Financial Performance - The net loss attributable to the parent company for 2022 was CNY 483 million, with a cumulative unabsorbed loss of CNY 2.021 billion[4]. - The company reported a significant increase in revenue, reaching RMB 500 million, representing a 25% year-over-year growth[25]. - The company's net profit attributable to shareholders was -483,485,014.66 RMB in 2022, a decrease from -357,911,474.59 RMB in 2021, representing an increase in loss of approximately 35%[26]. - The weighted average return on equity was -37.63% in 2022, an improvement from -42.22% in 2021[27]. - The net cash flow from operating activities was -476,894,087.23 RMB in 2022, worsening from -252,066,024.95 RMB in 2021[26]. - The company reported a net loss attributable to shareholders of RMB 483 million for the reporting period, an increase of RMB 126 million compared to the same period last year, primarily due to increased R&D expenses as products entered critical registration clinical trial phases[154]. Research and Development - Research and development expenses for the year were CNY 461 million, representing a year-on-year increase of 46.49%[4]. - The company has multiple drug development projects in progress, with all products currently in the research and development stage and no commercial sales yet[5]. - The company plans to increase its R&D budget by 30% to support ongoing and future projects[25]. - The company has established partnerships with three leading research institutions to accelerate drug development timelines[25]. - The company’s R&D expenses have increased, contributing to the net loss, as it accelerates clinical research progress[27]. - The company has invested RMB 50 million in new technology for drug development, aiming to improve efficiency by 40%[25]. - The company aims to enhance its innovation capabilities and product development to adapt to changing market rules and regulatory policies[147]. Product Pipeline and Clinical Trials - The product pipeline includes BPI-D0316, which has completed registration clinical trials for non-small cell lung cancer and is currently under review by the National Medical Products Administration (NMPA)[5]. - The company has one product in the NDA stage and four products in clinical trials, with three products approved for Phase II or III clinical trials[37]. - D-1553, a KRAS G12C inhibitor, is the first of its kind in China to enter clinical trials and is currently in Phase II trials[40]. - D-0502, an oral selective estrogen receptor degrader, has commenced Phase III clinical trials for ER-positive, HER2-negative breast cancer[41]. - D-2570, a novel oral selective TYK2 inhibitor for psoriasis, received approval to start Phase I clinical trials in June 2022[43]. - The company aims to advance more preclinical candidates into clinical trials and enrich its product pipeline in the future[47]. - The company has multiple ongoing clinical projects, including D-2570 for psoriasis and other undisclosed projects targeting tumors[50]. Market Strategy and Expansion - The company emphasizes the importance of market expansion and academic promotion for new drug acceptance post-approval[7]. - The company is expanding its market presence in Europe, targeting a 15% market share within the next two years[25]. - The company plans to adopt a combination of licensing cooperation and self-sales for product commercialization as products enter the market[72]. - The company aims to capture new drug targets and technologies to enrich its preclinical pipeline, with expectations of entering one to two products into clinical trials annually over the next three years[189]. Risks and Challenges - The company faces risks related to not being profitable, with a long cycle for drug development and significant funding requirements[5]. - There is uncertainty regarding the entry of products into the National Medical Insurance Directory, which could affect price competitiveness[8]. - The company relies on third-party CMO for the production of clinical and preclinical products, which introduces quality control risks[8]. - The company is exposed to foreign exchange risks due to international clinical trials conducted in various currencies, which may negatively impact R&D costs[146]. - The company must navigate complex regulatory environments in different countries, which can affect the approval and commercialization of its products[148]. - The company is at risk of not securing adequate intellectual property protection for its research drugs, which could allow competitors to develop similar products[149]. Corporate Governance - The company held 1 annual general meeting and 1 extraordinary general meeting during the reporting period, ensuring compliance with legal requirements and protecting the rights of minority shareholders[194]. - The board of directors consists of 9 members, including 3 independent directors, and held 8 meetings during the reporting period, approving all agenda items[194]. - The supervisory board comprises 3 members, including 2 employee supervisors, and convened 4 meetings, approving all agenda items[195]. - All resolutions from the shareholder meetings were passed without any objections, indicating effective governance and decision-making processes[198].

