Financial Performance - The group's operating revenue for the year ended December 31, 2023, was RMB 4,516,538,000, an increase of 14.3% compared to the previous year[2] - The annual profit reached RMB 969,510,000, representing a growth of 34.1% year-on-year[2] - The earnings per share were RMB 1.28, with a proposed interim dividend of RMB 0.43 per share for 2024[2] - The company achieved a net cash per share of RMB 6.76, equivalent to HKD 7.43[2] - The group reported record sales and profits, with sales exceeding RMB 4.5 billion, driven by growth in respiratory medications and proprietary oral products[3] - The company achieved a record sales revenue of RMB 4,516,538,000 in 2023, representing a 14.3% increase compared to the previous year[6] - Net profit for 2023 reached RMB 969,510,000, marking a growth of 34.1% year-over-year[6] - Gross margin improved by 0.7 percentage points to 75.1%, while net profit margin increased from 18.3% to 21.5%[6] - The company generated free cash flow of approximately RMB 788,310,000, equivalent to RMB 0.95 per share[6] - The profit attributable to the owners of the company for 2023 was RMB 969,510,000, an increase of approximately 34.1% compared to 2022, driven by increased sales revenue and improved operational performance[34] Revenue Breakdown - The sales of injection products increased by 25.5%, driven by a significant rise in the sales of Qingkailing injection, which grew by 75.1% to RMB 850,751,000[8] - Oral product sales accounted for 60.5% of total sales, with an overall growth of 8.0% despite a slowdown in the second half of the year[9] - Sales of essential medicines included in the national essential drug list rose by 32.8% to RMB 1,743,820,000, representing 38.6% of total sales[11] - Prescription drugs and OTC drugs accounted for approximately 87.1% and 12.9% of total sales, respectively, with prescription drugs growing by 14.6%[12] - The sales of influenza treatment respiratory prescription drugs reached RMB 1,102,257,000, an increase of 62.4%, accounting for 24.4% of the total sales[14] - The sales of Qingkailing injection reached RMB 850,751,000, up 75.1%, representing 18.8% of the total sales[14] - The sales of traditional Chinese medicine formula granules increased by 8.9% to RMB 1,201,664,000, accounting for 26.6% of total sales[16] - The sales of exclusive oral prescription products grew by 7.0% to RMB 445,150,000, with significant increases in several specific products[18] - OTC drug sales increased by 12.6% to RMB 583,217,000, with Huoxiang Zhengqi soft capsules growing by 23.3% to RMB 187,249,000[19] Research and Development - The company is advancing multiple research and clinical projects, including the approval of the traditional Chinese medicine "Yiguan Jian Granules" for market[3] - The company plans to continue strengthening R&D investment, focusing on modern Chinese medicine for chronic disease treatment[20] - The group has nearly 100 R&D projects converting ancient classic prescriptions into new traditional Chinese medicines[23] - The company’s research and development costs for 2023 were RMB 110,462,000, slightly down from RMB 117,454,000 in 2022[40] Market Strategy and Opportunities - The group is focusing on digital transformation and smart manufacturing, aiming to establish itself as a leader in the modern Chinese medicine industry[5] - The Chinese government's support for traditional Chinese medicine is expected to enhance market opportunities, with plans to build 130 key hospitals and 64 medical centers by 2025[4] - The company plans to continue expanding its competitive advantages in the formula granule sector and implement a multi-product, multi-channel marketing strategy to drive growth[4] - The company aims to accelerate market development in key provinces and enhance sales in grassroots medical institutions[16] Financial Position and Assets - As of December 31, 2023, the company had cash and bank balances of RMB 5,888,776,000, with net cash per share of HKD 7.43[6] - The total assets less current liabilities amounted to RMB 7,140,275,000 as of December 31, 2023, compared to RMB 6,566,268,000 in 2022[41] - The company’s net assets increased to RMB 7,034,768,000 in 2023 from RMB 6,382,526,000 in 2022[42] - The net book value of property, plant, and equipment as of December 31, 2023, was approximately RMB 1,205,287,000, a decrease of about 1.0% from the previous year[36] Dividends and Shareholder Returns - The company declared an interim dividend of RMB 0.43 per share, with a total dividend related to the fiscal year 2023 amounting to RMB 0.54 per share, resulting in a payout ratio of 42.2%[6] - The company did not recommend any final dividend for the year ended December 31, 2023, but declared an interim dividend of RMB 0.43 per share for the year ending December 31, 2024, totaling RMB 324,822,000[38] - The company declared an interim dividend of RMB 0.31 per share for 2023, totaling RMB 324,822,000, compared to RMB 234,174,000 for the previous year, marking a rise of 38.7%[58] Compliance and Governance - The audit committee has reviewed the audited financial performance for the year ending December 31, 2023, confirming compliance with relevant standards[70] - The company has adopted a higher standard for securities trading by directors than those stipulated in the listing rules, ensuring compliance throughout the year[69] - The company will hold its annual general meeting on May 31, 2024, as per the requirements of the Hong Kong Stock Exchange[65] - The company will publish its annual report, including the board report and audited consolidated financial statements, on its website and the Hong Kong Stock Exchange website[71]
神威药业(02877) - 2023 - 年度业绩