Product Development and Innovation - SciClone's core product, Zadaxin, capitalized on market opportunities in 2023, benefiting a wide range of patients[26]. - The in-licensed product, Danyelza, officially launched in China, further expanding SciClone's product portfolio[26]. - SciClone obtained the exclusive license to develop and commercialize the innovative product Orserdu in China[26]. - The Phase III clinical trial of the new antimicrobial product Vaborem completed patient enrollment, indicating positive progress in the pipeline[26]. - The company is committed to identifying innovative products with first-in-class or best-in-class potential to boost future performance growth momentum[27]. - The company plans to increase investment in research and development and expand its product pipeline to launch more differentiated and high-quality innovative drugs[31]. - The company has over 10 ongoing clinical studies in China and overseas, focusing on oncology, severe infections, and vaccines[52]. - The company is actively seeking to develop products focusing on targeted therapies, immunotherapy, and enhanced chemotherapy options[62]. - Tα1 is being evaluated in multiple clinical studies, including its efficacy and safety in advanced gastric cancer and LA-NSCLC[54]. - The company has a portfolio of 10 pipeline drug candidates, with 6 in phase III or later stages overseas and a fast-to-market strategy in China[62]. - The company is conducting a US Phase II trial for PT-112, a platinum-containing compound for late-stage prostate cancer, with a Phase 2a trial already completed[71]. - Vaborem, a carbapenem and β-lactamase inhibitor, obtained IND approval in March 2023, with the first subject dosed in July 2023, and subject enrollment completion expected in January 2024[67]. - Danyelza, targeting high-risk neuroblastoma, was officially commercialized in July 2023, with BLA approval obtained in Macau in June 2023 and submission in Hong Kong in January 2023[70]. - Tα1 has been included in three additional treatment guidelines and a nationwide patient education manual for liver cancer as of December 31, 2023[55]. - The company is focusing on expanding its pipeline with innovative therapies targeting solid tumors and specific cancer mutations[71]. Financial Performance - For the year ended December 31, 2023, the company's revenue reached RMB3,155.6 million, an increase of 14.8% compared to the previous year[31]. - Gross profit for 2023 was RMB2,356.2 million, reflecting a growth of 13.8% from 2022[34]. - Net profit increased by 31.2% to RMB1,121.9 million compared to the net profit for the year ended December 31, 2022[34]. - Core net profit, excluding one-off changes, was approximately RMB1,236.9 million, up by about 19.5% year-over-year[34]. - Operating cash flow achieved RMB1,404.3 million, representing an increase of RMB220.7 million or 18.6% from the previous year[34]. - Selling and marketing expenses increased by 13.5%, while research and development expenses grew by 37.8% compared to the last year[39]. - The total cash and cash equivalents amounted to approximately RMB2.2 billion as of December 31, 2023[38]. - The company reported a profit for the year attributable to the owner of RMB 1,121.9 million, a 31.1% increase from RMB 855.4 million in 2022[95]. - The company's profit for the year rose by 31.2% to RMB1,121.9 million in 2023, up from RMB855.4 million in the previous year[118][123]. - Other net losses decreased by RMB103.3 million, or 66.5%, to RMB52.1 million in 2023, primarily due to the absence of one-off costs recorded in 2022[116][119]. Strategic Initiatives and Market Expansion - The company is proactively implementing strategic transformation and increasing investments to improve its revenue mix and enhance R&D capabilities[27]. - The company aims to achieve better operational efficiency and compliance through investments in digital technologies and the GTP model[47]. - The company collaborates with various DTP chains and commercial insurance providers to expand its market reach[48]. - Continuous growth of marketed products is driven by clinical research and academic promotion efforts[51]. - The company aims to leverage its expertise in sales, marketing, and regulatory affairs to distribute Orserdu in China post-approval[74]. - The company is exploring pilot launch opportunities in Bo'ao of Hainan and the Greater Bay Area[79]. - The company aims to enhance cooperation with partners, including Pfizer and Baxter, to expand its market presence[94]. Corporate Governance and Leadership - The company has a strong leadership team with diverse backgrounds in pharmaceuticals, finance, and management, enhancing its strategic direction[146]. - The company is focused on expanding its market presence and leveraging the expertise of its board members for strategic growth[148]. - The board's composition reflects a commitment to governance and strategic oversight, with members holding key positions in various industry organizations[148]. - The company emphasizes the importance of corporate governance in formulating business strategies and policies, enhancing transparency and accountability[187]. - The Board confirmed compliance with the Model Code throughout the year ended December 31, 2023, ensuring ethical conduct in securities transactions[188]. - The Board consists of ten directors, including two executive directors, four non-executive directors, and four independent non-executive directors[192]. - The Board maintains a balance of skills, experience, and diversity appropriate to the company's business requirements[190]. - The company has established written guidelines for securities transactions by employees likely to possess unpublished price-sensitive information[190]. - The Board has consistently met the Listing Rules requirements for the appointment of at least three Independent Non-executive Directors, representing more than one-third of the Board[195]. Market Trends and Challenges - The company anticipates potential fluctuations in short-term performance, which may differ from investor expectations[27]. - The company continues to focus on maintaining steady development in a complex and volatile business environment[25]. - The increased demand for Zadaxin was driven by the prevalence of infectious diseases and the public's understanding of immune modulation benefits post-COVID-19[100]. - The incidence of carbapenem-resistant Klebsiella pneumonia (CR-KP) infections is rising rapidly in China over the last 10 years[82]. - Vaborem is specifically developed to inhibit carbapenem-resistant enterobacterales (CRE), addressing significant unmet medical needs in China[83].

