Financial Performance

During the year under review, the financial results of the Group, have been negatively impacted and ongoing clinical trial programmes have been delayed due to disruptions resulted from sporadic emergence and persistent spread of COVID-19 and the ensuing lockdowns instituted under the "zero-COVID policy" in the PRC. As of the date of the results announcement, the clinical operations of hospitals and outpatient clinics progressively resumed to normalcy.

For the year ended 31 December 2022, the Group achieved a consolidated revenue of approximately HK$1,318 million, with a net profit of approximately HK$225 million. The net profit was weighed down by an impairment loss of approximately HK$ 25.8 million on goodwill arising from the acquisition of YesDok Pte Ltd and its wholly-owned subsidiary in Indonesia.

As of 31 December 2022, the Group had cash and cash equivalents of approximately HK$544 million (2021: approximately HK$671 million). The Board is pleased to propose a final dividend of HK$0.025 (2021: HK$0.055) per ordinary share to be approved at the upcoming annual general meeting of the Group. Together with the interim dividend of HK$ 0.04 per ordinary share paid on 21 September 2022, the total dividend for 2022 would be HK$ 0.065 (2021: HK$ 0.095) per ordinary share.

Revenue of Ophthalmology and Surgical Segments

The Group's revenue is primarily made up of the segments of Ophthalmology and Surgical (wound healing). The revenue of Ophthalmology is approximately HK$554 million, accounted for approximately 42.0% of the Group's revenue, while the revenue of Surgical is approximately HK$764 million, representing approximately 58.0% of the Group's revenue. The core products that are as current growth driver under each segment are:

1. Ophthalmology - Beifushu series (Beifushu eye drops, Beifushu eye gel and Beifushu unit-dose eye drops), Tobramycin Eye Drops, Levofloxacin Eye Drops, Sodium Hyaluronate Eye Drops and Shilishun (Iodized Lecithin Capsules); and

2. Surgical (Wound care and healing) - Beifuji series (Beifuji spray, Beifuji lyophilised powder and Beifuxin gel), Carisolv dental caries removal gel, Dr. YaDian mouth wash and Yi Xue An Granules.

Significant Business Development Activities

The Group is committed to pragmatically investing in new products and technologies to strengthen the Group's product and research and development ("R&D") pipeline as near to mid-term growth driver in ophthalmology and long-term plan for new therapeutics in oncology. During the period under review, significant milestones achieved under business development activities are outlined as follows:

Through acquisition, Shilishun became the company's new added core product

On 8 March 2022, the acquisition of intellectual property rights relating to technologies and process of product R&D, production and right of Marketing Authorisation Holder of Shilishun (Iodized Lecithin Capsules) was completed and Shilishun (Iodized Lecithin Capsules) is being regarded as one of the Group's core products since then.

Secured Exclusive Global Rights and Interests of SkQ1 in the field Ophthalmology from Mitotech

Click here to continue