兴科蓉医药年报 2025

ANNUAL REPORT年報2025 Contents 2Corporate Information4Financial Highlights6Chairman’s Statement9Management Discussion and Analysis26Directors and Senior Management33Report of the Directors51Corporate Governance Report73Independent Auditor’s Report 80Consolidated Statement of Profit orLoss and Other Comprehensive Income81Consolidated Statement of Financial Position83Consolidated Statement of Changes in Equity84Consolidated Statement of Cash Flows87Notes to the Consolidated Financial Statements178Definitions Corporate Information BOARD OF DIRECTORSExecutive Directors Mr. Huang Xiangbin(Chairman)Mr. Huang Zhijian(Vice Chairman)Mr. Lei Shifeng Non-executive DirectorMs. Jing Huan Independent Non-executive DirectorsMr. Bai Zhizhong(Lead Independent Non-executive Director)(appointed as Lead Independent Non-executive Director on27 August 2025)Mr. Lau Ying KitMr. Liu WenfangMr. Wang Qing (20258 27 AUDIT COMMITTEE Mr. Lau Ying Kit(Chairman)Mr. Liu WenfangMr. Wang QingMr. Bai Zhizhong REMUNERATION COMMITTEE Mr. Wang Qing(Chairman)Mr. Liu WenfangMr. Bai ZhizhongMr. Lei Shifeng 20258 2720258 27 NOMINATION COMMITTEE Mr. Huang Xiangbin(Chairman)Mr. Liu WenfangMr. Lau Ying KitMs. Jing Huan(appointed on 27 August 2025)Mr. Bai Zhizhong(appointed on 27 August 2025) INTERNAL CONTROL AND CORPORATEGOVERNANCE COMMITTEE Mr. Lau Ying Kit(Chairman)Mr. Wang QingMr. Liu WenfangMr. Bai ZhizhongMr. Lei Shifeng AUTHORISED REPRESENTATIVESMr. Huang XiangbinMs. Peng Yunlu COMPANY SECRETARYMs. Peng Yunlu PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands REGISTERED OFFICE PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands 2 Sinco Pharmaceuticals Holdings LimitedAnnual Report 2025 Corporate Information CORPORATE HEADQUARTERS 1700E5-1805 E5-1805, Global CentreNo. 1700, North Section of Tianfu AvenueHigh-Tech Zone, ChengduSichuanPRC PRINCIPAL PLACE OF BUSINESSIN HONG KONG 1112403 Room 2403, Wing On Centre111 Connaught Road CentralHong Kong CAYMAN ISLANDS PRINCIPAL SHAREREGISTRAR AND TRANSFER OFFICE Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands HONG KONG BRANCH SHARE REGISTRAR Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17/F, Hopewell Centre,183 Queen’s Road EastWan ChaiHong Kong 183171712 1716 HONG KONG LEGAL ADVISERTian Yuan Law FirmLLP AUDITOR Rongcheng (Hong Kong) CPA Limited(formerly known as CL Partners CPA Limited)Certified Public AccountantsRegistered Public Interest Entity Auditor STOCK CODE ON THE MAIN BOARD OF THESTOCK EXCHANGE OF HONG KONG LIMITED6833 6833 www.sinco-pharm.com COMPANY’S WEBSITEwww.sinco-pharm.com LISTING DATE10 March 2016 20163 10 2025 Financial Highlights •Revenue of the Group decreased by 26.1% or RMB736.7 million toRMB2,084.6 million for the Reporting Period (2024: RMB2,821.3million), among which revenue from sales of human albumin solutiondecreased by approximately RMB720.0 million, mainly due to thedecrease in sales volume. •26.1%736.72,084.620242,821.3720.0 •Gross profit of the Group decreased by RMB77.8 million to RMB222.1million for the Reporting Period (2024: RMB299.9 million). The grossprofit margin was 10.7% (2024: 10.6%) for the Reporting Period. Thedecrease in gross profit was in line with the decrease of the sales. •77.8222.12024299.910.7%202410.6% •Net profit of the Group amounted to RMB34.9 million for theReporting Period, which decreased by RMB7.1 million as compared tothe net profit of 2024 amounted to RMB42.0 million. •34.9202442.07.1 •During the Reporting Period, net profit attributable to owners ofthe Company amounted to RMB34.9 million (2024: net profit ofRMB42.0 million), representing a decrease of 16.9%. •34.9202442.016.9% •Basic and diluted earnings per share amounted to RMB0.017 forthe Reporting Period (2024: basic and diluted earnings per share ofRMB0.02). •0.01720240.02 •The Board resolved to declare a final dividend in respect of the yearended 31 December 2025 of HK0.167 cents (2024: final dividend inrespect of the year ended 31 December 2024 of HK0.20 cents) perordinary share, in an aggregate amount of HK$3,400,000 (2024:HK$4,000,000). The dividend has been proposed by the Directors ofthe Company and is subject to approval by the shareholders at theforthcoming general meeting. The final dividend has been calculatedby reference to the 2,032,890,585 issued shares outstanding as atthe date of this report. •202512310.1672024202412 310.203,400,00020244,000,0002,032,890,585 Chairman’s Statement Dear Shareholders, On behalf of the Board, I would like to express my sincere gratitude to allShareholders for their long-term concern and support to the Company,and hereby present the business operations and development review ofthe Group during the Reporting Period. In 2025, the pace of global macroeconomic recovery ease