森松国际二零二三年中期报告

（於香港註冊成立的有限公司）股份代號：2155 釋 義 及 詞 彙4 管 理 層 討 論 與 分 析8 補 充 資 料39 43 44 45 47 49 未 經 審 核 中 期 財 務 報 告 附 註50 829 29 1617 www.morimatsu-online.com 153232033207 1812525032505–06 108 6002 10021 2155 10011 MVP MVP Solutions+ MVP Machines- Values- Plants-++ MVP Solutions+ MVPSolutions+ (1)(2)(3)(4)(5)(6) Process Design PackagePDP (1)(2)(3)(4) MVPSolutions+ 70.89% 199920 (Audit)—(Qualification)—(ProjectCooperation)—(ValueUpgrade)—(GlobalCooperation)—(GlobalStrategic Cooperation)10 2019— 202320034520231.7%101%IMF2023120232.9%102.7%20243.1%IMF··(Pierre-OlivierGourinchas)20237132023202320.12.1%11.463.7% 2023316203040%65%202281640%50%2023226900 20235112023428GSYuasa4,300220.320GWh20234281,84613.8202342190GWh202342SDI30207.730GWh2026 CXO CXO2022928CDMO2020CDMO55420172021CDMOCAGR13%2020CDMO31720172021CDMOCAGR38%CXO CXOCXO2023512202212CXO517.698.3%20192022CAGR13.7%CROCDMO339.03150.6927.976.4%11.1%16.5%20192022CAGR11.4%19.5%14.2%CDMO201912.4202234.7CDMOLonza202620221.78520223132% CXOCXO CEMIA202023%820%5% 2023426CEMIA2021458.3(OLED)2025697.231%29%39% 2023325Reportlinker2019202682123CAGR6.0%81153CAGR9.5%202124.7119.49%20152021CAGR12.03%201921.9%202126.9%20214.9343.7%201510.4%202120.0% 20223,691,75924.5%422,34639.5% (1)(2)(3)(4)20236309,866,4574,922,003 2023 130,0002023 MorimatsuDialog—Morimatsu Dialog 4,000600 (1) (2) (3) (1)(2)(3)(4)(5)(6)(7)(8)(9) 202120222023 Alpha 20226302,964,86524.5%20236303,691,759 20226302,176,44123.3%20236302,682,667 2022630788,42428.0%20236301,009,09227.3% 202263046,14932,028202363014,121 202263095,43716,451202363078,98620236302.1%20223.2% 2022630228,48140,6872023630269,1681220221220236307.3%20227.7% 2022630145,50522,5852023630168,090110022022 202263038,69236,709202363075,401202363015.2%202211.3%3.9%12 2022630302,536118,4932023630421,029202363011.4%202263010.2%1.2% 2023630573,4502022630400,647172,80343.1%2023630626,9592022630470,072156,88733.4% 202212311,165,7858.0%20236301,071,959 20221231830,9274.9%2023630789,97112 202212312,213,7287.6%20236302,381,514 202212312,890,0482.4%20236302,821,847 20236301,932,305202212311,370,359561,9462023630480,635 20236302,115,000146,314300,00093,00016,400,0004,281,388869,79054,3243,09493,00082,0001,376,5492,904,839 20221231444,23310.0%2023630399,788 20236303.73%~6.29%180,240219,548313,578180,3781133,2002586,210466185,74412 2022123115.7%202363010.2% 2023630 2023630 202314CICC(1)CICCCICC8.3080,000,000(2)80,000,0002023149.472023141,073,795,900 20231980,000,0008.3020231128.3080,000,000654.7 202314 *2023 2023142023112 2023116PharmaduleSingapore2023630Pharmadule Singapore500,000 2023224T&SMorimatsuDialog5,610,0002023630Morimatsu Dialog25,000,000 202353020236302,02024.75% 2,000 2023630 2023831,00088% 20236304,00060013% 2023630 8 2023630 25% 2021628686,690 (1) (2) (2) (3) 132,380,00011.22% (4) 0.0001 (5) 1)20%2)20%3)20%4)20%5)20% (6) 10 (7) 2020712023630 26,476,00020236302.24%6.34 (8) (1) (2) (2) (3) 130% 2(3)14510%100,000,0008.47% 3(3)2 4 A.10%B.C.17 5 A.B.1717 (4) 121% 117217173 (5) (i)(ii)(iii)1.00 (6) (i)0.1%(ii)5(A)1717(B) (7) (i)(ii) (8) (9) 2023630 100,000,000 (8) 2021121520221520211215202215 (1) (2) (3) (4) (5) (5) 30,000,0002.54%110%21% (6) 202363029,459,70029,459,70014920236302.50%540,300 (7) 4.17 (8)29,459,700 19,819,90020231529,819,90020241539,819,900202515 (9) 12 202112152022152021121520221543,2004.17 8.519.4720236309,819,90020236300.83% (3) 13.51B(1) 2023116Pharmadule Singapore 20238113602360 13.51B(1) 2023630336 1(L)220236301,180,271,9003100%416,810,000 2023630336 2023630XVXV78352 1220236301,180,271,900 18.75%33.62%29%259.32% 2023630XVXV78352 2023630— 2023630— 20236 30— 2023630— 2023630— 517,012533,713(61,907)(41,068) 455,105492,645 1 (a) 342023822 202220232 34 2022 20221231622436 662(3)6320221231 406(2)407(2)(3) 2 1781212— 17 17417 8 12 2 12 12— 3 (a) (i) 15 3 (a) (i) 2022630202363010% (ii) 3 (b) 8 4 5 5 (i)202363089,549,000202263073,046,0005,271,00020226305,077,0005(b) (ii)2023630284,686,0002022630262,693,00035,171,000202263030,550,0005(b) 6 (a) (i)25% 2023202263016.5%20232022630 Pharmadule Morimatsu AB2023202263020.6% Pharmadule Morimatsu IncMorimatsu Houston Corporation2023202263021% PharmaduleEngineering India Private Limited2023202263025.17%25%2022630PharmaduleEngineering India Private Limited T&S2023202263033.58%20232022630T&S 6 (a)(i) Morimatsu Italy S.R.L.2023202263024%20232022630Morimatsu Italy S.R.L. 2023202263030% Morimatsu Pharmadule (Singapore) Pte. Ltd.202363017%2023630Morimatsu Pharmadule (Singapore)Pte. Ltd. (ii) (iii)202320221231200% 6 (a) (iv)10%10% (v) 7 (a) 422,346,0002022630302,672,0001,147,734,00020221,037,718,000 7 (b) 422,346,0002022630302,672,0001,240,786,00020221,091,917,000 8 2023630386,388,0002022630113,959,000321,0002022630197,0002023630281,0002022630 9 20236301,263,000202263013,990,000 11 20236305