Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 1,264,073 thousand, a decrease of 19.5% compared to RMB 1,570,129 thousand in 2021[2] - Gross profit for the same period was RMB 1,027,659 thousand, down 20.6% from RMB 1,294,700 thousand in the previous year[2] - Loss attributable to equity holders of the parent company was RMB 319,601 thousand, a 53.9% improvement from a loss of RMB 692,774 thousand in 2021[2] - The company reported a net loss of RMB 230,630 thousand for the year, compared to a net loss of RMB 675,873 thousand in 2021[4] - The group reported a pre-tax loss of RMB 434,165,000 for 2022, compared to a loss of RMB 606,703,000 in 2021, reflecting a reduction in losses[27] - The effective tax rate for the group was impacted by various factors, resulting in an income tax expense of RMB (203,535,000) for 2022, compared to RMB 69,170,000 in 2021[26] - The company did not recommend any dividends for the year ended December 31, 2022, consistent with the previous year[28] - The company's loss for 2022 was RMB 2,306 million, a reduction of RMB 4,452 million or 65.9% compared to a loss of RMB 6,759 million in 2021, mainly due to a significant decrease in share-based compensation expenses[71] Assets and Liabilities - Non-current assets increased to RMB 6,327,083 thousand as of December 31, 2022, from RMB 5,713,669 thousand in 2021[5] - Current assets totaled RMB 2,548,703 thousand, up from RMB 2,358,684 thousand in the previous year[5] - Current liabilities rose to RMB 2,249,797 thousand, compared to RMB 1,570,042 thousand in 2021[6] - The company's total assets minus current liabilities stood at RMB 6,625,989 thousand, slightly up from RMB 6,502,311 thousand in 2021[6] - The company's total financial liabilities as of December 31, 2022, amounted to RMB 13,987 million, an increase of RMB 7,482 million or 115% from RMB 6,504 million at the end of 2021, mainly due to increased bank borrowings for industrialization and working capital[76] - The company's current ratio as of December 31, 2022, was approximately 1.13, with current assets of RMB 25,487 million and current liabilities of RMB 22,498 million[72] Revenue Sources - The revenue from vaccine sales was RMB 1,264,038 thousand, while R&D services contributed RMB 2,847 thousand[18] - The company operates a single business segment focused on vaccine sales and R&D services, with all revenues generated in China[16][17] - Sales of the freeze-dried human rabies vaccine (Vero cells) accounted for 61.5% of total revenue in 2022, while the recombinant hepatitis B vaccine (Hanssen yeast) accounted for 34.6%[36] - As of December 31, 2022, 34.6% of the company's revenue came from hepatitis B vaccine sales, while 61.5% came from rabies vaccine sales[38][39] Research and Development - The company plans to continue its focus on research and development of human vaccines, with ongoing projects in various subsidiaries[7] - Research and development expenses increased by 62.8% to RMB 500.3 million in 2022, up from RMB 307.4 million in 2021, due to advancements in vaccine development[64] - The company has 22 vaccine candidates in its pipeline targeting 14 disease areas, with nine products having obtained 13 clinical approvals[37] - The company is developing a mRNA vaccine for respiratory syncytial virus (RSV), with plans to submit a clinical trial application in Q2 2024[44] - The company has a robust internal R&D team responsible for all stages of vaccine development, including preclinical research, laboratory studies, clinical trials, regulatory filings, and manufacturing process development[51] Production and Operations - The company operates four licensed factories and has five validated human vaccine platform technologies[35] - As of December 31, 2022, the company has passed all GMP inspections for its four licensed factories, which have a combined production capacity of 91.3 million doses annually[52][53] - The company plans to establish new production facilities in the coming years to meet the strong demand for its existing vaccine products, with several new production workshops already completed and in the validation phase[54] - The company has resumed production of the hemorrhagic fever vaccine after relocating to a new production line that passed GMP inspection in June 2022[42] Market and Strategic Outlook - The Chinese vaccine market is projected to grow from RMB 761 billion in 2021 to RMB 2,157 billion by 2030, significantly outpacing the global market growth[56] - The company is focusing on innovative vaccine development, including mRNA and recombinant vaccines, which have gained momentum due to the COVID-19 pandemic[56] - The company plans to enhance its specialized sales promotion network to support product promotion and market penetration in 2023[58] - The company is actively optimizing production plans and improving automation processes to ensure stable and high-quality supply across its licensed factories[54] Employee and Governance - As of December 31, 2022, the company had approximately 1,576 employees, an increase from about 1,469 employees as of December 31, 2021[83] - Total employee benefits expenses for the year 2022 amounted to RMB 608.0 million, down from RMB 1,311.6 million in 2021[83] - The audit committee has been established in accordance with listing rules and includes five members, ensuring proper governance[88] Financing and Investments - The company's financing costs for 2022 amounted to RMB 257 million, an increase of RMB 150 million or 140.1% compared to RMB 107 million in 2021, primarily due to rising bank loan interest[68] - The net proceeds from the initial public offering (IPO) were approximately HKD 91.61 million, which have not been utilized as of December 31, 2022[85] - The company plans to allocate HKD 38,747,000 (42.30%) of the net proceeds for clinical trials of its mRNA COVID-19 vaccine, expected to be completed by June 2024[86] - An additional HKD 32,060,000 (35.00%) is earmarked for the construction of new production facilities for vaccine products, with completion expected by December 2023[86]
艾美疫苗(06660) - 2022 - 年度业绩