Financial Performance - Total revenue for 2022 was RMB 1,031,160,000, a decrease of 9.6% compared to RMB 1,140,313,000 in 2021[7] - Profit before tax for 2022 was RMB 132,294,000, down 38.8% from RMB 215,921,000 in 2021[7] - Net profit attributable to shareholders for 2022 was RMB 137,997,000, a decrease of 35.4% compared to RMB 213,296,000 in 2021[7] - The basic and diluted earnings per share attributable to shareholders for 2022 was RMB 0.1340, down from RMB 0.2049 in 2021[7] - The company's net profit for 2022 was approximately RMB 137,272 thousand, a decline of about 35% from RMB 212,381 thousand in 2021, resulting in a net profit margin of 13% compared to 19% in the previous year[79] - The cost of goods sold for 2022 was RMB 84,062 thousand, up from RMB 80,899 thousand in 2021, with the cost-to-revenue ratio increasing from 7% to 8%[68] - Sales expenses for 2022 were RMB 554,631 thousand, an 8% decrease from RMB 599,697 thousand in 2021, while the ratio of sales expenses to revenue increased from 53% to 54%[69] - Research and development expenses for 2022 amounted to RMB 226,851 thousand, a 1% increase from RMB 224,387 thousand in 2021, while total R&D investment decreased by 6% to RMB 233,659 thousand[70] - Other income for 2022 was RMB 10,465 thousand, a decrease of 52% from RMB 21,687 thousand in 2021, attributed to a reduction in government subsidies[75] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 2,976,007,000, an increase of 7% from RMB 2,781,172,000 in 2021[9] - Total liabilities as of December 31, 2022, were RMB 722,986,000, an increase of 22.2% from RMB 591,582,000 in 2021[9] - As of December 31, 2022, the company's long-term equity investments had a net book value of RMB 305,767 thousand, with an investment loss of approximately RMB 19,800 thousand recorded during the reporting period[81] - As of December 31, 2022, the company had cash and cash equivalents of approximately RMB 1,289,303 thousand, an increase from RMB 1,208,881 thousand at the end of 2021[94] Research and Development - The company aims to become an innovator and leader in the biopharmaceutical industry, focusing on effective treatment solutions[12] - The company emphasizes the importance of new drug development as a reflection of value creation in the pharmaceutical industry[12] - The company plans to continue exploring clinical treatment gaps and providing more effective therapeutic options[12] - The company has a strong commitment to addressing unmet clinical needs through innovative drug development[16] - The company has established a gene engineering technology platform, focusing on developing cytokine, fusion protein, monoclonal antibody, and antibody-drug conjugate products to meet unmet clinical needs[174] - The company has established a nanotechnology platform for drug development, focusing on liposomal formulations to enhance drug solubility and bioavailability, addressing significant technical barriers in the industry[177] - The company has maintained a balance between innovative and generic drug development, ensuring that its projects meet clinical needs and demonstrate unique therapeutic effects[171] Clinical Trials and Product Development - The company is a leader in the development of photodynamic drugs, with ongoing research targeting skin diseases, tumors, and precancerous lesions[16] - The product ALA® has been successfully commercialized and is now the preferred clinical drug for treating condyloma acuminatum, with multiple new indications being explored[17] - Clinical research for ALA® in treating cervical precancerous lesions has shown significant progress, with a new optimized Phase II clinical study plan developed[20] - The company is conducting Phase II clinical trials for ALA® in treating moderate to severe acne, focusing on pain-free treatment options[20] - The company has initiated Phase II clinical trials for ALA® in treating glioblastoma, confirming its potential clinical benefits[20] - The product Revamed® (Heimofen) is the world's first photodynamic drug for treating capillary malformations, with ongoing Phase II clinical trials in the U.S.[22] - The company's first ADC drug, targeting CD30, completed Phase I clinical trials and is now undergoing an expansion Phase I trial for relapsed/refractory CD30-positive peripheral T-cell lymphoma[26] - The ADC drug targeting Trop2 for triple-negative breast cancer, bladder cancer, and gastric cancer is currently in Phase I clinical research, aiming to achieve similar clinical results as the original drug[28] - The ADC drug targeting HER2 for metastatic breast cancer and gastric cancer has initiated Phase I clinical research, with the first subject enrolled in January 2023[29] - The company has developed a new linker-drug platform (BB05 platform) to support the development of Me-better or innovative ADC drugs[28] - The Parkinson's disease controlled-release drug project (WD-1603) completed Phase II clinical research and is expected to enter Phase III trials soon, utilizing the UGi-Pump® technology[30] - The small molecule JAK1 selective inhibitor for rheumatoid arthritis is currently in Phase I clinical research, with additional projects for atopic dermatitis and ulcerative colitis in Phase II[31] - The company has received approval for a topical JAK1 selective inhibitor for atopic dermatitis to commence Phase I clinical trials[31] Market and Industry Trends - The global pharmaceutical market is projected to exceed USD 1.1 trillion by 2024, with a compound annual growth rate of 3-6% expected until 2026[59] - By 2025, the Chinese pharmaceutical market is estimated to reach RMB 2.1 trillion, with the biopharmaceutical market expected to account for 48%[59] - The market for broad skin disease treatment and care in China grew from RMB 300.4 billion in 2017 to RMB 471.8 billion in 2021, with a CAGR of 11.95%[153] - The global oncology drug expenditure is projected to reach $370 billion by 2027, driven by the acceleration of new drug launches and biosimilars[157] - In China, approximately 2.2 million new cancer cases are reported annually, with a mortality rate of 1.6 million, indicating a 20% annual increase in incidence and mortality over the past two decades[157] Corporate Governance and Strategy - The company emphasizes the importance of balancing innovative drug development with shareholder interests[14] - The company has implemented a restricted stock incentive plan in 2021, incurring share-based payment expenses of approximately RMB 7,689 thousand during the reporting period[79] - The company believes that the structured deposit agreements with banks will yield more favorable returns compared to traditional deposits[114] - The board of directors has approved the incentive plan to enhance the motivation and creativity of the employees involved[118] - The company has a conservative financial policy, focusing on centralized management of funds and regular assessments of asset liquidity and financial arrangements[94] - The company has no significant contingent liabilities or asset pledges as of December 31, 2022[86][87] Challenges and Risks - The company faced challenges in production and sales due to unexpected factors, impacting the normal operation of research and development projects[65] - The company faces risks related to new drug development, with a lengthy process that can take over ten years and significant uncertainty regarding the success of products in clinical trials[185] - The company’s product range is relatively narrow, with three main products contributing significantly to total revenue, which poses a risk if these products face competitive pressures or regulatory challenges[187] - Recent policies have led to a decline in drug prices, increasing competition and potential revenue impacts for the company, although its products are not currently subject to these price reductions[188] Dividend Policy - The company plans to distribute a final dividend of RMB 0.07 per share for the year ended December 31, 2022, totaling approximately RMB 72.03 million (including tax) based on 1,029,000,000 shares issued[197] - The proposed dividend distribution will be subject to approval at the annual general meeting scheduled for May 30, 2023[197] - The company has implemented a stable and proactive profit distribution policy since 2015, aiming for a cash dividend ratio of no less than 10% of the distributable profit in the first three years post-IPO[194] - The board of directors will consider the impact of cash dividends on the company's operational funding needs and any significant cash expenditures in the next twelve months[196]

股票代码：688505 股票简称：复旦张江 公告编号：临 2023-015 上海复旦张江生物医药股份有限公司 关于参加 2022 年度集体业绩说明会的公告 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： 投资者可于 2023 年 4 月 25 日（周二）前通过邮件（ir@fd-zj.com）将需要了 解和关注的问题提前提供给公司，公司将在文字互动环节对投资者普遍关注的问 题进行回答。 上海复旦张江生物医药股份有限公司（以下简称"公司"）已于 2023 年 3 月 28 日于上海证券交易所网站（www.sse.com.cn）披露《上海复旦张江生物医药股 份有限公司 2022 年年度报告》。为便于广大投资者全面深入地了解公司 2022 年 度经营成果、财务状况、发展理念，公司参与了由上海证券交易所主办的 2022 年度集体业绩说明会，此次活动将采用视频和网络文字互动的方式举行，投资者 可登录上海证券交易所上证路演中心（http://roadshow.sseinfo.com/）参与线上互 动交流。 一、说明会类型 ...

Financial Performance - The company's operating revenue for 2022 was CNY 1,031,159,838, a decrease of 9.57% compared to CNY 1,140,313,088 in 2021[21]. - The net profit attributable to shareholders for 2022 was CNY 137,997,098, down 35.30% from CNY 213,295,758 in 2021[21]. - The net cash flow from operating activities was CNY 165,268,622, reflecting a decline of 38.54% compared to CNY 268,899,775 in 2021[21]. - The total assets at the end of 2022 were CNY 2,976,007,272, an increase of 7.01% from CNY 2,781,172,268 at the end of 2021[21]. - The basic earnings per share for 2022 were CNY 0.13, a decrease of 38.10% from CNY 0.21 in 2021[22]. - The diluted earnings per share for 2022 were CNY 0.13, down 35.00% from CNY 0.20 in 2021[22]. - The weighted average return on equity decreased to 6.21% in 2022, down 4.21 percentage points from 10.42% in 2021[22]. - The net assets attributable to shareholders at the end of 2022 were CNY 2,257,102,217, a slight increase of 2.93% from CNY 2,192,945,932 at the end of 2021[21]. Dividend and Share Capital - The proposed cash dividend for the year 2022 is RMB 0.7 per share, totaling RMB 72,030,000, which accounts for 52.20% of the net profit attributable to shareholders[5]. - The total share capital as of December 31, 2022, is 1,029,000,000 shares[5]. - The company does not plan to increase capital reserves or issue bonus shares[5]. Research and Development - The company's R&D expenditure accounted for 22.66% of operating revenue in 2022, an increase of 0.90 percentage points from 21.76% in 2021[22]. - The company reported a total R&D investment of ¥233,659,132, a decrease of 5.84% compared to the previous year[74]. - The number of newly applied patents during the year was 15, with a total of 187 applications and 104 patents granted cumulatively[72]. - The company has 184 R&D personnel, representing 20.22% of the total workforce, an increase from 17.65% in the previous year[83]. - The company’s R&D projects are primarily focused on addressing unmet clinical needs and demonstrating unique therapeutic effects[84]. - The company is advancing multiple antibody-drug conjugates, such as Trop2 antibody conjugate (F0024) and DLL3 antibody conjugate (F0041), both at Phase I and preclinical stages, indicating strong R&D capabilities[85]. Market and Industry Trends - The global pharmaceutical market is projected to grow at a compound annual growth rate of 3-6% from 2023 to 2027, potentially reaching a total market size of approximately USD 1.9 trillion[46]. - The Chinese pharmaceutical market reached a total size of USD 221.4 billion in 2020, with projections to grow to USD 349.8 billion by 2025[47]. - The market for broad skin disease treatment and care in China grew from RMB 300.4 billion in 2017 to RMB 471.8 billion in 2021, with a compound annual growth rate of 11.95%[48]. - The aging population in China is projected to increase the demand for pharmaceuticals, with the population aged 65 and above rising from 170 million in 2018 to 210 million in 2022, accounting for 14.86% of the total population[9]. Product Development and Pipeline - The company is focusing on innovative drug development using gene engineering, photodynamic technology, and nanotechnology, targeting skin diseases and tumors[33]. - The company plans to expand its clinical indications for selected drugs and develop new treatment regimens[33]. - The company aims to become a leader in the biopharmaceutical industry by providing effective treatment solutions and drugs[34]. - The company is conducting clinical trials for multiple projects, including the successful registration of Haemophin in the U.S. market[78]. - The company is advancing its ADC projects, including a Phase I clinical trial for an anti-Trop2 ADC drug targeting triple-negative breast cancer and bladder cancer[146]. Risks and Challenges - The company has disclosed potential significant risks in the management discussion and analysis section[4]. - The company faces risks related to the successful development and commercialization of new drugs, which can take over ten years and involve significant costs[93]. - The company is at risk of losing core technical personnel, which could impact its competitive advantage and operational stability if not managed effectively[94]. Governance and Compliance - The audit report issued by PwC is a standard unqualified opinion[5]. - The company has not violated decision-making procedures for external guarantees[7]. - The absence of a controlling shareholder poses risks to corporate governance and decision-making efficiency[95]. - The company is focusing on governance improvements through the revision of its management methods and rules[195].

Financial Performance - The company's revenue for the year ended December 31, 2022, was RMB 1,031,160,000, a decrease of 9.6% compared to RMB 1,140,313,000 in 2021[2] - Profit before tax for 2022 was RMB 132,294,000, down 38.7% from RMB 215,921,000 in the previous year[2] - The total comprehensive income attributable to shareholders for 2022 was RMB 136,847,000, a decline of 34.8% from RMB 210,016,000 in 2021[2] - The company's basic and diluted earnings per share for 2022 were RMB 0.1340, down from RMB 0.2049 in 2021, reflecting a decrease of 34.3%[2] - Net profit for 2022 was RMB 137,272,198, down from RMB 212,380,705 in 2021, representing a decline of 35.3%[13] - Total revenue for 2022 was $929.03 million, a decrease of 8.96% from $1,020.67 million in 2021[18] - Net profit for 2022 was $102.04 million, down 41.06% from $173.22 million in 2021[18] - Operating profit decreased to $105.92 million in 2022, compared to $177.03 million in 2021, reflecting a decline of 40.06%[18] Assets and Liabilities - The company's total assets as of December 31, 2022, amounted to RMB 2,976,007,000, an increase from RMB 2,781,172,000 in 2021[4] - Total liabilities increased to RMB 722,986,000 in 2022 from RMB 591,582,000 in 2021, representing a rise of 22.2%[4] - The company's total liabilities reached RMB 678,689,845 in 2022, an increase of 25.9% from RMB 539,099,929 in 2021[11] - Current liabilities rose to RMB 633,102,882 in 2022, compared to RMB 482,246,500 in 2021, an increase of 31.3%[11] - The company's total equity attributable to shareholders was RMB 2,257,102,000 as of December 31, 2022, compared to RMB 2,192,946,000 in 2021, showing an increase of 2.9%[8] Cash and Cash Equivalents - Cash and cash equivalents as of December 31, 2022, were RMB 1,289,302,664, up from RMB 1,208,880,911 in 2021[6] - Cash flow from operating activities for 2022 was $165.27 million, a decrease of 38.43% from $268.90 million in 2021[21] - The company reported cash and cash equivalents at year-end 2022 of $1.29 billion, an increase from $1.21 billion at the end of 2021[23] - Cash and bank deposits as of December 31, 2022, amount to RMB 1,289,258,185, an increase from RMB 1,208,855,545 in 2021[126] Research and Development - Research and development expenses increased slightly to RMB 226,850,903 in 2022 from RMB 224,387,287 in 2021, indicating a focus on innovation[13] - Research and development expenditures are classified into research phase and development phase, with development costs capitalized only if specific criteria are met[87] - Research and development expenses for 2022 totaled RMB 233,659,132, a decrease from RMB 248,153,842 in 2021, with RMB 226,850,903 recognized in profit or loss[178] Shareholder Equity and Dividends - The company distributed RMB 72,030,000 to shareholders in 2022, compared to RMB 52,150,000 in 2021, marking an increase of approximately 38.3%[34] - The total comprehensive income for 2022 was RMB 137,272,198, down from RMB 212,380,706 in 2021, reflecting a decrease of approximately 35.3%[34] - The company reported a total shareholder equity of RMB 2,321,921,130 as of December 31, 2022, reflecting a slight increase from the previous year[34] Inventory and Receivables - The company reported a decrease in inventory to RMB 40,526,760 in 2022 from RMB 35,625,222 in 2021, which is an increase of 13.4%[6] - The total accounts receivable balance as of December 31, 2022, is CNY 569,136,087, with an expected credit loss of CNY 14,777,342[138] - Accounts receivable as of December 31, 2022, total RMB 518,749,422, down from RMB 569,136,087 in 2021, indicating a decrease of approximately 8.8%[129] - The provision for bad debts for accounts receivable decreased to RMB 12,365,732 in 2022 from RMB 14,777,342 in 2021, reflecting a reduction of about 16.3%[133] Impairment and Provisions - The total impairment provision for assets decreased to CNY 16,229,937 from CNY 17,178,928 in 2021, reflecting a reduction of approximately 5.5%[190] - The provision for inventory write-down increased by CNY 3,052,947 during the year, resulting in a total of CNY 3,247,315 as of December 31, 2022, compared to CNY 4,771,622 in 2021[190] - The provision for bad debts for other receivables was zero as of December 31, 2022, compared to CNY (925) in 2021[151] Employee Compensation - The total employee compensation payable decreased to CNY 27,761,585 in 2022 from CNY 36,493,188 in 2021, reflecting a decline of about 24.5%[197] - The provision for employee benefits, including social insurance, was CNY 2,280,771 as of December 31, 2022, compared to CNY 491,727 in 2021, indicating a significant increase in employee-related expenses[199] Accounting Policies - The financial statements for the year 2022 were approved by the board of directors on March 27, 2023[41] - The company adheres to the accounting standards set by the Ministry of Finance and the China Securities Regulatory Commission, ensuring the financial statements reflect true and complete information[44] - The accounting year runs from January 1 to December 31, aligning with the calendar year[45] Other Financial Information - The company has adopted new accounting standards and interpretations issued by the Ministry of Finance, which had no significant impact on the financial statements[120] - The corporate income tax rate applicable to the company for the year 2022 is 15%, consistent with 2021[122] - The company has not recognized any taxable income for its subsidiary Taizhou Fudan Zhangjiang Pharmaceutical Co., Ltd. for the years 2021 and 2022, resulting in no income tax expense[123]

Group 1: Company Overview - Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co., Ltd. was established in November 1996 and is primarily engaged in innovative research, development, manufacturing, and marketing in the biopharmaceutical sector [2]. - The company aims to be an innovator and leader in the biopharmaceutical industry, focusing on exploring clinical treatment gaps and providing more effective therapeutic solutions [2]. Group 2: Research and Development Platforms - The company has established multiple research platforms, including gene engineering, photodynamic technology, nanotechnology, and oral solid preparation technology [4]. - The research pipeline includes various indications, with a focus on antibody-drug conjugates (ADC) targeting cancers such as breast cancer and gastric cancer [5]. Group 3: Product Development and Clinical Trials - The main component of the drug Aira is aminolevulinic acid hydrochloride, with ongoing studies for indications including HPV-related cervical diseases and acne, with some projects already in Phase II clinical trials [3]. - The photodynamic therapy products Aira and Fumeida have shown significant clinical advantages over traditional laser treatments, including lower recurrence rates and better patient tolerance [4]. Group 4: Financial and Investment Insights - R&D investment has been increasing since the company's listing on the STAR Market, with R&D expenditure as a percentage of revenue rising from 12.68% in 2019 to 21.76% in 2021 [6]. - The company plans to maintain a high R&D investment ratio in the future, continuing to focus on advancing ongoing projects [6].

Financial Performance - The company's operating revenue for Q3 2022 was RMB 445,006,305, representing a year-on-year increase of 2.60%[6] - The net profit attributable to shareholders for Q3 2022 was RMB 72,798,391, a decrease of 68.95% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was RMB 67,906,975, down 78.12% year-on-year[6] - The basic earnings per share for Q3 2022 was RMB 0.07, a decrease of 63.64% compared to the previous year[9] - Total operating revenue for the first three quarters of 2022 reached 716,265,980, an increase from 698,113,963 in the same period of 2021, representing a growth of approximately 2.3%[33] - Net profit for the first three quarters of 2022 was 36,739,951, down from 117,926,892 in 2021, indicating a decline of approximately 68.9%[36] - Total comprehensive income for the first three quarters of 2022 was 35,535,491, down from 116,165,685 in 2021, indicating a decrease of approximately 69.5%[39] Research and Development - The total R&D investment for Q3 2022 was RMB 71,029,256, accounting for 15.96% of operating revenue, a decrease of 7.70 percentage points year-on-year[9] - Research and development expenses rose to 171,893,365 in 2022 compared to 159,207,486 in 2021, marking an increase of about 8.5%[33] - The company’s development expenditures increased to CNY 33,998,236 from CNY 28,017,508, reflecting a growth of approximately 21.4%[28] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was RMB 196,182,795, an increase of 33.40% compared to the previous year[6] - Cash flow from operating activities for the first three quarters of 2022 was 196,182,795, an increase from 147,058,878 in 2021, showing a growth of approximately 33.5%[42] - Total cash inflow from investment activities was $2,860,270,307, an increase from $2,462,681,721[45] - Net cash flow from investment activities was -$79,977,072, an improvement from -$535,542,863[45] - The net increase in cash and cash equivalents was $28,262,995, compared to a decrease of $477,392,996 in the previous period[45] Assets and Liabilities - Total assets at the end of the reporting period were RMB 2,908,473,496, an increase of 4.58% from the end of the previous year[9] - As of September 30, 2022, the total assets of Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. amounted to CNY 2,908,473,496, an increase from CNY 2,781,172,268 at the end of 2021, representing a growth of approximately 4.6%[25] - The total liabilities increased to CNY 695,635,874 from CNY 591,582,298, reflecting a rise of approximately 17.6%[30] - The company's total current assets reached CNY 1,995,022,020, up from CNY 1,927,945,778 in the previous year, indicating an increase of about 3.5%[25] - The total equity attributable to shareholders was CNY 2,216,277,478, up from CNY 2,192,945,932, indicating a growth of approximately 1.1%[30] Shareholder Information - The company has a total of 21,351 common shareholders at the end of the reporting period, with the top ten shareholders holding a combined 67.74% of shares[16] - The number of shareholders totaled 21,351, with 21,211 holding A shares and 140 holding H shares, indicating a diverse shareholder base[20] Other Financial Metrics - The weighted average return on equity for Q3 2022 was 3.35%, an increase of 0.76 percentage points year-on-year[9] - The company reported a significant recovery in production and sales due to the control of the Shanghai pandemic, leading to a 48.79% increase in operating revenue for the current period[12] - The company experienced a significant increase in credit impairment losses, which amounted to -22,666,224 in 2022 compared to -4,431,214 in 2021[36] - Other income decreased to 2,481,052 in 2022 from 3,922,985 in 2021, reflecting a decline of approximately 36.7%[33] - Cash paid for dividends, profits, or interest was $72,030,000, an increase from $52,150,000[45] - The company has adopted new accounting standards starting from 2022, which may affect financial reporting[45]