智通财经APP讯，赛生药业(06600)及要约人Silver Pegasus Investment Limited 联合公布，于2024年3月19 日，要约人就根据公司法第86条以协议安排方式将公司私有化，要求董事会向计划股份持有人提呈建 议，其中涉及注销计划股份，作为代价，就每股计划股份以现金向计划股东支付注销价，并撤销股份于 联交所的上市地位。 每股计划股份现金18.8港元较不受干扰日期(2024年3月15日)在联交所所报收市价每股14.04港元溢价约 33.90%，较最后交易日(2024年3月18日)在联交所所报收市价每股16.04港元溢价约17.21%。 最后交易日的交易量为974.15万股。不受干扰期间的平均每日交易量为 203.47万股。公司股价在最后交 易日上涨14.25%。相比之下，恒生指数在最后交易日上涨0.10%。 计划生效后，所有计划股份将予注销，且计划股份的任何股份证书于其后将不再具有所有权文件或证据 的效力。公司将于计划生效后立即根据上市规则第6.15(2)条向联交所申请撤销股份于联交所的上市地 位。 自公司首次公开发售以来，多项因素导致资本市场及公司股价受压，包括地缘局势紧张、供应 ...

Financial Performance - For the year ended December 31, 2023, the company reported revenue of approximately RMB 3,155.6 million, representing a growth of about 14.8% compared to the previous year[2] - Gross profit increased to approximately RMB 2,356.2 million, up approximately 13.8% from RMB 2,070.5 million for the year ended December 31, 2022[6] - Net profit rose by approximately RMB 266.5 million or 31.2% to RMB 1,121.9 million, with core net profit growing approximately 19.5% to RMB 1,236.9 million after excluding one-time fair value changes and impairment losses[2] - Basic earnings per share attributable to the company's owners increased by approximately 44.1% to RMB 1.83, while diluted earnings per share rose by approximately 42.1% to RMB 1.72[3] - Operating cash flow reached approximately RMB 1,404.3 million, an increase of approximately RMB 220.7 million or 18.6% compared to the previous year[3] - Operating profit increased to RMB 1,205.1 million, representing a 26.7% increase from RMB 950.6 million in 2022[28] - The company reported a net profit attributable to shareholders of RMB 1,121.9 million, a 31.1% increase from RMB 855.4 million in 2022[28] - Total revenue for 2023 was RMB 3,155.6 million, up from RMB 2,749.7 million in 2022, with a gross profit of RMB 2,356.2 million[43] - Income tax expense rose to RMB 95.5 million in 2023 from RMB 84.7 million in 2022, primarily due to an increase in profit before tax[42] Product Development and Commercialization - The company has commercialized Danyelza® (naxitamab) as of July 1, 2023, and it has been included in approximately 50 essential drug lists across various provinces[3] - The company entered into a licensing and collaboration agreement with Menarini Group for the exclusive development and commercialization of Orserdu® in China, which is aimed at treating patients with ESR1 mutations[4] - Orserdu, the first and only therapy for treating ESR1 mutation-positive ER+, HER2- advanced or metastatic breast cancer, received FDA approval in January 2023 and EU approval in September 2023[23] - The company signed a licensing agreement with Berlin-Chemie AG in November 2023 to exclusively develop and commercialize Orserdu in China[23] - The company has established a product pipeline consisting of 10 candidate drugs, with 6 in late-stage clinical trials overseas and 4 in early-stage trials in China[20] - The product Vaborem® received IND approval in March 2023 and completed the first patient dosing in July 2023, with patient enrollment expected to finish by January 2024[21] - Danyelza® was commercialized in July 2023 in China, following BLA approval in June 2023 in Macau and submission in January 2023 in Hong Kong[22] - The company is preparing for clinical applications in China following the licensing agreement for Orserdu, with plans to explore pilot launch opportunities in Hainan Boao and the Greater Bay Area[23] Research and Development - Research and development expenses rose by 37.8% to RMB 170.7 million, reflecting progress in multiple key product development projects[39] - The company plans to continue increasing investment in research and development to accelerate its product pipeline and enhance R&D capabilities[39] - Over 10 ongoing clinical studies are being conducted in China and overseas (USA and Italy) to explore the potential clinical applications of marketed products in oncology and severe infections[14] - Clinical trial results for Tα1 were presented at the 2023 ASCO Annual Meeting, highlighting its potential benefits for patients with advanced malignancies[15] - The company is conducting a randomized controlled trial (RCT) on sepsis involving 1,106 patients, with the report submitted for publication[16] Operational Efficiency and Investments - The company has invested in digital technologies and the GTP model to improve operational efficiency and compliance while reaching more stakeholders at lower costs[12] - The GTP platform was upgraded to version 6.2, which includes features like smart consultation and quick prescription renewal, enhancing patient experience and accessibility[12] - The GTP platform has been in operation since 2015, significantly improving patient access to the drug by expanding sales from hospitals to pharmacies[11] - The company aims to enhance brand loyalty through value-added services and comprehensive educational content for patients on the Hai Da Fu platform[12] Market Presence and Recognition - The company was included in the MSCI China Small Cap Index and FTSE Global Equity Index Series in May 2023, enhancing its market presence[4] - The company has received positive evaluations for its strategies in cancer treatment during the COVID-19 pandemic, as highlighted in a Lancet Oncology article[19] Financial Position and Assets - As of December 31, 2023, cash and cash equivalents totaled approximately RMB 2,219.8 million after repaying and prepaying debts[7] - Total assets decreased to RMB 4,000.3 million in 2023 from RMB 4,320.4 million in 2022, with total liabilities also decreasing to RMB 735.2 million from RMB 1,328.2 million[46][47] - Cash and cash equivalents increased to RMB 1,809.2 million in 2023 from RMB 1,671.8 million in 2022, indicating improved liquidity[47] - Trade receivables as of December 31, 2023, amounted to RMB 867,954 thousand, an increase from RMB 780,962 thousand in 2022, reflecting a growth of 11.1%[58] - The net value of intangible assets as of December 31, 2023, was RMB 396,039 thousand, compared to RMB 542,241 thousand at the end of 2022, indicating a decrease of 26.9%[57] Governance and Corporate Structure - The company has complied with all applicable provisions of the Corporate Governance Code for the year ended December 31, 2023[74] - The board