Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 1,267.2 million, an increase of about 15.5% compared to RMB 1,097.3 million for the same period in 2022, primarily driven by increased sales of congenital heart disease occluders and coated stents [2]. - Gross profit for the year ended December 31, 2023, was approximately RMB 995.6 million, up about 13.9% from RMB 873.9 million in 2022 [2]. - The net profit attributable to the company's owners, excluding certain non-recurring items, was approximately RMB 423.3 million, a decrease of about 2.3% from RMB 433.4 million in 2022, mainly due to increased R&D expenses and decreased net foreign exchange gains [2]. - The company's net profit for the year, excluding certain non-recurring items, was approximately RMB 400.2 million, down about 7.0% from RMB 430.2 million in 2022 [2]. - The basic and diluted earnings per share for the year were RMB 6.0 cents and RMB 5.9 cents, respectively, compared to RMB 7.7 cents and RMB 7.4 cents in 2022 [4]. - The total profit for the year was RMB 994,971,000, with segment profits of RMB 434,294,000 from structural heart disease, RMB 533,990,000 from peripheral vascular, and RMB 26,687,000 from electrophysiology [13]. - The company reported a total income of RMB 99,305,000 in 2023, up from RMB 60,094,000 in 2022, marking an increase of 65.0% [21]. - The pre-tax profit rose to RMB 379,811,000 in 2023, compared to RMB 336,525,000 in 2022, reflecting an increase of 12.8% [22]. - The company reported a net profit of approximately RMB 400.2 million for the year ended December 31, 2023, down about 7.0% from RMB 430.2 million in 2022 [57]. Assets and Liabilities - Non-current assets as of December 31, 2023, totaled RMB 2,465.2 million, an increase from RMB 2,293.4 million in 2022 [5]. - Current assets increased to RMB 2,231.1 million as of December 31, 2023, compared to RMB 1,396.7 million in 2022 [5]. - The company's total liabilities increased to RMB 602.3 million in 2023 from RMB 184.3 million in 2022, primarily due to the fair value changes of financial liabilities [6]. - The net assets of the company as of December 31, 2023, were RMB 3,323.97 million, up from RMB 2,921.06 million in 2022 [6]. - Total assets increased to RMB 4,696,364 thousand in 2023 from RMB 3,690,103 thousand in 2022, with significant growth in structural heart disease assets from RMB 330,622 thousand to RMB 625,742 thousand [16]. - Total liabilities rose to RMB 1,372,394 thousand in 2023 compared to RMB 769,046 thousand in 2022, with the peripheral vascular business liabilities increasing from RMB 111,871 thousand to RMB 177,122 thousand [17]. - The total current liabilities as of December 31, 2023, were approximately RMB 770.1 million, compared to RMB 584.7 million as of December 31, 2022 [59]. Research and Development - Research and development expenses totaled RMB 297,921,000, reflecting the company's commitment to innovation and product development [13]. - Research and development expenses increased by approximately 42.9% to about RMB 297.9 million for the year ended December 31, 2023, compared to RMB 208.5 million in 2022 [51]. - The company submitted 351 patent applications and registered 204 patents during the year, with a total of 2,147 effective patent applications submitted and 942 registered effective patents as of December 31, 2023 [39]. - Several innovative medical devices, including AcuMarkTM and EpioneTM systems, received regulatory certifications, enhancing the company's competitive edge in the market [38]. - The company is actively pursuing clinical trials for new products, including the CeraTM ceramic membrane occluder and IBS AngelTM iron-based absorbable stent, which are expected to enhance its product portfolio [38]. Market and Sales - The structural heart disease segment generated revenue of RMB 495,666,000, while the peripheral vascular segment contributed RMB 707,108,000, and the electrophysiology segment accounted for RMB 64,401,000 [13]. - The company operates in multiple regions, with mainland China accounting for RMB 992,126,000 of total sales, followed by Europe at RMB 111,091,000 and other regions contributing smaller amounts [9]. - Domestic sales accounted for approximately 78.3% of total revenue for the year ended December 31, 2023, down from 81.6% in 2022 [36]. - Sales in Asia (excluding mainland China) and Europe represented approximately 9.0% and 8.8% of total revenue, respectively, for the year ended December 31, 2023, compared to 7.8% and 6.6% in 2022 [36]. - Revenue from external customers in mainland China was RMB 992,126 thousand in 2023, up from RMB 895,053 thousand in 2022, representing a growth of approximately 10.9% [20]. Expenses and Costs - The company incurred a tax expense of RMB 68,091,000 in 2023, compared to RMB 59,307,000 in 2022, which is an increase of 14.8% [24]. - The company's employee costs, including directors' remuneration, increased to RMB 247,453,000 in 2023 from RMB 219,966,000 in 2022, an increase of 12.5% [22]. - Sales and distribution expenses increased by approximately 8.2% to about RMB 265.3 million for the year ended December 31, 2023, compared to RMB 245.2 million in 2022 [49]. - Administrative expenses rose by approximately 45.7% to about RMB 149.3 million for the year ended December 31, 2023, from RMB 102.5 million in 2022 [50]. Future Outlook - The company anticipates continued growth in the coming year, driven by market expansion and new product development initiatives [9]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [18]. - The company aims to maintain its leading position in the industry by accelerating product development and enhancing innovation capabilities [38]. - The company plans to increase R&D investment focusing on new materials and technologies to drive product innovation and category expansion [74]. - The company aims to enhance its global market share and international influence through optimized production and sales models [74]. Corporate Governance - The board of directors proposed not to declare any final dividend for the year ended December 31, 2023, consistent with the previous year [2]. - The company did not declare or propose any dividends for the years ended December 31, 2023, and 2022 [26]. - The audit committee has reviewed the financial results for the year ending December 31, 2023, confirming compliance with applicable accounting standards [87]. - The annual general meeting is scheduled for May 27, 2024 [85]. - The board of directors includes executive directors Mr. Xie Yuehui and Mr. Liu Jianxiong, and independent non-executive directors Mr. Jiang Feng, Mr. Liang Xianzhi, Mr. Wang Wansong, and Mr. Zhou Luming [90].
先健科技(01302) - 2023 - 年度业绩