Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 419.7 million, an increase of 11.2% compared to RMB 377.5 million for the same period in 2023[2]. - Gross profit for the same period was RMB 359.6 million, with a gross margin of 85.7%, up from 79.9% in the previous year[2][3]. - The net loss for the six months ended June 30, 2024, was RMB 268.0 million, a reduction of 37.6% from RMB 429.2 million in the prior year[3][5]. - Adjusted net loss for the period was RMB 242.99 million, compared to RMB 206.26 million in the same period of 2023[5]. - The company reported a basic and diluted loss per share of RMB 0.16 for the six months ended June 30, 2024, compared to RMB 0.25 for the same period in 2023[153]. - The company incurred a loss before tax of RMB 267,923 thousand for the six months ended June 30, 2024, an improvement from a loss of RMB 429,184 thousand in the same period of 2023[153]. - The company reported a loss attributable to equity holders of RMB (261,840) thousand for the six months ended June 30, 2024, an improvement from a loss of RMB (422,211) thousand in 2023[184]. Research and Development - Total operating expenses increased by 5.2% to RMB 669.5 million, driven by a rise in R&D expenses to RMB 420.8 million, reflecting increased investment in technology platform innovation and clinical trials[3]. - R&D expenses for the six months ended June 30, 2024, were RMB 420,822 thousand, compared to RMB 358,130 thousand in the prior year, showing an increase in investment in innovation[153]. - The company is developing drugs targeting B cell signaling and T cell pathway abnormalities for autoimmune diseases[10]. - The company is actively pursuing the development of new candidates targeting T-cell mediated autoimmune diseases, with promising early results for ICP-332 and ICP-488[21]. - The company is developing multiple drugs targeting key hematological malignancy targets, including BCL-2, CD20×CD3, and E3 ligase[28]. Product Development and Clinical Trials - The company plans to accelerate clinical development and invest in competitive product lines, supported by a strong cash position[3]. - The company has completed patient recruitment for a Phase II registration trial for relapsed/refractory mantle cell lymphoma (MCL) in the U.S., with NDA submission plans under discussion[8]. - The company is conducting a Phase III registration trial in China for MCD subtype diffuse large B-cell lymphoma (DLBCL), comparing Acalabrutinib combined with R-CHOP against R-CHOP alone[8]. - The company has initiated a Phase II registration trial for ICP-723 in adult and adolescent patients with NTRK gene fusion-positive advanced solid tumors in mainland China, achieving an observed overall response rate (ORR) of 80-90%[16]. - The company is conducting a Phase III study evaluating the efficacy and safety of obinutuzumab combined with R-CHOP for treating newly diagnosed DLBCL patients with the MCD subtype, currently recruiting patients at 44 clinical trial centers in China[36]. Market and Sales Performance - Revenue from the drug Orelabrutinib increased by 48.8% in Q2 2024, contributing significantly to overall revenue growth[2]. - In the first half of 2024, the company's core product, Acalabrutinib (Obinutuzumab), generated revenue of RMB 417.0 million, a 30.0% increase from RMB 320.7 million in the same period of 2023[6]. - The company aims to leverage single and combination therapies to treat various hematological malignancies, positioning itself as a leader in the global hematological oncology field[6]. - The company is focused on expanding its market coverage and optimizing sales operations to enhance market penetration and increase revenue from Acalabrutinib[6]. - The company anticipates continued strong sales growth in the second half of 2024, supported by its enhanced commercialization capabilities and expanding product portfolio[18]. Financial Position and Assets - Cash and cash equivalents as of June 30, 2024, were approximately RMB 7.99 billion, providing flexibility for clinical development and investment in competitive product lines[3]. - Net current assets amounted to RMB 5,959.0 million as of June 30, 2024, primarily due to cash and bank balances of RMB 6,903.7 million and trade receivables of