Investor Presentaiton
Operating Performance Analysis
(RMB million)
Expense Structure
2021
1H21
1H22
Gross Margin¹
48.1%
51.3% 45.8%
11.96% YoY
39.69% YoY
Selling and Distribution²
23.3%
24.8%
19.5%
1,754 1,963
1,890
1,353
Administrative
8.2%
8.6%
7.8%
1.38% YoY
434
440
Operating Results
52.25% YoY*
Affected by the
increased investment
I in technology
| development for
| online operation and
|
increased expense
for offline hospitals in |
the pandemic
(19) (387)
Total
I
Pharmaceutical
Med Tech
Healthcare Services
R&D
9.8%
9.2%
8.5%
■1H21 ■1H22
Finance
1.2%
1.7%
1.2%
Operating Results Margins
1H21
1H22
Total Results Margin
10.3%
9.2%
Gross Margin minus
24.8%
Selling and Distribution³
26.5%
26.2%
Pharmaceutical
11.0%
13.2%
6
Note: The decrease of Gross Margin in 1H22 was mainly due to:1) the unit price
increase of some core products due to the increase in labor costs and raw
materials under the pandemic; 2) the lower gross margins on not self-developed
Covid-19 products; 3) impact of volume based purchasing
Note²: The decrease of Selling and distribution rate was mainly due to:1)
continuously strengthen the control of sales expanse; 2) the decreased selling and
distribution rate of volume-based purchasing products
Note3: Gross Margin minus Selling and Distribution remained consistent
Note: segment result increased 52.25% YoY, excluding the impact from equity
transfer of Yaneng Bioscience,
Med Tech
15.3%
10.9%
Healthcare Services
-1.1%
-13.3%View entire presentation