Financial Performance - Revenue for the year ended December 31, 2023, was HKD 1,053,034 thousand, a decrease of 14.6% compared to HKD 1,233,148 thousand in 2022[1] - Gross profit for the same period was HKD 551,311 thousand, down 28.5% from HKD 770,755 thousand in the previous year[1] - Profit attributable to owners of the company was HKD 16,698 thousand, representing a significant decline of 67.4% from HKD 51,284 thousand in 2022[1] - Basic and diluted earnings per share for 2023 were both HKD 2.84, a decrease of 67.4% compared to HKD 8.71 in 2022[1] - Operating profit decreased to HKD 43,553 thousand in 2023 from HKD 76,560 thousand in 2022, representing a decline of 43.2%[18] - Net profit for the year was HKD 19,949 thousand, a significant drop of 56.5% compared to HKD 45,835 thousand in 2022[18] - Total comprehensive income attributable to owners of the company was HKD 124,663 thousand, down from HKD 528,438 thousand in the previous year[6] - Total comprehensive income for 2023 was HKD 127,582 thousand, compared to a loss of HKD 536,605 thousand in 2022[20] Dividends - The board recommended a final dividend of HKD 0.01 per share for the year ended December 31, 2023, unchanged from the previous year[1] - The company declared a total dividend of HKD 10,599,000 for the year, down from HKD 24,142,000 in 2022[78] - The board has proposed a final dividend of HKD 0.010 per share, consistent with the previous year[126] - The company proposes to pay a final dividend subject to shareholder approval at the Annual General Meeting, with payment scheduled for June 17, 2024[153] Assets and Liabilities - Non-current assets decreased to HKD 2,234,040 thousand in 2023 from HKD 2,130,394 thousand in 2022, an increase of 4.9%[22] - Current assets increased to HKD 656,627 thousand in 2023 from HKD 651,634 thousand in 2022, a slight increase of 0.5%[22] - The company reported a total asset value of HKD 2,890,667,000, up from HKD 2,782,028,000 in the previous year[43] - The total liabilities amounted to HKD 930,069,000, slightly down from HKD 939,504,000 in the previous year[43] - Total liabilities as of December 31, 2023, were HKD 930,069,000, slightly down from HKD 939,504,000 in 2022[70] Research and Development - The company reported a decrease in research and development expenses to HKD 96,804 thousand in 2023 from HKD 168,885 thousand in 2022, a reduction of 42.6%[18] - Research and development expenses for the year were HKD 219,849,000, a decrease of 37.5% compared to HKD 351,602,000 in the previous year, accounting for 20.9% of the corresponding annual revenue[114] - The company has over 40 projects in various stages of development, highlighting a robust pipeline for future growth[117] - The company is developing multiple assets in key therapeutic areas, including a new drug application for "Cetraxal® Plus" submitted in January 2023[95] - Research and development expenses are focused on new drug development across major therapeutic areas, including cardiovascular, women's health, pediatrics, rare diseases, dermatology, and obstetrics[137] Sales and Marketing - Sales of introduced products amounted to HKD 467,276,000, representing 44.4% of total revenue, down from 59.5% in the previous year[46] - Sales of patented and generic products reached HKD 585,758,000, accounting for 55.6% of total revenue, up from 40.5% in the previous year[46] - The company continues to strengthen its sales and marketing capabilities to adapt to the increasingly competitive business environment[56] - The company reported a significant increase in sales for its product "布累迪宁™", surpassing HKD 100 million with a growth rate of 18.9%[90] - Sales for "菲普利®" exceeded HKD 200 million, reflecting an 11.3% growth[90] - The company recorded a sales figure of HKD 113.7 million for "曲前列宁注射液（《芮旎尔®》）", with a growth of 13.9%[90] - The company achieved a substantial increase in sales for "曲特恪®", reaching HKD 50.8 million, a remarkable growth of 219.3%[90] Operational Challenges - The company faces challenges due to increasing competition and changing market dynamics, particularly with profit reductions from products included in national medical insurance plans[148] - Rising operational costs and inflation are ongoing challenges that require strategic management and careful attention from the company[148] - The company aims to enhance production capacity while implementing cost-saving measures in response to changing market conditions[50] Regulatory and Compliance - Socazolimab received conditional approval in China for the treatment of recurrent or metastatic cervical cancer, marking a significant milestone for the company[52] - The company has obtained three registration approvals from the National Medical Products Administration during the review period[53] - The INOmax DSIR Plus Delivery System™ received medical device registration from the National Medical Products Administration on May 25, 2023, indicating progress in new product development[120] - Ten products have been included in the latest medical insurance drug list, reflecting the company's efforts to expand market access[123] Future Plans - The company plans to continue implementing cost control measures to enhance profitability and ensure long-term sustainability[125] - The company plans to explore the possibility of entering the next drug procurement program after careful consideration[144] - The production capacity for "立暢青®" and "立騰菁®" is nearing saturation, and a new production line is being designed and constructed, expected to be operational in 2024[139] - The company has successfully completed the production verification for a new injectable product for neonatal respiratory distress syndrome, which is now ready for U.S. supplemental application[139] Shareholder Information - The company will hold its Annual General Meeting on May 22, 2024, with a notice to be sent to shareholders in due course[150] - The company will suspend share transfer registration from May 17, 2024, to May 22, 2024, to determine eligible shareholders for the Annual General Meeting[151]
李氏大药厂(00950) - 2023 - 年度业绩