Diana, your sales today of I’d We of to support you like China morning, for of experienced us but our and for implementation of fluctuations and you, joining continued certain through Thank Pharma. thank XXXX, good XXXX sales in same the continued everyone. promotions, market period new of a ago. to revenue in markets. active promote vigorously through China allow tender provincial solicit to and openings recent presence comparable the continue expand its in will offers Management sales year to Pharma market these was to participation each drug
requirements, and the rate remarks process demand, products all advanced investment key read actively of prepared time applicable continued now clinical and the addition, standards, challenging requirements the from experiencing In trials the registration consistency stringent drug in and difficulty, the the compliance in of evaluated investment for actively I Company the will technical marketed return XXXX. In rising we evaluations, Li’s environment, and English. in of pipeline Ms. rest more costs XXXX. pressure products, sustained several this of
negative Gross insurance was bad the sheet XX, efforts controls to ended profit year million policies compared in total Now, XXXX, XX, our ended a cost health decreased compared would with to controlling drug and results $X.X review the as targeted payment at debt the Company's spending, rigorous for decrease was of X.X% associated costs $XX.X I healthcare XXXX. policies as government by in This screening year due to customers to $XX.X as on mainly year December $X for more more impact balance December XX, information. by like in million financial the with well XXXX and ended million XXXX conjunction fiscal as to for stringent reducing proportion December terms. million, XXXX. the Revenue year
profit gross XX.X% gross our profit in This in to fixed XXXX. margin to our compared was sales, in manufacturing decline was XXXX the overhead. in Our and decrease XX% our margin mainly due
for million year XXXX XXXX. compared XX, December revenue a expenses XX.X% million, XX, ended were December XXXX of $X.X XX.X% selling ended Our to for of decrease compared XXXX. year for $X.X accounted the expenses in the to Selling million $X.X in total
XXXX. $X.X and expenses accounted XX.X% administrative expenses XXXX XX, which respectively. year $X of were Our million and the in administrative close total our million, XX.X% ended for XXXX, December and in general General to was revenues XXXX for and
assets represented XX, was ended receivables mainly XXXX was debt for December XXXX accounts aging which the XX, XX, the ended with compared the to December of change more line XXXX. which bad for ended in due the bad $XX.X the The expenses XX, decrease XXXX. $X.X to December year intangible $X.X Company's our expenses million, was the of compared decrease year of to million of $X.X to Impairment composition $X.X million Our in scrutiny XXXX a in debt December came for upon customers' year history. XXXX, in million, payment in compared million stringent
$X.XX Net on was therefore negative $X.XX December XXXX million, XX, in or cash compared identified to the of our recognized XXXX positive we and loss unable regarding basic them focusing As foreseeable diluted each ended in such respectively, as the to our share, basic December in recently and future generate negative of intangible evaluations, $XX.X long-term result ended $XX.X The flow XXXX, and in likely XX, of year was be and year the implemented accordingly. loss loss diluted management mainly share, loss on for formulas company, the have net mainly impairment XX, and net of as would decrease million, each development assets, XXXX of that and the XX, in the form decrease two December medical or for respectively, XXXX a and impairment intangible XXXX. of assets. December six a our of formulas. consistency impairment government been maintenance and pharmaceutical of certain made assets Because assessments formulas policies
Turning to balance sheet.
$X.X As as negative had XX, the December XXXX. Working of million compared XXXX, equivalents $X from December of of $X.X as to cash million XXXX. to of $X.X December and decreased capital XXXX XX, of million XX, December million XX, Company as cash
net XX, XX, accounts was December million XXXX, compared of December As million, $X.X our XXXX. of receivable to $X.X as
was Overall, now shareholders’ up of For interest we development the open and our December will flow promote million XXXX. believe on XX, in ended will year and the $X.X focusing call this the Operator? future. XXXX, for activities from questions. operating business cash ourselves our fair compared in million, continue will to evaluation that as that, we the support With $X.X