RMB 280.7 million[112]. - The company's total equity as of June 30, 2024, was RMB 6,938,479 thousand, down from RMB 7,180,705 thousand, reflecting a decrease of approximately 3.4%[158]. - The total amount raised from the issuance of RMB shares was approximately RMB 2,778.82 million, with a significant portion allocated for new drug research and development[151]. - The company has a bank credit line of RMB 400.0 million, of which RMB 43.9 million has been drawn as of June 30, 2024[130]. Corporate Governance and Compliance - The company has established an audit committee consisting of one non-executive director and two independent non-executive directors to oversee financial reporting and internal controls[145]. - The company will continue to review and monitor corporate governance practices to ensure compliance with the corporate governance code[140]. - The company has not made any significant investments or acquisitions as of June 30, 2024, and holds no major investments[128]. - There were no significant litigations or arbitrations involving the company during the reporting period[146]. Future Outlook - The company plans to submit a Biologics License Application (BLA) for the combination of Tanxiaotai monoclonal antibody and Lenalidomide for adult patients with relapsed refractory DLBCL by mid-2025[20]. - The company plans to initiate Phase III trials for ICP-332 in atopic dermatitis in Q4 2024 and has received IND approval from the FDA for further studies[12]. - The company is exploring the use of Aobutinin for various autoimmune diseases, with ongoing trials for systemic lupus erythematosus (SLE) and other indications[21]. - The company plans to explore the combination of ICP-B05 with other immunotherapies across various cancer indications after collecting safety data[53]. - The company is actively seeking licensing and clinical collaboration opportunities to enhance its pipeline and operational efficiency[23].

[Table_QuotePic] 相对指数表现 -5 0% -4 0% -3 0% -2 0% -1 0% 0% 10% 20% 23-0723-0823-0923-1023-1123-1224-0124-0224-0324-0424-0524-06 [Table_StockInfo] 2024 年 06 月 28 日 证券研究报告•公司研究报告 买入 (首次) 当前价:4.82 港元 诺诚健华(9969.HK)医疗保健 目标价:7.30 港元 商业化渐入佳境,多款药物处于关键性临床 投资要点 推荐逻辑:1)商业化渐入佳境,公司 2023 年收入 7.3 亿元,随着奥布替尼续 约医保,MZL 适应症的放量,我们预计公司 2024年收入达 8.7亿元;2)奥布 替尼自免适应症进展顺利,ITP 预计 2025年提交 NDA,SLE 处于临床Ⅱ期;3) TYK2 抑制剂国内研发第一梯队,且数据良好,BMS 预计氘可来昔替尼峰值销 售额达 40 亿美元,Nimbus 的 zasocitinib 以 40 亿美元首付款授权武田。 奥布替尼三项肿瘤适应症落地,自免适应症进展顺利。奥布替尼全面布局血液 肿瘤和自身免疫病,共 ...

Investment Rating - The report maintains a "Buy" rating for the company [5]. Core Views - The BLA application for Tafasitamab has been accepted by NMPA and is prioritized for review, showing excellent efficacy and good safety, indicating strong potential for market growth [3][4]. - Tafasitamab is expected to achieve peak sales exceeding 1 billion RMB, with a promising outlook for the company's oncology and autoimmune pipeline [4]. - The sales of Acalabrutinib are anticipated to accelerate in 2024, with three indications entering medical insurance and being included in clinical guidelines, which is expected to extend treatment duration [4]. Summary by Sections Company Overview - The report discusses the acceptance of the BLA application for Tafasitamab in treating r/r DLBCL, highlighting its efficacy with a median overall survival (mOS) of 33.5 months compared to the current mOS of 5-12 months for existing treatments [4]. Financial Projections - The company is projected to achieve revenues of 1.25 billion RMB in 2024, with a growth rate of 28% [7]. - Acalabrutinib is expected to generate sales of 671 million RMB in 2023, with revenue growth exceeding 30% in 2024 [4]. Pipeline Development - The report outlines several key developments in the company's pipeline, including: - The initiation of Phase III trials for ICP332 in 2024Q3 and the start of a Phase II trial for vitiligo in China [4]. - The completion of patient enrollment for ICP488 in psoriasis, with data readout expected by the end of 2024 [4]. - The advancement of ICP-723 for late-stage solid tumors, with NDA submission anticipated by the end of 2024 [4]. Market Context - The report notes that DLBCL accounts for 31%-34% of NHL globally and 46% in China, indicating a significant market opportunity for Tafasitamab [4].

