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SVBI — Interim / Quarterly Report 2021
Oct 1, 2021
51921_rns_2021-10-01_8ca90c7f-4957-43b6-8b01-7e76e8777d67.pdf
Interim / Quarterly Report
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Investor Conference 2021
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科妍生物科技股份有限公司 SciVision Biotech Inc.
Dr. Chun Chang Chen Project Manager | R&D Dept.
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This slide contains our business prospect, financial condition and sales which are derived from our prognosis existing internal/external data analysis. The actual result of operations may differ from the expressed or implied in these forward-looking statements due to various reasons, including but not limited to price fluctuation, competition, global economic condition, exchange rate fluctuation, market demand or other risks that beyond our control. The forward-looking statements in this release reflect the current belief of SciVision at this point and SciVision undertakes no obligation to update these statements with new information or future events.
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1. Company & Product &Technology Overview
2. Business Operation
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◼ Established in 2001
- Listed on TSE in 2013 (Code: 1786)
◼ Professional high-class, pharmaceutical-grade Hyaluronic Acid medical device production
◼ Two factories are located at No. 1, S. 1st Rd., and No. 9, S. 6th Rd., Qianzhen Dist., Kaohsiung City, Taiwan
- Follow to GMP, ISO 13485, US FDA and PIC/s GMP standards
◼ Produces at least 12 million syringes of medical device annually
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(Crosslinked Hyaluronic Acid Platform, CHAP ® )
Cross-linking Knowledge Inspection method ® The application of CHAP CHAP technology can be made into products of various types and applications Absorbable Single-injection Dermal Other new application adhesion barrier viscosupplement filler category products
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International Partnership
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Global market Applied field Items CAGR value in 2020 Facial Aesthetics Dermal Filler 1.8 billion 9.0 %
Synovial Fluid Geriatrics Care 2.3 billion 6.1 % Supplement Absorbable Surgery 3.3 billion 8.9 % Adhesion Barrier
Source:
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Facial Aesthetics (Botulinum Toxin, Dermal Fillers), GlobalData
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Hyaluronic Acid Viscosupplementation | Medtech 360 | Market Analysis | Global | 2019 , DRG 3. ANTI-ADHESION PRODUCTS 2012, Global Industry Analysts, Inc.
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Monophasic Fillers Biphasic Fillers (Smooth gel type) (Particle type)
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Product advantages ✓ High safety performance ✓ Strong structural support ✓ Shift resistance
Product advantages ✓ High safety performance ✓ Smooth and natural ✓ Easy operation
✓ Excellent viscoelasticity ✓ Sufficient active ingredients ✓ Good resistance to degradation
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A Guide to Cheek Augmentation: Single-Point Deep Injection of Hyaluronic Acid Filler at Midface in Close Proximity to Medial Suborbicularis Oculi Fat (SOOF) Area. Journal of Cosmetics, Dermatological Sciences and Applications. 2016 Jan 06(01):1-8.
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Use of High-Resolution Ultrasound (HRU) in the Assessment of Deep Injections of CHAP-Hyaluronic Acid (CHAP-HA) Fillers for Midface Lift. Journal of Cosmetics, Dermatological Sciences and Applications. 2018 Jan 08(03):126-132.
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Dual-Plane Injection Technique With Microscale Tumescent Solution for Asian Rhinoplasty. Dermatol Surg. 2021 Jul 1;47(7):1015-1016.
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CHAP–hyaluronic acid (CHAP-HA) filler as an optimal candidate for forehead filler augmentation using a 3-point injection technique. Journal of Cosmetics, Dermatological Sciences and Applications. 2021 Jan 11(02):76-83.
Product injected around the eye was safe and effective, with high usage satisfaction
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Product has good Develop injection Guidelines for tissue compatibility guidelines for high-risk forehead areas augmentation
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Global market Applied field Items CAGR value in 2020 Facial Aesthetics Dermal Filler 1.8 billion 9.0 % Synovial Fluid Geriatrics Care 2.3 billion 6.1 % Supplement Absorbable Surgery 3.3 billion 8.9 % Adhesion Barrier
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| Product category |
Treatment description | Global CAGR of treatments |
Products | Products |
|---|---|---|---|---|
| 1-injection | Effect could be lasted for | |||
| regimen | more than half a year with | 10.2% | ||
| (Long-acting) | administrating 1 syringe. | 1 syringe per year | Anti-free Radical | |
| Super Long-Acting Type | Protection Type | |||
| Effect could be lasted for | ||||
| 3-injection regimen |
half a year with administrating 3 syringes continuously , 1 syringe |
5.9% | ||
| per week. | Best-selling products in Taiwan | |||
| Effect could be lasted for | ||||
| 5-injection regimen |
half a year with administrating 5 syringes continuously , 1 syringe |
5.5% | ||
| per week. |
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Source: Hyaluronic Acid Viscosupplementation | Medtech 360 | Market Analysis | Global | 2019 , DRG
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The effect of three weekly intra-articular injections of hyaluronate on pain, function, and balance in patients with unilateral ankle arthritis. J Bone Joint Surg Am. 2011 Sep 21;93(18):1720-6.
