According to the Zhitong Finance App, Tianda Pharmaceutical (00455) announced its annual results for the year ended December 31, 2023. The group obtained revenue of HK$532 million, an increase of 29.77% year on year; loss due to shareholders of the parent company was HK$24.155 million, a decrease of 41.05% year on year; loss per share was 1.12 HK cents, and a final dividend of HK 0.26 cents per share was planned.
In the pharmaceutical and medical technology business, revenue for the year was HK$470.7 million (previous financial period: HK$345 million), benefiting from strong sales growth of the pediatric drug tonibuprofen and maintaining ideal sales performance for other major products. In the Chinese medicine business, due to the adoption of stricter credit policies, revenue for the year declined to HK$48.4 million (previous financial period: HK$54.1 million). In terms of medical and health services, revenue for the year was HK$13 million (previous financial period: HK$11.2 million). Gross profit was HK$255.5 million (previous financial period: HK$188.6 million). Gross margin increased from 46.0% in the previous financial period to 48.0% this year. The main reason was the improvement in the Group's revenue quality and an increase in the share of sales of high-margin products. At the same time, the Group strictly controlled costs, and the sales and distribution expense ratio was reduced by about 1.7 percentage points. The sales and distribution expenses for the year were HK$186.5 million (previous financial period: HK$150.6 million).