股 票 研 究 [Table_industryInfo] 医药 [ Table_Main[诺I Tnaf 诚bol]e 健_Ti华tle]（ 9969） [评Tab级le_：Inv est] 增持 当前价格（港元）： 5.13 业绩符合预期，奥布替尼全年有望高增长 2024.05.16 海 ——诺诚健华2024 年一季报点评 [ 交Ta易bl数e_M据a rket] 外 丁丹(分析师) 甘坛焕(分析师) 52周内股价区间（港元） 4.06-9.29 当前股本（百万股） 1,763 公 0755-23976735 021-38675855 当前市值（百万港元） 9,042 司 dingdan@gtjas.com gantanhuan028803@gtjas.com 证书编号 S0880514030001 S0880523080007 （ [ Table_PicQuote] 中 本报告导读： 52周内股价走势图 国 2024Q1奥布替尼营收1.64亿元（+9%），血液瘤、自免、实体瘤临床进展顺利，2024 诺诚健华 恒生指数 香 年多款药物有望提交NDA，看好公司未来发展，维持“增持”评级。 摘要： 4% 港 - ...

Financial Performance - In the first quarter of 2024, the company achieved a total revenue of RMB 165.82 million, a decrease of 12.44% year-on-year[8] - Sales revenue from the core product, Oubatinib (Yinokai®), reached RMB 164.80 million, representing a year-on-year growth of 8.87%[8] - The gross profit margin for the first quarter of 2024 was 85.4%, an increase of 8.1 percentage points compared to 77.3% in the same period last year[7] - The company reported a net loss attributable to shareholders of RMB 142.40 million for the first quarter[8] - Total revenue for Q1 2024 was ¥165,824,020.34, a decrease of 12.43% compared to ¥189,387,628.40 in Q1 2023[20] - Net loss for Q1 2024 was ¥145,660,375.68, compared to a net loss of ¥14,229,365.40 in Q1 2023, indicating a substantial decline in profitability[20][21] - The company's basic earnings per share for Q1 2024 was -¥0.08, compared to -¥0.01 in Q1 2023, highlighting a deterioration in earnings performance[21] Research and Development - Research and development expenses totaled RMB 177.73 million, accounting for 107.18% of total revenue, an increase of 32.75 percentage points year-on-year[8] - Research and development expenses rose to ¥177,728,720.87, an increase of 26.06% from ¥140,950,687.03 in Q1 2023, reflecting a focus on innovation[20] Cash Flow and Liquidity - The company experienced a net cash outflow from operating activities of RMB 84.04 million in the first quarter[8] - Cash flow from operating activities showed a net outflow of ¥84,043,543.78, improving from a larger outflow of ¥154,802,409.78 in Q1 2023[23] - Cash and cash equivalents at the end of Q1 2024 totaled ¥4,616,481,748.24, up from ¥3,993,788,388.71 at the end of Q1 2023, indicating improved liquidity[23] - The company reported a significant increase in cash inflow from investment activities, totaling ¥502,674,850.75, compared to a net outflow of ¥1,915,385.25 in Q1 2023[23] - As of March 31, 2024, the company held cash and cash equivalents of approximately RMB 8.2 billion[7] - The company's cash and cash equivalents as of March 31, 2024, amount to ¥8,201,839,334.55, a decrease from ¥8,287,136,644.81 as of December 31, 2023[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 17,655[12] - The total number of issued shares is 1,762,582,452, with 1,497,934,235 shares (approximately 84.99%) issued in Hong Kong and 264,648,217 shares (approximately 15.01%) issued on the Shanghai Stock Exchange[12] - The top shareholder, HKSCC NOMINEES LIMITED, holds 730,634,157 shares, representing 41.44% of the total shares[14] - The second-largest shareholder, HHLR Fund, L.P. and its concerted actors, holds 208,671,222 shares, accounting for 11.84%[14] - The company has not disclosed any significant changes in shareholder relationships or concerted actions among the top shareholders[15] Assets and Liabilities - The total assets decreased to ¥9,766,283,263.59 from ¥9,919,995,852.46 in the previous quarter, reflecting a reduction in overall company size[19] - The