李氏大药厂2025年年报

2 0 2 5ANNUAL REPORT CONTENTS Corporate Information2Corporate Profile4Financial Highlights7Five-Year Financial Summary9Chairman’s Statement10Management Discussion and Analysis13Directors and Key Personnel Profiles26Report of the Directors34Corporate Governance Report57Independent Auditor’s Report70Consolidated Statement of Profit or Loss78Consolidated Statement of Profit or Loss andOther Comprehensive Income79Consolidated Statement of Financial Position80Consolidated Statement of Changes in Equity82Consolidated Statement of Cash Flows84Notes to the Consolidated Financial Statements86Definition234 Corporate Information BOARD OF DIRECTORS Executive Directors Ms. Lee Siu Fong(Chairman)Ms. Leelalertsuphakun Wanee(Managing Director) Non-executive Directors James Charles Gale Dr. Li XiaoyiMr. James Charles GaleMr. Huang Zuie-Chin Independent Non-executive Directors Dr. Chan Yau Ching, BobMs. Cheang Yee Wah, EvaDr. Tsim Wah Keung, Karl COMPANY SECRETARY Mr. Chow Yiu Ming AUDIT COMMITTEE Dr. Chan Yau Ching, Bob(Chairman)Ms. Cheang Yee Wah, EvaDr. Tsim Wah Keung, Karl REMUNERATION COMMITTEE Dr. Tsim Wah Keung, Karl(Chairman)Ms. Leelalertsuphakun WaneeDr. Chan Yau Ching, Bob NOMINATION COMMITTEE Ms. Lee Siu Fong(Chairman)Dr. Chan Yau Ching, BobDr. Tsim Wah Keung, Karl MANAGEMENT COMMITTEE Ms. Leelalertsuphakun Wanee(Chairman)Ms. Lee Siu Fong AUDITOR Confucius International CPA LimitedCertified Public Accountants LEGAL ADVISERS King & Wood Mallesons(Hong Kong law)Beijing Docvit Law Firm(PRC law) REGISTERED OFFICE PO Box 309Ugland House, Grand CaymanKY1–1104, Cayman Islands PO Box 309Ugland House, Grand CaymanKY1-1104, Cayman Islands PLACE OF BUSINESS IN HONG KONG 20E 1/F, Building 20E, Phase 3Hong Kong Science Park, ShatinHong Kong HONG KONG SHARE REGISTRAR ANDTRANSFER OFFICE 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th Floor, Hopewell Centre183 Queen’s Road East, WanchaiHong Kong AUTHORISED REPRESENTATIVES Ms. Lee Siu FongMs. Leelalertsuphakun Wanee www.leespharm.com WEBSITE www.leespharm.com STOCK CODE 950 950 Corporate Profile The Company is a research-driven and market-oriented biopharmaceuticalcompany with more than 30 years’ experience in the pharmaceuticalindustry in China. The Company is fully integrated with solid infrastructures in drugdevelopment, clinical development, regulatory, manufacturing, sales andmarketing based in Mainland China with global perspectives. The Companyhas established extensive partnerships with numerous internationalcompanies in the U.S., Europe, and Asia, and currently markets over 25proprietary, generic and licensed-in pharmaceutical products in MainlandChina, Hong Kong, Macau and Taiwan. The Group focuses on several key therapeutic areas such as cardiovascularhealth, woman’s health, paediatrics, rare diseases, oncology, dermatologyand obstetrics. It maintains a strong and carefully curated projectpipeline under different development stages stemming from both internalresearch and development as well as from the licensing of development,commercialisation, and manufacturing rights from various U.S., Europeanand Japanese companies. In addition, the Company has recently acquiredU.S.-based assets in line with its strategy to broaden its portfolio ofinnovative drug delivery technologies covering a wide range of indicationsand reinforcing the Company’s global expansion strategy. The Group carries out its sales and distribution activities in Hong Kong,Macau, Taiwan and Mainland China through Hong Kong and Taiwanoffices and branch offices in Guangzhou, Shanghai and Beijing withdirect and channel sales network covering most of the provinces andcities in Mainland China, marketing both domestic self-developed andgeneric products and overseas licensed-in products. Zhaoke Hefei iscurrently operating the manufacturing plant of the Group located in HefeiAnhui Province of the PRC, comprising four GMP-compliant workshopsfor the production of topical gel, lyophilised powder for injection, smallvolume parenteral solutions and eye gel. Zhaoke Guangzhou is currentlyoperating the manufacturing site in Nansha District, Guangzhou of the PRCwhich include a complete range of solid dosage production lines for thedevelopment and manufacturing of tablets and capsules. GMP The mission of the Group is to become a successful biopharmaceuticalgroup in Asia providing innovative products to fight diseases and improvehealth and quality of life. Corporate Profile Financial Highlights Financial Highlights PROFIT ATTRIBUTABLE TO THEOWNERS OF THE COMPANY(HK$’000) REVENUE (HK$’000) EQUITY ATTRIBUTABLE TO THEOWNERS OF THE COMPANY(HK$’000) BASIC EARNINGS PER SHARE(HK CENTS) Five-Year Financial Summary Chairman’s Statement Dear Shareholders, I am delighted to present the annual report for 2025 on behalf of theCompany and the Board. In 2025, China’s pharmaceutical industry sustained solid growth, driven byaccelerating innovatio