Financial Performance - The company reported a revenue of $840.8 million for the year ended December 31, 2022, representing a 15.6% increase compared to $778.6 million in 2021 (excluding foreign exchange impact) [3] - Gross profit for the year was $501.8 million, up 2.0% from $491.8 million in the previous year [2] - The company incurred a net loss of $588.1 million, compared to a loss of $351.3 million in 2021, with a loss attributable to equity shareholders of $436.5 million [3] - Total comprehensive loss for the year amounted to $764.9 million, compared to $342.7 million in 2021 [6] - The company’s basic loss per share was $(24.08), compared to $(15.29) in the previous year [5] - The reported net loss for the year 2022 was $588,115,000, compared to a net loss of $351,295,000 in 2021, indicating an increase in losses of approximately 67.4% [22] - The total assets decreased from $4,380,529,000 in 2021 to $3,994,085,000 in 2022, a decline of about 8.8% [22] - The total liabilities increased slightly from $2,163,037,000 in 2021 to $2,201,417,000 in 2022, representing an increase of approximately 1.8% [22] Revenue Growth by Segment - The company experienced significant revenue growth in its subsidiaries, with heart vascular intervention business revenue increasing by 31.0%, neuro-intervention business by 43.0%, and surgical robotics business by 904.8% (all excluding foreign exchange impact) [3] - Revenue from medical device sales was $822.484 million, up from $761.699 million in the previous year, representing a growth of 7.96% [15] - The total revenue for the cardiovascular intervention segment was $146,651 thousand, while the orthopedic medical segment generated $225,335 thousand in revenue [20] - The cardiovascular business achieved global revenue of $134.1 million, a 2.3% increase year-over-year (excluding currency effects) [58] - The orthopedic medical device business achieved global revenue of $223.6 million, a 9.5% increase year-over-year (excluding currency effects) [60] - The heart rhythm management business generated revenue of $204.2 million, a 3.5% increase year-over-year (excluding currency effects) [62] - The aortic and peripheral vascular intervention business generated $133.2 million in revenue, a 31.0% increase year-on-year (excluding currency effects) [65] - Neurointervention products recorded revenue of $79.9 million, reflecting a significant year-on-year growth of 43.0% (excluding currency effects) [66] Research and Development - Research and development costs increased due to investments in independent subsidiaries and overseas market expansion [3] - The company reported a significant increase in research and development expenses, totaling $411,171,000 in 2022, compared to $291,328,000 in 2021, marking an increase of approximately 41.1% [30] - Continuous improvement of existing products and active promotion of innovative product development are key strategies for the company [86] Cash and Assets - The company’s cash and cash equivalents decreased to $1.2 billion from $1.8 billion in the previous year [8] - The company’s total assets less current liabilities were $3.3 billion as of December 31, 2022, compared to $3.8 billion in 2021 [8] - The net assets decreased to $1.792 billion in 2022 from $2.217 billion in 2021, reflecting a decline of 19.2% [11] - The company’s cash and cash equivalents decreased from $530,036,000 in 2021 to $243,035,000 in 2022, a reduction of about 54.1% [22] Financing and Liabilities - The company’s financing costs increased to $78.4 million from $47.9 million in the previous year [5] - The total interest-bearing borrowings as of December 31, 2022, amounted to $522,076,000, compared to $364,383,000 in 2021, representing a 43% increase [46] - The company’s total non-current liabilities were $1.539 billion, a slight decrease from $1.616 billion in the previous year, showing a reduction of 4.77% [10] - The company’s total liabilities for reportable segments reached $1,425,446 thousand, with the orthopedic medical segment's liabilities at $335,395 thousand [21] Market Expansion and Strategy - The company is actively managing its business segments based on product and service nature, as well as geographical regions [17] - The company continues to focus on research and development across various medical device sectors, including cardiovascular and orthopedic products [18] - The company plans to continue expanding both domestic and overseas markets, aiming to maximize shareholder value through self-development, mergers, and acquisitions [113] - The company is focusing on enhancing its market share in the Chinese medical device market, leveraging strong brand recognition and a broad distribution network [86] Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange rules throughout the year [115] - The audit committee reviewed and discussed the full-year results and annual report for the year ended December 31, 2022 [117] - The chairman and CEO roles are held by the same individual, Dr. Chang, with ongoing reviews of governance structure effectiveness [116] Shareholder Returns - The company did not propose any final dividends for the year ended December 31, 2022, compared to a dividend of 4.3 HK cents per share in the previous year [51] - The company purchased 2,755,400 shares at a cash consideration of $6,390,000 under the share incentive plan during the year ended December 31, 2022 [118]
微创医疗(00853) - 2022 - 年度业绩