Sino Biopharm (1177.HK) Announces 2023 Annual Results By Investing.com

[ad_1]

HONG KONG, March 29, 2024 – (ACN Newswire) – – Sino Biopharmaceutical Limited (“ Sino Biopharm (HK :)” or the “Company”, together with its subsidiaries, the “Group”) (HKEX: 1177), a leading pharmaceutical group in the PRC, has announced its financial results for the year ended December 31. 2023.

During the year, the Group recorded a total revenue of approximately RMB26.20 billion, an increase of approximately 0.7% over the previous year. The profit from the company’s shareholders was about RMB2.33 billion. Earnings per share attributable to the company’s shareholders were about RMB12.59 cents, down about 7.8% from last year, which was mainly due to the financial decline of its partner last year. Excluding the profit from the owner of the parent from discontinued operations, the share of profits and losses of associates and joint ventures (tax related to unrelated interests), one-time changes in impairment and changes in fair value. of other assets and liabilities (tax related to non-controlling interests), fair value (gains)/losses of current investments, share-related payments (all unrelated), loss on extinguishment of partially convertible bonds, fair value of derivative of the convertible bond, interest rate, exchange gain and fair value loss on financial instruments related to foreign currency transfer contracts for the debt portion of the convertible bond, non-HKFRS profit made by the owner of the parent. about RMB2.59 billion, an increase of about 1.5% over last year. The group’s financial position remains strong, and the total fund has deposits of about RMB21.13 billion, including cash and bank deposits under current assets of about RMB9.45 billion, non-current bank deposits of about RMB7.31 billion, and products total assets of approximately RMB4.37 billion in total.

The Board of Directors has recommended a final dividend payout of HK3 per share (2022: HK6 cents). Along with the dividend of HK2 cents already paid, the total dividend for the year was HK5 cents (2022: HK12 cents).

Sales: Strong and effective sales strategies continued to drive sales and revenue for new products

On the solid foundation that its drug business provides, the Company is rapidly changing with the help of innovation, a technology business that drives revenue growth and increases the share it receives every year. Revenue from new products reached RMB9.89 billion, up 13.3% year-on-year, and accounted for 37.8% of the Group’s total revenue.

During the year, the sales of oncology drugs were about RMB8.80 billion, representing about 33.6% of the Group’s revenue. Sales of surgery/analgesia and liver disease were approximately RMB3.75 billion and RMB3.82 billion, respectively, representing approximately 14.3% and 14.6% of the Group’s revenue, respectively. In addition, sales contributions from various areas such as respiratory, cardio-cerebral vascular medicine etc. were progressing at the same time. Among them, sales of respiratory and cardiovascular drugs account for approximately 11.3% and 10.5% of the Group’s revenue, respectively.

R&D: Actively conducted new equipment R&D and applied for patents

The group has continued to focus its R & D efforts on new drugs in the four therapeutic areas of oncology, liver disease, respiratory system and anesthesia / analgesia. As at the end of the reporting period, the Group had 145 products that are being prepared, including 60 oncology drugs, 9 drugs for liver disease, 31 respiratory system drugs, and 15 drugs for surgery / analgesia, of which 67 were Category I new products.

The group also considers it important to protect intellectual property rights and encourage member businesses to file patent applications for the group’s success. During the reporting period, the Group filed 841 new patent applications and received 264 patent applications. By the end of the reporting period, the Group had received 4,311 approvals and approval applications and received 1,595 permits.

Expectations: Enhance R&D capabilities in four therapeutic areas and promote two-pronged development strategies.

With the COVID-19 pandemic slowly abating, the economic and social order has returned to normal, and the pharmaceutical industry is expected to recover. The group has been closely monitoring the development of the country, people and industry, and has changed in time the development methods, which focus on the management of the central economy to achieve the rapid development of business and consistent change of results.

Sino Biopharm is committed to becoming “the world’s leading company in providing medical care to patients”. The group has increased its R&D investment in pharmaceuticals and built internal R&D capabilities. At the same time, it has greatly encouraged the development of business and cooperation, striving to be an international partner for pharmaceutical and biotechnology companies. Currently, the Group has entered the harvest period of its new development. In the next three years, more than 10 products are expected to be sold in the market, and another 30 or more products under R&D may be launched by 2030, which will continue to promote advanced development, strengthen the Group. dominance in the four therapeutic areas mentioned above and provides a strong impetus for its continued growth in the future. In the meantime, the Group will follow its two-pronged approach in establishing its global strategy, to become an important platform for global innovation. Through this process, the Group will introduce global medical innovations in China to help Chinese patients, as well as go global and open new markets to accelerate the satisfaction of unmet medical needs around the world.

Looking to the future, the Group will refocus on its core business and innovation capabilities, and continue to improve R&D performance and quality in four key therapeutic areas. It will also help to improve its global business expansion and is expected to grow rapidly in 2024.

Information about Sino Biopharmaceutical Limited (HKEX:1177)

Sino Biopharmaceutical Limited is a leading Chinese pharmaceutical company that continues to invest in Oncology, Hepatology, Respiratory and Surgery, and explore new therapies to improve patients’ lives. The company has strong manufacturing capabilities and access to patients in China. Sino Biopharmaceutical Limited is committed to bringing innovation to address unmet medical needs worldwide. The company was listed on the Hong Kong Stock Exchange in 2000, and was selected as part of the MSCI Global Standard Index in China in 2013; In 2018, it was selected as part of the ; The company has been listed in the “Top 50 Global Pharmaceutical Enterprises” published by the authoritative American Pharmaceutical Manager magazine for five consecutive years, and has been voted “Top 50 Most Successful Companies in Asia Pacific” by Forbes (Asia) three times in a row. age.

For more information, please visit: www.sinobiopharm.com

Copyright 2024 ACN Newswire. All rights reserved.

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *