Financial Performance - The company reported a revenue of $100 million for the fiscal year ending December 31, 2021, representing a 20% increase year-over-year[7]. - The company provided guidance for the next fiscal year, projecting a revenue increase of 25% to $125 million[11]. - The company's revenue for the year ended December 31, 2021, was RMB 212.8 million, an increase of approximately 201.5% compared to RMB 70.6 million for the year ended December 31, 2020[48]. - Gross profit for the year ended December 31, 2021, was RMB 154.6 million, with a gross margin of 72.7%, compared to RMB 37.2 million and a gross margin of 52.8% for the year ended December 31, 2020[54]. - Other income increased by approximately 142.2% to RMB 227 million in 2021, compared to RMB 94 million in 2020, primarily due to increased bank interest income from global offerings[58]. - The company experienced a significant increase in consumer health awareness, contributing to the growth in sales and revenue for both Changweiqing and Pupu Tube[45]. - The company reported total assets of RMB 2,353.9 million and total liabilities of RMB 227.2 million for the year 2021[20]. - The net loss for the year 2021 was RMB 3,085.3 million, with adjusted net loss of RMB 285.2 million[20]. Product Development and Innovation - New product launches included a non-invasive cervical cancer screening test, which is expected to capture a significant market share[13]. - The company is investing in proprietary multi-omics platforms to optimize pipeline candidates for future commercialization[23]. - The self-testing diagnostic test, 幽幽管, received approval as a Class III medical device in January 2022 and is set for commercial launch[22]. - The company aims to expand its research and development platform and product pipeline through various business development activities, including the establishment of NHH Venture Fund[23]. - The proprietary non-invasive multi-target FIT-DNA test, Chang Wei Qing, is the first and only cancer screening molecular test approved by the National Medical Products Administration (NMPA) for 120 million high-risk individuals in China, achieving a sensitivity of 95.5% and specificity of 87.1%[27][29]. - The company is developing a multi-omics liquid biopsy liver cancer screening test, with expected sensitivity and specificity significantly higher than traditional AFP blood tests, aiming to initiate a prospective multi-center clinical trial between Q4 2022 and Q1 2023[34]. - The company has established a comprehensive cancer screening molecular platform with integrated R&D, clinical development, testing operations, and commercialization capabilities[26]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market penetration by 2023[9]. - A strategic partnership was established with a leading healthcare provider to improve distribution channels[13]. - The company aims to increase market penetration of its products, including Changweiqing, Pupu Tube, and Youyou Tube, to solidify its leadership in the colorectal cancer screening market in China[78]. - The company plans to enhance cancer screening awareness through partnerships with hospitals and clinical doctors, aiming to improve participation rates in cancer check-ups[75]. - The company plans to strategically expand its market presence through partnerships and acquisitions, focusing on products with significant market potential and cutting-edge technologies[83]. Research and Development - Research and development expenses increased by 10%, totaling $10 million, focusing on innovative diagnostic technologies[11]. - The company plans to expand its R&D capabilities and product pipeline, focusing on developing screening tests for various cancer types, including cervical cancer, with a clinical trial for the cervical cancer screening product scheduled to start in 2022[79]. - The company has a strong commitment to research and development, with a focus on innovative cancer screening solutions[109]. Financial Management and Costs - Sales and marketing expenses surged by approximately 316.7% to RMB 271.4 million in 2021, up from RMB 65.1 million in 2020, driven by higher employee and promotional costs[59]. - Research and development expenses rose by approximately 132.5% to RMB 58.9 million in 2021, compared to RMB 25.3 million in 2020, mainly due to increased employee costs and clinical trial expenses[60]. - Administrative expenses increased by approximately 42.1% to RMB 109.3 million in 2021, up from RMB 77.0 million in 2020, attributed to wage growth and an increase in employee numbers[63]. - The company has zero unsecured bank loans as of December 31, 2021, down from RMB 20 million as of December 31, 2020, which were fully repaid in March 2021[71]. Corporate Governance and Management - The management team includes experienced founders, with Dr. Chen Yiyou serving as Chairman and Chief Scientific Officer since June 2018, and Mr. Zhu Yeqing as CEO since June 2018[106]. - The Chief Financial Officer, Mr. Gao Yu, has over 15 years of experience in the healthcare industry, focusing on private equity investments and mergers and acquisitions[106]. - The company has expanded its board with experienced professionals from various sectors, enhancing its strategic capabilities[99]. - The company has a commitment to ensuring compliance with corporate governance through its independent non-executive directors[101]. Shareholder and Equity Information - The company does not recommend the distribution of a final dividend for the year ended December 31, 2021[111]. - The company adopted a pre-IPO equity incentive plan on October 10, 2018, which was further revised and approved on August 17, 2020[161]. - The maximum number of shares that may be delivered under the pre-IPO equity incentive plan is capped at 31,686,768 shares, representing approximately 7.37% of the total issued share capital as of December 31, 2021[167]. - As of December 31, 2021, a total of 28,113,326 share options were granted, with 20,322,932 options exercised[169]. Risk Management and Compliance - Risks associated with the contractual arrangements include potential penalties from the Chinese government if deemed non-compliant with laws, and uncertainties regarding the interpretation of the Foreign Investment Law[149]. - The group has implemented measures to ensure compliance with contractual arrangements, including reporting significant issues to the board and annual reviews by independent non-executive directors[151]. - The independent auditor, Deloitte, issued an unqualified opinion on the ongoing connected transactions, confirming compliance with the relevant agreements[156].

