Net
profits HK$276 million; Interim dividend HK$0.05/share
Continuous
innovation & scientific research;
Whole-industry-chain approach development
Result summary:
- Total revenue HK$2,443 million, representing a growth of 37.0%;
- Net profits HK$276 million, representing a growth of 11.6%;
- The Board resolved to pay interim dividend of HK$0.05 /share
HONG KONG SAR - Media OutReach - 27 August 2021
- SSY Group Limited ("SSY" or the
"Company"; Stock Code: 2005.HK) and its subsidiaries (together, the "Group")
presents the interim results of the Company for the six months ended 30 June
2021.
During the first half
of 2021, the Group achieved a revenue of HK$2,443 million, representing an increase
of 37.0% with gross profit
margin 60.2%, representing a decrease of 3.8 percentage point compared to the
corresponding period of last year. The Group achieved a net profit of HK$276 million,
representing an increase of 11.6% compared to the corresponding period of last
year. Amidst the normality under novel coronavirus epidemic domestically and
internationally and despite the severe challenges brought by the unexpected
outbreak of the epidemic in Shijiazhuang in early 2021, the Group managed to
cope well with unfavorable factors arising from the epidemic with its endeavor
in production and implementation of various measures to ensure market support. The
Group continued to promote its business strategy of scientific research,
innovation and structural optimization, increased its effort in promoting the
formation of the operation pattern of integrated and collaborative development
in relation to the whole industry chain and diversified dosage forms from
medical materials, bulk pharmaceuticals to high-end preparations. During the first
half year, the Group actively took measures to make new breakthroughs in
enhancing the market share of dominant products, and to accelerate the access
and growth of new preparation products and common bulk pharmaceuticals. Taking the opportunity brought by
National Centralized Procurement as well as provincial and regional Group
Purchasing Organization Programme, the Group took various measures to
strengthen the market-driven effect brought by the centralized procurement
policy to continuously expand the market accessibility of the Group's products.
The Board of directors proposed to pay an interim dividend of HK$0.05
per share for year 2021, which is unchanged from the corresponding period of
last year. The total amount of
interim dividend this year to be paid is approximately HK$151 million.
Amidst
the normality under epidemic, the supply and demand in the domestic
pharmaceutical market was undergoing a gradual recovery, and the production and
sales of the Group's infusion solutions, especially
therapeutic infusion products, was showing a steady increase in growth. During
the first half year, the sales volume of infusion solutions reached 632 million
bottles (bags), representing an increase of 31% compared to the corresponding
period of last year. The revenue of infusion solutions reached RMB1,273
million, representing an increase of 19% compared to the corresponding period
of last year. Ampoule products have become an important growth driver for the Group's injection segment as it has become
increasingly rich in varieties with its production and sales gradually scaled
up. During the first half year, the revenue of ampoule products was RMB406
million, representing an increase of 53%, which continued to maintain a rapid
growth momentum.
In
respect of bulk pharmaceuticals business, the domestic and international market
demand was showing a recovery growth. After continuous optimization and
improvement of production process, transformation and enhancement of
environmental protection treatment capacity, the production capacities of the
Group were released rapidly, and the product advantages such as cost and
quality were further demonstrated. Solid preparations business segment has been
accelerated its cultivation and expansion. Leveraging on tender awarded for
National Centralized Procurement, the Group gradually enhanced the sales
proportion of solid preparations from year to year. In respect of medical
materials, Jiangsu Best New Medical Material Co., Ltd. continued to strengthen
the build-up of innovation capability and enhance the supporting capacity of
the downstream production chains in medical materials, which facilitate the
improvement of production capacity and market coverage. Newly developed
multi-layer co-extrusion bioprocessing films for single-use system in liquid
dosing, has been put into industrial production and resulted in sales. The
product is widely used in the fields of research and development and production
of vaccines and biopharmaceuticals. Currently, it is the only domestic
manufacturer of bioprocessing films in China that can replace those imported
and has broad market development prospects.
Upholding the innovation-driven strategy and
based on the cooperation with several universities and scientific research
institutes, the Group promoted scientific and technological innovation and
accelerated industrialization of scientific and technological achievements by
establishing a technology platform of innovative drug research and development
integrating production, education and research. Type 1 new drug NP-01, the
first innovative drug type of the Group, has completed sample preparation, and
its clinical trial research has fully commenced. The Group will continue to
push forward the preliminary research on anti-liver fibrosis Type 1 innovative
drug AND-9, anti-epileptic compound QO-83 and anti-tumor Type 2 chemical
innovative drug Miriplatin. During the first half of the year, a total of 7 production approvals were obtained for
various types of products. At present, the Group has submitted a total of 61
new product projects for approval, including 35 items for liquid and solid
preparations, 13 products for consistency evaluation and 13 items for bulk
pharmaceuticals, facilitating the changes of Group's production and sales
structure with the accumulated strength of innovation results. The research
results of products for passing the consistency evaluations was convincing. 15
types with 20 product specifications of the Group passed consistency evaluation
or were regarded as passing the consistency evaluation.
Looking forward in the second half year, as the global
epidemic is still evolving, the overall domestic and international economic
situation remains complicated and dynamic. Facing the pressure arising from
external factors that may persist and bring new challenges to the Group's production
and operation, the Group will continue to keep its composure, uphold its
development focus. The Group will also do its best in maintaining the momentum
in sustainable and stable development, promote development by innovation, and
improve efficiency by management. Through the combination of the national and
provincial Centralized Medicines Procurement, we will strive to do our best in
market access. The Group remains its leading position in the infusion market.
In respect of the intravenous infusion solutions segment, we will ensure a
significant growth of its sales volume as compared to last year and continue to
strengthen the proportion in sales of therapeutic and specialized infusion
products. At the same time, we will push forward the promotion and usage of
bioprocessing films in China, so as to strengthen the Group's position in the
industry and product influence in the field of medical materials. On the other
hand, with the goal of reducing costs and improving capacity utilization, we
will actively cultivate and expand the bulk pharmaceuticals business. Moreover,
the Group will adhere to the development idea of "combination of generic and
innovative drugs" and will strengthen development of new types of oral
preparations, bulk pharmaceuticals and medical materials. Meanwhile, the Group
will further develop the development and technology of bioprocessing films and
form core advantages of research and development of domestic bioprocessing film
production with comprehensive functions, sound system and leading technologies.
Mr. Qu Jiguang,
Chairman and CEO of SSY Group Limited said, "As one of the top 100 enterprises in
China pharmaceutical industry and the top 30 best industrial enterprises with
China pharmaceutical research and development product line, the Group will take
full advantage of the market, policy opportunities arising from the positive
changes in the domestic pharmaceutical market, we will firmly grasp the
initiative of development, maintain the resilience and vitality of innovation
and development, overcome difficulties and tackle barriers, assume our mission
with courage, and strive for facilitating the quality development of the Group.
By virtue of the scale advantages, quality advantages, management advantages
and brand advantages accumulated in the industry over the years that
continuously stimulate innovation momentum, we firmly believe that we are
possible to bring satisfactory returns to our investors with stronger
development achievement."
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