Financial Performance - For the year ended December 31, 2023, the net loss of the group was approximately RMB 188.8 million, a decrease of 18.2% compared to RMB 230.9 million in 2022[1]. - The basic and diluted loss per share for 2023 was RMB 0.72, compared to RMB 0.84 in 2022[10]. - The company reported a loss attributable to ordinary shareholders of RMB 175,893,000 in 2023, compared to a loss of RMB 204,236,000 in 2022, indicating a reduction in losses[59]. - The company reported a comprehensive income of RMB 100 million for the year ending December 31, 2023, representing a 15% increase compared to the previous year[187]. - The company's total revenue for 2023 was RMB 758,573,000, an increase from RMB 534,723,000 in 2022[56]. Cash and Assets - As of December 31, 2023, cash and cash equivalents were approximately RMB 369.4 million, a decrease of 18.1% from RMB 451.3 million as of December 31, 2022[10]. - The group’s total assets less current liabilities as of December 31, 2023, were RMB 797.830 million, down from RMB 952.673 million in 2022[7]. - The total value of non-current assets decreased to RMB 409,426 thousand in 2023 from RMB 439,991 thousand in 2022, a decline of 6.9%[31]. - The company's total liabilities decreased to RMB 20,069 thousand in 2023 from RMB 28,846 thousand in 2022, a decrease of 30.5%[31]. - The net asset liability ratio as of December 31, 2023, was 5.4%, down from 6.8% in 2022[10]. Research and Development - Research and development expenses for the year ended December 31, 2023, were approximately RMB 111.7 million, a decrease of 29.2% from RMB 157.8 million in 2022[5]. - The company has focused on developing biodegradable stents (BRS) and renal denervation (RDN) systems to address unmet medical needs in China[48]. - The company has completed feasibility clinical trials for its Bioheart® system in China and is currently conducting confirmatory clinical trials[66]. - The company has invested RMB 50 million in R&D for innovative medical technologies in 2023, a 10% increase from the previous year[187]. - The company plans to enhance its R&D capabilities and expand its product portfolio to capture the unmet needs in the Chinese BRS and RDN markets[75]. Administrative and Other Expenses - Total administrative expenses for the year were RMB 52.881 million, compared to RMB 94.370 million in 2022[11]. - Administrative expenses decreased from RMB 94.4 million in 2022 to RMB 52.9 million in 2023, primarily due to a reduction in equity-settled share-based payment expenses by RMB 45.2 million[97]. - Employee benefits expenses dropped from RMB 72.979 million in 2022 to RMB 28.565 million in 2023, with equity-settled share-based payment expenses decreasing from RMB 67.416 million to RMB 22.197 million[98]. - Financial costs related to lease liabilities decreased from RMB 959,000 in 2022 to RMB 578,000 in 2023[55]. - The company has increased its administrative expenses from RMB 1 million in 2022 to RMB 3.06 million in 2023 due to losses from the termination of a production facility lease[84]. Clinical Trials and Product Development - The company has initiated the RADIUS-HTN trial for the second-generation Iberis® renal denervation system in Europe, with the first patient enrolled on March 27, 2023[51]. - The company has registered the first-generation renal denervation product for overseas commercialization, with CE marking obtained[53]. - The company’s new drug-coated balloon (DCB) is designed for long-term drug release of approximately 90 days, enhancing drug delivery efficiency[52]. - The company has received regulatory approval for its DCB (drug-coated balloon) product, which is expected to boost sales significantly in the upcoming quarters[187]. - New product development includes the Bioheart® fully biodegradable stent, which is expected to launch in Q2 2024[187]. Strategic Plans and Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[187]. - A strategic acquisition of a local biotech firm is in progress, aimed at enhancing R&D capabilities and product offerings[187]. - The company plans to reallocate approximately HKD 70 million originally intended for clinical trials and commercialization of its core product Bioheart® to DCB research and development[154]. - The company aims to attract and retain skilled personnel through the 2022 H-share incentive plan approved at the annual general meeting[146]. - The board has approved a new strategy focusing on digital health solutions, aiming to capture the growing telemedicine market[187]. Governance and Compliance - The company has adopted corporate governance practices to enhance management standards and protect shareholder interests during the reporting period[139]. - The board of directors consists of three executive directors and three independent non-executive directors, ensuring strong independence[140]. - The company has adopted a standard code for securities trading by directors and senior management, confirming compliance during the reporting period[140]. - The company does not recommend the payment of a final dividend for the reporting period, consistent with the previous year[151]. - The company has maintained the public shareholding level as required by listing rules as of the announcement date[149].
百心安-B(02185) - 2023 - 年度业绩