公司代码：688505 公司简称：复旦张江 编号：2022-002 上海复旦张江生物医药股份有限公司 投资者关系活动记录表 上海复旦张江生物医药股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

2022 年第三季度报告 公司 A 股代码：688505 证券简称：复旦张江 公司 H 股代码：01349 证券简称：复旦张江 上海复旦张江生物医药股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | |-----------------------------------------------|-------------|-----------------|------------------------------------------------------------- ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders for the same period was RMB 300 million, up 20% compared to the previous year[1]. - The company's operating revenue for the first half of the year was ¥271,259,675, a decrease of 32.02% compared to ¥399,037,102 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was -¥35,974,546, representing a decline of 154.94% from ¥65,485,448 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥45,618,524, a decrease of 183.64% compared to ¥54,543,664 last year[24]. - The net cash flow from operating activities was ¥59,366,826, an increase of 5.95% from ¥56,033,635 in the same period last year[24]. - The company's total assets at the end of the reporting period were ¥2,701,939,784, down 2.85% from ¥2,781,172,268 at the end of the previous year[24]. - The company's net assets attributable to shareholders at the end of the reporting period were ¥2,126,038,966, a decrease of 3.05% from ¥2,192,945,932 at the end of the previous year[24]. - The basic earnings per share for the reporting period was -¥0.03, a decline of 150.00% from ¥0.06 in the same period last year[24]. - The company achieved revenue of 271 million yuan during the reporting period, a year-on-year decrease of 32.02%[81]. - The net loss for the six months ended June 30, 2022, was RMB 36,020,882, compared to a profit of RMB 65,069,479 for the same period in 2021[185]. - The company reported a gross loss of RMB 60,771,766 for the six months ended June 30, 2022, compared to a profit of RMB 68,518,791 for the same period in 2021[185]. Research and Development - The R&D investment as a percentage of operating revenue increased to 39.39%, up 12.45 percentage points from 26.94% in the previous year[24]. - The company is conducting Phase I clinical trials for the FDA022 antibody-drug conjugate, targeting HER2-positive advanced solid tumors, with significant market potential[56]. - The company is conducting Phase II clinical studies for the use of Ammonium Ketone Acid in treating HPV-related cervical precancerous lesions and moderate to severe acne, with preclinical studies for gliomas completed[50]. - The company has established a gene engineering technology platform, focusing on the development of cytokine, fusion protein, monoclonal antibody, and antibody-drug conjugate products, with plans to enhance clinical research and registration for gene drugs[44]. - The company is exploring the development of PEGylated liposomal formulations to reduce cardiac toxicity associated with traditional treatments[37]. - The company is currently developing innovative drugs targeting skin diseases, tumors, and precancerous lesions, as well as antibody-drug conjugates for tumors[90]. - The company has a total of 147 patent applications, with 6 new applications in the current period, maintaining a strong intellectual property portfolio[57]. - Research and development expenses for the six months ended June 30, 2022, were RMB 102,559,780, an increase from RMB 98,267,565 in the same period of 2021[185]. - The company has achieved breakthroughs in the large-scale production process of its paclitaxel albumin nanoparticle project, indicating strong potential for market expansion[52]. Market Strategy and Outlook - The company has outlined a future outlook projecting a revenue growth of 10-15% for the second half of 2022[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2023[1]. - The company aims to address the unmet medical needs in the treatment of skin diseases and improve patient outcomes through innovative therapies[29]. - The company is exploring new sales models leveraging online academic exchange platforms to address common marketing challenges and improve patient access[76]. - The company plans to develop a new drug for Parkinson's disease in collaboration with Shanghai Handu Pharmaceutical, which is currently in Phase II clinical trials[93]. Operational Challenges and Risks - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[1]. - The company faced operational challenges due to strict COVID-19 measures in Shanghai, impacting production and delivery schedules[24]. - The company faces risks related to the single variety of its products, as the main products are significantly impacted by competition and regulatory changes[86]. - The company is exposed to risks from potential price reductions in pharmaceuticals due to government policies and market competition[89]. Environmental and Compliance - The company has established a five-year environmental goal based on 2020 as the baseline year, focusing on emissions, waste, energy, and water resources to continuously improve environmental management levels[124]. - The company strictly adheres to national and local standards for pollutant emissions, including wastewater, waste gas, greenhouse gases, and waste, with no violations reported during the reporting period[123]. - The company has implemented a comprehensive energy performance management system, setting energy-saving targets for each department based on historical data and production realities[124]. - The company has established an emergency response mechanism for environmental incidents related to emissions, ensuring compliance with environmental protection regulations[123]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[123]. Shareholder and Governance - The company does not have a controlling shareholder, which may lead to governance instability and decision-making inefficiencies[85]. - The company committed to not transferring or entrusting its shares for 36 months post-IPO, with an extension of at least 6 months if the stock price falls below the issue price for 20 consecutive trading days within the first 6 months[130]. - The company will ensure compliance with legal requirements for related party transactions and maintain independence in operations and financial matters[130]. - The company will limit share reductions to no more than 5% of total shares outstanding per year for 2 years after the lock-up period expires[131]. - The company will ensure that any share sales will not be below the IPO issue price, with adjustments made for any corporate actions affecting share value[133].

2022 年第一季度报告 单位：元 币种：人民币 公司 A 股代码：688505 证券简称：复旦张江 公司 H 股代码：01349 证券简称：复旦张江 上海复旦张江生物医药股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人王海波、主管会计工作负责人薛燕及会计机构负责人（会计主管人员）章雯保证季度 报告中财务报表信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | |-----------------------------------------------|-------------|-------------------------------------| | 项目 | 本报告期 | 本报告期比上年同 期增 ...

Financial Performance - The company's operating revenue for 2021 reached RMB 1,140,313,088, representing a year-on-year increase of 36.76%[28]. - Net profit attributable to shareholders for 2021 was RMB 213,295,758, up 29.53% compared to the previous year[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 35.96% to RMB 173,169,675 in 2021[28]. - The net cash flow from operating activities surged by 137.96% to RMB 268,899,775 in 2021[28]. - The company's total assets at the end of 2021 were RMB 2,781,172,268, reflecting an 11.22% increase from the end of 2020[28]. - The company's revenue for the reporting period reached RMB 1,140,313,088, representing a year-on-year increase of 36.76% compared to RMB 833,802,693 in the previous year[120]. - The operating costs increased to RMB 80,955,367, up 24.91% from RMB 64,811,766, primarily due to improved sales performance[120]. - The company reported a significant increase in sales expenses, which rose by 41.12% to RMB 599,696,956, attributed to improved sales conditions and the inclusion of share-based payment expenses[120]. Research and Development - Research and development expenses accounted for 21.76% of operating revenue in 2021, an increase of 3.17 percentage points from the previous year[28]. - The total R&D investment for the year reached ¥248,153,842, a significant increase of 60.13% compared to the previous year[84]. - The proportion of R&D investment to operating revenue increased to 21.76%, up from 18.59% in the previous year, reflecting a 3.18% rise[84]. - The company has developed PEGylated liposomal doxorubicin, which has shown improved efficacy and reduced cardiac toxicity compared to traditional formulations[63]. - The company is currently conducting Phase I clinical trials for multiple innovative drug candidates, including anti-CD30 antibody conjugate DM1 and anti-Trop2 antibody conjugate SN38, both of which are at the international leading level[95]. - The company has established a gene engineering technology platform, focusing on the development of cytokine, fusion protein, monoclonal antibody, and antibody-drug conjugate products, with plans to enhance clinical research and registration for gene drugs[71]. - The company has completed bioequivalence studies for obeticholic acid, targeting a significant market in China for liver and biliary diseases, and has received clinical approval for confirmatory studies[174]. Product Development and Innovation - The company reported a significant focus on the development of anthracycline drugs, including doxorubicin, epirubicin, and pirarubicin, which are widely used for treating various malignancies[20]. - The company is engaged in the research and development of liposomal formulations, which enhance drug targeting and reduce toxicity[20]. - The company emphasizes the importance of bioequivalence (BE) studies to ensure that generic drugs meet the quality and efficacy standards of original drugs[20]. - The main product, Aira® (Ammonium Pentanoate), is the world's first photodynamic drug for treating genital warts, significantly reducing recurrence rates compared to traditional therapies[41]. - The company launched Aira® in 2007, which has been included in clinical treatment guidelines and textbooks since 2013, highlighting its effectiveness in treating subclinical and latent infections[42]. - The company introduced Revmeda® (Heimofen) in 2017, the first photodynamic drug for treating port-wine stains, showing high cure rates and low recurrence compared to traditional methods[43]. - The company is focusing on innovative drug development in areas such as photodynamic therapy for skin diseases and tumors, and antibody-drug conjugates for cancer treatment[159]. Market and Sales Strategy - The company employs a distribution model for sales, with its own team marketing photodynamic drugs while using a CSO for its anti-tumor product[48]. - The company’s revenue model primarily relies on sales from its pharmaceutical products, with a focus on self-developed products[45]. - The company is focusing on academic promotion as a primary marketing strategy, utilizing a WeChat platform for clinical communication and case sharing[115]. - The company is actively pursuing the internationalization of