董事會會議召開日期 杭州泰格醫藥科技股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣 佈，董事會會議將於二零二三年八月二十五日（星期五）舉行，藉以（其中包括）審 議及批准本公司及其附屬公司截至二零二三年六月三十日止六個月的未經審核中 期業績及其刊發，以及考慮宣派及派付中期股息（如適用）。 承董事會命 杭州泰格醫藥科技股份有限公司 葉小平 董事長 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭州泰格醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3347) 香港，二零二三年八月十五日 於本公告日期，執行董事為葉小平博士、曹曉春女士、吳灝先生及聞增玉先生； 獨立非執行董事為楊波博士、廖啟宇先生及袁華剛先生。 ...

Financial Performance - In 2022, the company's revenue increased by 35.9% year-on-year, reaching RMB 7,085.5 million, up from RMB 5,213.5 million in 2021[5]. - Gross profit for 2022 was RMB 2,785.4 million, up 23.9% from RMB 2,248.1 million in 2021[12]. - Net profit attributable to the company's owners decreased by 30.0% to RMB 2,016.1 million from RMB 2,879.1 million in 2021[12]. - Revenue for the year ended December 31, 2022, was RMB 7,085.5 million, representing a 35.9% increase from RMB 5,213.5 million in 2021[12]. - The company secured new orders amounting to RMB 9,673.4 million in 2022, slightly up from RMB 9,645.5 million in the previous year[18]. - The future contracted revenue as of December 31, 2022, was RMB 13,785.9 million, reflecting a year-on-year increase of 20.9%[19]. - The adjusted net profit attributable to the company's owners decreased by 30.0% year-on-year to RMB 2,016.1 million, compared to RMB 2,879.1 million in the same period last year[64]. - The net profit for the year decreased by 32.8% year-on-year to RMB 2,281.3 million, down from RMB 3,396.6 million in the same period last year[64]. Revenue Breakdown - Revenue from clinical trial technical services amounted to RMB 4,125.2 million, while revenue from clinical trial-related services and laboratory services reached RMB 2,960.3 million, reflecting year-on-year growth of 37.8% and 33.4% respectively[5]. - Revenue generated in China grew by 30.7% year-on-year to RMB 3,601.6 million, while overseas revenue increased by 41.8% to RMB 3,483.9 million[5]. - Revenue from clinical trial-related services and laboratory services increased by 33.4% year-on-year to RMB 2,960.3 million, up from RMB 2,219.9 million in the same period last year[41]. Project and Service Expansion - The number of ongoing drug clinical research projects increased from 567 as of December 31, 2021, to 680 as of December 31, 2022[6]. - The company signed 21 new multi-regional clinical trial projects during the reporting period, increasing ongoing multi-regional clinical trials from 50 to 62[8]. - The number of ongoing single-region clinical trials rose from 132 to 188, while multi-region trials increased from 50 to 62 during the same period[22]. - The company established 189 clinical trial excellence centers and 100 green channel centers in China by December 31, 2022[8]. - The company expanded its global presence by establishing new subsidiaries in the UK, Netherlands, and Argentina, totaling 29 subsidiaries across five continents[20]. Investment and Acquisitions - The company completed the acquisition of European contract research organization Marti Farm D.o.o. in January 2023, enhancing local regulatory expertise in Europe[8]. - The company completed the acquisition of Experimur LLC for a total cash consideration of up to $76 million, which has been integrated into the company's consolidated financial statements[106]. - The company acquired 100% of Meditip Co., Ltd for a cash consideration of 20,091,556,000 KRW (approximately RMB 105.4 million), enhancing its market research capabilities in the biopharmaceutical sector[110]. - The company