consists of both executive and independent non-executive directors, ensuring diverse oversight[83] - The executive team includes CEO Zhao Hong and other key directors, indicating a stable leadership structure[83] - The company is committed to transparency and accountability in its operations and communications[83] - The presence of multiple directors with varied expertise indicates a strategic approach to governance[83] Shareholder Relations and Future Plans - The company declared dividends of RMB 211,453 thousand for the year ended December 31, 2023, slightly up from RMB 204,545 thousand in 2022, marking a growth of 3.4%[54] - The company plans to hold its annual general meeting on June 18, 2024[79] - The board expresses gratitude to shareholders, management, employees, and business partners for their continued trust and support[83] - The company is actively seeking to develop products with the potential to be first-in-class or best-in-class therapies[20]

智通财经APP讯，赛生药业(06600)发布公告，新型抗菌药物Vaborem®(注射用美罗培南韦博巴坦) (Vaborem®)在中国开展的III期临床试验已成功完成全部受试者入组。 该研究是在中国正开展的一项随机、双盲双模拟、阳性药物对照、多中心的III期临床试验，旨在评价 Vaborem®在复杂性尿路感染"cUTI")(包括急性肾盂肾炎)患者中的有效性和安全性，由復旦大学附属华 山医院王明贵教授和上海交通大学医学院附属仁济医院郑军华教授担任主要研究者，在全国27家研究中 心共入组了108例受试者。该研究结果以及同时开展的一项在中国健康志愿者中评估Vaborem®药代动力 学特征的研究结果，将用于桥接国外临床试验数据，并最终支持Vaborem®在中国的上市申请。 Vaborem®为碳青霉烯类抗菌药物以及A类及C类丝氨酸酶β内醯胺酶的新型苯硼酸β-内醯胺酶抑制剂的 固定剂量组合。韦博巴坦能够抑制多种A类以及C类β-内醯胺酶，其保护美罗培南免受丝氨酸酶碳青霉 烯酶的降解，恢复美罗培南对碳青霉烯类耐药菌株的活性。Vaborem®被专门开发用于抑制碳青霉烯类 耐药肠桿菌科细菌(CRE)，包括常见的产肺炎克雷伯菌碳青霉 ...

Financial Performance - For the six months ended June 30, 2023, the company achieved revenue of RMB1,603.3 million, an increase of 8.7% compared to the same period last year[13]. - Gross profit for the first half of 2023 grew to RMB1,194.7 million, reflecting a 5.3% increase from the first half of 2022[13]. - Net profit increased by 18.4% to RMB630.2 million compared to the net profit for the six months ended June 30, 2022[13]. - Operating cash flow reached RMB579.7 million, which is RMB55.8 million or 10.6% higher than the same period last year[13]. - The Company’s operating profit for the first half of 2023 was RMB694.8 million, a 18.3% increase from RMB587.2 million in the same period of 2022[63]. - Profit for the period was RMB630.2 million in the first half of 2023, up by 18.4% from RMB532.2 million for the same period last year[82]. - Total assets declined to RMB4,179.1 million as of June 30, 2023, from RMB4,320.4 million as of December 31, 2022[85]. - Total liabilities slightly increased to RMB1,365.1 million as of June 30, 2023, from RMB1,328.2 million as of December 31, 2022[85]. Expenses and Costs - Selling and marketing expenses increased by 16.8%, while research and development expenses grew by 45.4% compared to the previous year[14]. - The cost of revenue increased by 19.8% to RMB408.6 million in the first half of 2023, primarily due to a significant rise in product costs amounting to RMB51.9 million[72]. - Administrative expenses decreased by 34.2% to RMB62.7 million in the first half of 2023 from RMB95.3 million for the same period last year[81]. - Research and development expenses increased to RMB72.7 million, representing 4.5% of total revenue, compared to 3.4% in the previous year[63]. - Product costs accounted for 64.7% of total revenue in the first half of 2023, up from 62.3% in the same period last year[76]. Product Development and Clinical Research - The company is sponsoring over 10 ongoing clinical studies in China and overseas (the U.S. and Italy) to explore the potential clinical applications of its marketed products in oncology, severe infections, vaccines, and other therapeutic areas[30]. - Results from two clinical trials of Thymosin α-1 ("Tα1") were presented at the 2023 American Society of Clinical Oncology ("ASCO") Annual Meeting, highlighting its safety and efficacy in patients with advanced solid tumors and its integration into concurrent chemoradiotherapy[32]. - Tα1 has been included in more than 25 treatment guidelines and consensuses since 2014, indicating its recognized importance in clinical practice[36]. - A randomized controlled trial (RCT) for sepsis involving 1,106 patients is in preparation for publication, showcasing the company's commitment to advancing clinical research[34]. - The integration of Tα1 into treatment regimens has shown potential for improving survival outcomes in patients with locally advanced non-small cell lung cancer (LA-NSCLC) when combined with concurrent chemoradiotherapy[32]. Market and Sales Strategy - The company is actively searching for potential merger and acquisition targets to support growth[15]. - The upgrade of the "Go-To-Patient" model to version 6.2 aims to enhance digital commercialization capabilities and product accessibility[14]. - As of June 30, 2023, sales through the GTP model accounted for over 78% of total sales volume of Zadaxin, up from approximately 72% in the same period last year[23]. - The GTP model has been instrumental in diversifying sales channels by extending Zadaxin's sales from hospitals to pharmacies since its pilot in 2015[22]. - The company aims to enhance long-term brand loyalty through value-added services on the Hi-Doctor Platform, which provides comprehensive academic and patient education[24]. Financial Position and Cash Management - As of June 30, 2023, total cash and cash equivalents amounted to approximately RMB2.3 billion, representing about 83.3% of the company's net assets[15]. - The ratio of total borrowings to total assets remained healthy at 20.7%[15]. - Total borrowings were approximately RMB863.8 million as of June 30, 2023, all denominated in USD[87]. - The company's gearing ratio was 32.7%, an increase from 30.7% as of December 31, 2022[89]. Shareholder and Corporate Governance - The Board has resolved not to pay any interim dividend for the six months ended June 30, 2023, compared to nil for the same period in 2022[106]. - The company complied with all applicable code provisions of the Corporate Governance Code during the six months ended June 30, 2023[98]. - The Audit Committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2023[101]. - The company is committed to refining its remuneration and incentive policies to ensure competitive remuneration packages for employees[92]. Employee and Incentive