its core products, particularly through the successful registration of Heimofen in the U.S. market[87]. - The company is exploring new sales models through its WeChat platform, which facilitates academic exchanges among dermatologists and addresses common issues faced by patients[100]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from PwC Zhong Tian[8]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[12]. - The company has not reported any violations of decision-making procedures for external guarantees[12]. - The company is committed to maintaining a transparent and accountable management structure to protect shareholder interests[49]. - The company has not ventured into new industries, new business models, or new formats during the reporting period[68]. Risks and Challenges - The company faces risks related to the lengthy and costly drug development process, which can take over ten years and involves significant uncertainty[105]. - The company is at risk of losing core technical personnel, which could impact its competitive advantage and stability in R&D and production services[106]. - The company faced risks related to potential declines in sales revenue and net profit due to competitive bidding outcomes for its drugs[155]. - The company is exposed to product concentration risk, as its main products are subject to competition and regulatory changes[108]. - The company faces risks related to a lack of actual controlling shareholder, which may affect governance and decision-making efficiency[107]. Investment and Financial Position - The investment cash flow net amount was negative at RMB -355,671,109, primarily due to capital contributions and equity transfer payments totaling RMB 266 million[123]. - The company has made a significant equity investment of RMB 325 million, reflecting a growth of 430.13%[199]. - The company acquired a 39.5663% stake in Shanghai Handu through an investment of RMB 266 million during the reporting period[200]. - Long-term equity investments surged by 430.13% to 325,816,669, representing 11.72% of total assets[143]. - The company has overseas assets totaling 15,038,439, which accounts for 0.54% of total assets[146].

Financial Performance - The company's operating revenue for Q3 2021 was ¥299,076,861, representing a year-on-year increase of 14.77%[6] - The net profit attributable to shareholders for the same period was ¥53,128,822, a decrease of 4.73% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥47,320,806, showing a slight decrease of 0.56% year-on-year[6] - Total operating revenue for Q3 2021 reached 698,113,963, a 40.7% increase from 496,213,149 in the same period of 2020[40] - Net profit for Q3 2021 was 117,926,892, compared to 84,859,395 in Q3 2020, representing a 38.9% growth[42] - Earnings per share for Q3 2021 were 0.11, an increase from 0.09 in Q3 2020[45] - The company reported a total comprehensive income of 116,165,685 for Q3 2021, compared to 84,776,793 in Q3 2020, reflecting a 37.0% increase[45] Research and Development - The total R&D investment for Q3 2021 was ¥70,765,888, an increase of 41.05% compared to the same period last year[8] - R&D investment accounted for 23.66% of operating revenue in Q3 2021, an increase of 4.41 percentage points year-on-year[8] - Research and development expenses for Q3 2021 totaled 159,207,486, up from 102,365,503 in Q3 2020, indicating a 55.4% increase[40] - The company plans to invest a total of RMB 60,000,000 in the construction of a second-phase pharmaceutical production base to support future R&D projects[26] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥147,058,878, reflecting a significant increase of 662.49%[8] - Operating cash inflow for the first three quarters of 2021 reached RMB 775,540,672, a 40% increase from RMB 553,608,496 in the same period of 2020[48] - Cash and cash equivalents at the end of the period stood at RMB 919,497,196, down from RMB 1,416,742,573 at the end of the previous year[51] - The company reported a decrease in cash paid to employees to RMB 112,130,627 from RMB 119,862,895, reflecting a 6% reduction[48] - The net cash flow from financing activities was -RMB 88,889,372, a significant decrease from RMB 855,952,866 in the previous year[51] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,543,080,453, a 1.69% increase from the end of the previous year[8] - The equity attributable to shareholders at the end of the reporting period was ¥2,067,806,206, up 2.83% from the previous year[8] - The company's long-term equity investments increased significantly to RMB 321,918,991 from RMB 61,459,426, marking a growth of approximately 