approved the acquisition of 88.1% of Frontage Clinical for approximately $13.215 million, which will be consolidated into the company's financial statements[118]. Workforce and Talent Management - The number of employees increased from 8,326 to 9,233, reflecting a growth in workforce[26]. - The company has recruited over 560 interns for clinical trial-related positions during the reporting period, collaborating with over 23 universities to attract high-quality graduates[101]. - The company has implemented a competitive compensation package, including long-term equity incentive plans, to enhance its competitive advantage and talent retention[102]. - The company faces a risk of talent loss, as the competition for qualified personnel is intense, which could significantly impact its competitiveness and financial performance[150]. Corporate Governance - The board consists of seven members, including four executive directors and three independent non-executive directors[157]. - The company emphasizes the importance of independent directors in ensuring corporate governance and strategic oversight[165]. - The company has adopted corporate governance practices in line with the principles outlined in the listing rules, maintaining high standards of governance throughout the reporting period[177]. - The audit committee, composed of three independent non-executive directors, held three meetings during the reporting period to review financial performance and internal controls[199]. Market Trends and Challenges - The global contract research organization (CRO) market size increased from $52.54 billion in 2017 to $75.94 billion in 2021, with a compound annual growth rate (CAGR) of 9.7%[123]. - The company anticipates continued business development and expansion, necessitating significant management, financial, and human resources to enhance services and technology[142]. - Increased competition in the global pharmaceutical contract research market may lead to pricing pressure, potentially reducing revenue and profitability[140]. - The regulatory environment in China is increasingly stringent, driving demand for emerging business services related to drug lifecycle management[131]. Strategic Goals and Future Outlook - The company aims to create lasting value for all stakeholders despite global macroeconomic challenges and the impact of the pandemic[5]. - The company plans to continue increasing R&D investment in response to growing market demand for innovative drugs and medical devices[123]. - The company aims to optimize services to meet the evolving needs of clients, supported by its growing and diversified customer base[103]. - The company is committed to investing in innovative biopharmaceutical and medical device startups, aiming to build long-term partnerships and promote industry innovation[104].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3347） 2023年第一季度報告 本公告根據香港聯合交易所有限公司證券上市規則第13.09(2)條和第13.10B條及 香港法例第571章《證券及期貨條例》第XIVA部內幕消息條文作出。 下文為杭州泰格醫藥科技股份有限公司（「本公司」，連同其子公司統稱「本集團」） 2023年財政年度第一季度報告。本公告及隨附的財務報表最初以中文編製，並以 中英文版本刊登。如中英文版本有任何歧義或衝突，概以中文版本為準。 謹請本公司股東及公眾投資者注意，隨附財務報表乃根據中國企業會計準則編製 且未經審計。 承董事會命 杭州泰格醫藥科技股份有限公司 葉小平 董事長 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3347） 截至2022年12月31日止年度之 年度業績公告 財務摘要 截至12月31日止年度 2022年 2021年 變動(2) 人民幣百萬元 人民幣百萬元 經營業績 收入 7,085.5 5,213.5 35.9% 毛利 2,785.4 2,248.1 23.9% 本公司擁有人應佔淨利潤 2,016.1 2,879.1 (30.0)% 本公司擁有人應佔經調整淨利潤(1) 1,665.8 1,585.3 5.1% 盈利能力 毛利率 39.3% 43.1% (3.8)% 本公司擁有人應佔淨利潤率 28.5% 55.2% (26.7)% 本公司擁有人應佔經調整淨利潤率(1) 23.5% 30.4% (6.9)% ...