[Financial Summary and Performance Highlights](index=2&type=section&id=Financial%20Summary%20and%20Performance%20Highlights) The company reported significant Q3 2022 revenue and net profit growth, though year-to-date net profit declined sharply due to increased share-based payment expenses [Key Financial Data](index=2&type=section&id=%E4%B8%BB%E8%A6%81%E8%B2%A1%E5%8B%99%E6%95%B8%E6%93%9A) In Q3 2022, the company achieved significant year-on-year growth in operating revenue and net profit, while year-to-date net profit saw a substantial decline, influenced by increased share-based payment expenses | Item | Current Period (Q3 2022) (RMB Yuan) | YoY Change (%) in Current Period | Year-to-Date (First Three Quarters) (RMB Yuan) | YoY Change (%) Year-to-Date | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 445,006,305 | 48.79% | 716,265,980 | 2.60% | | **Net Profit Attributable to Shareholders of the Listed Company** | 72,798,391 | 37.02% | 36,823,845 | -68.95% | | **Net Profit Attributable to Shareholders of the Listed Company (Excluding Non-Recurring Gains/Losses)** | 67,906,975 | 43.50% | 22,288,451 | -78.12% | | **Basic Earnings Per Share (RMB/share)** | 0.07 | 40.00% | 0.04 | -63.64% | | **Total R&D Investment** | 71,029,256 | 0.37% | 177,874,093 | -0.22% | | **R&D Investment as % of Operating Revenue (%)** | 15.96% | Decreased by 7.70 percentage points | 24.83% | Decreased by 0.71 percentage points | | Item | End of Current Period (RMB Yuan) | End of Previous Year (RMB Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Assets** | 2,908,473,496 | 2,781,172,268 | 4.58% | | **Total Equity Attributable to Shareholders of the Listed Company** | 2,216,277,478 | 2,192,945,932 | 1.06% | [Non-Recurring Gains and Losses](index=3&type=section&id=%E9%9D%9E%E7%B6%93%E5%B8%B8%E6%80%A7%E6%90%8D%E7%9B%8A%E9%A0%85%E7%9B%AE%E5%92%8C%E9%87%91%E9%A1%8D) In the first three quarters of 2022, the company recorded total non-recurring gains of approximately RMB 14.54 million, primarily from structured deposit interest and government grants | Item | Amount Year-to-Date (RMB Yuan) | Description | | :--- | :--- | :--- | | Fair Value Changes and Investment Income from Financial Assets | 14,026,034 | Primarily interest from the Group's structured deposits | | Government Grants Recognized in Current Profit/Loss | 2,481,052 | / | | Gains/Losses on Disposal of Non-Current Assets | 1,381,059 | / | | Other Non-Operating Income and Expenses | -787,646 | / | | **Total** | **14,535,394** | / | [Analysis of Changes in Key Financial Indicators](index=3&type=section&id=%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E8%B3%87%E6%96%99%E3%80%81%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E7%99%BC%E7%94%9F%E8%AE%8A%E5%8B%95%E7%9A%84%E6%83%85%E6%B3%81%E3%80%81%E5%8E%9F%E5%9B%A0) Q3 revenue and profit growth were driven by post-epidemic recovery, while year-to-date net profit decline was primarily due to increased share-based payment expenses, and operating cash flow improved from extended payment cycles - Operating revenue and related profit indicators in the current reporting period (Q3) significantly increased year-on-year, primarily due to the recovery of drug production and sales after the Shanghai epidemic was brought under control[5](index=5&type=chunk) - Year-to-date, net profit attributable to parent company decreased by **68.95%** year-on-year, and non-recurring net profit attributable to parent company decreased by **78.12%**, mainly due to share-based payment expenses of **RMB 68.4417 million**, compared to **RMB 23.7992 million** in the same period last year[5](index=5&type=chunk) - Year-to-date, net cash flow from operating activities increased by **33.40%** year-on-year, primarily due to extended payment cycles for accounts payable[5](index=5&type=chunk) [Shareholder Information](index=4&type=section&id=%E8%82%A1%E6%9D%B1%E4%BF%A1%E6%81%AF) As of the reporting period end, the company had 21,351 common shareholders, with the top five shareholders holding over 70% of shares [Shareholder Profile and Top Ten Shareholders](index=4&type=section&id=%E8%82%A1%E6%9D%B1%E6%A6%82%E6%B3%81%E8%88%87%E5%89%8D%E5%8D%81%E5%A4%A7%E8%82%A1%E6%9D%B1) As of the reporting period end, the company had 21,351 common shareholders, with a concentrated equity structure where the top five shareholders collectively held over 70% of shares - As of the end of the current reporting period, the company had a total of **21,351** common shareholders, including **21,211** A-share holders and **140** H-share holders[6](index=6&type=chunk) | Shareholder Name | Shareholding (%) | Number of Shares Held | | :--- | :--- | :--- | | HKSCC NOMINEES LIMITED | 21.79 | 224,234,900 | | Shanghai Pharmaceuticals Holding Co., Ltd. | 20.42 | 210,142,560 | | Xinqi Phase II Venture Capital Enterprise | 15.25 | 156,892,912 | | Yang Zongmeng | 7.77 | 80,000,000 | | Wang Haibo | 5.63 | 57,886,430 | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) The company's total assets increased by 4.58% to RMB 2.91 billion, while total liabilities rose by 17.59% to RMB 695.64 million, and net profit attributable to parent company declined by 68.95% year-to-date [Consolidated Balance Sheet](index=6&type=section&id=%E5%90%88%E4%BD%B5%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of