423.5%[30] - The total current assets decreased to RMB 1,739,117,480 from RMB 2,026,574,174, reflecting a reduction of about 14.2%[30] - Total liabilities decreased slightly to RMB 411,221,966 from RMB 427,925,821, a reduction of about 3.5%[34] Inventory and Shareholder Information - The company reported an increase in inventory to RMB 40,154,851 from RMB 36,009,341, which is an increase of approximately 11.9%[30] - The number of shareholders as of the reporting period was 21,993, with 21,842 holding A shares and 151 holding H shares[22] - The company granted 32.77 million restricted shares to 258 incentive recipients at a price of RMB 8.90 per share as part of its employee stock incentive plan[25]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[2]. - The net profit for the period was RMB 300 million, which is a 20% increase compared to the same period last year[2]. - The company's operating revenue for the first half of 2021 was 399,037,102 RMB, representing a year-on-year increase of 69.36% compared to 235,614,896 RMB in the same period last year[25]. - The net profit attributable to shareholders of the listed company reached 65,485,448 RMB, a significant increase of 125.20% from 29,078,874 RMB in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 54,543,664 RMB, showing a remarkable growth of 417.95% compared to 10,530,619 RMB in the same period last year[25]. - The company's cash flow from operating activities was 56,033,635 RMB, a decrease of 7.87% from 60,819,045 RMB in the previous year[25]. - The total comprehensive income for the period was RMB 69,016,856, up from RMB 29,416,219 in the previous year, indicating a growth of 134%[193]. - Basic and diluted earnings per share increased to RMB 0.06, compared to RMB 0.03 in the same period last year[193]. Research and Development - Research and development expenses increased by 18%, totaling RMB 150 million, reflecting the company's commitment to innovation[2]. - The R&D investment accounted for 26.94% of the operating revenue, an increase of 2.79 percentage points from 24.15% in the previous year[25]. - The company reported a significant increase in R&D expenditures, with total R&D investment reaching approximately ¥107.5 million, an 88.92% increase compared to the previous period[61]. - The company has received 13 new patents during the reporting period, bringing the total number of patents obtained to 103[61]. - The company’s research and development strategy focuses on addressing clinical gaps and achieving differentiated competition through innovative drug development[47]. - The company is focusing on drug development based on gene engineering, photodynamic technology, nanotechnology, and oral solid preparation technology platforms[78]. Market Expansion and Product Development - The company has outlined a future outlook projecting a revenue growth of 10-15% for the second half of 2021[2]. - New product development includes the launch of a novel photodynamic therapy product, expected to enter the market by Q4 2021[2]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[2]. - The company aims to expand its market presence through the development of new drugs and technologies, focusing on unmet medical needs in dermatology and oncology[36]. - The company’s flagship product, Ai La®, is the first photodynamic drug for treating genital warts, significantly reducing recurrence rates compared to traditional therapies[38]. - The company has introduced Huimeida® for the treatment of port-wine stains, which is recognized for its high cure rate and low recurrence compared to traditional laser treatments[39]. Financial Position and Investments - The total assets amounted to 2,479,272,106 RMB, which is a decrease of 0.86% compared to 2,500,701,037 RMB at the end of the previous year[25]. - The net assets attributable to shareholders at the end of the reporting period were 2,028,213,577 RMB, reflecting a slight increase of 0.86% from 2,010,930,752 RMB at the end of the previous year[25]. - The company has made a significant investment of RMB 266 million in Shanghai Handu, resulting in a 428.13% increase in its equity investment to RMB 325 million[99]. - The company has completed the construction of two production lines for the production of raw materials and injections, enhancing its industrialization capabilities[92]. - The company plans to register multiple generic drugs to utilize the production capacity of its newly built lines before obtaining production licenses for its innovative drugs[92]. Risks and Challenges - The company has identified key risks including regulatory changes and market competition, which are detailed in the risk factors section of the report[2]. - The company is facing risks related to new drug development, including high costs and long timelines, which can take over ten years[78]. - The product portfolio is relatively concentrated, with the three main products being vulnerable to competition and regulatory changes[80]. - The company is at risk of losing core technical personnel, which is crucial for maintaining its competitive edge in the industry[79]. Corporate Governance and Compliance - The company is committed to maintaining a robust management structure to ensure transparency and accountability, with no significant changes to its operational model during the reporting period[46]. - The company will continue to strictly adhere to legal requirements regarding related party transactions and ensure fair pricing and timely information disclosure[132]. - The company has established a framework for monitoring and enforcing compliance with share transfer commitments among its executives[138]. - The company emphasizes compliance with relevant laws and regulations regarding share transfers and disclosures, ensuring transparency in their operations[137]. Environmental Responsibility - The company has implemented measures to improve resource utilization and reduce pollution during production, including the use of clean energy and advanced technology[119]. - The company strictly adheres to national and local environmental standards for wastewater and emissions, with no violations reported during the reporting period[122]. - The company has established an environmental emergency response mechanism and conducts regular monitoring of wastewater and emissions by qualified testing units[119]. - The company has developed a supplier management policy to ensure compliance with environmental and social responsibilities[123].

2021 年第一季度报告 公司代码：688505 公司简称：复旦张江 上海复旦张江生物医药股份有限公司 2021 年第一季度报告 1 / 22 2021 年第一季度报告 í 二、 11Í 四、 目录 | --- | |--------------| | | | 重要提示 | | 公司基本情况 | | 重要事项 | | 附录 | 2 / 22 2021 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王海波、主管会计工作负责人薛燕及会计机构负责人（会计主管人员）章雯保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|----------------|------- ...

Financial Performance - The company's operating revenue for 2020 was ¥833,802,693, a decrease of 18.99% compared to ¥1,029,294,769 in 2019[28]. - The net profit attributable to shareholders for 2020 was ¥164,662,782, down 27.58% from ¥227,357,983 in 2019[28]. - The net profit after deducting non-recurring gains and losses was ¥127,366,610, a decrease of 35.96% compared to ¥198,897,143 in 2019[28]. - The net cash flow from operating activities was ¥113,003,294, down 58.03% from ¥269,232,612 in 2019[28]. - The company's revenue for 2020 was RMB 833,802,693, a decrease of 18.99% compared to RMB 1,029,294,769 in the previous year[118]. - The sales revenue for the reporting period decreased by 19% compared to the previous year, with the three main products contributing 99% of total medical product sales revenue[109]. - Sales revenue from the product Aila® decreased by 35% in 2020 due to the impact of the COVID-19 pandemic[110]. - The revenue from medical products was RMB 820,810,438, accounting for 98.60% of the main business income, a decrease of 17.68% from the previous year[124]. Dividend and Capital Management - The company plans to distribute a cash dividend of RMB 0.5 per 10 shares, totaling RMB 52.15 million, which accounts for 31.67% of the net profit attributable to shareholders for 2020[7]. - The company does not plan to increase capital reserves or issue bonus shares for the year[7]. - The company's capital reserve increased by 404.68% to RMB 1.20 billion, reflecting the successful fundraising efforts[142]. R&D and Innovation - The R&D investment as a percentage of operating revenue increased to 18.59% in 2020, up 5.91 percentage points from 12.68% in 2019[28]. - The company has invested a total of CNY 154,973,280 in R&D for the year, representing an 18.75% increase compared to the previous year, with R&D expenses accounting for 18.59% of total revenue[80]. - The company is focusing on the development of Antibody-Drug Conjugates (ADC) as a key direction within its gene engineering technology platform, which has become a hotspot in targeted cancer therapy[70]. - The company has established a photodynamic technology platform that is at the forefront of the world, with ongoing projects aimed at expanding indications for existing photodynamic drugs[71]. - The company is developing a second ADC drug targeting triple-negative breast cancer, bladder cancer, and gastric