Financial Performance - The group's revenue for the year ended December 31, 2022, was RMB 3,950,636,000, an increase of 22.6% compared to the previous year[2]. - The annual profit was RMB 722,773,000, representing a growth of 29.8% year-on-year[2]. - The company's total sales for 2022 reached RMB 3,950,636,000, an increase of 22.6% compared to the previous year, with net profit rising by 29.8% to RMB 722,773,000[5]. - The gross profit margin was 74.4%, slightly down from 74.8% in the previous year[2]. - The net profit margin improved from 17.3% to 18.3%[5]. - The group achieved a total revenue increase of 22.6% in 2022, with injection products generating approximately RMB 1,423,254,000, a 6.3% increase, accounting for 36.0% of total revenue[20]. - The sales cost for the group in 2022 was approximately RMB 1,012,322,000, representing 25.6% of total revenue[21]. - The pre-tax profit for 2022 was RMB 917,025,000, an increase of 27.4% compared to RMB 720,103,000 in 2021[55]. - The total tax expense for 2022 was RMB 194,252,000, up from RMB 163,429,000 in 2021, reflecting an 18.8% increase[55]. - The basic and diluted earnings per share for 2022 were RMB 0.96, compared to RMB 0.74 in 2021, representing a 29.7% increase[59]. Product Sales and Growth - Sales of traditional Chinese medicine formula granules exceeded RMB 1.1 billion, up 59.3% from the previous year, ranking among the top five listed companies in the industry[3]. - Oral products continued to be the main growth driver, with overall sales increasing by 34.1% to RMB 2,527,382,000, representing 64.0% of total sales[6]. - The sales of the respiratory system drug Qingkailing soft capsule increased by 79.8% to RMB 81,770,000, with a significant growth of 154.4% in the second half of the year[8]. - The sales of traditional Chinese medicine formula granules surged by 59.3% to approximately RMB 1,102,958,000, representing 27.9% of total revenue[20]. - The sales of the company's unique product, Synovitis Granules, grew by 34.1% in 2022, reaching RMB 231,012,000, making it the only approved innovative traditional Chinese medicine for treating synovitis[13]. - The sales of Qi Huang Tong Mi Soft Capsules increased by 45.8% in 2022, totaling RMB 68,359,000, and it is recognized as a new generation of modern traditional Chinese medicine for treating functional constipation[13]. - The company’s proprietary product, Jiang Zhi Tong Liao Soft Capsules, saw an impressive sales growth of 82.8% in 2022, amounting to RMB 35,904,000, and is included in the national medical insurance catalog[13]. - Dan Deng Tong Nao Soft Capsules recorded a sales increase of 71.9% in 2022, reaching RMB 31,088,000, and is effective for treating ischemic stroke and transient ischemic attacks[14]. - The sales revenue from grassroots markets for traditional Chinese medicine formula granules surged by 196.0% compared to the previous year[10]. Market Expansion and Strategy - The company plans to deepen its market presence in Hebei, expand in Yunnan, and develop in four other provinces in 2023[3]. - The company is committed to increasing its digital marketing transformation and expanding its coverage in retail pharmacies and target hospitals[4]. - The company aims to enhance its core competitiveness through projects focused on modern traditional Chinese medicine production and technology standards[4]. - The company has completed the listing registration for national standard varieties in 29 provinces and is focusing on expanding sales in key provinces[11]. - The company aims to establish a national network for traditional Chinese medicine formula granules, leveraging the opportunities presented by the opening of the national market[12]. - The expansion of sales channels is projected to grow from over 2,000 pilot hospitals to one million medical institutions capable of providing traditional Chinese medicine services[12]. - The market for traditional Chinese medicine formula granules is expected to exceed RMB 100 billion by 2025, with a growth rate nearly several times the current market size[12]. - The company has become one of the top five listed companies in the traditional Chinese medicine formula granules industry by sales revenue[12]. Research and Development - The company is in the III phase of clinical research for innovative traditional Chinese medicine, with plans to accelerate trials following the control of the pandemic[4]. - The group is currently conducting Phase III clinical trials for three innovative drugs, including "Sailuotong Capsules," targeting vascular dementia, which is a significant health concern with an expected global increase in dementia cases[16]. - The "Q-B-Q-F Concentrated Pill" is entering Phase III clinical trials, aimed at treating mycoplasma pneumonia in children, addressing a significant clinical need due to rising antibiotic resistance[17]. - The group plans to complete the registration of the first batch of classic Chinese medicine formulas by the end of 2023, in line with national policies promoting traditional medicine[17]. - The group has 48 researchers and is collaborating with prestigious institutions like Tsinghua University and Peking University for drug development[16]. - The group is actively advancing the development and registration of classic Chinese medicine formulas, reflecting the government's support for traditional medicine[19]. Financial Position and Assets - The company recorded a net cash per share of HKD 6.87 and a net asset value per share of HKD 8.72 as of December 31, 2022[5]. - The group had cash and cash equivalents of approximately RMB 5,046,495,000 as of December 31, 2022, compared to RMB 4,205,722,000 in 2021[31]. - Current assets increased significantly from RMB 5,699,112 thousand in 2021 to RMB 6,782,399 thousand in 2022, representing an increase of about 19.0%[37]. - Total liabilities rose from RMB 1,098,371 thousand in 2021 to RMB 1,665,593 thousand in 2022, an increase of approximately 51.7%[37]. - Net assets increased from RMB 5,901,481 thousand in 2021 to RMB 6,382,526 thousand in 2022, representing a growth of about 8.1%[38]. - The company reported a significant increase in trade payables, which rose from RMB 228,620 thousand in 2021 to RMB 308,540 thousand in 2022[37]. - The impairment loss on financial assets for 2022 was RMB 10,432,000, up from RMB 5,424,000 in 2021[26]. Dividends and Shareholder Returns - The company declared a first interim dividend of RMB 0.31 per share[2]. - The company declared an interim dividend of RMB 0.31 per share for 2023, with a total dividend related to the 2022 fiscal year amounting to RMB 0.42 per share, resulting in a payout ratio of 43.8%[5]. - The company declared a first interim dividend of RMB 0.31 per share for 2023, totaling RMB 234,174,000, compared to RMB 0.21 per share totaling RMB 158,634,000 in 2022[58]. Governance and Compliance - The company plans to hold its annual general meeting on May 30, 2023, to discuss future strategies and performance[65]. - The company did not repurchase, sell, or redeem any of its listed securities during the year ended December 31, 2022[67]. - The company has adopted a higher standard of conduct for securities trading than that outlined in the listing rules, and all directors confirmed compliance for the year ended December 31, 2022[69]. - The audit committee reviewed the audited financial performance of the group for the year ended December 31, 2022[70]. - The financial statements for the year ended December 31, 2022, were approved by the board on March 30, 2023, and are consistent with the figures provided by the auditors[70]. - The annual report will include the board report, audited consolidated financial statements, and corporate governance report, to be published on the company's website and the stock exchange's website[71]. - The chairman and president roles are held by the same individual, with responsibilities clearly defined and documented, which the board believes is beneficial for executing the group's business strategy[68].
神威药业(02877) - 2022 - 年度业绩