September 30, 2022, total assets reached RMB 2.91 billion, increasing by 4.58% driven by construction in progress, while total liabilities grew by 17.59% due to higher other payables | Item | September 30, 2022 (RMB Yuan) | December 31, 2021 (RMB Yuan) | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **2,908,473,496** | **2,781,172,268** | **+4.58%** | | Cash and Cash Equivalents | 1,237,143,906 | 1,208,880,911 | +2.34% | | Construction in Progress | 112,124,690 | 48,899,044 | +129.29% | | **Total Liabilities** | **695,635,874** | **591,582,298** | **+17.59%** | | Other Payables | 577,314,935 | 443,978,184 | +30.03% | | **Total Equity Attributable to Parent Company Owners** | **2,216,277,478** | **2,192,945,932** | **+1.06%** | [Consolidated Income Statement](index=8&type=section&id=%E5%90%88%E4%BD%B5%E5%88%A9%E6%BD%A4%E8%A1%A8) In the first three quarters of 2022, total operating revenue slightly increased by 2.6%, but rising operating costs led to a 73.46% decline in operating profit and a 68.95% drop in net profit attributable to parent company | Item | First Three Quarters of 2022 (RMB Yuan) | First Three Quarters of 2021 (RMB Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | **Total Operating Revenue** | **716,265,980** | **698,113,963** | **+2.60%** | | **Total Operating Costs** | **667,789,596** | **592,930,829** | **+12.62%** | | Of which: Selling Expenses | 383,823,070 | 346,570,728 | +10.75% | | Administrative Expenses | 55,061,168 | 38,043,903 | +44.73% | | R&D Expenses | 171,893,365 | 159,207,486 | +8.00% | | **Operating Profit** | **30,756,721** | **115,898,651** | **-73.46%** | | **Net Profit Attributable to Parent Company Shareholders** | **36,823,845** | **118,614,270** | **-68.95%** | | **Basic and Diluted Earnings Per Share (RMB/share)** | **0.04** | **0.11** | **-63.64%** | [Consolidated Cash Flow Statement](index=9&type=section&id=%E5%90%88%E4%BD%B5%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, net cash flow from operating activities increased by 33.40% to RMB 196.18 million, while net cash outflow from investing activities significantly narrowed | Item | First Three Quarters of 2022 (RMB Yuan) | First Three Quarters of 2021 (RMB Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | **196,182,795** | **147,058,878** | **+33.40%** | | **Net Cash Flow from Investing Activities** | **-79,977,072** | **-535,542,863** | Not Applicable | | **Net Cash Flow from Financing Activities** | **-88,302,716** | **-88,889,372** | Not Applicable | | **Net Increase in Cash and Cash Equivalents** | **28,262,995** | **-477,392,996** | Not Applicable | | **Cash and Cash Equivalents at Period End** | **1,237,143,906** | **919,497,196** | **+34.55%** | [Other Important Information](index=5&type=section&id=Other%20Important%20Information) The company reported no other significant operational information requiring investor attention, and the quarterly report was approved by the Board of Directors on October 27, 2022 [Other Important Reminders](index=5&type=section&id=%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A0%85) The company has no other significant information regarding its operations that requires investor attention during the current reporting period - The company has no other significant information regarding its operations that requires investor attention during the current reporting period[7](index=7&type=chunk) [Board of Directors Information](index=10&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83%E4%BF%A1%E6%81%AF) The quarterly report was approved by the Board of Directors on October 27, 2022, with a detailed list of executive, non-executive, and independent non-executive directors - These financial statements were approved for issuance by the Company's Board of Directors on **October 27, 2022**[13](index=13&type=chunk) - Board members include Executive Directors Wang Haibo, Su Yong, Zhao Dajun; Non-Executive Directors Shen Bo, Yu Xiaoyang; and Independent Non-Executive Directors Zhou Zhonghui, Lin Yaojian, Xu Qing, Yang Chunbao[14](index=14&type=chunk)

第四科江 FUDAN-ZHANGJIANG 上 海 復 旦 張 江 生 物 醫 藥 股 份 有 限 公 司 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. * (於中華人民共和國註冊成立的股份有限公司) ( 股票號碼：1349) 載 至 二 零 二 二 年 六 月 三 十 日 止 六 個 月 中 期 報 告 * 僅供識別 公司主要財務指標 一、公司主要會計數據和財務指標 （一）五年財務摘要 | --- | --- | --- | --- | --- | --- | |---------------------------------------------|-------------------------------------------|-------------------------|-------------------------|-----------------------------------------------|-----------------------| | | | | | | | | 業績 | | | 未經審核 ...

