Financial Performance - In 2023, the company achieved a sales revenue of approximately RMB 5.824 billion, representing a year-on-year growth of about 4.9%[2] - The sales revenue in Hong Kong dollars was approximately HKD 6.463 billion, with a year-on-year increase of about 0.5%[4] - The gross profit margin for the year was 56.0%, an increase of 0.6 percentage points compared to the previous year[2] - Net profit reached approximately HKD 1.319 billion, reflecting a year-on-year growth of about 17.4%[2] - The company declared a final dividend of HKD 0.10 per share, totaling an annual dividend of HKD 0.17 per share, which is a year-on-year increase of approximately 21.4%[3] - The group achieved a revenue of HKD 6,463,009 thousand for the year ended December 31, 2023, representing a slight increase from HKD 6,434,025 thousand in 2022[16] - The operating profit for 2023 was HKD 1,638,901 thousand, up from HKD 1,423,713 thousand in the previous year, indicating a growth of approximately 15.1%[16] - The net profit attributable to equity holders for 2023 was HKD 1,318,616 thousand, compared to HKD 1,122,837 thousand in 2022, reflecting an increase of about 17.4%[18] - The company reported a gross profit of HKD 3,619,639 thousand for 2023, compared to HKD 3,567,586 thousand in 2022, indicating a slight improvement in profitability[16] - The total revenue for the year ended December 31, 2023, was HKD 6,688,833,000, an increase from HKD 6,616,220,000 in 2022, representing a growth of approximately 1.1%[29] - The operating profit for the intravenous infusion and others segment was HKD 1,641,613,000, while the medical materials segment reported an operating profit of HKD 17,651,000, leading to a total operating profit of HKD 1,638,901,000[29] - Revenue from pharmaceutical sales was HKD 6,258,527,000 in 2023, compared to HKD 6,206,967,000 in 2022, indicating a growth of approximately 0.8%[32] Sales Performance - The company sold approximately 1.91 billion bottles (bags) of infusion products, a year-on-year increase of 21%, with sales revenue of about HKD 4.041 billion, up 15%[6] - The sales of oral formulations reached approximately HKD 478 million, marking a year-on-year growth of about 38%[7] - The company participated in national drug procurement, achieving sales of approximately HKD 936 million from these products, a year-on-year increase of about 70%[6] - The company’s sales of ampoule products reached approximately 310 million units, a year-on-year increase of 84%[7] - The company’s solid dosage forms saw significant growth, with key therapeutic products achieving a sales volume increase of approximately 25%[6] - The revenue from intravenous infusion products reached HKD 4,040,743,000, representing a 15.1% increase from HKD 3,510,342,000 in the previous year, primarily due to sales volume growth[53] - The revenue from ampoule injection products decreased to HKD 826,103,000, down 15.6% from HKD 978,707,000 in 2022, attributed to changes in product mix and increased sales through centralized procurement[54] - The revenue from active pharmaceutical ingredients fell to HKD 888,867,000, a decrease of 34.6% from HKD 1,358,949,000 in the previous year, reflecting weak market demand and price declines[54] - The revenue from oral formulations increased by 38.2% to HKD 478,195,000, up from HKD 346,058,000 in 2022, driven by new products such as Buprenorphine tablets and Acyclovir tablets[54] Research and Development - The group obtained 86 production approvals, including 72 for formulations and 14 for raw materials, during the reporting period[9] - The group plans to accelerate clinical trials for the new drug NP-01, which has shown good safety and efficacy signals in preliminary studies[9] - The group has applied for 110 product approval projects, including 89 for new varieties of liquid and solid formulations[10] - The group achieved 9 consistency evaluation approvals, bringing the total to 86 approvals across various products[10] - The group applied for 70 patents and was granted 43 patents in 2023, with a total of 452 patent applications to date[10] - Research and development costs amounted to HKD 471,076,000 in 2023, a slight decrease from HKD 473,060,000 in 2022[37] - The company capitalized development costs of HKD 289,748,000 in 2023, compared to HKD 259,104,000 in 2022, marking an increase of about 11.9%[37] - The company plans to continue focusing on high-quality intravenous infusion products and will launch new products in ampoule injections, active pharmaceutical ingredients, oral formulations, and medical materials to drive revenue growth[54] Financial Position - The total current assets increased to HKD 5,124,117 thousand in 2023 from HKD 4,884,452 thousand in 2022, reflecting a growth in liquidity[19] - Total assets decreased from HKD 9,444,896 thousand to HKD 8,288,626 thousand, reflecting a decline of approximately 12.3%[22] - Non-current liabilities increased from HKD 1,742,802 thousand to HKD 2,176,204 thousand, representing a rise of about 24.9%[22] - Net assets rose from HKD 6,545,824 thousand to HKD 7,268,692 thousand, indicating an increase of approximately 11%[22] - Borrowings increased significantly from HKD 1,561,566 thousand to HKD 1,947,568 thousand, a growth of around 24.7%[22] - The company's equity attributable to shareholders increased from HKD 6,213,600 thousand to HKD 6,932,534 thousand, marking an increase of about 11.6%[22] - Deferred income rose from HKD 160,390 thousand to HKD 203,714 thousand, reflecting an increase of approximately 27%[22] Cost Management - The company’s employee costs increased to HKD 717,031,000 in 2023 from HKD 668,407,000 in 2022, marking an increase of approximately 7.3%[35] - The total depreciation and amortization expenses for the year were HKD 405,574,000, compared to HKD 370,642,000 in 2022, indicating an increase of approximately 9.4%[29] - Sales and distribution costs decreased by 7.7% to HKD 1,532,591,000, with advertising and promotional expenses dropping to HKD 1,017,254,000 from HKD 1,121,283,000[58] - General and administrative expenses increased by 8.2% to HKD 308,321,000, driven by higher administrative staff costs and utility expenses[59] - Net financial costs surged by 124.1% to HKD 85,942,000 due to rising average bank borrowing rates[62] - Income tax expenses increased by 21.3% to HKD 254,281,000, attributed to higher pre-tax profits[63] Corporate Governance and Compliance - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements[24] - The company has not applied any new standards or interpretations that have not yet come into effect during the accounting period[24] - The company is currently assessing the impact of the OECD's second pillar model rules on its financial reporting[26] - The company has not experienced significant impacts from the abolition of the MPF long service payment offset mechanism[26] - The company has complied with all applicable provisions of the corporate governance code during the year ended December 31, 2023, except for the separation of roles between the Chairman and CEO[76] - The external auditor confirmed that the financial data for the year ended December 31, 2023, is consistent with the audited financial statements[78] Shareholder Information - The proposed final dividend per ordinary share is HKD 0.08, compared to HKD 0.06 in the previous year, with total dividends for the year amounting to HKD 504,807,000, up from HKD 416,647,000 in 2022[49] - The interim dividend of HKD 0.07 per share was declared on August 29, 2023, and paid on September 27, 2023, compared to HKD 0.06 per share in 2022[79] - The total dividend for the year ending December 31, 2023, will be HKD 0.17 per share, an increase from HKD 0.14 per share in 2022[79] - The annual general meeting is scheduled for May 17, 2024, at 2:00 PM[80] - Share transfer registration will be suspended from May 14, 2024, to May 17, 2024[81] - The annual report will be published on the company's website and the Hong Kong Stock Exchange website[82]
石四药集团(02005) - 2023 - 年度业绩