you, of us and China and influenced support I industry morning, XXXX, like environment Thank for of joining and continued for market thank of the the your by in would continuously were policies each we good today everyone. Pharma. the Diana, to China. pharmaceutical “In you
various with In consistency particular, related activities, Group healthcare evaluation, Organization of total the expenditure. in and the the control the control the cost of policies connection Purchasing percentage expenditure the among hospital drug insurance,
detailed major our impair four the for and have rules evaluating investments made we After those and the position, recent cash policies decision flow XXXX. products of in our considering the return to pipeline remaining of potential advances all
of resume the favorable the other of attention people's healthcare. field focuses future to health. conditions of those on sufficient explore funding comprehensive continue in we development However, to the arise. and healthcare all if Comprehensive and affecting and misunderstandings life, daily formulas pays aging we and risk Nevertheless, factors may in disease kinds
PRC market pharmaceutical human of for We manufacture launched in healthcare the to COVID‐XX in the expertise sanitizer aim benefit products health. needs the and China. to the caused our the early commercialization address a wash‐free XXXX of We comprehensive for the in leverage by development, and
rest in Ms. prepared read English. of the Li’s I will remarks
compared year XX, XX.X% the December ended for XXXX, fiscal would results year sheet to ended as to by Revenue I information. XX, balance to like decreased million our December million $XX $XX.X Now review XXXX financial the and XXXX. for year
decreased GPO cost procurement were the hospital in expenditure drug the increased control revenue drugs promoted to participate tender standards policies. pass in years was evaluation few consistency due ago order healthcare of and This decrease a mainly XX% to the ratio the have expenditures the GPO ratio of from of which to insurance to approximately to to in drug the the sales patients’ XXXX, drug total by XX% the in
million, million was profit December XXXX XX, to compared ended $X year in for XXXX. the Gross $X.X
profit Our the decline remained in our gross mainly profit gross This margin same. due was in the XXXX was but margin decrease XX.X%, in our XX% sales, compared to fixed our in to costs XXXX.
Our selling $X.X Selling XX, XX.X% a $X.X expenses year XX, million, million XX.X% compared in compared XXXX. decrease year of for to accounted the XXXX, December of revenue ended XXXX ended for total December million, the $X.X in the to XXXX. were for expenses
XX, total for XXXX. and our were million respectively. expenses $X.X million, December and in XXXX $X.X XX.X% XXXX, for Our compared year XX% the general to and expenses revenues as accounted XXXX in and administrative of General ended administrative
to debt XX, December Our million, decrease was $X.XXX $X.XXX represented ended bad $X.XXX expenses compared of million million, XXXX. for XXXX the in which a year
bad December in to policies ended its customers our XX, the prior payment decrease XXXX, company’s expenses mainly of was products The December from the adjustment year to due shipping for XX, of debt request to the the compared the advanced customers the more and XXXX. credit to of
was laboratories loss $XX.XX recognized impairment ended XX, XXXX December the among compared loss XX, years in amount for We to and for the which, year ended impairment XXXX, $XX,XXX,XXX for the an in there million advances the December $X.XX XXXX, million and $X,XXX,XXX, of made respectively. XXXX to
the but evaluation products focusing The significant intangible impact pipeline, a expected have of the form Chinese consistency and our our we all mainly markets. only company, is also the not pharmaceutical the have throughout of to assets, a existing in been maintenance on in on formulas. medical As development generic
of regarding as made identified and in this the the respectively. policy recognized the flow XX, December impairment foreseeable formulas certain were flow After on of and detailed loss cash impairments them generate under investments of evaluating XXXX positive return unlikely to future cash assets, our our four intangible and recent accordingly rules the and and the and December XX, that assessments our considering position, therefore two XXXX, management
the determined but funding future all in favorable development impair formulas is and the to sufficient management if XX, these at XXXX, other advances resume The December conditions arise. may of
basic million the December diluted $XX.X and XX, share of was mainly $X.XX loss loss and diluted a ended ended of for impairment. XXXX. or December decrease XXXX in was year $XX.X XX, in net the basic result each or compared $X.XX increase net for loss each million share, The net loss to of Net year
XX, of Consider to XXXX. XX, million to balance to company cash of as XXXX from sheet, the as as working of compared the Turning and $X.X million of December of as million, XXXX. December $X.X had the deficit $X.X cash capital December equivalents XX, $X.X million XX, December XXXX increased using
As million, XX, $X.X of December million of our to as $X.X accounts was receivable December compared XX, XXXX, net XXXX.
million, from in million was XX, to $X.X XXXX, $X.X operating activities as flow compared For the year December ended XXXX. cash
of continue promote our shareholders' support and believe the our we that future. business Overall, will on focusing will fair developments valuation this the interest in our and sales
With open that, now up we call to the questions. will Operator?