Financial Performance - Total revenue for Q3 2022 reached CNY 1,811,809,605.48, representing a year-on-year increase of 35.35%[4] - Net profit attributable to shareholders for Q3 2022 was CNY 412,654,717.12, a decrease of 21.56% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 420,730,911.64, an increase of 29.02% year-on-year[4] - The company's operating revenue increased by 59.23% year-on-year, reaching ¥5,406,018,843.59, primarily due to increased customer demand and new clinical trial project revenues related to COVID-19[10] - Total revenue for the period reached CNY 5,406,018,843.59, a significant increase from CNY 3,395,015,172.83 in the previous period, representing a growth of approximately 59%[24] - Net profit attributable to shareholders of the parent company is 1,604,658,753.47, compared to 1,781,050,132.72 in the previous period, reflecting a decline of about 9.9%[30] - Total comprehensive income for the current period is 2,122,816,682.93, slightly down from 2,152,521,703.42 in the previous period, indicating a decrease of approximately 1.4%[31] - Basic earnings per share for the current period is 1.86, down from 2.05 in the previous period, a decrease of about 9.3%[31] Assets and Liabilities - The total assets as of the end of the reporting period amounted to CNY 27,140,006,778.09, reflecting a year-on-year growth of 14.32%[4] - Total assets increased to CNY 27,140,006,778.09 from CNY 23,741,171,551.32, reflecting a growth of about 14%[22] - The total liabilities rose to CNY 4,945,848,302.81 from CNY 3,135,974,351.68, an increase of approximately 58%[22] - The total owner's equity amounted to CNY 22,194,158,475.28, up from CNY 20,605,197,199.64, reflecting an increase of about 7.7%[23] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 825,385,230.87, an increase of 13.31% compared to the previous year[4] - Cash flow from operating activities increased to 4,990,906,039.78 from 3,132,970,902.71, representing a growth of approximately 59.2%[33] - Cash flow from investing activities resulted in a net outflow of -2,410,641,100.18, compared to -2,261,400,080.39 in the previous period, indicating a larger outflow[38] - Cash flow from financing activities generated a net inflow of 793,767,270.67, compared to a net outflow of -146,289,027.23 in the previous period, showing a significant turnaround[38] Inventory and Receivables - Accounts receivable increased by 39.76% to CNY 9,685,880.73 due to the receipt of bank acceptance bills from customers[8] - Inventory surged by 475.76% to CNY 35,093,313.34, primarily due to the purchase of experimental materials[8] - The company's inventory significantly increased to CNY 35,093,313.34 from CNY 6,095,078.95, representing a growth of about 475%[18] Investments and Goodwill - Long-term equity investments rose by 134.28% to CNY 1,730,862,925.56, attributed to increased investments in joint ventures[8] - Long-term equity investments surged to CNY 1,730,862,925.56, up from CNY 738,799,229.15, marking an increase of approximately 134%[19] - Goodwill increased by 40.68% to CNY 2,502,676,842.64, mainly due to goodwill generated from newly acquired subsidiaries[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 45,457[13] - The top shareholder, Ye Xiaoping, holds 20.32% of the shares, totaling 177,239,541 shares[14] Other Financial Metrics - The weighted average return on net assets was 2.18%, down by 0.86% from the previous year[4] - The company's gross profit margin was impacted as operating costs increased by 79.13% to ¥3,237,445,384.18, driven by higher sales and third-party supplier costs[10] - The company reported a 203.43% increase in credit impairment losses, amounting to -¥18,423,588.03, due to increased provisions for bad debts on accounts receivable[10] - The company’s other comprehensive income showed a significant change, with a decrease of 169.85% to ¥108,968,679.69, primarily due to foreign currency translation differences[9] - The company’s financial expenses decreased by 32.28% to -¥118,911,951.41 from -¥175,590,189.04, mainly due to reduced interest expenses from short-term borrowings[50] Audit Status - The report for the third quarter has not been audited[40] - The company did not conduct an audit for the third quarter report[80]

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 3,594.2 million, representing a 74.8% increase from RMB 2,056.4 million in the same period of 2021[10]. - Gross profit for the same period was RMB 1,418.3 million, up 46.7% from RMB 966.9 million year-on-year[10]. - Net profit attributable to owners of the company decreased by 5.4% to RMB 1,192.0 million from RMB 1,259.9 million in the previous year[10]. - Adjusted net profit attributable to owners increased by 26.6% to RMB 876.5 million compared to RMB 692.1 million in the prior year[10]. - Gross margin for the period was 39.5%, down from 47.0% in the previous year, reflecting a decrease of 7.5%[10]. - Net profit margin attributable to owners was 33.2%, a decline of 28.1% from 61.3% in the same period last year[10]. - Basic earnings per share for the period was RMB 1.38, a decrease of 4.8% from RMB 1.45 in the previous year[10]. - Adjusted basic earnings per share increased by 26.3% to RMB 1.01 from RMB 0.80 year-on-year[10]. - The adjusted net profit margin for the period was 24.4%, down from 33.7% in the previous year[56]. - Basic adjusted earnings per share increased from RMB 0.80 to RMB 1.01[56]. Revenue Breakdown - Revenue from clinical trial technology services reached RMB 2,172.1 million, representing a year-on-year increase of 110.1%, while revenue from