翰森制药(03692) - 2023 - 年度业绩

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of approximately RMB 4.511 billion, an increase of about 1.7% compared to the same period last year[1]. - The company's profit was approximately RMB 1.289 billion, a decrease of about 0.7% compared to the same period last year[1]. - The basic earnings per share were approximately RMB 0.22, a decrease of about 0.8% year-on-year[1]. - Total revenue for the same period was approximately RMB 4.511 billion, an increase of about 1.7% year-on-year, while profit was approximately RMB 1.289 billion, a decrease of about 0.7% year-on-year[6]. - The group's profit before tax reached RMB 1,301,181,000 for the six months ended June 30, 2023, compared to RMB 1,236,688,000 for the same period in 2022, reflecting an increase of approximately 5.2%[40]. - The total income tax expense for the group was RMB 211,035,000 for the six months ended June 30, 2023, compared to RMB 211,148,000 for the same period in 2022, showing a slight decrease[42]. - The group declared a dividend of HKD 0.05 per share for the fiscal year 2022, totaling approximately RMB 268,852,000, compared to RMB 455,826,000 for the previous year[43]. - The group experienced a significant increase in employee benefits expenses, totaling RMB 1,301,181,000 for the six months ended June 30, 2023, compared to RMB 1,236,688,000 for the same period in 2022, an increase of approximately 5.2%[40]. Research and Development - Research and development expenses amounted to approximately RMB 929 million, an increase of about 25.8% year-on-year, accounting for approximately 20.6% of total revenue[1]. - The company has successfully transformed into an innovative biopharmaceutical company focused on the development and sales of innovative drugs, with seven innovative drugs approved for listing as of June 30, 2023[2]. - The company has a total of 1,617 R&D personnel and over 30 innovative drug projects at various clinical stages as of June 30, 2023[6]. - The company has established a comprehensive R&D platform and has developed multiple innovative drug products, indicating a strong focus on innovation and technology advancement[36]. - The company is committed to expanding its R&D team and investing in technology[64]. - The company plans to continue increasing R&D investment and strengthen its technological capabilities to accelerate the development and commercialization of self-developed and introduced products[29]. Innovative Drug Sales - Sales revenue from innovative drugs reached approximately RMB 2.786 billion, representing a year-on-year growth of about 20.1%, with the proportion of revenue from innovative drugs rising from 52.3% to 61.8%[1]. - For the six months ended June 30, 2023, the company's innovative drug sales revenue was approximately RMB 2.786 billion, representing a year-on-year growth of about 20.1% and accounting for 61.8% of total revenue[6]. - Revenue from the oncology drug portfolio reached approximately RMB 2.555 billion, accounting for about 56.6% of total revenue[7]. - Revenue from the anti-infection drug portfolio was approximately RMB 601 million, representing about 13.3% of total revenue[7]. - Revenue from the central nervous system disease drug portfolio was approximately RMB 701 million, accounting for about 15.5% of total revenue[7]. - Revenue from the metabolic and other areas reached approximately RMB 654 million, representing about 14.6% of total revenue[7]. Market Position and Strategy - The company has established a leading position in major therapeutic areas with significant unmet medical needs, including oncology and central nervous system diseases[2]. - The recent policy adjustments in the national medical insurance catalog are expected to enhance the accessibility and commercial potential of innovative drugs, benefiting companies with high clinical value and effective commercialization capabilities[5]. - The company is committed to expanding its market presence, particularly in the Chinese pharmaceutical market, where over 90% of its revenue and operating profit are generated[37]. Corporate Governance and ESG - The company was included in the S&P Global's "Sustainable Development Yearbook (China Edition)" with an ESG rating in the top 1% of the industry, receiving the "Best Progress Company" award[4]. - The company aims to enhance its ESG management and has been recognized as one of the "Best 1%" and "Best Progress in Industry" in the S&P Global Corporate Sustainability Assessment for 2022[24]. - The company has complied with all corporate governance code provisions except for the separation of the roles of Chairman and CEO, which are currently held by the same individual[51]. Financial Position - As of June 30, 2023, the company had cash and bank deposits totaling RMB 16.917 billion, with financial assets at fair value through profit or loss amounting to RMB 4.530 billion[25]. - The company's debt-to-asset ratio was approximately 24.3% as of June 30, 2023, showing a slight decrease from 24.5% at the end of 2022[25]. - The company's total assets less current liabilities as of June 30, 2023, amounted to RMB 24,526,398 thousand, down from RMB 27,382,377 thousand as of December 31, 2022[32]. - The company's net assets amounted to RMB 24,175,628,000, an increase from RMB 22,646,944,000 as of December 31, 2022, representing a growth of approximately 6.75%[33]. - The total non-current liabilities decreased significantly to RMB 350,770,000 from RMB 4,735,433,000, indicating a reduction of approximately 92.59%[33]. Shareholder Information - The company issued and allocated 11,000,000 new shares under the Restricted Share Unit Plan, with a total of 20,304,400 restricted share units granted during the six months ended June 30, 2023[28]. - The average number of ordinary shares issued for basic earnings per share calculation was 5,923,743,166 for the six months ended June 30, 2023, slightly up from 5,916,956,923 for the same period in 2022[46]. - The company declared an interim dividend of HKD 0.0707 per share for the six months ended June 30, 2023, compared to HKD 0.0500 per share for the same period in 2022, representing a 41.4% increase[55]. Investment and Funding - The company issued USD 600 million zero-coupon convertible bonds due in 2026, with net proceeds of approximately USD 595.65 million allocated primarily for R&D expenses, facility upgrades, and general corporate purposes[60]. - The company has fully utilized the net proceeds from its 2019 IPO for the intended purposes as disclosed in the prospectus[56]. - The company plans to fully utilize the remaining proceeds from the bond issuance by 2030[61]. - The company has drawn down 4.8316 billion USD from the convertible bond issuance, with 1.0849 billion USD remaining unutilized[65]. Clinical Trials and Approvals - Four new products were approved for market during the reporting period, including one innovative drug, and eleven new clinical trial approvals were obtained for six innovative drugs[2]. - Clinical trials for HS-10365 and HS-20093 presented promising results at major conferences, showing good safety profiles and anti-tumor activity in various cancer types[18]. - The company has obtained clinical trial approvals for several new drugs, including HS-10390 for focal segmental glomerulosclerosis and IgA nephropathy, HS-10506 for depression and insomnia, HS-20117 for advanced solid tumors, HS-10516 for renal cell carcinoma, and HS-10518 for endometriosis-related pain and heavy menstrual bleeding[20][21][22][23].