Plans - The Option Incentive Plan aims to provide performance-driven incentives to retain key talents and align the interests of employees and shareholders[145]. - The company has a structured approach for granting options, requiring board approval for the CEO and committee approval for other participants[146]. - The maximum number of shares under the Option Incentive Plan is capped at 54,778,710 shares, representing 8.08% of the total shares issued on the Listing Date[149]. - The vesting schedule for options typically spans two years from the date of grant[173]. Product Pipeline and Market Launches - The company has developed a pipeline of 9 potential drug candidates, with 5 in phase III or later stages overseas and a fast-to-market strategy in China[44]. - Danyelza was officially launched in China on July 1, 2023, with patient enrollment expected to begin in the second half of 2023[61]. - The Company successfully dosed the first subject in the Phase III clinical trial of Vaborem in early July 2023[59]. - The company is actively promoting its products through clinical studies and academic initiatives to expand their clinical adoption and sustainable growth[29].

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of RMB 1,603.3 million, an increase of approximately 8.7% compared to RMB 1,475.0 million for the same period in 2022[2]. - Gross profit rose to approximately RMB 1,194.7 million, reflecting a growth of about 5.3%[2]. - Net profit increased by approximately RMB 98.0 million or about 18.4% to RMB 630.2 million[2]. - Basic earnings per share attributable to the company's owners was approximately RMB 1.00, an increase of about 26.6%[3]. - Operating cash flow reached approximately RMB 579.7 million, an increase of about RMB 55.8 million or 10.6%[3]. - Operating profit for the six months ended June 30, 2023, was RMB 694.8 million, representing a margin of 43.3%, compared to 39.8% in the previous year[27]. - The company reported a net profit attributable to shareholders of RMB 630.2 million, which is 39.3% of total revenue, compared to 36.1% in the previous year[27]. - The estimated average annual tax rate for the six months ended June 30, 2023, was 9.7%, up from 8.0% for the same period in 2022[56]. - The company declared dividends of RMB 211,453,000 for the six months ended June 30, 2023, compared to RMB 204,545,000 for the same period in 2022, showing an increase of about 3.5%[58]. - The company's profit attributable to owners for the six months ended June 30, 2023, was RMB 630,183,000, an increase of 18.4% from RMB 532,198,000 for the same period in 2022[60]. Sales and Marketing - Sales through the GTP model accounted for approximately 78% of total sales, up from about 72% in the same period last year[3]. - The GTP model aims to diversify sales through pharmacies, enhancing patient accessibility since its trial in 2015[9]. - The sales and marketing team consists of approximately 800 experienced personnel, strategically deployed across various medical departments to improve operational efficiency and customer experience[8]. - Revenue from proprietary products was RMB 1,334.0 million, accounting for 83.2% of total revenue, up from 80.0% in the previous year[28]. - Revenue from promotional products for business partners decreased by RMB 10.1 million or 5.9% from RMB 171.8 million in the first half of 2022 to RMB 161.7 million in the same period of 2023[35]. Product Development and Clinical Trials - The company has invested in over 10 ongoing clinical studies in China and overseas (USA and Italy) to explore potential clinical applications of its marketed products[14]. - The company has developed a pipeline of nine potential candidates, with five in late-stage development and four in early-stage clinical trials[22]. - The company is actively pursuing partnerships for its drug candidates, enhancing its market presence and development capabilities[22]. - The company has reported significant advancements in clinical trials, including studies on Tα1's efficacy in various cancer treatments, with results presented at the prestigious ASCO annual meeting[15]. - The company has upgraded the GTP model to version 6.2, incorporating AI features such as smart consultation and facial recognition to enhance patient experience and interaction[11]. Financial Position - As of June 30, 2023, cash and cash equivalents totaled approximately RMB 2,343.2 million, representing about 83.3% of net asset value[6]. - Total assets as of June 30, 2023, were RMB 4,179.1 million, down from RMB 4,320.4 million as of December 31, 2022[48]. - Total liabilities as of June 30, 2023, amounted to RMB 1,365,102,000, compared to RMB 1,328,244,000 as of December 31, 2022, reflecting an increase of about 2.8%[49]. - The net asset value decreased to RMB 2,814,010,000 as of June 30, 2023, down from RMB 2,992,162,000 at the end of 2022, indicating a decline of approximately 6.0%[49]. - The company's total equity as of June 30, 2023, was RMB 2,814,010,000, down from RMB 2,992,162,000 at the end of 2022, reflecting a decrease of about 6.0%[49]. Research and Development - Research and development expenses increased to RMB 72.7 million, up from RMB 50.0 million in the same period last year[27]. - The company has been actively conducting clinical research and academic promotion to expand the clinical applications of its marketed products, contributing to sustainable growth[13]. - The product development team consists of approximately 115 members focusing on targeted therapies, immunotherapies, and enhanced chemotherapy regimens[22]. - The company is actively seeking cost-saving strategies to mitigate the impact of rising production costs due to increased product revenue and inflation in Europe[37]. Corporate Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[78]. - The audit committee, consisting of three members, reviewed the unaudited consolidated results for the six months ending June 30, 2023[84]. - The mid-term performance announcement and report will be published on the Hong Kong Stock Exchange and the company's website, ensuring compliance with all regulatory requirements[85]. - The company expresses gratitude to shareholders, management, employees, and business partners for their continued trust and support[92].

