Financial Performance - For the fiscal year ending March 31, 2024, revenue from continuing operations was approximately HKD 1,467.8 million, an increase of about 15.8% compared to HKD 1,267.6 million in the same period of 2023[1]. - Operating profit from continuing operations for the same fiscal year was approximately HKD 333.1 million, up about 17.2% from the adjusted operating profit of HKD 284.3 million in 2023[1]. - Profit for the year was approximately HKD 290.8 million, representing a 14.4% increase from the adjusted profit of HKD 254.1 million in the previous year[1]. - The company's total comprehensive income attributable to equity holders from continuing operations for the year ended March 31, 2024, was HKD 193,815, a decrease of 38.6% compared to HKD 315,570 for the same period in 2023[23]. - The reported segment revenue for the year ended March 31, 2024, was HKD 1,467,814,000, representing an increase of 15.7% compared to HKD 1,267,868,000 for the previous year[64]. - The adjusted EBITDA for the reporting segments was HKD 453,079,000 for the year ended March 31, 2024, compared to HKD 444,173,000 for the previous year, reflecting a growth of 2%[64]. - The company reported a profit attributable to equity holders of HKD 210,236,000 from continuing operations for the year ended March 31, 2024, compared to HKD 207,513,000 for the previous year[70]. - The company’s total comprehensive income for the year ended March 31, 2024, was HKD 254,583,000, compared to HKD 250,345,000 for the previous year, showing a modest increase[65]. - The company’s effective tax rate for the year was maintained at 16.5%, consistent with the previous year[68]. Dividends - The board proposed a final dividend of HKD 0.03 per share, totaling approximately HKD 60.0 million, compared to a final dividend of HKD 0.0238 per share in 2023[1]. - The proposed final dividend per share is HKD 3.00 for the year ended March 31, 2024, compared to HKD 2.38 for the previous year, indicating an increase of 26.1%[74]. - The company distributed a special dividend of 492,259,244 shares of Jianbei Miao Miao, equivalent to approximately HKD 29.52 per share based on the closing price of HKD 1.16 on August 24, 2023[77]. Assets and Liabilities - Non-current assets totaled HKD 2,522.4 million, a decrease from HKD 3,623.1 million in the previous year[5]. - Current assets decreased to HKD 591.6 million from HKD 1,100.98 million in the previous year[5]. - Total equity decreased to HKD 2,396.4 million from HKD 3,256.5 million in the previous year[6]. - Cash and cash equivalents were HKD 411.9 million, down from HKD 1,036.4 million in the previous year[5]. - Non-current liabilities decreased significantly to HKD 717,651 as of March 31, 2024, from HKD 1,467,542 in 2023, a reduction of 51.1%[26]. - The net asset value of the company was HKD 2,396,360 as of March 31, 2024, down from HKD 3,256,522 in 2023, indicating a decline of 26.4%[26]. - The company’s total liabilities decreased to HKD 1,467,542 in 2024 from HKD 2,234,000 in 2023, indicating a reduction of 34.4%[26]. Operations and Market Presence - The company is primarily engaged in the development, production, marketing, and sale of non-patent drugs, with operations mainly in Hong Kong[7]. - The brand healthcare segment's performance has been classified as discontinued operations for the fiscal year ending March 31, 2024[4]. - The company has ceased operations in the brand medical healthcare business, classifying it as a discontinued operation[85]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[67]. - The company is optimistic about future growth, focusing on expanding its product portfolio and enhancing R&D capabilities[94]. - The company is developing an innovative e-business platform tailored for private clinics, which has received positive feedback and shows promising adoption rates[124]. - The company has expanded distribution agreements in selected Southeast Asian countries, including a signed agreement with Malaysia, and is considering clinical trials in the UK, Netherlands, and the US[179]. Research and Development - Research and development costs, excluding capitalized development costs, were HKD 6,450 for the year ended March 31, 2024, compared to HKD 1,166 in 2023, showing a significant increase[44]. - The R&D pipeline includes 185 products at various development stages, with 64 products already registered and 12 submitted for approval[145]. - The company successfully submitted 12 products for approval, enhancing its product pipeline and future market offerings[94]. - The company obtained exclusive rights to six effective specialty drugs across various fields, including gastrointestinal diseases and oncology, enhancing its product portfolio and driving continuous growth[123]. Employee and Operational Costs - Employee costs rose by HKD 42.6 million or 18.0%, reflecting the need for increased production to meet product demand[170]. - The group employed 1,723 employees as of March 31, 2024, compared to 1,484 employees as of March 31, 2023, indicating a strategic increase in workforce[189]. - The group provides various employee benefits, including annual leave, mandatory provident fund, group medical insurance, and life insurance[189]. - The company maintains a strong focus on employee recruitment, development, and retention, offering competitive compensation and training programs[161]. Market Trends and Demand - The demand for basic and specialty pharmaceuticals increased due to the recovery of social activities post-pandemic[105]. - The increase in flu cases, particularly among children and the elderly, has driven demand for cold and flu medications, resulting in growth in both public and private sector businesses during the reporting period[132]. - The aging population with complex health needs is driving the demand for chronic disease management medications, aligning with the value proposition of the non-patent drug market[184]. - The economic recovery in Hong Kong post-COVID-19 has led to a significant increase in inbound tourism and consumer spending, contributing to strong performance since Q1 2023[128]. Strategic Initiatives - The company’s strategic execution has resulted in substantial achievements and effective cost management[122]. - The collaboration with Fosun Kite Biotechnology for the CAR-T cell therapy Yescarta aims to enhance treatment options for specific types of lymphoma[151]. - The initial pilot phase of the medical e-business system has yielded positive results, reflected in good user feedback and excellent adoption rates[181]. - The platform provides unparalleled convenience for medical professionals and key customers, facilitating easy access to the product range and streamlining the ordering process[182].
雅各臣科研制药(02633) - 2024 - 年度业绩