Financial Performance - The company reported a revenue of $XX million for the first half of 2021, representing a YY% increase compared to the same period last year[7]. - For the six months ended June 30, 2021, revenue was RMB 439 million, an increase of 317% compared to RMB 105 million for the same period in 2020[14]. - The company's revenue for the six months ended June 30, 2021, was RMB 439.31 million, a 317% increase compared to RMB 105.26 million for the same period in 2020[37]. - The revenue from the "Pupu Tube" product line reached RMB 29,569 thousand, up from RMB 4,086 thousand in the previous year, reflecting a growth of 624.5%[133]. - The company reported a net loss attributable to shareholders of RMB 2,891,805 thousand for the six months ended June 30, 2021, compared to a loss of RMB 552,949 thousand for the same period in 2020, representing an increase in loss of approximately 423%[141]. - The company reported a loss before tax of RMB (2,891,805,000), compared to a loss of RMB (552,763,000) in the previous year, indicating a substantial increase in losses[124]. - Basic and diluted loss per share for the period was RMB (8.58), compared to RMB (4.74) in the prior year[124]. - The company incurred a fair value loss on preferred shares amounting to RMB 2,757,028 thousand for the six months ended June 30, 2021, compared to a loss of RMB 484,824 thousand in the same period of 2020, reflecting a substantial increase in losses[138]. Product Development and Innovation - New product development includes the launch of the non-invasive FIT-DNA testing device, which is expected to contribute significantly to revenue in the upcoming quarters[5]. - The company is developing You You Guan, a self-testing gastric cancer screening test, and Gong Zheng Qing, a non-invasive urine-based cervical cancer screening test, both in advanced stages of development[18]. - The company has focused on R&D for screening products related to colorectal cancer and cervical cancer, indicating ongoing investment in new product development[129]. - The company aims to innovate and accelerate cancer screening technologies in China and globally, addressing significant unmet medical needs[18]. Market Expansion and Strategy - The company is expanding its market presence in China, with plans to open additional laboratories in key cities, aiming to increase testing capacity by CC%[11]. - A strategic acquisition was announced, which is expected to enhance the company's product portfolio and market reach, with an estimated value of $DD million[9]. - The company plans to further develop the cancer screening market in China, aiming for a 5-year cancer survival rate of at least 43.3% by 2022 and 46.6% by 2030[69]. - The company intends to selectively pursue geographic expansion, strategic partnerships, and acquisition opportunities to enhance its product portfolio and market coverage[74]. Research and Development - Research and development expenses increased by FF%, indicating a commitment to innovation and product improvement[11]. - The company has been focused on R&D since 2015, building a comprehensive proprietary database on colorectal cancer methylation patterns specific to Asia[27]. - The internal R&D team is primarily based in Beijing and Hangzhou, with over 72% of members holding master's or doctoral degrees[28]. - The company plans to expand its R&D capabilities by recruiting more experts and collaborating with renowned academic and medical institutions[72]. Partnerships and Collaborations - The management emphasized the importance of partnerships with key opinion leaders to drive product adoption and market penetration[11]. - The company established strategic partnerships with major players like AstraZeneca and JD Health to increase awareness and penetration of its products in the clinical and consumer markets[15]. - The company has entered into strategic partnerships with various organizations, including AstraZeneca, to promote 常衛清 in public hospitals and pharmacies[32]. Financial Position and Capital Structure - As of June 30, 2021, the company's cash and cash equivalents, including bank deposits, amounted to RMB 2,241.9 million, an increase of 285.0% from RMB 582.3 million as of December 31, 2020[61]. - The debt-to-asset ratio as of June 30, 2021, was 7.7%, a significant decrease of 225.5% from 233.2% as of December 31, 2020[63]. - The total capital expenditure for the six months ended June 30, 2021, was approximately RMB 13.6 million, primarily for the purchase of property and equipment[65]. - The company reported a total of RMB 26,909,000 in trade and other payables, a decrease of 33.1% from RMB 40,236,000 as of December 31, 2020[149]. Shareholder Information - As of June 30, 2021, the total number of issued shares was 429,440,686[87]. - The company’s CEO holds a beneficial interest in 13,053,070 shares, representing approximately 3.04% of the total shares[87]. - The largest shareholder, 恒泰信託（香港）有限公司, holds 78,814,606 shares, representing 18.35% of total shares[95]. - The company did not declare an interim dividend for the six months ended June 30, 2021[78]. Corporate Governance - The company is committed to maintaining high corporate governance standards to protect shareholder interests and enhance corporate value[76]. - The company has confirmed compliance with the standard code of conduct for securities trading among its directors and senior management[77].

