Income and Expenses - The total income tax expense for 2023 was RMB 43,447,000, compared to RMB 23,736,000 in 2022, reflecting an increase of 83.2%[7] - Selling and distribution expenses increased by approximately 9.7% to RMB 888.2 million, maintaining a stable ratio of approximately 43.3% of revenue[64] - Administrative expenses rose by approximately 1.8% to RMB 106.7 million, mainly due to depreciation expenses related to the retail pharmacy headquarters[66] - Research and development costs increased to RMB 49,982,000 from RMB 46,350,000, representing a growth of 5.6%[26] - Research and development expenses increased by approximately 7.8% to RMB 50.0 million, driven by direct investments and collaborative R&D costs[67] Dividends - The company declared an interim dividend of 6 HKD cents per share for 2023, compared to 0 in 2022, marking a return to dividend payments[9] - The proposed final dividend for the year ending December 31, 2023, is HKD 0.03 per share, down from HKD 0.06 in 2022, with a special dividend of zero, down from HKD 0.03 in 2022[101] - The company declared a total dividend of HKD 0.09 per share, unchanged from the previous year, despite a reduction in the final dividend[115] Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 2,102,148 thousand, compared to RMB 1,875,257 thousand in 2022[129] - The total liabilities decreased to RMB 1,048,815 thousand from RMB 1,069,308 thousand in the previous year, indicating improved financial stability[129] - The total lease liabilities as of December 31, 2023, were RMB 124,845,000, a decrease from RMB 134,829,000 in 2022, showing a reduction of 7.3%[17] - Trade payables amounted to RMB 140,766 thousand, down from RMB 149,226 thousand in the previous year[37] - Trade receivables were RMB 195,894 thousand, with a net amount of RMB 192,033 thousand after impairment[52] - Inventory value increased to RMB 330,017 thousand from RMB 322,901 thousand year-on-year[51] Revenue Segmentation - Revenue from the pharmaceutical segment grew by 25.3% to RMB 1,415.7 million, accounting for 69.1% of total revenue[54] - Revenue from the retail pharmacy segment decreased by 8.9% to RMB 634.1 million, representing 30.9% of total revenue[55] - For the fiscal year ending December 31, 2023, the total revenue from external customers for the pharmaceutical segment was RMB 1,415,663,000, while the retail pharmacy segment generated RMB 634,149,000, leading to a total revenue of RMB 2,746,036,000[165] Operational Developments - The company plans to accelerate the construction of a new pharmaceutical plant and ensure a smooth transition of production capacity between old and new facilities[22] - The company aims to enhance its core product development and introduce new products to support growth over the next 30 years[21] - The group operates 428 self-operated retail pharmacies in Guangdong Province as of December 31, 2023[55] - The group aims to enhance the influence of traditional Chinese medicine products and accelerate new retail development[44] Financial Reporting and Compliance - Financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with relevant regulations[137] - The group has adopted new and revised International Financial Reporting Standards this year, with no significant impact on the financial statements[146] - The audit committee has reviewed the group's accounting principles and financial statements during the year[92] Employee and Compensation - As of December 31, 2023, the group employed 2,643 employees, a decrease from 2,883 employees in 2022, with total compensation amounting to RMB 323.9 million, down from RMB 332.4 million in 2022[79] - The group has adopted a competitive remuneration policy for directors to attract and retain qualified individuals to achieve strategic goals[82] Future Outlook - The group anticipates continued growth in demand for traditional Chinese medicine, driven by increasing public health awareness post-COVID-19[84] - The company aims to strengthen its traditional Chinese medicine tablet business by building a complete industry chain from seed cultivation to processing[107]
中智药业(03737) - 2023 - 年度业绩