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Changes of synovial fluid protein concentrations in supra-patellar bursitis patients after the injection of different molecular weights of hyaluronic acid. Exp Gerontol. 2014 Apr;52:30-5.
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Comparison of Single Intra-Articular Injection of Novel Hyaluronan (HYA-JOINT Plus) with Synvisc-One for Knee Osteoarthritis: A Randomized, Controlled, Double-Blind Trial of Efficacy and Safety. J Bone Joint Surg Am. 2017 Mar 15;99(6):462-471.
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Origin and Efficacy of Hyaluronan Injections in Knee Osteoarthritis: Randomized, Double-Blind Trial. Med Sci Monit. 2018 Jul 9;24:4728-4737.
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Improvement of self-reported functional scores and thickening of quadriceps and femoral intercondylar cartilage under ultrasonography after single intra-articular injection of a novel cross-linked hyaluronic acid in the treatment of knee osteoarthritis. J Back Musculoskelet Rehabil. 2018;31(4):709-718.
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Safety and efficacy of single CHAP Hyaluronan injection versus three injections of linear Hyaluronan in pain relief for knee osteoarthritis: a prospective, 52-week follow-up, randomized, evaluator-blinded study. BMC Musculoskelet Disord. 2021 Jun 23;22(1):572.
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Comparing efficacy of intraarticular single crosslinked Hyaluronan (HYAJOINT Plus) and platelet-rich plasma (PRP) versus PRP alone for treating knee osteoarthritis. Sci Rep. 2021 Jan 8;11(1):140.
The pain relief effect is better than Sanofi's one-injection produc.t
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The effect can be maintained for more The thickness of the quadriceps and than one year, with high satisfaction. cartilage improved significantly at 3 and 6 months after surgery.
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| Applied field Items Global market value in 2020 CAGR Facial Aesthetics Dermal Filler 1.8 billion 9.0 % Geriatrics Care Synovial Fluid Supplement 2.3 billion 6.1 % Surgery Absorbable Adhesion Barrier 3.3 billion 8.9 % Listed Core Products |
|
|---|---|
For gynecological For ligament, peripheral pelvic surgery nerve, joint surgery
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Product advantages ✓ High Biocompatibility ✓ Easy to apply ✓ Shift resistance
Product advantages ✓ High Biocompatibility ✓ Easy to apply ✓ Shift resistance ✓ Long effective protection time
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A resorbable hyaluronic acid hydrogel to prevent adhesion in porcine model under laparotomy pelvic surgery. J Appl Biomater Funct Mater. Jan-Dec 2021;19.
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Crosslinked Hyaluronic Acid Gels for the Prevention of Intrauterine Adhesions after a Hysteroscopic Myomectomy in Women with Submucosal Myomas: A Prospective, Randomized, Controlled Trial. Life. 2020 May 15;10(5):67.
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Efficacy of Applying Hyaluronic Acid Gels in the Primary Prevention of Intrauterine Adhesion after Hysteroscopic Myomectomy: A Meta-Analysis of Randomized Controlled Trials. Life. 2020 Nov 15;10(11):285.
Product could effectively avoid or slow down the occurrence of postoperative adhesions.
Product could effectively avoid or slow down the occurrence of postoperative adhesions and was significantly better than competing products.
