Financial Performance - The group's revenue increased by approximately RMB 167.5 million or 53.7% to approximately RMB 479.6 million for the six months ended June 30, 2023, compared to the same period in 2022[2] - Gross profit rose by approximately RMB 135.0 million or 59.5% to approximately RMB 362.1 million for the same period[2] - EBITDA increased by approximately RMB 82.1 million or 82.8% to approximately RMB 181.2 million for the six months ended June 30, 2023[2] - Profit attributable to equity holders of the company surged by approximately RMB 65.4 million or 115.3% to approximately RMB 122.1 million compared to the prior year[2] - The total comprehensive income for the period was RMB 132.955 million, up from RMB 58.768 million in the previous year[6] - The basic and diluted earnings per share attributable to ordinary equity holders was RMB 16.62, compared to RMB 7.67 in the previous year[4] - The net profit for the six months ended June 30, 2023, was approximately RMB 122.1 million, an increase of about RMB 65.4 million or 115.3% compared to RMB 56.7 million for the same period in 2022[58] Cash Flow and Assets - Cash flow from operating activities netted RMB 257.230 million, significantly higher than RMB 124.926 million for the same period last year[10] - The net cash flow from operating activities for the six months ended June 30, 2023, was RMB 257,230 thousand, compared to RMB 124,926 thousand for the same period in 2022, representing an increase of 106.5%[11] - The net cash flow used in investing activities for the six months ended June 30, 2023, was RMB (37,979) thousand, compared to RMB (22,679) thousand in 2022, showing a decline of 67.5%[11] - The net cash flow used in financing activities for the six months ended June 30, 2023, was RMB (264,952) thousand, compared to RMB (48,663) thousand in 2022, representing an increase of 444.5%[11] - The cash and cash equivalents at the end of the period were RMB 842,603 thousand, compared to RMB 766,579 thousand at the end of the same period in 2022, an increase of 9.9%[11] - Non-current assets totaled RMB 490.624 million as of June 30, 2023, down from RMB 504.635 million at the end of 2022[7] - Current assets decreased to RMB 1,465.554 million from RMB 1,794.655 million at the end of 2022[8] - The net asset value was RMB 1,428.873 million, a decrease from RMB 1,539.111 million at the end of 2022[9] Expenses and Financial Costs - Selling and distribution expenses increased by approximately RMB 39.4 million or 33.0% to RMB 158.7 million, primarily due to increased promotional and advertising expenses[53] - Administrative expenses rose by approximately RMB 12.7 million or 34.5% to RMB 49.5 million, mainly due to higher R&D costs compared to the previous year[54] - The company's financial costs increased by approximately RMB 2.0 million or 43.5% to RMB 6.6 million, mainly due to higher borrowing and discount interest expenses[56] Taxation - The total income tax expense for the six months ended June 30, 2023, was RMB 33,033,000, an increase from RMB 18,907,000 in the same period of 2022, representing a growth of approximately 74.5%[21] - The company's income tax provision in mainland China was calculated at a preferential tax rate of 15% for two subsidiaries under the Western Development Strategy, while other subsidiaries enjoyed a 20% tax rate[21] Product Performance and Market Expansion - As of June 30, 2023, sales of Jin Sangzi throat lozenges (OTC) accounted for approximately 89.2% of the total revenue of the group[35] - The sales of Jin Sangzi throat treasure series products represented about 10.3% of the total revenue as of June 30, 2023[36] - The flagship product, Jinsongzi throat lozenges (OTC), has been recommended for treating throat symptoms in the COVID-19 medication directory, contributing to a sales increase in the first half of 2023 compared to the same period in 2022[44] - The market demand for Jin Sangzi throat lozenges (OTC) continues to grow post-pandemic, with sales in the first half of 2023 showing an increase compared to the same period in 2022[33] - The group has successfully developed 35 new products since 1994, obtaining production licenses for these products, including 8 pharmaceutical products and 21 food products[39] - The group’s new product, Jin Sangzi intestinal treasure, is a prebiotic designed to enhance gut health by targeting beneficial bacteria[37] Export and Distribution - Jin Sangzi throat lozenges (OTC) have been exported to major markets including the USA, Canada, EU, Australia, Southeast Asia, Middle East, Mexico, Mongolia, and Africa as of June 30, 2023[35] - The group has expanded its export markets for Jin Sangzi throat treasure series products to 22 countries and regions, with new additions including Luxembourg, Croatia, and Estonia in early 2023[36] - The company has expanded its product exports to 53 countries and regions across five continents, including new markets such as Luxembourg, Croatia, and Estonia in 2023[41] - As of June 30, 2023, the company has established a comprehensive national sales and distribution network covering all provinces, autonomous regions, and municipalities in China, with most revenue derived from sales to distributors[41] Future Plans and Development - The company plans to continue developing new products, including gene drugs and traditional Chinese medicine, to enhance its market position in the throat lozenge sector[45] - The company aims to strengthen its brand recognition and image in China through expanded advertising and targeted marketing strategies[45] - The company plans to enhance production capacity through the construction of a new production base, which has a total area of approximately 60,000 square meters, including R&D center and automated production lines[46] - The second phase of the new base is expected to cover an area of approximately 50,000 square meters and will include a food production plant and R&D center, with construction anticipated to start by the end of Q3 2023[46] - The company is committed to enhancing its organizational capabilities and digital marketing to support sustainable growth and market share expansion in the pharmaceutical and food sectors[45] Corporate Governance - The company has adopted a corporate governance code and has complied with all applicable provisions for the six months ended June 30, 2023[69] - The audit committee has reviewed the unaudited interim consolidated financial statements for the six months ended June 30, 2023, and found the existing risk management and internal control systems to be effective and adequate[71] Employee and Operational Metrics - The company employed a total of 860 full-time employees as of June 30, 2023, down from 937 employees a year earlier, with employee costs approximately RMB 35.9 million for the six months ended June 30, 2023[63]
金嗓子(06896) - 2023 - 中期业绩