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].

Financial Performance - The company's operating revenue for Q1 2022 was ¥140,805,956, representing an increase of 11.57% compared to the same period last year[6]. - The net profit attributable to shareholders of the listed company was ¥4,925,903, showing a decrease of 3.74% year-on-year[6]. - Total operating revenue for Q1 2022 reached 140,805,956, an increase from 126,203,456 in Q1 2021, representing a growth of approximately 11.3%[34]. - Total revenue for the first quarter of 2022 was 4,810,020, a decrease from 4,965,493 in the same period of 2021, representing a decline of approximately 3.1%[37]. - Net profit attributable to shareholders of the parent company was 4,925,903, down from 5,117,336 in the previous year, reflecting a decrease of about 3.7%[37]. - The total comprehensive income for the first quarter was 4,347,867, compared to 6,934,321 in the prior year, indicating a decline of approximately 37.4%[37]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥17,207,380, indicating a negative cash flow situation[6]. - Cash flow from operating activities showed a net outflow of -17,207,380, an improvement from -24,454,235 in the same quarter of 2021[42]. - Cash flow from investing activities resulted in a net outflow of -39,748,258, worsening from -9,644,302 in the previous year[45]. - Cash and cash equivalents as of March 31, 2022, were 1,149,749,936, down from 1,208,880,911 as of December 31, 2021, a decrease of about 4.9%[25]. - Cash and cash equivalents at the end of the period were 1,149,749,936, down from 1,361,182,929 at the end of the first quarter of 2021[45]. - Operating cash inflows totaled 200,904,381, a decrease from 212,240,034 in the same quarter of the previous year, representing a decline of about 5.6%[42]. - The company reported a significant increase in cash received from other operating activities, amounting to 10,966,677, compared to 1,259,618 in the previous year[42]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,713,750,038, down 2.42% from the end of the previous year[9]. - Total assets as of March 31, 2022, were 2,713,750,038, a decrease from 2,781,172,268 as of December 31, 2021, representing a decline of approximately 2.4%[28]. - Total liabilities as of March 31, 2022, were 522,411,151, down from 591,582,298 as of December 31, 2021, indicating a reduction of about 11.7%[31]. - Non-current assets totaled 883,055,093 as of March 31, 2022, compared to 853,226,490 as of December 31, 2021, reflecting an increase of approximately 3.5%[28]. - The company's total equity as of March 31, 2022, was 2,191,338,887, slightly up from 2,189,589,970 as of December 31, 2021, indicating a marginal increase of about 0.1%[31]. Research and Development - Research and development expenses totaled ¥49,712,480, accounting for 35.31% of operating revenue, a decrease of 5.22 percentage points from the previous year[9]. - Research and development expenses in Q1 2022 amounted to 48,439,435, compared to 45,724,591 in Q1 2021, reflecting a rise of approximately 5.9%[34]. Operational Challenges - The company faced operational challenges due to COVID-19 restrictions in Shanghai, leading to temporary closure of offices and factories[21]. - The company is included in the "whitelist" for resuming work and production in Shanghai, indicating a plan to mitigate the impact of the pandemic[21]. - The company received government subsidies amounting to ¥873,484, closely related to its normal business operations[10]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,383[14]. - The weighted average return on net assets was 0.22%, a decrease of 0.03 percentage points compared to the previous year[9].