clinical trial-related services and laboratory services was RMB 1,422.1 million, up 39.0% year-on-year[13]. - Revenue generated in China grew by 51.3% to RMB 1,680.8 million, benefiting from the company's leading position in the clinical services market[21]. - Overseas revenue surged by 102.3% to RMB 1,913.4 million, driven by demand for multi-regional clinical trials related to COVID-19[21]. - The company’s clinical trial-related services and laboratory services revenue increased from RMB 1,022.8 million to RMB 1,422.1 million, reflecting a year-on-year growth of 39.0%[33]. Market Position and Growth - The company maintained a leading position in China's clinical services market with a market share of 12.5% in 2021, an increase of 4.1% from 2019[13]. - The number of ongoing single-region clinical trials increased from 132 to 149 between December 31, 2021, and June 30, 2022[15]. - The company has established partnerships with over 1,200 clinical trial centers certified by the National Medical Products Administration in China, creating one of the largest clinical trial center networks in the country[86]. - The company has a diverse and loyal customer base, including leading multinational and Chinese biopharmaceutical companies, contributing to its revenue growth[91]. Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product offerings through new technologies and strategic initiatives[10]. - Future outlook includes continued investment in research and development to drive growth and improve profitability[10]. - The company has formed strategic partnerships with 21 clinical trial excellence centers to explore leading clinical research management platforms[16]. - The company continues to invest in centralized service centers in China to support global operations and enhance service delivery[15]. Operational Developments - The company established 26 overseas subsidiaries across 53 countries, employing over 1,100 overseas staff as of June 30, 2022[15]. - The number of ongoing drug clinical research projects increased from 567 to 607, with 400 projects in China and 207 overseas as of June 30, 2022[26]. - The company has implemented business continuity plans and emergency strategies to address disruptions caused by the pandemic[18]. - The company has established a comprehensive pandemic operation guideline to mitigate the impact of COVID-19 on clinical trial progress[24]. Expenses and Financial Management - Sales and marketing expenses increased by 19.9% to RMB 80.0 million, attributed to an increase in the number of sales and marketing personnel and their compensation[46]. - Administrative expenses rose by 30.3% to RMB 321.4 million, driven by increased employee costs and amortization of intangible assets[47]. - Research and development expenses increased by 18.8% to RMB 110.5 million, due to a rise in the number of employees involved in R&D activities and their compensation[48]. - Financial costs increased by 292.4% from RMB 7.9 million to RMB 31.0 million, primarily due to bank loan interest expenses rising to RMB 19.4 million[50]. Investments and Acquisitions - The company completed the acquisition of 88.1% of Frontage Clinical for approximately USD 13,215,000, which will be consolidated into the group's financial statements[190]. - The company’s acquisition of Experimur LLC in January 2022 aimed to expand GLP-compliant toxicology and related non-clinical development services[33]. - The company plans to utilize its strong investment and financing platform to enhance its core competitiveness in the biopharmaceutical sector[84]. - The company is focused on expanding its laboratory service capabilities through acquisitions, enhancing its clinical trial capabilities for medical devices[92]. Employee and Talent Management - Employee count remained stable at 8,299, with overseas employees increasing from 1,026 to 1,151 during the reporting period[19]. - The company has established a stock incentive plan for key employees, allowing them to share in the business growth, which is crucial for talent retention[122]. - The company is committed to continuous training programs for employees to enhance skills and knowledge, ensuring a capable workforce to meet service demands[129]. - The management team is experienced, with many members having previously worked at leading biopharmaceutical companies, enhancing the company's ability to address client challenges in clinical development[90]. Regulatory and Compliance Risks - The company must obtain and maintain various regulatory approvals and licenses; failure to do so could severely disrupt operations and impact financial performance[116]. - Increased competition in the global pharmaceutical contract research market may lead to pricing pressure, potentially reducing revenue and profitability[113]. - The company faces risks related to adapting to regulatory and policy updates, which could adversely affect its business, financial condition, and operating performance if not managed effectively[113]. Shareholder Returns and Equity Management - The company declared dividends amounting to RMB 432,463 thousand during the period, consistent with its commitment to return value to shareholders[200]. - The company plans to repurchase shares with a total amount not less than RMB 250 million and not exceeding RMB 500 million, with a maximum repurchase price of RMB 120.00 per share[96]. - As of the report date, the company repurchased a total of 3,909,800 A-shares, accounting for 0.4481% of the total share capital, with a total transaction amount of approximately RMB 369.39 million[96].

