东瑞制药2025中期报告

2025INTERIM REPORT CorporateInformation2Group Structure4Financial Highlights5Management Discussion and Analysis6Other Information20Condensed Consolidated Statement of Profit or Loss27Condensed Consolidated Statement of Comprehensive Income28Condensed Consolidated Statement of Financial Position29Condensed Consolidated Statement of Changes in Equity31Condensed Consolidated Statement of Cash Flows33Notes to the Interim Financial Information37 Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORSMs. LI Kei Ling(Chairman)Mr. HUNG Yung Lai 20258 1 NON-EXECUTIVE DIRECTORMr. LEUNG Hong ManMr. HU Shuo (Appointed on 1 August 2025) EDE, Ronald Hao Xi INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. LO Tung Sing TonyMr. EDE, Ronald Hao XiMs. LAM Ming Yee Joan CHIEF EXECUTIVE OFFICER Ms. YU Liwei AUDITCOMMITTEE EDE, Ronald Hao Xi Mr. LO Tung Sing Tony(Chairman)Mr. EDE, Ronald Hao XiMs. LAM Ming Yee Joan REMUNERATION COMMITTEE EDE, Ronald Hao Xi Mr. EDE, Ronald Hao Xi(Chairman)Ms. LI Kei LingMr. LO Tung Sing TonyMs. LAM Ming Yee Joan NOMINATION COMMITTEE EDE, Ronald Hao Xi Ms. LI Kei Ling(Chairman)Mr. LO Tung Sing TonyMr. EDE, Ronald Hao XiMs. LAM Ming Yee Joan AUDITORS Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor DAWNRAYS PHARMACEUTICAL (HOLDINGS) LIMITED東瑞製葯（控股）有限公司0 2 PRINCIPAL BANKERS Bank of China (Hong Kong) Limited, Hong KongThe Hongkong and Shanghai Banking Corporation Limited, Hong KongBank of Communications (Hong Kong) Limited, Hong KongIndustrial and Commercial Bank of China Suzhou Wuzhong Sub-BranchAgricultural Bank of China Suzhou Nanmen Sub-BranchBank of China Suzhou Wuzhong Sub-Branch HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS 338303001–02 Units 3001–02, 30/F, CNT Tower, 338 Hennessy Road,Wanchai, Hong Kong REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins Drive, P.O. Box 2681,Grand Cayman KY1-1111,Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins Drive, P.O. Box 2681,Grand Cayman KY1-1111,Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong SHAREHOLDER’SCALENDAR Closure of Register of Members for Interim DividendThursday, 18 September 2025 to Friday, 19 September 2025(both days inclusive) Record Date to determine Shareholder’s entitlement to theInterim DividendFriday, 19 September 2025 0.015 Interim Dividend, payableHK$0.015 per share, payable on or about 3 October 2025 0 3INTERIM REPORT 2025二零二五年中期報告 Group Structure The board (the “Board”) of directors (the “Directors”) of DawnraysPharmaceutical(Holdings)Limited(the“Company”)is pleased toannounce the unaudited consolidated interim results of the Companyandits subsidiaries(collectively,the“Group”)for the six monthsended30 June 2025(the“period”)together with the comparativefigures for the corresponding period in 2024. These interim resultshave been reviewed by the audit committee of the Company. Management Discussion and Analysis RESULTS 630,424,000577,447,0009.2%104,572,000493,046,00078.8%35%277,627,00089,292,000366,919,00021,555,00017.1% TheGroup recorded revenue of approximately RMB630,424,000for the six months ended 30 June 2025 (2024: RMB577,447,000),representingan increase of approximately 9.2%as compared tothe same period of 2024. Profit attributable to owners of the parentwasapproximately RMB104,572,000(2024:RMB493,046,000),representinga decrease of approximately 78.8%as comparedtothe same period of 2024.Excluding the non-recurring profitsofRMB366,919,000 including the net gain of approximatelyRMB277,627,000from the sale of 35%equity interest in ADPharmaceuticalsCo.,Ltd.(“AD Pharmaceuticals”)and the netgain of approximately RMB89,292,000 from government grants forequipment verification at Tianling Road factory of Suzhou Dawnrays inthe previous year, operating profit decreased by RMB21,555,000, or17.1%. The decrease in profit during the period was mainly attributedto the unattainable large-scale commercial production of the factoryatShanfeng Road of Suzhou Dawnrays Pharmaceutical Co.,Ltd.(“SuzhouDawnrays”)and Lanzhou Dawnrays Pharmaceutical Co.,Ltd. (“Lanzhou Dawnrays”), the price drop of centralized procurementproducts such as “An” () Series in some provinces due to nationalpolicies, and the increase in research and development expenses. INDUSTRY ENVIRONMENT In the first half of 2025, the pharmaceutical industry continued tomake progress in the wave of policy changes, market competition andquality improvement, showing a complex and diversified developmenttrend. 50% At the policy level, centralized procurement entered a new stage in2025, and the National Healthcare Security Administration has made