Financial Performance - New Horizon Health reported a revenue of approximately HKD 200 million for the fiscal year ending December 31, 2020, representing a year-on-year growth of 25%[10]. - The company reported a total revenue of RMB 70,567 thousand for the year 2020, representing a significant increase from RMB 58,275 thousand in 2019, which is a growth of approximately 21%[16]. - The company's revenue for the year ended December 31, 2020, was RMB 706 million, an increase of approximately 21.1% compared to RMB 583 million for the year ended December 31, 2019[41]. - The revenue from Chang Wei Qing for the year ended December 31, 2020, was RMB 376 million, a decrease from RMB 391 million in 2019, primarily due to the impact of COVID-19[42]. - The revenue from Pu Pu Guan for the year ended December 31, 2020, was RMB 318 million, an increase from RMB 151 million in 2019[42]. - The gross profit for the year ended December 31, 2020, was RMB 372 million, with a gross margin of 52.8%, down from a gross profit of RMB 343 million and a margin of 58.9% in 2019[47]. - The adjusted net loss for the year ended December 31, 2020, was RMB 168 million, compared to an adjusted net loss of RMB 124 million for the year ended December 31, 2019[64]. - The company reported a net loss of RMB 788 million for the year ended December 31, 2020, compared to a net loss of RMB 106 million for the year ended December 31, 2019[64]. Product Development and Innovation - The company has developed a non-invasive urine cervical cancer home screening test, which is expected to enhance its product portfolio and market reach[12]. - New Horizon Health aims to invest HKD 50 million in research and development for new technologies and products in the upcoming year[10]. - The company is focused on expanding its product offerings in non-invasive cancer screening technologies, addressing significant market needs in China[29]. - The company is developing a urine-based self-testing cervical cancer screening test, Gong Zheng Qing, with registration trials expected to start by the end of Q4 2021[22]. - The company has established a comprehensive proprietary database on colorectal cancer methylation patterns specific to Asia over more than five years of R&D[30]. - The company is focused on innovation in product development to meet the evolving needs of the healthcare market[99]. Market Expansion and Strategy - New Horizon Health plans to expand its market presence in China, targeting a 30% increase in user adoption for its core products over the next fiscal year[10]. - The company is exploring potential mergers and acquisitions to enhance its capabilities and market share in the healthcare sector[12]. - The company plans to accelerate commercialization efforts in the clinical and health check markets in 2021, focusing on the development of its cancer screening pipeline[19]. - The company plans to enhance market penetration of its colorectal cancer screening products, Changweiqing and Pupu Tube, leveraging its unique position as the first and only approved molecular cancer screening test in China[71]. - The company intends to increase awareness of cancer screening through collaborations with key opinion leaders and clinical doctors, as well as through public health initiatives[69]. - The company plans to selectively expand its geographical reach, pursue strategic partnerships, and explore acquisition opportunities to maximize the global value of its products[75]. Regulatory Approvals and Compliance - The company has received regulatory approval for its proprietary IVD reagent kits, which are crucial for its core product testing procedures[12]. - The flagship colorectal cancer screening test, Chang Wei Qing, received approval from the National Medical Products Administration in November 2020, targeting a high-risk population of 120 million in China[17]. - Changweiqing IVD received NMPA approval as a Class III medical device in November 2020, marking it as the first and only molecular cancer screening test approved in China[25]. - The risk assessment algorithm for Changweiqing was registered as a Class II medical device in November 2020, enhancing the product's diagnostic capabilities[25]. Financial Position and Investments - Total assets increased to RMB 818,044 thousand in 2020, up from RMB 546,366 thousand in 2019, marking a growth of approximately 49.6%[16]. - As of December 31, 2020, the company's cash and cash equivalents amounted to RMB 451.8 million, an increase of approximately 30.4% from RMB 346.4 million as of December 31, 2019[66]. - The company's debt-to-asset ratio as of December 31, 2020, was 233%, an increase of 66% from 167% as of December 31, 2019[68]. - The net proceeds from the global offering amount to approximately HKD 2,190.5 million, which will be allocated as follows: 40% for commercialization and further development of Changweiqing, 5% for ongoing sales and marketing of the Pupu tube, 30% for R&D of early-stage pipeline products, 15% for potential acquisitions in cancer screening, and 10% for working capital and general corporate purposes[112]. Corporate Governance and Management - The company has a strong leadership team with founders Dr. Chen Yiyou and Mr. Zhu Yeqing serving as Chairman and CEO respectively since June 2018[99]. - The company has established a robust financial leadership structure with experienced executives from various sectors[99]. - The company has a diverse board of independent directors with extensive experience in finance and healthcare[96][97]. - The company is committed to high standards of corporate governance and has adhered to all applicable code provisions during the relevant period[194]. Challenges and Risks - The company faces significant risks including the ability to develop and commercialize cancer screening solutions, particularly for high-risk populations in China[196]. - The regulatory approval process for the company's candidate cancer screening solutions is lengthy, time-consuming, and unpredictable[198]. - Risks associated with the contractual arrangements include potential penalties from the Chinese government if deemed non-compliant with applicable laws[137].