CIRC: The innovation and development of technology-led enterprises achieved the best business performance in history
- Written by: Daily Bulletin
- Published in News from Asia
HONG KONG SAR - Media OutReach - 12 April 2023 - CHINA ISOTOPE & RADIATION CORPORATION ("CIRC") (01763.HK) held its 2022 Annual Results Investor and Analysts Presentation in Hong Kong on 11 April, attracting a number of well-known investment institutions.
CIRC attaches great importance to this opportunity to on-site communicate with investors and analysts. Mr. Wang Suohui, Chairman and Secretary of the Party Committee; Mr. Xu Hongchao, Executive Director, Chief Executive Officer and Deputy Party secretary; Mr. Du Jin, Executive Director and Chief Engineer; and Mr. Gui Youquan, Chief Financial Officer, Chief Compliance Officer and Joint Company Secretary, attended this presentation. Shareholder representative Mr. Hu Song and Independent Director Mr. Poon Chiu kwok were also invited to attend the conference. 
According to the 2022 Annual Results announcement of CIRC, during the reporting period, CIRC took multiple measures to coordinate production and operation, and achieved annual operating revenue of RMB 6.146 billion, with a YoY growth of 19.5%; Net profit attributable to the owner of the parent company was RMB 392 million, with a YoY increase of 16.6%. Major economic indicators such as revenue, total profit, net profit and economic value added etc. all achieved rapid growth, and the operating performance reached the best in history.
At the presentation, Mr. Gui Youquan, Chief Financial Officer, Chief Compliance Officer and Joint Company Secretary of CIRC, said that in 2022, the company optimized the business model. On the basis of the steady growth of the overall performance, the outstanding performance of all business segments has increased. Therapeutic radiopharmaceuticals are still the largest business segment of the company. In 2022, it contributed 64% of the revenue. The company will continue to promote the development of the existing industry and steadily increase its influence in the field of nuclear medicine.
"Research and development capability is an indispensable lifeblood for the development of a company," said Mr. Du Jin, Executive Director and Chief Engineer of CIRC. In 2022, the company invested RMB 300 million in research and development expenses, a YoY increase of 53%, accounting for 4.9% of revenue. This increase in research and development investment has helped to promote the high-quality development of the company. During the year, the company made multiple layouts in the field of science and technology research and development and achieved breakthrough progress in several in-progress projects for radiopharmaceuticals. The sodium fluoride [18F] injection project completed all clinical trial research, officially submitted a registration application and was accepted, and 6 drugs have been submitted for IND acceptance. In terms of the construction of scientific research platforms, the first International Atomic Energy Agency (IAEA) Collaboration Center on Production and application of medical radioisotopes, radiopharmaceuticals, industrial radiotracers and sealed sources in Asia has been established in CIRC, and multiple national-level scientific research and development platforms have been approved. These new breakthroughs in the construction of scientific research platforms have provided a guarantee for enriching the company's product development pipeline and promoting further development of scientific research projects.
Currently, China's medical equipment industry has entered a new stage of systematic development. Mr. Xu Hongchao, Executive Director, General Manager, and Deputy Secretary of the Party Committee of CIRC, stated that in implementing the "14th Five-Year Plan" for the development of the medical equipment industry, the company will focus on two major industrial directions: Nuclear Healthcare and radiation applications, actively implementing the "nuclear industry power" and "healthy China" strategies. As China's nuclear medicine industry gradually enters a phase of high-speed development, the company has already established multiple radiopharmaceutical pipelines in the fields of tumors, neurodegenerative diseases, and cardiovascular diseases, and will continue to promote the independent research and development of nuclear medical equipment. The domestically developed intelligent Cobalt-60 cone beam focused stereotactic radiotherapy system is undergoing clinical trials, and the company is continuously narrowing the gap between China's high-end radiotherapy technology and the world's leading level, promoting the early realization of localization of high-end radiotherapy products through practical actions.
Finally, Mr. Wang Suohui, Chairman and Secretary of the Party Committee of CIRC, said that 2023 is the opening year of the comprehensive implementation of the spirit of the 20th National Congress of the CPC, the key year of the implementation of the "14th Five-Year Plan", and also the 40th anniversary of the establishment of CIRC and the 5th anniversary of its listing. CIRC, as the main force of China National Nuclear Corporation to advance towards people's life and health technology and the main channel for the transformation of advanced nuclear scientific and technological achievements, shoulders the dual responsibilities of building a "powerful country in the nuclear industry" and a "healthy China". We will keep our mission in mind, deeply plant the concept of "lean, standard, reform and high efficiency", vigorously practice the speed of "immediate action and rapid completion". We will continue to promote the implementation of the "14th Five-Year Plan" task, and contribute to the development of a bigger, stronger and better nuclear technology industry. CIRC will continue to create greater value for customers and shareholders in the future.
Hashtag: #CIRC
The issuer is solely responsible for the content of this announcement.
CHINA ISOTOPE & RADIATION CORPORATION (CIRC) (01763.HK)
China Isotope & Radiation Corporation (CIRC) has been exploring and developing isotope and radiation technology since its establishment in 1983, and has been deeply involved in the nuclear technology application industry for nearly 40 years. In 2018, the company successfully listed on the main board of the Hong Kong Stock Exchange and has become a leading enterprise in the field of isotope and radiation technology application in China. The company's business basically covers the entire industry of nuclear technology applications. The strict admission requirements and complex technical barriers in this field provide CIRC with huge market expansion space on top of its existing business foundation. As an important member unit of China National Nuclear Corporation (CNNC) in the field of isotope and radiation technology, CIRC can leverage CNNC's existing resources such as nuclear reactors, cyclotrons, and professional personnel to achieve localization of isotope raw material production and radiation product research and development.
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