Revenue and Sales Performance - In 2022, the revenue breakdown for medical device products was as follows: clinical care 34.7%, anesthesia and surgical related products 4.5%, medical testing 2.4%, and other consumables 7.2%[11]. - The sale of orthopaedic products accounted for 13.4% of total sales, while interventional products contributed 14.2% and pharma packaging products made up 15.5%[11]. - Total revenue for 2022 reached RMB 13,619,007,000, representing a 3.1% increase from RMB 13,208,942,000 in 2021[18]. - Sales of medical testing products grew by 10.5% to RMB 325,680,000 in 2022, compared to RMB 294,833,000 in 2021[13]. - Sales of other consumables surged by 38.8% to RMB 979,131,000 in 2022, up from RMB 705,304,000 in 2021[13]. - Sales of orthopaedic products decreased by 13.9% to RMB 1,830,419,000 in 2022, down from RMB 2,126,594,000 in 2021[13]. - The PRC accounted for 76.8% of total sales in 2022, down from 79.9% in 2021[16]. - Sales in the United States increased by 11.0% to RMB 1,272,330,000 in 2022, compared to RMB 1,145,923,000 in 2021[17]. - The Company experienced a 29.9% increase in sales from other regions, totaling RMB 399,002,000 in 2022[17]. Profitability and Financial Metrics - Gross profit decreased by 3.3% to RMB 7,113,082,000 in 2022, down from RMB 7,352,893,000 in 2021[18]. - Net profit attributable to the owners of the Company, excluding extraordinary items, increased by 19.7% to RMB 2,723,309,000 in 2022[18]. - The gross profit margin decreased from 55.7% to 52.2% due to changes in product structure[24]. - The clinical care business recorded a turnover of approximately RMB 4,726,552,000, an increase of 2.0% over last year[25]. - The interventional business recorded a turnover of approximately RMB 1,938,237,000, representing an increase of 9.3% over last year, mainly due to significant growth in Argon sales[25]. - The pharma packaging business recorded a turnover of approximately RMB 2,105,432,000, representing an increase of 3.2% over last year[25]. - Blood management revenue increased by 12.4% to RMB 1,097,960,000 from RMB 976,862,000 in the previous year[35]. Research and Development - The company is engaged in the research and development, production, and sale of various medical device products, indicating a strong focus on innovation[7]. - Total research and development expenses amounted to approximately RMB 546,552,000, representing 4.0% of the Group's revenue[27]. - The Group obtained 123 new patents and has 171 new patents under application in the PRC, with 60 new product registration certificates obtained[25]. Corporate Governance and Management - The independent auditor for the company is Deloitte Touche Tohmatsu Certified Public Accountants, ensuring compliance and transparency in financial reporting[6]. - The Board proposed a final dividend of RMB 0.079 per share for the year ended 31 December 2022, totaling RMB 361,080,000, an increase from RMB 297,091,000 in 2021[21]. - The final dividend will be subject to shareholder approval at the Annual General Meeting[21]. - The Company has adopted the Model Code for securities transactions by Directors, confirming compliance throughout 2023[149]. - The Board of Directors consists of nine members, including four executive Directors, two non-executive Directors, and three independent non-executive Directors[153]. - The Company emphasizes the importance of good corporate governance as part of its culture to create value for shareholders[136]. - The Company has established a corporate governance committee on May 30, 2013, to develop and review corporate governance policies[181]. Investments and Acquisitions - The Group invested approximately RMB 1,069,636,000 in the purchase of properties and production facilities during the year[44]. - The Group acquired 100% equity interest in Weihai Weigao Medical Materials Company Limited for RMB 288,000,000, focusing on infection protection products[44]. - In January 2023, the Group's subsidiary Weigao Orthopaedic agreed to acquire 100% equity interest in Shandong Weigao Newlife Medical Device Co., Ltd. for RMB 1,030,000,000, with an estimated payment of RMB 721,000,000 in 2023[45]. Employee and Workforce Information - The total number of employees as of December 31, 2022, was 12,122, an increase from 11,123 in the previous year[36]. - The total cost of salaries, welfare, and social benefits for the Group amounted to approximately RMB 2,178,787,000, up from RMB 2,068,103,000 in 2021[38]. - The gender ratio in the workforce was 56% male and 44% female as of December 31, 2022[139]. Market Strategy and Competitive Position - The company is leveraging its extensive market coverage and product portfolio to enhance competitiveness and market share[48]. - The Group's strategy of integrating sales channels has strengthened market penetration and increased sales contribution per customer[34]. - The company aims to enhance customer loyalty and global market shares by focusing on international customer development and seizing overseas market opportunities[52]. - The company has expanded its product portfolio in specialist care sectors such as anesthetics, pulmonology, and urology[49]. Financial Health and Cash Flow - The Group's cash and bank balance as of December 31, 2022, amounted to approximately RMB 6,862,278,000, with a net cash flow from operating activities of approximately RMB 2,214,574,000 for the year[43]. - Total interest expenses for the Group for the year ended December 31, 2022, were approximately RMB 191,401,000, compared to RMB 140,441,000 in 2021[43]. - The gearing ratio of the Group decreased to 20.1% as of the end of 2022, down from 20.9% in 2021[43]. Shareholder and Investor Relations - The Company maintains an ongoing dialogue with shareholders and investors, regularly reviewing its communication policy to ensure effectiveness[196]. - The Company disseminates information to shareholders through interim and annual results reports, Stock Exchange announcements, and general meetings[195]. - The external auditor is appointed as the scrutineer to ensure proper counting and recording of votes at shareholders' meetings[199]. Connected Transactions - The Company acquired Weigao Medical Materials for a cash consideration of RMB 288 million, constituting a connected transaction under the Listing Rules[127]. - The auditor performed assurance procedures on the continuing connected transactions for the year ended December 31, 2022, in accordance with relevant standards[134]. - The independent non-executive directors confirmed that the continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[132]. Future Outlook and Strategic Plans - The management is confident in the long-term sustainable development and growth of the company in 2023 and beyond, despite macroeconomic uncertainties[62][64]. - The company aims to enhance its product portfolio through R&D, domestic and international collaborations, and acquisitions, focusing on "platformization," "internationalization," and "digitalization" as key strategies[61].
威高股份(01066) - 2022 - 年度财报