total liabilities decreased slightly to ¥2,712,214,039.61 from ¥2,739,290,198.68, indicating a minor improvement in the company's debt position[19] - Accounts receivable decreased to ¥232,958,854.23 from ¥276,377,549.08 over the same period[18] - Total current assets decreased to ¥8,620,713,615.47 from ¥8,765,324,062.77[18] - Non-current assets totaled ¥1,145,569,648.12, down from ¥1,154,671,789.69[18] - The company reported a decrease in long-term equity investments from ¥5,660,187.95 to ¥4,320,662.46[18] Accounting and Reporting - The company has adopted new accounting standards starting from 2024, impacting the financial statements from the beginning of the year[24] - The financial report is presented by Jisong Cui, the head of the company, along with key accounting personnel[24] - The report indicates that the company is not applicable for the new accounting standards or interpretations[24] - The announcement was made by the board of directors of the company on May 13, 2024[24] - The document contains a total of 14 pages, indicating a comprehensive report[24] - The company is focused on ensuring the accuracy of financial reporting under the new standards[24] - There are no specific performance metrics or user data provided in this document[24] - Future outlook and performance guidance are not detailed in this report[24] - No information on new products, technologies, market expansion, or mergers and acquisitions is included[24] - The report does not provide any financial figures or percentage changes[24] Product Information - Oubatinib is the first and only BTK inhibitor approved for the MZL indication in China, listed as a Class I recommendation in the CSCO lymphoma treatment guidelines[7]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 25% year-over-year growth[2]. - Total revenue increased by 18.1% from RMB 625.4 million in 2022 to RMB 738.5 million in 2023, primarily driven by the rapid growth in sales of Obinutuzumab[50]. - Gross profit rose by 26.6% from RMB 482.0 million in 2022 to RMB 610.1 million in 2023, with a gross margin of 82.6%, up from 77.1% in the previous year[51]. - Net loss decreased by 27.8% from RMB 893.7 million in 2022 to RMB 645.6 million in 2023[52]. - Other income and gains rose from RMB 198.2 million in 2022 to RMB 244.2 million in 2023, largely due to an increase in bank interest income[51]. - Total expenses decreased from RMB 1,550.5 million in 2022 to RMB 1,404.3 million in 2023, attributed to improved operational efficiency[51]. - Cash and bank balances as of December 31, 2023, were approximately RMB 8.22 billion, providing flexibility for clinical development and investment in competitive product lines[52]. Market Expansion and Product Development - The company provided guidance for the next fiscal year, projecting revenue growth of 20% to reach between $600 million and $720 million[2]. - The company is expanding its market presence in Europe, targeting a 15% market share by the end of the next fiscal year[2]. - New product launches included two innovative therapies, expected to contribute an additional $100 million in revenue over the next year[2]. - The company aims to establish leadership in the hematological oncology field through a robust pipeline and strategic drug development initiatives[30]. - The company plans to invest $50 million in digital marketing to enhance customer engagement and drive sales growth[2]. Research and Development - Research and development expenses increased to $80 million, accounting