Research and Development - The company has over 100 ongoing research projects and has obtained more than 100 patents[6]. - The company has expanded its product range to include biopharmaceuticals and veterinary medicines, with a global sales network covering nearly 80 countries and regions[6]. - The company has received clinical trial approvals for several first-class innovative drugs, including UBT251 injection for type 2 diabetes and TUL01101 tablets for moderate to severe atopic dermatitis[12]. - Research and development expenditure for the year reached RMB 808,300,000, reflecting a 36.2% increase year-on-year[24]. - The company is expanding its pipeline in areas such as metabolism, autoimmune diseases, ophthalmology, and anti-infection, with new drugs for dry eye disease and moderate to severe atopic dermatitis entering clinical trials[24]. - The company is developing 39 new human drug products, including 19 Class 1 new drug projects[37]. - The company’s new drug TUL12101 eye drops received approval for clinical trials in March 2023, targeting dry eye treatment[37]. - The company has been actively involved in the development of recombinant protein drugs, particularly in diabetes biopharmaceuticals, for over 18 years[61]. Financial Performance - The company reported a revenue of RMB 13,739,879,000 for 2023, representing a 21.2% increase from RMB 11,334,262,000 in 2022[17]. - Profit attributable to the company's owners reached RMB 2,701,350,000, a significant increase of 70.9% compared to RMB 1,581,094,000 in the previous year[17]. - Basic earnings per share rose to RMB 148.67, up 71.1% from RMB 86.89 in 2022[17]. - The company’s EBITDA was approximately RMB 3,976,700,000, reflecting a year-on-year growth of 50.6%[32]. - The company’s total comprehensive income for the year was RMB 2,701,270 thousand, compared to RMB 1,582,450 thousand in 2022, marking an increase of 70.8%[129]. - The company reported a pre-tax profit of RMB 3,344,148 thousand, which is an increase of 66.5% from RMB 2,006,766 thousand in 2022[127]. - The financial costs decreased to RMB 66,896 thousand from RMB 81,595 thousand, indicating a reduction of 18.0%[127]. - The company’s total assets increased to RMB 12,747,618 thousand in 2023, compared to RMB 10,609,431 thousand in 2022, representing a growth of approximately 20.1%[134]. Dividends and Shareholder Returns - The company plans to distribute a final dividend of RMB 28.0 per share and a special dividend of RMB 12.0 per share, totaling an annual dividend of RMB 52.0 per share, which is an increase of 108.0% from RMB 25.0 in 2022[17]. - The company reported a proposed final dividend of RMB 0.28 per share and a special dividend of RMB 0.12 per share, subject to shareholder approval at the upcoming annual general meeting[63]. - The total share premium and reserves available for distribution to shareholders is approximately RMB 4,790,000,000[66]. Corporate Governance - The company emphasizes strong governance with a diverse board and experienced management team to drive strategic initiatives[58]. - The board consists of six executive directors and three independent non-executive directors, with five established committees for oversight[91]. - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's requirements, ensuring high standards of governance[89]. - The board of directors has established a policy to achieve a balanced strategy goal for diversity among board members, with a current gender diversity ratio of 33.3% (3 out of 9 directors being female)[94]. - The company has implemented a policy to consider diversity factors in the recruitment and selection of senior management and staff[94]. Market Expansion and Strategic Initiatives - The company is actively pursuing market expansion through trade relationships with BRICS countries and along the Belt and Road Initiative, enhancing its global sales network[27]. - The company has launched a cross-border production product, vitamin C effervescent tablets, in the Greater Bay Area, marking a significant milestone[10]. - The company has completed the acquisition of I, which is projected to add $J million in annual revenue and strengthen its market position[180]. - Strategic initiatives include a focus on sustainability, with plans to reduce carbon emissions by K% by 2025[181]. Risk Management and Compliance - The company is actively managing currency exchange risks through treasury policies and forward contracts[43]. - The company has maintained compliance with applicable laws and regulations, with no significant violations reported during the fiscal year ending December 31, 2023[85]. - The internal control system was deemed sufficient and effective by the board, with no significant events affecting the group's ability to continue as a going concern[107]. Investor Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[112]. - The investor relations team, led by the Vice Chairman and the Director of Investor Relations, will continue to engage with investors through various platforms, including roadshows and conference calls[112]. - The company is committed to maintaining high-quality investor relations as part of its management philosophy[112]. Management and Staffing - The company employed approximately 15,000 staff as of December 31, 2023, an increase from 14,000 in 2022[44]. - The executive team includes Mr. Tsoi Hoi Shan as Chairman and Executive Director, with over 23 years of experience in quality control[53]. - The company has experienced significant management continuity, with key executives having over 20 years of experience in the pharmaceutical industry[60][61]. Financial Reporting and Accounting Standards - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards and reflect a true and fair view of the group's financial position as of December 31, 2023[114]. - The company expects that the application of the revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[160]. - The group has not yet applied the temporary exception related to the OECD's Pillar Two rules, as the relevant jurisdictions have not implemented these rules[149].
联邦制药(03933) - 2023 - 年度财报