Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 3,209.0 million, an increase of 148.1% compared to the same period last year[2]. - Gross profit for the same period was RMB 2,563.9 million, reflecting a 166.9% increase year-over-year[2]. - Operating profit before interest, tax, depreciation, and amortization (EBITDA) was RMB 1,316.4 million, up from RMB 274.7 million in the previous year[2]. - Net profit attributable to equity holders was RMB 1,029.5 million, compared to a loss of RMB 32.8 million in the same period last year[3]. - Basic and diluted earnings per share were RMB 1.17, compared to a loss of RMB 0.04 per share in the previous year[3]. - For the twelve months ending June 30, 2023, the company reported revenue of RMB 5,660,646,000, a significant increase from RMB 2,004,850,000 for the same period ending June 30, 2022, representing a growth of approximately 183%[19]. - The gross profit for the twelve months ending June 30, 2023, was RMB 4,449,354,000, compared to RMB 1,343,568,000 for the same period in 2022, indicating a growth of about 231%[19]. - The company reported a net profit of RMB 1,023.9 million, compared to a net loss of RMB 32.5 million in the same period last year[98]. Assets and Liabilities - Total non-current assets amounted to RMB 6,830.3 million, slightly down from RMB 6,875.8 million at the end of 2022[6]. - Current assets increased to RMB 6,613.9 million from RMB 5,014.0 million at the end of 2022[6]. - Total current liabilities were RMB 5,657.8 million, up from RMB 4,940.8 million at the end of 2022[6]. - As of June 30, 2023, total assets decreased to RMB 7,786,400 thousand from RMB 6,949,019 thousand as of December 31, 2022, indicating a year-over-year increase of approximately 12%[8]. - Net assets increased to RMB 7,093,925 thousand as of June 30, 2023, compared to RMB 6,070,001 thousand as of December 31, 2022, reflecting a growth of about 17%[8]. - The company’s total liabilities decreased to RMB 692,475 thousand as of June 30, 2023, from RMB 879,018 thousand as of December 31, 2022, indicating a reduction of about 21%[8]. - The company reported a total of RMB 1,509,359,000 in financial liabilities measured at amortized cost as of June 30, 2023, down from RMB 1,718,222,000[47]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 1,244,799 thousand, a significant increase from RMB 152,427 thousand in the same period of 2022[11]. - Cash and cash equivalents increased to RMB 3,781,609 thousand as of June 30, 2023, compared to RMB 859,097 thousand as of June 30, 2022, showing a substantial growth[13]. - The company reported a net cash inflow from financing activities of RMB 395,490 thousand for the six months ended June 30, 2023, compared to RMB 52,666 thousand in the previous year[13]. - The company’s cash flow from investing activities showed a net inflow of RMB 1,217,801 thousand for the six months ended June 30, 2023, compared to a net outflow of RMB 476,929 thousand in the previous year[12]. Research and Development - Research and development expenses increased to RMB 98.3 million from RMB 40.9 million year-over-year[4]. - Research and development expenses amounted to RMB 120.7 million, accounting for 3.8% of total revenue, which is a 39.4% increase year-on-year[95]. - The company achieved significant progress in the research and development of innovative drugs, particularly in the areas of anti-infection and endocrine metabolism, during the first half of 2023[74]. - The company plans to increase R&D investment, focusing on drug development in areas such as anti-infectives and endocrine diseases, to enhance product competitiveness[127]. Market and Sales - Revenue from antiviral drug sales reached RMB 2,911,437,000 for the six months ending June 30, 2023, up from RMB 1,012,403,000 in the same period of 2022, reflecting an increase of approximately 187%[18]. - The core product Kewai (Oseltamivir Phosphate) generated sales of RMB 2,880.5 million, representing a growth of 186.4% year-on-year[78]. - The sales contribution of Kewai accounted for 89.8% of the total revenue, with other products contributing significantly less[77]. - The company has developed a professional promotion team for insulin products, which now consists of nearly 500 personnel, and has established connections with over 5,000 end-users[79]. - The company is actively participating in the elimination of hepatitis C, with its product Phosphorylated Emetine already included in the national medical insurance catalog[80]. - The company has strengthened its market marketing efforts to improve the recognition and competitiveness of its drugs in response to increasing health awareness among consumers[74]. - The company is actively participating in international markets, leveraging improvements in its technological capabilities and increasing global influence[75]. Corporate Governance and Compliance - The company has adhered to high standards of corporate governance and complied with all relevant rules during the reporting period[130]. - The company’s audit committee reviewed the interim results and financial statements for the six months ending June 30, 2023, prepared in accordance with international financial reporting standards[132]. Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2023[2]. - The company has not declared any dividends for the six months ended June 30, 2023, and June 30, 2022[56]. - The total issued and paid-up ordinary shares as of June 30, 2023, is 879,967,700 shares, unchanged from December 31, 2022[57]. Agreements and Frameworks - The company has established a leasing and service framework agreement with Shenzhen Dongyangguang Industrial, with proposed annual limits of RMB 12,383,300, RMB 12,999,500, and RMB 13,003,300 for the three years ending December 31, 2025[118]. - The company has set a framework agreement for the sale of raw materials and pharmaceuticals, with proposed annual limits of RMB 18,000,000, RMB 20,000,000, and RMB 22,000,000 for the three years ending December 31, 2025[118]. - A framework agreement for commissioned processing has been established, with proposed annual limits of RMB 94,805,500, RMB 108,832,000, and RMB 139,468,200 for the three years ending December 31, 2025[121]. - All agreements mentioned have been approved by shareholders at the annual general meeting held on June 2, 2023[122].
东阳光长江药业(01558) - 2023 - 中期业绩