for 16% of total revenue, reflecting the company's commitment to innovation[2]. - The company has a strong pipeline with 13 valuable drug candidates, including 2 commercialized products and over 30 ongoing global trials at various clinical stages[29]. - The company is focused on advancing research in B-cell and T-cell pathways for autoimmune diseases, aiming to address unmet clinical needs[60]. - The company is actively developing new technologies such as PROTAC, XDC, and molecular glue to enhance its drug development capabilities[129]. Clinical Trials and Approvals - The company received regulatory approval for its lead drug candidate, which is expected to launch in Q3 of the next fiscal year[2]. - The new drug application for relapsed refractory marginal zone lymphoma (MZL) was approved in April 2023, making it the first and only approved BTK inhibitor for this indication in China[31]. - The company successfully completed patient recruitment for a Phase III registration trial for CLL/SLL first-line treatment in the first half of 2023, with NDA submission expected in the second half of 2024[31]. - The company is conducting a Phase III clinical trial for MCD subtype DLBCL, comparing Obinutuzumab combined with R-CHOP to R-CHOP alone, with patient recruitment ongoing at 45 clinical centers in China[32]. Strategic Acquisitions and Collaborations - The company announced a strategic acquisition of a biotech firm for $200 million, aimed at enhancing its product pipeline[2]. - The company is collaborating with ArriVent Biopharma to evaluate the combination therapy of ICP-189 with furmonertinib for advanced non-small cell lung cancer patients[125]. Financial Position and Investments - The company has a strong cash position with a total cash balance of RMB 8.2 billion at year-end, providing financial stability and flexibility[57]. - The company has completed the second phase of construction at its Guangzhou facility, adding 30,000 square meters to support ongoing drug development and business expansion[130]. - The company has a bank credit line of RMB 400 million, of which RMB 33.8 million has been drawn down, leaving RMB 366.2 million undrawn[174]. Governance and Management - The company has a strong board with members possessing extensive experience in the pharmaceutical and biotechnology industries, including investment management and academic leadership[185]. - The board's composition reflects a commitment to governance and oversight, with members serving on various committees such as audit, compensation, and nomination[185]. - The management team has a strong background in drug discovery and development, with over 30 years of experience in the pharmaceutical industry[189]. Future Outlook - The company aims to become a global leader in biopharmaceuticals by leveraging its robust R&D capabilities and diverse drug portfolio[192]. - The company plans to commercialize multiple innovative drugs in the coming years, enhancing global patient access to its therapies[61].

股 票 研 究 [Table_industryInfo] 医药 [ Table_Main[诺I Tnaf 诚bol]e 健_Ti华tle]（ 9969） [评Tab级le_：Inv est] 增持 当前价格（港元）： 4.84 业绩符合预期，多产品即将提交 NDA 2024.04.07 海 ——诺诚健华2023 年报点评 [ 交Ta易bl数e_M据a rket] 外 丁丹(分析师) 甘坛焕(分析师) 52周内股价区间（港元） 4.65-10.26 当前股本（百万股） 1,763 公 0755-23976735 021-38675855 当前市值（百万港元） 8,531 司 dingdan@gtjas.com gantanhuan028803@gtjas.com 证书编号 S0880514030001 S0880523080007 （ [ Table_PicQuote] 中 本报告导读： 52周内股价走势图 国 2023 年奥布替尼营收 6.71 亿元（+18.5%），血液瘤、自免、实体瘤临床进展顺利， 诺诚健华 恒生指数 香 2024年多款药物有望提交 NDA，看好公司未来发展，维持“增持”评级。 25% 摘 ...

