赛生药业2023中期报告

(Incorporated in the Cayman Islands with limited liability)( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) 股份代號Stock Code: 6600 Content Corporate information2Financial highlights and business review4Management discussion and analysis19Corporate governance and other information29Report on review of condensed consolidated financial statements59Condensed consolidated statement of comprehensive income61Condensed consolidated balance sheet63Condensed consolidated statement of changes in equity65Condensed consolidated statement of cash flows67Notes to the financial information69Definitions and glossary114 Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Zhao Hong(Chief Executive Officer and President)Ms. Pan Rongrong(Chief Financial Officer and Vice President) Non-executive Directors Li ZhenfuDaniel Luzius VasellaLin Shirley Yi-Hsien Mr. Li Zhenfu(Chairman)Dr. Daniel Luzius VasellaMs. Lin Shirley Yi-HsienMs. Wang Haixia Independent Non-executive Directors Chen PingGu Alex YushaoWendy Hayes Dr. Liu GuoenDr. Chen PingMr. Gu Alex YushaoMs. Wendy Hayes AUDIT COMMITTEE Wendy HayesLin Shirley Yi-HsienGu Alex Yushao Ms. Wendy Hayes(Chairwoman)Ms. Lin Shirley Yi-HsienMr. Gu Alex Yushao REMUNERATION COMMITTEE Gu Alex YushaoChen Ping Mr. Gu Alex Yushao(Chairman)Mr. Zhao HongDr. Chen Ping NOMINATION COMMITTEE Li ZhenfuWendy Hayes Mr. Li Zhenfu(Chairman)Ms. Wendy HayesDr. Liu Guoen JOINT COMPANY SECRETARIES Ms. Pan RongrongMs. Chan Sin Man Nico AUTHORISED REPRESENTATIVES Mr. Zhao HongMs. Pan Rongrong AUDITOR PricewaterhouseCoopers REGISTERED OFFICE PO Box 309, Ugland HouseGrand Cayman, KY1-1104Cayman Islands PO Box 309, Ugland HouseGrand Cayman, KY1-1104Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE IN THE PRC 38122 22/F, Central Plaza381 Middle Huaihai Road, ShanghaiPRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 3113401A 3401A, Windsor House311 Gloucester Road, Causeway BayHong Kong PRINCIPAL SHARE REGISTRAR Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary Hall, Cricket SquareGrand Cayman, KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary Hall, Cricket SquareGrand Cayman, KY1-1102Cayman Islands HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong HONG KONG LEGAL ADVISER Clifford Chance PRINCIPAL BANKS China Minsheng Banking Corp., Ltd. Hong Kong BranchCitibank N.A., Hong Kong BranchBank of China (Hong Kong) Limited www.sciclone.com WEBSITEwww.sciclone.com 6600 STOCK CODE6600 Financial Highlights and Business Review Financial Highlights 2023COVID-19 China’s economic data for the first half of 2023 indicated a steady post COVID-19recovery. However, persistent high inflation in Europe, interest rate hikes in theU.S.,international geopolitical tensions and the faltering recovery momentumhaveposed great challenges to our business.We were not immune to theheadwinds, but our performance over the Reporting Period and our continuedcommitment to investing in our future development reinforced our confidence indelivering long-term sustainable growth. Our performance over the Reporting Period: 20236301,603.38.7%20231,194.720225.3%202263018.4%630.2579.7202263055.810.6% Weachieved revenue of RMB1,603.3 million for the six months ended June30, 2023, 8.7% up from the same period last year. Our gross profit grew toRMB1,194.7 million for the first half of 2023, 5.3% ahead of the first half of2022. Net profit increased by 18.4% to RMB630.2 million as compared with thenet profit for the six months ended June 30, 2022. Operating cash flow reachedRMB579.7million,RMB55.8 million or 10.6%higher than that of six monthsended June 30, 2022. Increased input to underpin future success: 16.8%45.4%1)2)Go-To-PatientGTP6.23) During the Reporting Period, selling and marketing expenses increased by 16.8%and research and development (“R&D”) expenses grew by 45.4% compared withthe same period last year, reflecting our continued investments in: 1) recruitingand retaining key talents in commercialization and product development; 2) digitalcommercialization capabilities by upgrading “Go-To-Patient” (“GTP”) model to6.2 version to further increase product accessibility to patients; and 3) brand andloyalty enhancement through product lifecycle management and development. Our financial resources for continuous growth: 20236303122383.3%20.7% As at June 30, 2023, the total cash and cash equivalents and cash deposits (from3 to 12 months or in floating rates) amounted to approximately RMB2.3 billion,which were approximately 83.3% of our net assets. In addition, the ratio of totalborrowings to total assets remained healthy at 20.7%. We are actively searchingforpotential merger and acquisition targets and will continue to invest forgrowth, while remaining positive in improving financial performance. Financial Highlights and Business Review BUSINESS REVIEW First-in-classBest-in-class SciClone is a global