Financial Performance - Revenue for 2021 increased by 63.3% year-on-year, reflecting strong customer service momentum and successful market introduction of key innovative products[7] - In 2021, the company achieved a revenue of RMB 5,213.5 million, representing a 63.3% increase from RMB 3,192.3 million in 2020[11] - The gross profit for 2021 was RMB 2,248.1 million, up 49.5% from RMB 1,503.3 million in the previous year[11] - Net profit attributable to the company's owners reached RMB 2,879.1 million, a 64.4% increase compared to RMB 1,751.3 million in 2020[11] - The company’s adjusted net profit for 2021 was RMB 1,585.3 million, reflecting a 60.6% increase from RMB 987.2 million in 2020[11] - The gross profit margin for 2021 was 43.1%, a decrease of 4.0% from 47.1% in 2020[11] - Other income increased by 103.4% from RMB 145.1 million to RMB 295.2 million, mainly driven by an increase in interest income from bank deposits[40] - Other gains and losses (net) rose by 63.1% from RMB 1,273.6 million to RMB 2,077.2 million, largely due to fair value changes in financial assets[41] - Net profit for the year increased by 67.3% from RMB 2,030.6 million to RMB 3,396.6 million, with profit attributable to owners of the company rising by 64.4% to RMB 2,879.1 million[47] Operational Expansion - The company expanded its global presence with 24 overseas subsidiaries and over 1,000 employees across 52 countries by the end of 2021[10] - The number of ongoing drug clinical research projects increased from 389 as of December 31, 2020, to 567 as of December 31, 2021[16] - The company has 24 overseas subsidiaries and over 1,000 overseas employees across 52 countries as of December 31, 2021[16] - The number of ongoing single-region clinical trials rose from 111 as of June 30, 2021, to 132 as of December 31, 2021[17] - The company served as the leading clinical contract research organization for the Convidecia™ vaccine's multi-center phase III clinical study, contributing to its conditional approval in February 2021[17] - The company established a centralized service center in China to better support global operations, providing various ancillary services for clinical trials conducted overseas[17] - The company operates in 52 countries and regions across five continents, reflecting its global market expansion strategy[19] Client Relationships and Market Position - The company has established a strong and loyal customer base, with 6 out of the top 20 clients being multinational pharmaceutical companies and 16 being listed companies, contributing to significant revenue growth during the reporting period[76] - The company achieved a 100% retention rate among its top ten clients by revenue, indicating strong long-term relationships and stability in future income[76] - The company has successfully helped clients obtain approvals for various milestone drugs in China, showcasing its expertise in the clinical development process[76] - The company is committed to investing in emerging technologies to enhance service efficiency and expand its service range[88] Strategic Acquisitions and Investments - The company completed three acquisitions in 2021 to enhance its laboratory services, including Ocean Ridge Biosciences, Quintara Discovery, and a 70% stake in Wuhan HeYan Biomedical Technology[18] - Strategic acquisitions, including the purchase of DreamCIS and the enhancement of laboratory services through the acquisition of Fangda, have expanded the company's service offerings and geographical reach[77] - The company plans to utilize cash generated from operations and proceeds from its H-share IPO to meet future funding needs[54] - The company plans to continue selective acquisitions and investments to achieve business growth, but may face challenges in identifying suitable targets[99] Employee Growth and Talent Management - In 2021, the total number of employees increased from 6,032 as of December 31, 2020, to 8,326 as of December 31, 2021, representing a growth of approximately 38%[19] - The company expanded its overseas workforce from 854 employees as of June 30, 2021, to 1,026 employees as of December 31, 2021, indicating a growth of about 20%[19] - The company collaborates with over 20 universities to train medical talent, enhancing its talent pool and ensuring a steady supply of qualified professionals[75] - Competitive compensation packages, including long-term equity incentive plans, have strengthened the company's ability to attract and retain top talent[75] - The company emphasizes the importance of attracting top talent to support its global expansion and will enhance employee recruitment and training programs[89] Governance and Compliance - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a diverse governance structure[108] - The company has adopted corporate governance practices in accordance with the principles and code provisions of the Listing Rules Appendix 14[120] - The company has established an audit committee to oversee financial reporting and internal auditing, ensuring compliance with relevant laws and regulations[161] - The