Financial Performance - Total revenue increased by 18.1% from RMB 625.4 million in 2022 to RMB 738.5 million in 2023, primarily driven by the strong sales growth of Oubatinib[3]. - Gross profit rose by 26.6% from RMB 482.0 million in 2022 to RMB 610.1 million in 2023, with a gross margin of 82.6%, up from 77.1% in the previous year[4]. - Net loss decreased by 27.8% from RMB 893.7 million in 2022 to RMB 645.6 million in 2023, reflecting improved operational efficiency[5]. - Total expenses decreased from RMB 1,550.5 million in 2022 to RMB 1,404.3 million in 2023, driven by improved operational efficiency[5]. - Other income and gains rose from RMB 198.2 million in 2022 to RMB 244.2 million in 2023, mainly due to increased bank interest income[5]. - The company reported a total comprehensive loss of RMB 532.09 million for the year ended December 31, 2023, compared to RMB 464.28 million in 2022[169]. Cash and Assets - Cash and bank balances stood at RMB 8,224.6 million as of December 31, 2023, down from RMB 8,697.9 million in 2022[3]. - The net current assets amounted to RMB 6,671.3 million as of December 31, 2023, down from RMB 7,224.3 million[121]. - Trade receivables increased from RMB 127.8 million to RMB 307.6 million, a rise of 140.3%[123]. - As of December 31, 2023, the company's inventory increased to RMB 119.1 million from RMB 65.3 million as of December 31, 2022, indicating a growth of approximately 82.5%[126]. - The company's cash and bank balances decreased from RMB 8,697.9 million to RMB 8,224.6 million, a decline of about 5.4%[138]. Research and Development - Research and development expenses increased to RMB 751.2 million in 2023 from RMB 639.1 million in 2022, indicating ongoing investment in product development[5]. - The company is focused on strategic investments in clinical development and competitive product lines to enhance future growth prospects[5]. - The company aims to establish leadership in the hematological oncology field with a robust pipeline of 13 valuable drugs, including two commercialized products[8]. - The company is advancing multiple candidates in the IND preparation stage and is actively seeking licensing and clinical collaboration opportunities to enhance its pipeline[27]. Clinical Trials and Approvals - The new drug application for relapsed refractory marginal zone lymphoma (MZL) was approved in April 2023, making it the first and only approved BTK inhibitor for this indication in China, with an overall response rate (ORR) of 58.9%[10]. - The company successfully completed patient recruitment for the Phase III registration trial for CLL/SLL first-line treatment in the first half of 2023, with plans to submit the NDA in the second half of 2024[11]. - ICP-248, a new oral BCL-2 inhibitor, is currently in a Phase I dose escalation trial, with preliminary results showing an ORR of 100% in evaluable patients at a 100 mg QD dose[12]. - The company plans to submit a New Drug Application (NDA) for Tafasitamab combined with Lenalidomide in Q2 2024, with expectations for NDA approval in H1 2025[51]. Market and Sales - The sales of Oubatinib increased by 18.5% from RMB 565.9 million in 2022 to RMB 670.7 million in 2023, contributing significantly to revenue growth[3]. - The inclusion of Acalbrutinib in the National Reimbursement Drug List (NRDL) without price reduction is anticipated to further boost sales[10]. - Following the inclusion of its product in the national medical insurance catalog, the company expects strong sales momentum for its drug, Aobutinin (Ibrutinib), in China[23]. - Revenue from mainland China was RMB 673,134 thousand, up 18.5% from RMB 568,035 thousand in 2022[187]. Corporate Governance and Compliance - The audit committee has reviewed the audited consolidated financial statements for the year ended December 31, 2023, ensuring compliance with accounting policies and internal controls[159]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, with no reported violations by employees during the reporting period[154]. - The company plans to continue reviewing its corporate governance structure to ensure compliance with the corporate governance code[153]. Future Outlook - The company aims to establish leadership in the hematological oncology field, focusing on the comprehensive market coverage of multiple myeloma (MM) and non-Hodgkin lymphoma (NHL)[23]. - The company is optimistic about Orelabrutinib's potential as a best-in-class BTK inhibitor for MS and other autoimmune diseases, with ongoing clinical trials showing promising results[76]. - The company plans to expand its product line and enhance commercialization and production capabilities in 2024, marking a transition to a new phase of development[22].

