According to the Zhitong Finance App, China Biopharmaceutical (01177) announced results for the year ended December 31, 2023. The group achieved continuous operating revenue of 26.199 billion yuan (RMB, same below) during the period, an increase of 0.67%; profit attributable to shareholders of 2,332 billion yuan, a year-on-year decrease of 8.32%; basic profit per share of 12.59 points; and plans to distribute a final dividend of HK3 cents per share.
According to the announcement, the Group has always attached great importance to R&D, continuously improving the level and speed of R&D by combining R&D concepts of independent innovation, joint development and imitation development, and regards it as the foundation for sustainable development and increasing capital investment in R&D. For the year ended December 31, 2023, the total R&D expenditure was about 470.4.27 million yuan, accounting for about 18.0% of the Group's revenue. Most of this was included in the profit and loss statement. In the reporting period, R&D investment for innovative drugs and biopharmaceuticals accounted for more than 77%, with a year-on-year increase of about 10%; the anti-tumor field accounted for about 71% of R&D investment, and the investment amount increased by more than 1% year on year.
By the end of the reporting period, the Group had a total of 43 innovative drug candidates in the field of oncology development, including 5 products in the marketing application stage, 4 products in clinical phase III, 13 products in clinical phase II, and 21 products in clinical phase I. In addition, the Group also has 17 biosimilar or generic drug candidates in the field of oncology that are in the clinical or higher development stage, including 7 products in the marketing application stage, 2 products in key clinical trials, and 8 products in bioequivalence (BE) tests. The Group expects 7 innovative drugs and 9 biosimilar or generic drugs to be approved for marketing in the oncology sector in the next three years (2024-2026).
The Group continues to focus on the development of new products in the four major treatment areas of antitumor, liver disease, respiratory, and surgery/analgesia. By the end of the reporting period, the Group had 145 products under development, including 60 anti-tumor drugs, 9 liver disease drugs, 31 respiratory drugs, and 15 surgery/analgesic drugs, involving a total of 67 Class I innovative products.
The Group also attaches great importance to protecting intellectual property rights and encourages member companies to actively apply for various patents to enhance their core competitiveness. During the reporting period, the Group submitted 841 patent applications and obtained 264 patent invention authorizations. By the end of the reporting period, the Group had accumulated 4,311 valid patents and patent applications, and obtained a total of 1,595 patent invention authorizations.