Company Performance - In 2022, SciClone achieved remarkable results despite unprecedented challenges from the pandemic and geopolitical conflicts[8]. - In 2022, SciClone achieved revenue of RMB2,749.7 million, a 9.2% increase from the previous year[19]. - Gross profit for 2022 rose to RMB2,070.5 million, reflecting a 7.1% growth year-over-year[19]. - Net profit decreased to RMB855.4 million due to a fair value loss of RMB80.5 million and an impairment loss of RMB99.5 million on intangible assets[19]. - Core net profit from normal operations increased by 5.6% to RMB1,035.4 million compared to 2021[19]. - Operating cash flow reached RMB1,183.6 million, up RMB154.1 million or 15.0% from the previous year[19]. - The company aims to continue consolidating patients, physicians, and pharmacies onto the Hi-Doctor platform to enhance the GTP contribution for Zometa[87]. - Revenue for the year ended December 31, 2022, increased to approximately RMB 2,749.7 million, representing a growth of about 9.2% compared to the previous year[92]. - Sales revenue from the proprietary product Zadaxin rose by RMB 190.3 million, or 9.6%, from RMB 1,978.0 million in 2021 to RMB 2,168.3 million in 2022[94]. Drug Development and Clinical Trials - Zadaxin has been in clinical use for nearly 30 years since its approval in Italy in 1993, benefiting tens of thousands of patients worldwide[10]. - The company has more than 10 ongoing clinical studies in China and overseas, focusing on oncology and severe infections[35]. - A clinical study published in May 2022 showed Tα1 significantly improved the 90-day liver transplantation-free survival rate to 75% compared to 53.4% in the control group[37]. - Tα1 has been included in eight additional treatment guidelines and consensuses as of December 31, 2022, including its first recommendation in gastric cancer guidelines[42]. - A pilot trial of Tα1 for hospitalized patients with hypoxemia and lymphocytopenia due to COVID-19 concluded that Tα1 is safe and increases CD4+ T-cell count[40]. - The RCT of Tα1 combined with PD-1 antibody and apatinib in advanced gastric cancer has completed patient enrollment[40]. - Tα1 is the only immunomodulatory drug recommended for treating septic patients with immunosuppression in the Expert Consensus on Sepsis-induced Immunosuppression[43]. - The company has developed a pipeline of 9 drug candidates, with 5 in phase III or later stages overseas and a fast-to-market strategy in China[53]. - The company is conducting ongoing clinical trials for various products, including a Phase II trial for relapsed second-line osteosarcoma[57]. Financial Stability and Growth Strategy - As of December 31, 2022, cash and cash equivalents totaled approximately RMB2.6 billion, representing 88.2% of the company's net asset value[21]. - The debt-to-net asset ratio improved from 28.2% in 2021 to 19.3% in 2022[21]. - The ratio of total borrowings to total assets decreased to 19.3% from 28.2% as of December 31, 2021[24]. - The company is actively seeking acquisition opportunities in the challenging biotech market to support growth objectives[21]. - The company intends to actively search for potential acquisition targets to enhance its portfolio[88]. - The company aims to achieve operational efficiency through active development and investment in technologies and online platforms[30]. Supply Chain and Operational Response - The company successfully mobilized its global supply chain to ensure the availability of Zadaxin during a surge in demand due to COVID-19[9]. - The company established an emergency supply channel for Zadaxin to meet patient needs during the pandemic[9]. - SciClone's efforts in ensuring drug supply during critical times were recognized by experts and the community[9]. - Despite international supply chain disruptions and inflation pressures, the company ensured stable supply and minimized freight cost impacts[107]. Leadership and Governance - The leadership of CEO Zhao Hong was pivotal in navigating the company through challenging times[8]. - The company is committed to refining its remuneration and incentive policies to ensure competitive remuneration packages for employees[132]. - The company emphasizes the importance of compliance and governance, as highlighted by Ms. Hayes' role in the Audit Committee[150]. - The Board comprises ten Directors, including one executive Director, five non-executive Directors, and four independent non-executive Directors[172]. - The Company has established a board independence evaluation mechanism to enhance Board effectiveness and identify areas for improvement[180]. Research and Development - The company is focused on developing a pipeline of first-in-class or best-in-class products through strategic partnerships and R&D[12]. - The product development team consisted of approximately 110 members in 2022[50]. - The company is focusing on lead conjugate optimization for HSP90-PI3K SMDC, which is currently in pre-clinical stage[58]. - The company is committed to high ethical standards and aims to maximize shareholder wealth in the long term[169]. Market Position and Competitive Advantage - SciClone's commercialization capability is recognized as a key competitive advantage in the Chinese pharmaceutical industry[13]. - Brand loyalty for Zadaxin remains strong due to ongoing breakthroughs in severe infections and oncology[10]. - The company aims to enhance its market position through strategic partnerships and potential acquisitions in the pharmaceutical sector[154]. - The company is focused on expanding its oncology business unit, led by Mr. Chang Yansong, who has 27 years of marketing and business operation experience in the pharmaceutical industry[158].