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1. Company & Product &Technology Overview
2. Business Operation
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Profit & Loss-ConsolidatedUnit:NT thousand dollars(except for EPS)Revenue238,033100%213,994100%Cost of Goods Sold(72,918) -31%(61,433) -29%Gross Profit165,11569%152,56171%Operating Expense(100,765) -42%(88,098) -41%Operating Income64,35027%64,46330%Non-operating Income,Net(5,177)-2%3,8722%Income before Tax59,17325%68,33532%Net Income56,26924%58,70427%EPS(NT$)0.920.96H1,'21(Reviewed)H1,'20(Reviewed) |
Profit & Loss-ConsolidatedUnit:NT thousand dollars(except for EPS)Revenue238,033100%213,994100%Cost of Goods Sold(72,918) -31%(61,433) -29%Gross Profit165,11569%152,56171%Operating Expense(100,765) -42%(88,098) -41%Operating Income64,35027%64,46330%Non-operating Income,Net(5,177)-2%3,8722%Income before Tax59,17325%68,33532%Net Income56,26924%58,70427%EPS(NT$)0.920.96H1,'21(Reviewed)H1,'20(Reviewed) |
Profit & Loss-ConsolidatedUnit:NT thousand dollars(except for EPS)Revenue238,033100%213,994100%Cost of Goods Sold(72,918) -31%(61,433) -29%Gross Profit165,11569%152,56171%Operating Expense(100,765) -42%(88,098) -41%Operating Income64,35027%64,46330%Non-operating Income,Net(5,177)-2%3,8722%Income before Tax59,17325%68,33532%Net Income56,26924%58,70427%EPS(NT$)0.920.96H1,'21(Reviewed)H1,'20(Reviewed) |
Profit & Loss-ConsolidatedUnit:NT thousand dollars(except for EPS)Revenue238,033100%213,994100%Cost of Goods Sold(72,918) -31%(61,433) -29%Gross Profit165,11569%152,56171%Operating Expense(100,765) -42%(88,098) -41%Operating Income64,35027%64,46330%Non-operating Income,Net(5,177)-2%3,8722%Income before Tax59,17325%68,33532%Net Income56,26924%58,70427%EPS(NT$)0.920.96H1,'21(Reviewed)H1,'20(Reviewed) |
11.2%18.7%8.2%14.4%-0.2%-233.7%-13.4%-4.1%Annualgrowth rate |
|---|---|---|---|---|
H1,'21(Reviewed) |
H1,'20(Reviewed) |
|||
238,033100%(72,918) -31%165,11569%(100,765) -42%64,35027%(5,177)-2%59,17325%56,26924% |
213,994100%(61,433) -29%152,56171%(88,098) -41%64,46330%3,8722%68,33532%58,70427% |
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0.92 |
0.96 |
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2021 Jan.~Jun. & 2020 Jan.~Jun.
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2021 Jan.~Jun. & 2020 Jan.~Jun.
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Balance Sheet-ConsolidatedUnit:NT thousand dollarsCash and Cash Equivalents616,05527%293,15915%Accounts Receivable67,4963%55,3713%Inventories52,7972%31,1062%Current Financial Assets at Fair Valuethrough Profit or Loss-0%53,5003%Amortized Cost Financial Assets99,9274%133,9987%Property,Plant & Equipment1,283,34056%1,257,55965%Other Current/Non-Current Assets160,9447%98,5465%Total Assets2,280,559100%1,923,239100%Current Liabilities421,93318%226,32811%Long-Term & Other Liabilities398,19417%356,76619%Total Liabilities820,12736%583,09430%Total Shareholders' Equities1,460,43264%1,340,14570%Key IndicesA/R Turnover (Days)51.9049.69Inventory Turnover (Days)123.5195.14Current Ratio(x)205.56%262.75%Net Profit Margin(%)23.64%27.43%2021/6/30(Reviewed)2020/6/30(Reviewed) |
Balance Sheet-ConsolidatedUnit:NT thousand dollarsCash and Cash Equivalents616,05527%293,15915%Accounts Receivable67,4963%55,3713%Inventories52,7972%31,1062%Current Financial Assets at Fair Valuethrough Profit or Loss-0%53,5003%Amortized Cost Financial Assets99,9274%133,9987%Property,Plant & Equipment1,283,34056%1,257,55965%Other Current/Non-Current Assets160,9447%98,5465%Total Assets2,280,559100%1,923,239100%Current Liabilities421,93318%226,32811%Long-Term & Other Liabilities398,19417%356,76619%Total Liabilities820,12736%583,09430%Total Shareholders' Equities1,460,43264%1,340,14570%Key IndicesA/R Turnover (Days)51.9049.69Inventory Turnover (Days)123.5195.14Current Ratio(x)205.56%262.75%Net Profit Margin(%)23.64%27.43%2021/6/30(Reviewed)2020/6/30(Reviewed) |
