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<Blue Chip Results>SINO BIOPHARM (01177.HK) Annual NP Falls 8.3% to RMB2.33B; Final DPS Down to HK3 Cents
Recommend 16 Positive 29 Negative 17 |
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SINO BIOPHARM (01177.HK) announced its annual results for the year ended December last year, with revenue of RMB26.2 billion, a slight increase of 0.7% YoY. Net profit declined 8.3% YoY to RMB2.33 billion, with an EPS of RMB12.59 cents. A final dividend of HK3 cents was declared, compared to HK6 cents in the same period in 2022. Together with the interim dividend already paid, the total DPS for the whole of 2023 amounted to HK5 cents, compared to HK12 cents for the whole of 2022. In Non-HKFRS terms, adjusted net profit rose 1.5% YoY to approximately RMB2.59 billion, and adjusted EPS was RMB13.97 cents. As of the end of last year, selling expenses to revenue ratio was about 35.1%, a YoY decrease of 2.6 ppts. R&D expenses to revenue ratio was about 16.8%, up 0.8 ppts YoY. For the year ended 31 December 2023, the group incurred total R&D expenses of approximately RMB4.704 billion, accounting for about 18% of its revenue, most of which was charged to the statement of profit or loss. During the reporting period, innovative drugs and biological drugs accounted for more than 77% of the total R&D investment, and the amount of investment increased by approximately 10% YoY. The oncology therapeutic area accounted for approximately 71% of the total R&D investment, and the amount of investment increased by more than 1% YoY. As of the end of last year, SINO BIOPHARM had 145 products under development, including 60 oncology products, 9 liver disease products, 31 respiratory system products, and 15 surgery/analgesia products, of which 67 were Category I innovative products. In the next three years, more than 10 innovative products of the group are expected to be launched to market, and the other 30 or more innovative products under R&D have the potential to be launched by 2030. AAStocks Financial News |
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