Financial Performance - Total revenue for Q1 2023 was not applicable as all products are still in the research and development stage[8]. - Net loss attributable to shareholders for Q1 2023 was ¥117,870,350.59, with a net profit excluding non-recurring items of ¥119,811,770.67[5]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.20[6]. - The weighted average return on equity for Q1 2023 was -5.24%[6]. - Total operating costs for Q1 2023 were CNY 119,810,412.20, a slight decrease of 0.14% compared to CNY 119,984,869.48 in Q1 2022[17]. - Net loss for Q1 2023 was CNY 117,870,350.59, an improvement of 1.68% from a net loss of CNY 119,878,249.53 in Q1 2022[19]. - Other comprehensive income for Q1 2023 was CNY 419,135.55, compared to a loss of CNY 136,957.90 in Q1 2022[20]. - Basic and diluted earnings per share for Q1 2023 were both CNY -0.20, an improvement from CNY -0.26 in Q1 2022[20]. Assets and Liabilities - Total assets at the end of Q1 2023 were ¥2,245,806,646.19, a decrease of 4.09% from the end of the previous year[6]. - As of March 31, 2023, the total current assets amounted to RMB 2,171,277,840.55, a decrease from RMB 2,265,470,912.30 as of December 31, 2022, reflecting a decline of approximately 4.2%[15]. - The total assets as of March 31, 2023, were RMB 2,245,806,646.19, down from RMB 2,341,609,014.39, marking a decrease of about 4.1%[16]. - The non-current assets totaled RMB 74,528,805.64, a decrease from RMB 76,138,102.09, reflecting a decline of approximately 2.1%[15]. - The total liabilities increased to RMB 133,131,287.51 from RMB 126,686,902.60, indicating a rise of approximately 5.4%[16]. - The company's retained earnings showed a negative balance of RMB -2,138,616,910.69, worsening from RMB -2,020,746,560.10[16]. - The total equity attributable to shareholders decreased to RMB 2,112,675,358.68 from RMB 2,214,922,111.79, a decline of about 4.6%[16]. Cash Flow - The company reported a net cash flow from operating activities of -¥81,674,325.83 for Q1 2023[5]. - Net cash flow from operating activities for Q1 2023 was CNY -81,674,325.83, compared to CNY -99,873,889.37 in Q1 2022, indicating a reduced cash outflow[21]. - Cash and cash equivalents decreased to RMB 1,645,819,421.57 from RMB 2,235,210,918.84, representing a significant drop of about 26.4%[14]. - Cash and cash equivalents at the end of Q1 2023 were CNY 1,645,819,421.57, up from CNY 615,149,649.24 at the end of Q1 2022[22]. - Investment activities resulted in a net cash outflow of CNY 501,958,351.88 in Q1 2023, compared to CNY -2,109,829.64 in Q1 2022[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,680[10]. - The largest shareholder, InventisBio Hong Kong Limited, held 19.19% of the shares, totaling 110,329,937 shares[11]. Research and Development - Research and development expenses for Q1 2023 totaled ¥110,164,964.97, representing 2.31% of total revenue[6]. - The company incurred research and development expenses of CNY 110,164,964.97 in Q1 2023, slightly up from CNY 107,678,795.28 in Q1 2022[17].

Financial Performance - The net profit attributable to shareholders for the third quarter was -159,755,724.11 RMB, with a year-to-date net profit of -385,003,047.30 RMB[9] - The company reported a net loss of RMB 1,922,264,592.74 for the third quarter of 2022, compared to a net loss of RMB 1,537,261,545.44 in the same quarter of the previous year[32] - The total comprehensive income for the third quarter of 2022 was -386,067,242.25 CNY, compared to -267,534,079.67 CNY in the previous year, reflecting a worsening financial position[42] - The total profit for the third quarter of 2022 was -385,003,047.30 CNY, which is a decline from -266,750,406.12 CNY in the same quarter of 2021[35] - The basic and diluted earnings per share for the third quarter were both -0.30 RMB, with year-to-date figures of -0.79 RMB[11] - The basic and diluted earnings per share for the third quarter of 2022 were both -0.79 CNY, compared to -0.58 CNY in the same quarter of 2021[42] Research and Development - The total R&D investment for the third quarter was 158,219,836.46 RMB, representing a 66.33% increase compared to the same period last year, and a total of 377,257,640.15 RMB year-to-date, which is a 54.88% increase[11] - Research and development expenses for the third quarter of 2022 were RMB 377,257,640.15, an increase from RMB 243,587,590.01 in the same quarter of the previous year, representing a growth of approximately 55%[32] - The company is in the critical registration clinical phase for key products, with steady progress in other clinical and preclinical products[15] Assets and Liabilities - The total assets at the end of the reporting period amounted to 2,468,830,470.68 RMB, reflecting a 208.59% increase compared to the end of the previous year[11] - As of September 30, 2022, the total current assets amounted to RMB 2,410,488,899.48, a significant increase from RMB 741,450,730.79 in the previous year[24] - The total liabilities reached RMB 164,313,012.97, compared to RMB 114,997,432.98 in the same period last year, indicating a growth of approximately 43%[30] - The total equity attributable to shareholders was RMB 2,304,517,457.71, up from RMB 685,029,725.40 year-over-year, reflecting a growth of about 236%[32] - The equity attributable to shareholders at the end of the reporting period was 2,304,517,457.71 RMB, which is a 236.41% increase compared to the end of the previous year[11] Cash Flow - The net cash flow from operating activities year-to-date was -330,711,530.04 RMB[11] - The net cash flow from operating activities for the third quarter of 2022 was -330,711,530.04 CNY, compared to -190,489,709.74 CNY in the previous year, indicating increased cash outflows[44] - The company reported a net cash inflow from operating activities of 16,488,618.50 CNY, down from 19,173,001.91 CNY in the previous year[42] - The cash and cash equivalents as of September 30, 2022, were RMB 2,389,930,861.41, a substantial rise from RMB 724,250,312.28 in the previous year[24] - The cash and cash equivalents at the end of the third quarter of 2022 amounted to 2,389,930,861.41 CNY, up from 802,728,119.40 CNY in the same period of 2021[44] - The company received 1,999,610,000.00 CNY from financing activities in the third quarter of 2022, a significant inflow compared to the previous year[44] - The cash outflow from investing activities in the third quarter of 2022 was 4,386,350.28 CNY, compared to 23,839,895.07 CNY in the same period of 2021, showing a decrease in investment expenditures[43] Government Support and Other Income - The company received government subsidies amounting to 79,113.39 RMB year-to-date, with other operating income and expenses totaling -100,425.66 RMB[12] Other Observations - The company reported no revenue for the third quarter as all products are still in the research and development stage[15] - The company has not disclosed any new product launches or technological advancements in the recent reports[23] - The weighted average return on net assets for the year-to-date was -41.29%[11] - The company reported a credit impairment loss of 11,698.75 CNY in the third quarter of 2022, compared to a loss of -7,832.74 CNY in the previous year[35]