Financial Performance - The group's revenue increased by 11.8% to RMB 2,540.1 million, up from RMB 2,271.5 million in 2022, primarily driven by a rise in sales volume of human albumin injection, contributing approximately RMB 249.8 million to the revenue growth[25] - Gross profit rose to RMB 323.3 million from RMB 305.9 million in 2022, although the gross margin decreased from 13.5% in 2022 to 12.7% in the reporting period[25] - Net profit decreased by 39.0% to RMB 42.4 million, down from RMB 69.5 million in 2022, mainly due to increased administrative expenses from the expansion of the medical beauty drug research and manufacturing segment[25] - Basic and diluted earnings per share were RMB 0.02, compared to RMB 0.03 in 2022[25] - The group reported a decrease in other income and gains to RMB 14.6 million from RMB 25.2 million in 2022[27] - Administrative expenses increased to RMB 108.9 million from RMB 81.4 million in 2022, reflecting higher operational costs[27] - The group’s financial costs, excluding credit-related financial expenses, were RMB 13,380 thousand[59] - The company's net profit attributable to owners was RMB 42.4 million for 2023, with no adjustments made for potential ordinary shares[94] - The group's net profit for 2023 was RMB 42.4 million, a decrease of RMB 27.1 million compared to RMB 69.5 million in 2022[138] Assets and Liabilities - Non-current assets increased to RMB 457,395,000 in 2023 from RMB 406,927,000 in 2022, with significant growth in property, plant, and equipment, which rose to RMB 279,083,000 from RMB 258,109,000[15] - Current liabilities surged to RMB 1,232,037,000 in 2023, up from RMB 790,585,000 in 2022, indicating a substantial increase in trade payables and bank borrowings[15] - The company reported a net asset value of RMB 201,246,000 in 2023, a decrease from RMB 226,821,000 in 2022, indicating a tightening liquidity position[15] - Total assets amounted to RMB 628,052 million, an increase from RMB 603,812 million in the previous year[29] - The total liabilities of the group as of December 31, 2023, were RMB 1,262,626 thousand, compared to RMB 820,521 thousand in the previous year[61] - The company's total borrowings amounted to RMB 241.7 million as of December 31, 2023, with bank borrowings at RMB 241.7 million[161] Dividends - The company declared a final dividend of HKD 0.39 per share for the year ending December 31, 2023, down from HKD 0.98 in 2022, totaling approximately HKD 8,000,000 compared to HKD 20,000,000 in the previous year[2] - The board proposed a final dividend of HKD 0.39 per share, totaling approximately HKD 8 million, down from HKD 20 million in 2022[25] - The company plans to pay a final dividend of HKD 0.39 per share for the year ended December 31, 2023, down from HKD 0.98 per share in 2022, totaling approximately HKD 8,000,000[77] Operational Developments - The company has implemented measures to promote environmental sustainability without incurring significant expenditures related to compliance with environmental laws and regulations during the reporting period[1] - The company has three reportable operating segments, consistent with the previous year, indicating stable operational structure[24] - The company acquired Deyang Demai Medical Beauty Hospital Co., Ltd. to enhance its medical services segment, which is now recognized as an independent reporting business unit[56] - The company successfully commenced trial production of injectable polycaprolactone microsphere facial fillers, marking a significant advancement in its research and manufacturing segment[56] - The company is advancing clinical trials for its medical beauty product, with expectations to complete trials by the second half of 2025[107] - The company has decided to suspend research on the chemical drug "Sinco 1" due to technical challenges in domestic production equipment[104] - The company is enhancing its internal marketing team to improve product promotion activities, aiming to expand its network of opinion leaders in key therapeutic areas[81] - The group is developing new products, including the "Girl's Needle" and "Privacy Needle," with various stages of development completed, including clinical trial preparations[128] Cash Flow and Financial Management - The group's cash flow from operating activities was RMB 353.7 million, significantly up from RMB 75.1 million in 2022[148] - The net cash flow from operating activities was RMB 353.7 million, while cash flow used in investing activities was RMB (63.6) million for the reporting period[165] - Financial costs decreased by RMB 3.9 million to RMB 14.4 million due to reduced bank loan interest[136] Compliance and Governance - The audit committee is responsible for reviewing and monitoring the financial reporting system and internal control procedures of the group[4] - The company appointed a new auditor, Xianji Certified Public Accountants, effective December 13, 2022, following the resignation of Ernst & Young[5] - The company received a notification regarding potential internal control violations related to a transaction amounting to USD 13 million (approximately HKD 100 million) in January 2022[6] - The company has not early adopted any new or revised International Financial Reporting Standards that have been issued but not yet effective[35] - The company confirmed that the arrangement of having the same person serve as both chairman and co-CEO will not affect the balance of power and authority between the board and management[192] - The financial figures for the year ending December 31, 2023, have been agreed upon by the company's auditors, ensuring consistency with the audited financial statements[194] Market and Industry Outlook - The group anticipates strong growth in the pharmaceutical health industry driven by aging population, increased health awareness, disease spectrum changes, and new technology applications[129]
兴科蓉医药(06833) - 2023 - 年度业绩