Financial Performance - Revenue for the year ended December 31, 2022, was approximately RMB 2,749.7 million, representing a growth of about 9.2% compared to the previous year, marking the fifth consecutive year of approximately double-digit growth since the group's restructuring in 2017[2] - Gross profit increased to approximately RMB 2,070.5 million from approximately RMB 1,933.0 million for the year ended December 31, 2021[2] - Core net profit, after excluding fair value losses and impairment losses, was approximately RMB 1,035.4 million, reflecting a growth of about 5.6% year-on-year[2] - Operating cash flow reached approximately RMB 1,183.6 million, an increase of about RMB 154.1 million (or 15.0%) compared to the previous year[3] - The company reported a net profit of RMB 855.4 million, impacted by a fair value loss of RMB 80.5 million and an impairment loss of RMB 99.5 million on intangible assets[7] - Operating profit was RMB 950.6 million, with a profit margin of 34.6% for the year ended December 31, 2022[32] - Net profit for the year was RMB 855.4 million, down from RMB 923.4 million, with core operating profit increasing by 5.6% to RMB 1,035.4 million after excluding certain losses[48] Revenue Breakdown - Sales revenue for the proprietary product, DaxibotulinumtoxinA, increased by RMB 190.3 million or 9.6% to RMB 2,168.3 million, demonstrating resilience despite its removal from the volume-based procurement list[3] - Total revenue from the product Zeta was RMB 184.3 million, up from RMB 169.8 million the previous year, with efforts to improve patient accessibility and academic promotion[4] - Revenue from proprietary products, primarily from the product Rituximab, increased by RMB 190.3 million or 9.6% to RMB 2,168.3 million in 2022[34] - Revenue from licensed products rose from RMB 183.3 million to RMB 222.5 million, driven by contributions from the products Zytiga and Daratumumab[35] - The sales revenue of Zytiga was RMB 184.3 million in 2022, up from RMB 169.8 million in the previous year[36] - Daratumumab contributed approximately RMB 30.5 million in revenue for the year ended December 31, 2022[37] Cash and Assets - The company has a cash and cash equivalents balance of approximately RMB 2.6 billion, representing about 88.2% of the company's net asset value as of December 31, 2022[7] - Total assets as of December 31, 2022, amounted to RMB 4,320,406 thousand, an increase from RMB 4,062,682 thousand in 2021[52] - Current assets increased to RMB 3,600,487 thousand from RMB 2,999,060 thousand in the previous year, showing a growth of 20.1%[52] - Cash and cash equivalents were RMB 1,671,829 thousand, down from RMB 2,127,488 thousand in 2021, a decrease of 21.4%[52] - The company's total trade receivables as of December 31, 2022, amounted to RMB 780,962,000, an increase of 42.7% from RMB 546,512,000 in 2021[64] Expenses and Liabilities - Revenue cost increased by 16.0% from RMB 585.5 million in 2021 to RMB 679.2 million in 2022[39] - Sales and marketing expenses increased by 8.4% to RMB 627.7 million, with employee compensation and sales incentives rising by RMB 70.7 million or 22.1%[42] - Administrative expenses increased by 9.0% to RMB 225.0 million, primarily due to an increase in impairment losses on intangible assets[43] - Total liabilities decreased to RMB 1,328,244 thousand from RMB 1,745,274 thousand in 2021, indicating a reduction of 23.9%[53] Research and Development - The company has over 10 ongoing clinical studies in China and overseas, focusing on various therapeutic areas including oncology and severe infections[12] - The product development team consists of approximately 110 members, focusing on targeted therapies, immunotherapies, and enhanced chemotherapy regimens[19] - DANYELZA® (naxitamab) received BLA approval in December 2022 for treating high-risk neuroblastoma patients aged 1 year and older[6] - RRx-001 is undergoing a Phase III clinical trial (REPLATINUM) for small cell lung cancer, with 292 patients planned for enrollment across China and the US[26] Strategic Initiatives - The company is actively seeking potential acquisition targets to support its growth objectives amid financial difficulties faced by global biopharmaceutical companies[7] - The company entered into a licensing and collaboration agreement with A. Menarini Asia-Pacific Holdings Pte. Ltd. for the exclusive development and commercialization of Vaborem in China[5] - The IND application for Vaborem was officially accepted by the National Medical Products Administration in December 2022, with approval granted in March 2023[5] - The company aims to improve operational efficiency by leveraging technology and online platforms to reach more stakeholders at lower costs[11] Shareholder Information - The company declared dividends of RMB 204,545,000 for the year ended December 31, 2022, significantly lower than RMB 776,520,000 declared in 2021, marking a decrease of 73.7%[60] - The board proposed a final dividend of HKD 0.39 per share for the year ended December 31, 2022, compared to HKD 0.35 per share in 2021[79] - A total of 4,976,500 shares were repurchased during the year ended December 31, 2022, with 4,576,500 shares cancelled by that date[84] Corporate Governance - The company has complied with all applicable provisions of the Corporate Governance Code for the year ended December 31, 2022[82] - The board of directors includes various executive and non-executive members, indicating a diverse leadership structure[93]