cancer, with clinical research registration classified as Class 1 therapeutic biological products[160]. - The company is exploring the development of Her3-Dxd drugs and Dxd class ADCs targeting small cell lung cancer, as well as Trop2-Dxd projects for treating solid tumors like gastric and triple-negative breast cancer[162]. Market and Industry Trends - The Chinese pharmaceutical industry is experiencing continuous growth, with an increasing importance in the national economy[48]. - The demand for pharmaceuticals in China is increasing due to population growth and aging, with the population aged 65 and above rising from 144 million in 2015 to 176 million in 2019, accounting for 12.6% of the total population[61]. - The global pharmaceutical market is expected to exceed $1.5 trillion in spending by 2023, with China's annual drug expenditure growth projected to remain between 3%-6%[198]. - The pharmaceutical industry in China is undergoing significant transformation, with accelerated drug approval processes and a focus on innovation[199]. Corporate Governance and Risk Management - The company has identified significant risks in its operations, which are detailed in the report[5]. - The audit report issued by PwC confirms that the financial statements are free from material misstatements[6]. - There are no non-operating fund occupations by controlling shareholders or related parties[9]. - The company has not faced any violations in decision-making procedures regarding external guarantees[9]. - The company operates without a controlling shareholder, which may lead to governance instability and decision-making inefficiencies[104]. - The company is exposed to drug price reduction risks due to increasing competition and regulatory changes in the pharmaceutical industry[106]. Product Development and Sales Strategy - The company’s main products include innovative drugs such as Aira® and Reumida®, which address unmet medical needs in dermatology and oncology[38][41]. - The company primarily employs a distribution model for product sales, with its photodynamic therapy drugs, Aira® and Fumida®, marketed by its own team, while the anti-tumor drug Liboduo® is marketed through a contracted CSO[45]. - The company is committed to establishing a standardized and robust corporate management structure to enhance transparency and accountability, thereby protecting shareholder interests[46]. - The company is exploring new sales models leveraging its academic promotion platform to address common issues in the current marketing environment[94]. - The company is exploring new sales models utilizing its WeChat platform for academic promotion and doctor-patient interactions[114]. Impact of COVID-19 - The COVID-19 pandemic impacted the company's main business, leading to a decrease in revenue due to disruptions in drug distribution and patient visits to hospitals[30]. - The impact of COVID-19 has led to delays in resuming production and a decrease in non-epidemic related prescriptions, affecting the industry negatively in the short term[199]. Financial Health and Assets - The total assets at the end of 2020 were ¥2,500,701,037, an increase of 59.81% from ¥1,564,824,553 at the end of 2019[28]. - The net assets attributable to shareholders at the end of 2020 were ¥2,010,930,752, up 115.88% from ¥931,525,379 at the end of 2019[28]. - Cash and cash equivalents increased by 142.18% to RMB 1.40 billion, primarily due to funds raised from the initial public offering[142]. - The company’s total liabilities decreased significantly, with short-term borrowings reduced to zero from RMB 148.94 million[142]. Clinical Trials and Regulatory Approvals - The company has received clinical approval for its small molecule targeted drug JAK1 selective inhibitor and has commenced Phase I clinical trials[77]. - The company has completed Phase I clinical research for Aira in treating moderate to severe acne and is moving into Phase II trials, while also exploring painless treatment options[166]. - The company is preparing to submit clinical applications for Aira in treating photodamaged skin conditions and gliomas, with preclinical studies already completed[166]. - The company is conducting a consistency evaluation study for Liposomal Doxorubicin and is in the process of registration in the U.S.[178].

2020 年第三季度报告 公司代码：688505 公司简称：复旦张江 上海复旦张江生物医药股份有限公司 2020 年第三季度报告 1 / 23 2020 年第三季度报告 一、 重要提示 二、 公司基本情况 11[ 重要事项 四、 附录 目录 2 / 23 2020 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王海波、主管会计工作负责人薛燕及会计机构负责人（会计主管人员）章雯保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|------------------------------------| ...