company has implemented strict anti-corruption policies for sales personnel and distributors to ensure compliance with promotional regulations[161] - The company has established a union in China to represent employees in the formulation of company rules and internal regulations[105] Risk Management - The company recognizes that risk management is crucial for business success, facing operational risks including market conditions and regulatory changes in the global contract research organization market[155] - The company has established a virtual private network between Beijing, Hangzhou, Shanghai, and Jiaxing, and a remote disaster recovery center on Amazon Web Services to enhance data security[156] - The board is responsible for establishing and maintaining an effective internal control system, regularly reviewing and strengthening it during the reporting period[159] - The company faces risks related to the loss of major clients and contracts, which could significantly impact its business and financial performance[98] Future Outlook - The company plans to enhance its service offerings in emerging areas such as pharmacovigilance, real-world research, and early-stage development to capture more market share[87] - The company aims to expand its global presence, particularly in the US, Europe, and major emerging markets, through organic growth and strategic acquisitions[88] - The company anticipates continued increases in recruitment and retention costs due to the competitive market for skilled personnel in the pharmaceutical and medical device sectors[100] - The company’s financial performance may be significantly affected by fluctuations in the fair value of financial assets beyond its control[102]

Financial Performance - Revenue for the six months ended June 30, 2021, reached RMB 2,056.4 million, a 41.6% increase from RMB 1,452.0 million in the same period of 2020[9] - Net profit for the same period was RMB 1,594.2 million, reflecting a 52.0% increase compared to RMB 1,049.0 million in the prior year[9] - Gross profit for the six months was RMB 966.9 million, up 38.5% from RMB 698.1 million in the same period last year[9] - The adjusted net profit attributable to the company’s owners was RMB 692.1 million, a 69.8% increase from RMB 407.7 million in the prior year[9] - Profit for the period increased by 52.0% year-on-year to RMB 1,594.2 million, with profit attributable to owners rising by 24.5% to RMB 1,259.9 million[39] - The effective tax rate decreased from 7.9% to 6.1%, primarily due to changes in other income items and deferred tax expenses[38] - Other income increased by 362.1% year-on-year to RMB 147.4 million, primarily due to interest income rising from RMB 22.5 million to RMB 134.4 million[32] - The company reported a total comprehensive income of RMB 1,550,156 thousand for the period, compared to RMB 1,075,233 thousand in 2020, marking a substantial increase[147] Revenue Breakdown - Revenue from clinical trial technical services generated revenue of RMB 1,033.6 million, a year-on-year increase of 45.4%[11] - Revenue from clinical trial-related services and laboratory services amounted to RMB 1,022.8 million, with a year-on-year growth of 38.0%[11] - Revenue generated in China grew by 31.3% to RMB 1,110.8 million, benefiting from effective COVID-19 control measures[18] - Overseas revenue surged by 56.0% to RMB 945.6 million, driven by increased demand for multi-regional clinical trials[18] - Revenue from clinical trial technology services was RMB 1,033,554 thousand, while revenue from clinical trial-related services and laboratory services was RMB 1,022,821 thousand, showing strong growth compared to RMB 711,035 thousand and RMB 740,959 thousand in 2020 respectively[163] Operational Growth - New order amount during the reporting period was RMB 5,074.8 million, representing a significant growth of 150.8% year-on-year[11] - The number of employees increased to 7,208 as of June 30, 2021, up from 6,032 at the end of 2020[11] - The number of ongoing drug clinical research projects increased from 389 to 491, with 351 in China and 140 overseas as of June 30, 2021[20] - The company expanded its single-region clinical trials from 95 to 111 during the reporting period, and the number of multi-region clinical trials increased from 20 to 29[13] - The global project management team grew from 31 to 43 members, enhancing support for overseas clinical trials[13] Acquisitions and Investments - Two acquisitions were completed to enhance laboratory services, including the acquisition of Ocean Ridge Biosciences, Inc. and Quintara Discovery, Inc.