Balance Sheet-ConsolidatedUnit:NT thousand dollarsCash and Cash Equivalents616,05527%293,15915%Accounts Receivable67,4963%55,3713%Inventories52,7972%31,1062%Current Financial Assets at Fair Valuethrough Profit or Loss-0%53,5003%Amortized Cost Financial Assets99,9274%133,9987%Property,Plant & Equipment1,283,34056%1,257,55965%Other Current/Non-Current Assets160,9447%98,5465%Total Assets2,280,559100%1,923,239100%Current Liabilities421,93318%226,32811%Long-Term & Other Liabilities398,19417%356,76619%Total Liabilities820,12736%583,09430%Total Shareholders' Equities1,460,43264%1,340,14570%Key IndicesA/R Turnover (Days)51.9049.69Inventory Turnover (Days)123.5195.14Current Ratio(x)205.56%262.75%Net Profit Margin(%)23.64%27.43%2021/6/30(Reviewed)2020/6/30(Reviewed) |
|
|---|---|---|---|
Unit:NT thousand dollars |
2021/6/30(Reviewed) |
2020/6/30(Reviewed) |
|
Cash and Cash EquivalentsAccounts ReceivableInventoriesCurrent Financial Assets at Fair Valuethrough Profit or LossAmortized Cost Financial AssetsProperty,Plant & EquipmentOther Current/Non-Current AssetsTotal AssetsCurrent Liabilities |
616,05527%67,4963%52,7972%-0%99,9274%1,283,34056%160,9447% |
293,15915%55,3713%31,1062%53,5003%133,9987%1,257,55965%98,5465%1,923,239100%226,32811% |
|
2,280,559100% |
|||
421,93318% |
|||
Long-Term & Other LiabilitiesTotal LiabilitiesTotal Shareholders' EquitiesKey IndicesA/R Turnover (Days)Inventory Turnover (Days)Current Ratio(x)Net Profit Margin(%) |
398,19417% |
356,76619% |
|
820,12736% |
583,09430% |
||
1,460,43264% |
1,340,14570% |
||
51.90123.51205.56%23.64% |
49.6995.14262.75%27.43% |
||
Cash Flows-ConsolidatedUnit:NT thousand dollarsFrom Operating ActivitiesProfit before taxDepreciation & AmortisationNet change in working capitalFrom Investing Activitiesamortised costthrough Profit or LossCapital expenditureNet change in Investing itemFrom Financing ActivitiesShort-term loansLong-term loansNet change in Fincncing itemNet Change in CashBeginning BalanceEnding BalanceFree Cash Flow(8,704)(7,519)(150,905)(104,971)067,68959,17368,33519,7306,87354,93549,909616,055293,159(84,175)(38,391)(15,264)(17,780)0(603)(606)218,691(37,888)397,364331,047299,397(606)00300,000(51,466)(50,000)1,200H1,'21(Reviewed)H1,'20(Reviewed)70,199 |
Cash Flows-ConsolidatedUnit:NT thousand dollarsFrom Operating ActivitiesProfit before taxDepreciation & AmortisationNet change in working capitalFrom Investing Activitiesamortised costthrough Profit or LossCapital expenditureNet change in Investing itemFrom Financing ActivitiesShort-term loansLong-term loansNet change in Fincncing itemNet Change in CashBeginning BalanceEnding BalanceFree Cash Flow(8,704)(7,519)(150,905)(104,971)067,68959,17368,33519,7306,87354,93549,909616,055293,159(84,175)(38,391)(15,264)(17,780)0(603)(606)218,691(37,888)397,364331,047299,397(606)00300,000(51,466)(50,000)1,200H1,'21(Reviewed)H1,'20(Reviewed)70,199 |
Cash Flows-ConsolidatedUnit:NT thousand dollarsFrom Operating ActivitiesProfit before taxDepreciation & AmortisationNet change in working capitalFrom Investing Activitiesamortised costthrough Profit or LossCapital expenditureNet change in Investing itemFrom Financing ActivitiesShort-term loansLong-term loansNet change in Fincncing itemNet Change in CashBeginning BalanceEnding BalanceFree Cash Flow(8,704)(7,519)(150,905)(104,971)067,68959,17368,33519,7306,87354,93549,909616,055293,159(84,175)(38,391)(15,264)(17,780)0(603)(606)218,691(37,888)397,364331,047299,397(606)00300,000(51,466)(50,000)1,200H1,'21(Reviewed)H1,'20(Reviewed)70,199 |
|
|---|---|---|---|
Unit:NT thousand dollars |
H1,'21(Reviewed) |
H1,'20(Reviewed) |
|
From Operating Activities |
70,199 |
67,689 |
|
Profit before taxDepreciation & AmortisationNet change in working capital |
(8,704)59,17319,730 |
(7,519)68,3356,873 |
|
From Investing Activities |
(150,905) |
(104,971) |
|
amortised costthrough Profit or LossCapital expenditureNet change in Investing item |
(84,175)(15,264)0(51,466) |
(38,391)(17,780)(50,000)1,200 |
|
From Financing Activities |
299,397 |
(606) |
|
Short-term loansLong-term loansNet change in Fincncing item |
(603)0300,000 |
0(606)0 |
|
Net Change in Cash |
218,691 |
(37,888) |
|
Beginning Balance |
397,364 |
331,047 |
|
Ending Balance |
616,055 |
293,159 |
|
Free Cash Flow |
54,935 |
49,909 |
|
Million dollars
Million dollars
Revenue
Net Profit
Gross and Operating Margin
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Cash Generated From Operations Before Interest And Taxes
Million dollars
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Science Creates Better Visions
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