Financial Performance - Revenue for the six months ended June 30, 2022, reached RMB1,475.1 million, an increase of 10.8% compared to the same period last year[24]. - Gross profit for the first half of 2022 grew to RMB1,134.1 million, representing an 8.4% increase from the first half of 2021[24]. - Net profit decreased to RMB532.2 million after accounting for a fair value loss of RMB80.5 million and an impairment loss of RMB40.3 million[24]. - Core net profit from normal business operations increased by 4.9% to RMB653.0 million compared to the same period in 2021[24]. - Operating cash flow reached RMB523.9 million, up RMB215.6 million or 69.9% from the previous year[24]. - Total revenue for the six months ended June 30, 2022, was RMB 1,475.1 million, representing a 10.8% increase compared to RMB 1,331.3 million in the same period of 2021[84]. - Revenue from proprietary product Zadaxin increased by RMB 77.1 million, or 7.0%, from RMB 1,102.3 million in the previous year to RMB 1,179.4 million in the first half of 2022[86]. - Profit attributable to owners of the Company for the period was RMB 532.2 million, down from RMB 622.7 million in the same period last year, representing a decrease of 14.5%[81]. Operational Highlights - The company is actively seeking merger and acquisition opportunities to support its development goals amid global financial difficulties in the biotech sector[27]. - The "Go-To-Patient" model has enabled the company to connect with more physicians and patients directly through its digital portal[25]. - The company aims to become a leading specialty pharmaceutical company in oncology and serious infections, focusing on unmet medical needs in China[29]. - As of June 30, 2022, the GTP model had over 153,000 registered patients, more than 109,000 registered doctors, and 800 DTP pharmacies[36]. - The sales and marketing team increased to approximately 770 employees as of June 30, 2022, from 720 employees at the end of 2021[33]. - The company has more than 10 ongoing clinical studies in China and overseas (the U.S. and Italy) to explore the potential clinical applications of its marketed products[43]. Research and Development - The product development team consists of 100 members, focusing on targeted therapies, immunotherapies, and enhanced chemotherapy regimens[50]. - The company has developed a pipeline of 9 candidate drugs, with 5 in late-stage clinical trials overseas and a rapid market entry strategy planned for China[50]. - The company is actively involved in the development of pipeline drug candidates through an in-licensing model, acquiring licenses at various stages of product development[52]. - The company has obtained IND approval for the Phase III study of RRx-001 for small cell lung cancer from the NMPA in July 2021[59]. - The company has submitted a BLA to the NMPA for DANYELZA® in July 2021 and obtained IND approval for the combination therapy in June 2022[57]. Market and Product Development - Vaborem® (MEM/VAB) is a fixed dose combination targeting carbapenem-resistant enterobacterales (CRE), which has been recognized as a critical public health threat by the World Health Organization[63]. - DANYELZA® (naxitamab) is a humanized monoclonal antibody targeting GD2, with advantages in administration and patient compliance, requiring only a 30-60 minute infusion time[67]. - The company entered a license and collaboration agreement with A. Menarini Asia-Pacific Holdings Pte. Ltd. to exclusively develop and commercialize Vaborem® (MEM/VAB) in China[62]. - The company is preparing to submit the IND for Vaborem® (MEM/VAB) registration study in China[66]. - DANYELZA® was included in the list of overseas special drugs of Jing Hui Bao, improving accessibility for patients in China[90]. Financial Management - The ratio of total borrowings to total assets remained healthy at 27.8%[27]. - Total cash and cash equivalents amounted to approximately RMB2.6 billion as of June 30, 2022, which is comparable to the company's net assets[27]. - The company continues to maintain prudent capital management and liquidity risk management in its investment strategy[115][118]. - The company resolved not to pay any interim dividend for the six months ended June 30, 2022, consistent with the previous year where no dividend was paid[139]. - The net proceeds from the global offering amounted to approximately HK$2,083.6 million after deducting underwriting commissions and related expenses[143]. Shareholder Information - As of June 30, 2022, the total number of issued shares was 683,518,763[155]. - Li Zhenfu holds 195,104,060 shares, representing approximately 28.54% of the issued share capital[161]. - The company has granted options for 11,256,210 shares and 4,000,000 shares under various incentive plans to Zhao Hong[158]. - The maximum number of shares subject to the Option Incentive Plan is 54,778,710 shares, representing 8.08% of the total number of shares in issue on the Listing Date[187]. - The total outstanding options as of June 30, 2022, were 45,910,442 after accounting for exercised and cancelled options[191].

