Financial Performance - The gross profit margin for the year ended December 31, 2023, was approximately 69.4%, representing a 7.6% decrease from 77% for the year ended December 31, 2022[16]. - Revenue for the year 2023 was RMB 841,545,000, a slight decrease of 0.05% compared to RMB 841,586,000 in 2022[165]. - Gross profit for 2023 was RMB 584,046,000, down from RMB 648,035,000 in 2022, reflecting a decrease of approximately 9.9%[165]. - Profit from operations increased to RMB 198,829,000 in 2023, compared to RMB 197,822,000 in 2022, showing a growth of 0.5%[165]. - Profit before tax for 2023 was RMB 198,314,000, up from RMB 197,345,000 in 2022, indicating an increase of 0.5%[165]. - Total comprehensive income for the year 2023 was RMB 148,207,000, a decrease of 23.4% from RMB 193,565,000 in 2022[165]. - Basic and diluted earnings per share for 2023 were 26.45 RMB cents, down from 34.55 RMB cents in 2022, representing a decline of approximately 23.5%[165]. - The company declared dividends of RMB 35,016,000 in 2022, which were not declared in 2023[170]. - The company’s retained profits as of December 31, 2023, were RMB 1,340,015,000, down from RMB 1,471,933,000 at the beginning of the year[170]. Income and Expenses - For the year ended December 31, 2023, the Group recorded other income and gains of approximately RMB64,092,000, compared to RMB59,736,000 for the year ended December 31, 2022[16]. - Distribution and selling costs decreased to approximately RMB341,938,000 for the year ended December 31, 2023, from approximately RMB404,851,000 in the previous year, accounting for 40.6% of revenue in 2023, a 7.4% decrease from 48% in the corresponding period of last year[16]. - Administrative expenses increased to approximately RMB107,371,000 from approximately RMB105,098,000 last year, representing a rise of about 2.16%[17]. - The company recognized government subsidies totaling RMB 17,216,000 in 2023, compared to RMB 504,000 in 2022, reflecting a substantial increase in support received[185]. Assets and Liabilities - As of December 31, 2023, cash and bank balances amounted to RMB352,137,000, up from RMB113,601,000 in 2022, indicating a significant increase of approximately 209.5%[17]. - Total liabilities increased to RMB838,444,000 in 2023 from RMB760,543,000 in 2022, reflecting a growth of about 10.2%[17]. - The ratio of total liabilities to total assets was 36% in 2023, compared to 32% in 2022, indicating a rise in leverage[17]. - The gearing ratio derived from total borrowings to total net assets was 5.43% in 2023, up from 0.02% in 2022, showing a substantial increase in financial leverage[17]. - The Group's total assets were RMB2,318,824,000 in 2023, down from RMB2,372,841,000 in 2022, representing a decrease of approximately 2.3%[17]. - The Group's shareholders' equity decreased to RMB1,480,380,000 in 2023 from RMB1,612,298,000 in 2022, a decline of about 8.2%[17]. - The Group's total borrowings were RMB80,400,000 in 2023, significantly reduced from RMB400,000 in 2022, indicating a decrease in debt reliance[17]. Corporate Governance - The Company has established adequate systems of internal controls and risk management procedures as part of its corporate governance[66]. - The Board is responsible for corporate strategy, annual and interim results, succession planning, risk management, and major acquisitions[66]. - The Company has appointed independent non-executive directors with appropriate experience to safeguard shareholder interests[54]. - The Audit Committee reviewed the Group's unaudited quarterly and interim results and annual audited results, confirming compliance with applicable accounting standards[65]. - The Company has prepared a Compliance Manual to ensure adherence to GEM Listing Rules and conducts regular training for directors and senior management[150]. - The Company has expressed satisfaction with its operational performance and confidence in future development prospects[153]. Research and Development - The Company invested approximately RMB31,294,000 in research and development projects during the year[13]. - The consistency evaluation of Edaravone Injection has been passed and entered into the seventh batch of national centralized procurement[11]. - The Company has reported 22 products for consistency evaluation, with four products, including Edaravone, having passed the evaluation[9]. - The Company has strengthened new drug research and development, collaborating with multiple domestic pharmaceutical universities and research institutions[9]. Employee and Operational Insights - The Group had a total of 848 employees as of the reporting date[17]. - The Company has optimized its quality management system and improved the business capabilities of managers across all departments[8]. - The Company has increased the production capacity and range of traditional Chinese medicine extraction workshops by adding new extraction equipment[14]. - The Company has focused on academic promotion and organized academic conferences related to nephrology to enhance market presence[5]. Cash Flow and Investments - Cash generated from operations increased to RMB 376,934,000 in 2023, up from RMB 241,755,000 in 2022, marking a growth of approximately 56.0%[185]. - Net cash generated from investing activities was RMB 109,043,000, a significant improvement from a net cash used of RMB (117,971,000) in 2022[186]. - The net cash used in financing activities was RMB (186,454,000), compared to RMB (27,714,000) in the previous year, indicating higher financing costs[186].
吉林长龙药业(08049) - 2023 - 年度业绩