InnoCare Pharma (09969) FY 2024 Conference January 10, 2024 12:30 PM ET Speaker0 Good morning, ladies and gentlemen. Welcome to the forty second Annual JPMorgan Healthcare Conference. I'm Luisa from JPM China Healthcare Investment Banking team. And today, it will be my honor to introduce Doctor. Jasmine Tui, Founder and President of Innocare, to give a company presentation on the latest development and highlights. Innocare is a commercial stage biopharma dedicated to developing innovative drugs for cancer a ...

Financial Performance - InnoCare Pharma achieved a revenue of HKD 537 million for the first nine months of 2023, representing a year-on-year growth of 21.7%[14] - The adjusted net loss for the first nine months of 2023 was HKD 322 million, while the total net loss was HKD 539 million, a reduction of HKD 304 million compared to the same period last year[14] - The company's operating revenue for the reporting period was RMB 159.81 million, representing a decrease of 18.32% compared to the same period last year[16] - The net profit attributable to shareholders was a loss of RMB 108.96 million, with a year-to-date loss of RMB 531.17 million[16] - The company reported a net loss of RMB 4,979,423,376.98 for the first three quarters of 2023, compared to a net loss of RMB 4,448,257,868.41 in the same period of 2022[28] - The net profit attributable to shareholders of the parent company was -531,165,508.57 CNY, compared to -834,150,562.18 CNY in the previous year, showing an improvement of approximately 36.3%[31] - The total comprehensive income for the period was -337,601,250.11 CNY, compared to -279,487,002.07 CNY in the same period last year[31] Research and Development - The company is focusing on expanding its research and development capabilities, particularly in clinical trials and internal discovery projects[5] - InnoCare aims to strengthen its capabilities in discovery, clinical development, and commercialization by hiring domestic and international talents[8] - Research and development expenses totaled RMB 188.52 million, accounting for 117.97% of operating revenue, an increase of 17.26 percentage points year-on-year[16] - Research and development expenses increased to 549,716,988.65 CNY in 2023 from 475,344,994.01 CNY in 2022, reflecting a rise of about 15.6%[30] Cash and Liquidity - As of September 30, 2023, the company held cash and cash equivalents of approximately RMB 8.58 billion, ensuring sufficient cash reserves for ongoing project advancements[15] - Cash and cash equivalents as of September 30, 2023, amounted to RMB 8,261,546,048.38, a decrease from RMB 8,742,914,140.21 at the end of 2022[27] - The cash and cash equivalents at the end of the period amounted to 5,440,243,367.28 CNY, up from 4,414,372,466.48 CNY in the previous year, indicating a growth of approximately 23.2%[33] Shareholder Information - The total number of issued shares was 1,764,321,452, with 85% listed on the Hong Kong Stock Exchange[21] - The top ten shareholders collectively held 73.00% of the company's shares, with HKSCC NOMINEES LIMITED holding 41.32%[22] Strategic Plans - The company plans to utilize the remaining funds from the fundraising activities completed in February 2021 within three years, depending on actual business needs[9] - The total net amount raised from the February 2021 fundraising was approximately HKD 3,041 million[6] - The company is also reserving funds for potential external collaborations and licensing opportunities[9] - The company plans to continue focusing on R&D and market expansion strategies to enhance future growth prospects[30] Financial Position - Total assets decreased by 2.80% to RMB 10.04 billion compared to the previous year-end[17] - The equity attributable to shareholders decreased by 3.37% to RMB 7.34 billion compared to the previous year-end[17] - Total liabilities as of September 30, 2023, were RMB 2,659,650,754.08, compared to RMB 2,684,457,313.64 at the end of 2022, showing a slight decrease of about 0.9%[28] - The company's total equity as of September 30, 2023, was RMB 7,379,971,333.29, down from RMB 7,644,326,665.47 at the end of 2022[28] Government Support - The company recognized government subsidies amounting to RMB 4.98 million during the reporting period[18] Financial Reporting - The financial data presented in the report is unaudited and based on Chinese accounting principles[1]