Financial Performance - For the year ended December 31, 2021, the company's revenue increased by 31.3% to RMB2,518.5 million, marking the highest growth in the past four years, driven by strong sales of its proprietary product Zadaxin and the commercial launch of in-licensed products[20][23]. - The company's gross profit rose to RMB1,933.0 million for the year ended December 31, 2021, up 29.7% from RMB1,490.5 million the previous year[20][23]. - Profit attributable to owners of the company for 2021 was RMB923.4 million, compared to RMB753.7 million in the previous year[20][23]. - The company recorded an operating cash flow of over RMB1 billion for the first time in its history, with a cash balance exceeding RMB2.1 billion at the end of 2021[18]. - Revenue from sales of Zadaxin increased by RMB409.8 million, or 26.1% from RMB1,568.2 million for the last year to RMB1,978.0 million in 2021[112]. - The gross profit for 2021 was RMB1,933.0 million, representing a gross margin of 76.8%, compared to RMB1,490.5 million and 77.7% in 2020[106]. - Operating profit for 2021 was RMB1,058.1 million, accounting for 42.0% of total revenue, compared to RMB834.9 million and 43.5% in 2020[106]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[132]. Market Challenges and Strategies - SciClone Pharmaceuticals achieved outstanding results despite challenging conditions in China's economy and healthcare industry[12]. - The MSCI China Healthcare Index fell nearly 60% from 437.66 on June 28, 2021, to 177.50 on March 15, 2022, marking one of the most brutal crashes in history[13]. - The company acknowledges significant losses faced by public shareholders and expresses regret over their investments[12]. - The rapid decline in biotech valuations from 2015 to post-2020 in China is identified as an obvious bubble in the making[13]. - The company recognizes the importance of reflecting on historical market bubbles and their causes[13]. - The chairman's statement highlights the dual feelings of pride in performance and regret for shareholder losses during a tumultuous market period[12]. - The company emphasizes its commitment to increasing performance and value for shareholders, despite having no control over stock price fluctuations[12]. Product Development and Innovation - Continuous innovation in the business model has been a key focus for the company to enhance its commercialization capabilities[12]. - The company aims to expand its product pipeline and build internal R&D capabilities as part of its strategic goals[18]. - The company is actively seeking partnerships with biotech companies to enhance its product offerings and address challenges in the healthcare industry[18]. - The integrated platform focuses on high-potential therapeutic areas, primarily oncology and severe infections, to meet significant unmet medical needs in China[24]. - The company has over 10 ongoing clinical studies in China and overseas, focusing on various therapeutic areas including oncology and severe infections[32]. - The company has adopted an innovative "Go-To-Patient" (GTP) model to enhance patient experience and integrate value-added services[22]. - The company emphasizes the importance of lifecycle management and ongoing clinical research to sustain the growth of its products[27]. Clinical Studies and Product Launches - A retrospective study involving 5,746 patients showed Tα1 therapy significantly improved the 5-year disease-free survival rate to 77.3% compared to 64.7%[30]. - A propensity score matching analysis of 468 patients indicated Tα1 therapy improved overall survival rate to 55.5% versus 47.2% for solitary hepatitis B virus-related hepatocellular carcinoma[30]. - The company initiated a clinical study on COVID-19 inactivated vaccine combined with Zadaxin, completing 100% patient enrollment[30]. - The company completed 60% patient enrollment for RCT of Tα1 combined with PD-1 antibody and apatinib in advanced gastric cancer[30]. - Total product revenue of Zometa reached RMB169.8 million for the year ended December 31, 2021, compared to RMB4.7 million in the previous year[40]. - DANYELZA® was included in the list of overseas special drugs of Jing Hui Bao, improving accessibility for patients in China[43]. - Oravig, launched in November 2021, is available for purchase in over 30 cities, leveraging existing retail sales channels[44]. - The successful commercialization of Oravig marked the company's capabilities in product development, being the first innovative drug to complete Phase III trials in China[44]. Financial Management and Cost Control - The company reported a decrease in administrative expenses to RMB206.4 million in 2021 from RMB216.2 million in 2020, reflecting a reduction in costs[106]. - The cost of revenue increased by 36.8% to RMB585.5 million in 2021 from RMB428.1 million in the previous year[116]. - Selling and marketing expenses increased by 26.9% to RMB579.2 million for the year ended December 31, 2021, from RMB456.4 million the previous year[120]. - General and administrative expenses decreased by 4.5% to RMB206.4 million for the year ended December 31, 2021, from RMB216.2 million the previous year[120]. - Research and development expenses increased by 78.2% to RMB134.4 million for the year ended December 31, 2021, from RMB75.4 million the previous year[120]. Corporate Governance and Management - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis of its corporate governance practices[159]. - The Board of Directors consists of eleven members, including one executive director, six non-executive directors, and four independent non-executive directors[160]. - The Board held five meetings during the period from the Listing Date to December 31, 2021, with full attendance from key members[161]. - All independent non-executive directors confirmed their independence in accordance with the Listing Rules, ensuring compliance with governance standards[165]. - The Company has maintained compliance with the Listing Rules regarding the appointment of independent non-executive directors, with at least three members representing more than one-third of the Board[165]. - The Company has established a Scientific Advisory Board to support proactive screening for new assets, enhancing product development capabilities[104]. - The management team includes individuals with advanced degrees in relevant fields, such as engineering, finance, and business administration, contributing to the company's operational expertise[150]. Future Outlook and Strategic Goals - The company plans to implement an Internet Hospital Model to enhance patient access to Zadaxin and other products, collaborating with multiple service providers for broader coverage[104]. - The company aims to accelerate its product pipeline by obtaining BLA approval for DANYELZA® and initiating Phase III study of RRx-001 and Phase I/II study of PEN-866[104]. - The company is actively searching for potential acquisition targets to support its goal of becoming a leading specialty pharma in oncology and severe infections[104]. - The outlook for 2022 includes aligning development strategies with government initiatives to build a more innovative and productive economy and healthcare industry[103].