[13] - The company successfully acquired DreamCIS, a leading clinical contract research organization in South Korea, marking its first acquisition in developed markets and enhancing its expertise to meet global client needs[69] - The acquisition of 方达 (Fangda) improved the company's laboratory service capabilities, while the acquisition of 泰州泰格捷通医药科技有限公司 enhanced its medical device clinical trial capabilities[69] - The company has invested in innovative biopharmaceutical and medical device startups, aiming to establish long-term partnerships and promote innovation in the biopharmaceutical industry globally[69] Financial Position - The company's trade receivables and other receivables increased by 8.7% to RMB 694.0 million, driven by an increase in trade receivables from third parties from RMB 490.9 million to RMB 563.4 million[46] - The company's contract assets rose by 31.0% to RMB 1,080.2 million, attributed to an increase in total contract amounts with clients[49] - The company's property, plant, and equipment increased by 32.8% to RMB 532.0 million, mainly due to investments in laboratory facilities and office expansions[50] - The financial assets measured at fair value increased by 32.9% to RMB 7,086.4 million, driven by fair value increases and ongoing investment activities[53] - The company had no outstanding borrowings as of June 30, 2021, resulting in a debt-to-equity ratio of zero[58] Employee and Management Initiatives - The company has a team of over 800 professionals operating in 39 countries, providing various clinical trial and laboratory services[64] - The company collaborates with 21 universities to train medical talent, enhancing its talent pool for clinical trial operations[66] - The company has launched stock option plans and share incentive programs to provide competitive compensation to its employees[66] - The company emphasizes the importance of retaining experienced management and technical personnel to support ongoing business growth and development of new services and products[89] Market Outlook and Strategy - The company aims to become the largest clinical contract research organization in China, leveraging its extensive clinical trial center network and strong track record[74] - The global clinical contract research organization industry is expected to continue growing, driven by increased R&D spending, cost-saving measures, and the emergence of new biotechnologies[74] - The company plans to enhance its service offerings in the clinical contract research market to capture more market share and new business opportunities[75] - The company aims to expand its global business, particularly in the US and Western Europe, through organic growth and strategic acquisitions[76] Risks and Challenges - Risks include potential impacts from the COVID-19 pandemic on business operations and financial performance[78] - A decline in demand for biopharmaceutical research services could significantly affect the company's business and financial outlook[79] - The company must adapt to regulatory changes to avoid negative impacts on its operations and financial performance[80] - The company faces increasing competition in the global pharmaceutical contract research organization market, impacting pricing and potentially reducing revenue and profitability[81] Compliance and Governance - The company is committed to maintaining compliance with the applicable disclosure requirements of the stock exchange[158] - The company's independent auditor confirmed that the financial statements complied with applicable accounting standards and regulations[144] - The company reminded all directors of the importance of complying with the standard code for securities trading to prevent future violations[138]

Financial Performance - In 2020, the company's revenue increased by 13.9% year-on-year, reaching RMB 5,536.5 million[9]. - Revenue for the year ended December 31, 2020, was RMB 3,192.3 million, representing a year-on-year increase of 13.9% from RMB 2,803.3 million in 2019[12]. - Net profit attributable to the company's owners reached RMB 1,751.3 million, a significant increase of 108.2% compared to RMB 841.2 million in 2019[12]. - The company achieved a gross profit of RMB 1,503.3 million, reflecting a 16.4% increase from RMB 1,291.9 million in the previous year[12]. - The gross margin improved to 47.1% in 2020, compared to 46.1% in 2019, indicating enhanced profitability[12]. - The adjusted net profit attributable to the company's owners was RMB 987.2 million, a 36.9% increase from RMB 721.0 million in 2019[12]. - The company's cash and cash equivalents increased by 396.3% to RMB 9,960.0 million from RMB 2,006.9 million in 2019[13]. - Other income increased by 126.4% to RMB 145.1 million, primarily due to interest income rising from RMB 26.8 million to RMB 114.1 million[38]. - The company reported a significant increase in revenue, achieving a total of 750,000 A-shares pledged as collateral for personal financial arrangements by the general manager, which occurred during a prohibited trading period[129]. Operational Highlights - New orders grew by 30.9% year-on-year, totaling RMB 5,536.5 million[9]. - The contracted future revenue rose by 44.9% year-on-year, amounting to RMB 7,260.3 million as of December 31, 2020[9]. - The company provided services to over 2,000 clients in 2020, enhancing its customer relationships[10]. - The company secured over RMB 300 million in new orders for multi-regional clinical trials in 2020[9]. - The company focused on expanding into new markets in South Asia, Latin America, and Africa strategically[9]. - The company contributed to the successful launch of multiple innovative drugs and medical devices in 2020[9]. - The company actively participated in clinical trials for COVID-19 treatments, including leading a multi-center phase III clinical study for the Ad5-nCoV vaccine[9]. - The number of ongoing drug clinical research projects increased from 287 to 389, with 274 projects in China and 115 overseas[28]. - The company expanded its medical device clinical research services to include in vitro diagnostic (IVD) development services and risk monitoring services[28]. - The company has established a comprehensive biopharmaceutical R&D service system since its inception in 2004, benefiting from recent regulatory reforms and industry growth[90]. Employee and Talent Management - The number of employees increased to 6,032 by December 31, 2020, up from 4,959 at the end of 2019[19]. - The company had a total of 6,032 employees as of December 31, 2020, with competitive compensation and incentive plans to attract and retain talent[112]. - The company invests in continuous education and training programs for employees to enhance their skills and knowledge[112]. - The company has established a robust talent management and training system specifically for cross-border and multi-regional R&D projects[93]. - The company is committed to attracting top talent, particularly those with global experience and technical expertise, to support global expansion efforts[95]. Strategic Acquisitions and Investments - The company completed several acquisitions, including Shanghai Mosi Medical Technology Co., Ltd. and Biotranex, LLC, to enhance service offerings[21]. - The strategic acquisition of DreamCIS, a leading clinical contract research organization in South Korea, marks the company's first acquisition in developed markets, enhancing its expertise to meet global client needs[82]. - The acquisition of Frontage Laboratories Inc. aims to expand capabilities in organic synthesis, pharmaceutical chemistry, and process development, contributing to growth in drug discovery and early development services[85]. - The company plans to enhance its service offerings and expand its market share in the clinical contract research organization sector, focusing on advanced drug targets and gene and cell therapies[93]. - The company continues to focus on long-term value creation through selective minority investments in the healthcare sector and partnerships with investment funds[62]. Governance and Compliance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[114]. - The company has a strong governance structure with independent directors and committees focusing on audit, remuneration, and strategic development[125]. - The company is committed to maintaining high levels of corporate governance and will continue to review and monitor its governance practices[128]. - The board confirmed the effectiveness and adequacy of the group's risk management and internal control systems as of December 31, 2020[167]. - The company has established an internal audit function to assess and improve the effectiveness of risk management and internal control systems[167]. Financial Position and Cash Flow - The net cash generated from operating activities for the year ended December 31, 2020, was RMB 892.4 million, an increase of 66.0% compared to RMB 537.6 million for the year ended December 31, 2019[51]. - The net cash used in investing activities for the year ended December 31, 2020, was RMB 2,231.3 million, a significant increase of 266.1% from RMB 609.4 million for the year ended December 31, 2019[51]. - The net cash generated from financing activities for the year ended December 31, 2020, was RMB 9,339.5 million, a substantial increase of 590.4% compared to RMB 1,352.8 million for the year ended December 31, 2019[52]. - The company's goodwill increased by 24.8% from RMB 1,157.8 million as of December 31, 2019, to RMB 1,444.5 million as of December 31, 2020, primarily due to acquisitions[57]. - The company's intangible assets increased by 58.4% from RMB 78.8 million as of December 31, 2019, to RMB 124.8 million as of December 31, 2020, mainly due to software procurement and customer relationships acquired through acquisitions[58]. Risks and Challenges - The business operations and financial performance have been adversely affected by the COVID-19 pandemic, with potential ongoing impacts from future outbreaks[96]. - A decline in demand for biopharmaceutical research and development services poses a significant risk, particularly if clients reduce their spending on services[97]. - Increased competition in the global pharmaceutical contract research organization market may negatively impact the company's business and financial performance[98]. - The company must obtain and maintain various regulatory approvals, licenses, and certifications to operate, with potential disruptions if these are not secured[101]. - The company is at risk of losing major clients or contracts, which could significantly impact its business and financial performance[103].