Financial Data and Key Metrics Changes - The company has maintained a stable growth in its main business despite challenges in the biopharmaceutical market, with personnel expansion and per capita revenue remaining stable [10][44] - The overall industry environment has shown signs of improvement, with expectations for a recovery in performance [14][44] Business Line Data and Key Metrics Changes - The company's clinical trial technical services and related laboratory services have shown good growth, with a focus on expanding capabilities in both traditional and emerging business areas [22][26] - The number of clinical research projects has increased, with over 3,500 clinical operation projects reported by the end of 2023 [36] Market Data and Key Metrics Changes - The global financing environment for the biopharmaceutical industry has improved, with significant year-on-year increases in financing amounts across various sectors [15][14] - The domestic market is still recovering, with a lag compared to global trends, particularly in the context of investment recovery [33][44] Company Strategy and Development Direction and Industry Competition - The company aims to consolidate its leading position in the domestic market while also facilitating the internationalization of domestic innovative products [43][44] - The industry is experiencing increased concentration, with larger companies like the company expected to gain market share as smaller firms face challenges [18][19] Management's Comments on Operating Environment and Future Outlook - Management noted that the macroeconomic environment has improved, leading to a more optimistic outlook for the industry, particularly regarding interest rates and investment conditions [14][44] - The company is positioned to benefit from supportive domestic policies for innovation in the biopharmaceutical sector [16][17] Other Important Information - The company has established a fund to invest in early-stage biopharmaceutical and medical device startups, enhancing its long-term strategic partnerships [29] - The company has a robust network of clinical research centers, with over 150 offices in China and partnerships with more than 1,380 clinical institutions [40][41] Q&A Session Summary Question: What is the revenue breakdown between domestic and international markets for the company? - The company indicated that approximately 15% of its revenue comes from pure international sources, with the remainder primarily from domestic clients [45][46] Question: How does the company view the risks associated with its investment returns? - Management acknowledged the risks in the investment sector due to a prolonged downturn in the primary market, affecting project valuations and potential returns [48]

Financial Performance - In 2023, the company's revenue increased to RMB 7,384.0 million, a year-on-year growth of 4.2% from RMB 7,085.5 million in 2022[5] - Adjusted net profit attributable to shareholders reached RMB 1,786.0 million, reflecting a year-on-year increase of 7.2%[5] - The gross profit for 2023 was RMB 2,820.6 million, a 1.3% increase compared to RMB 2,785.4 million in the previous year[12] - The net profit attributable to the company's owners was RMB 2,026.5 million, showing a slight increase of 0.5% from RMB 2,016.1 million in 2022[12] - The adjusted net profit attributable to the company's owners was RMB 1,786.0 million, reflecting a 7.2% increase from RMB 1,665.8 million in 2022[12] - The total order amount for 2023 was RMB 7,852 million, a decline of 18.8% compared to the previous year, primarily due to order cancellations and a significant drop in handling fees[23] - The company's backlog as of December 31, 2023, was RMB 14,080 million, reflecting a year-on-year increase of 2.1%[23] - The net profit for the year decreased by 5.7% to RMB 2,151.6 million, mainly due to increased sales costs and marketing expenses[62] - The effective tax rate rose from 12.1% to 13.6%, influenced by changes in certain other income items that were not fully taxable[61] Revenue Sources - Revenue from clinical trial technical services amounted to RMB 4,168.1 million, with a year-on-year growth of 1.0%[5] - Revenue from clinical trial-related services and laboratory services reached RMB 3,215.9 million, showing a year-on-year increase of 8.6%[5] - Clinical trial-related services and laboratory services generated revenue of RMB 3,215.9 million, an increase of 8.6% from RMB 2,960.3 million in the same period last year[40] Market Position and Growth - The company maintained its market leadership in China's clinical CRO industry, servicing 22 Class 1 new drugs and 6 innovative medical devices in 2023[5] - Cumulatively, the company has provided services for 61% of China's listed Class 1 new drug developments since its establishment in 2004[5] - The company is optimistic about the post-pandemic "new normal" and expects improvements in the industry environment in 2024[19][21] - The company continues to maintain its leading position in China's clinical contract research organization industry despite challenges from the COVID-19 vaccine revenue decline[23] - The company has achieved a market share of 61% in providing services for newly listed Class I drugs in China from 2004 to 2023[100] International Expansion - The company established an international headquarters in Hong Kong in 2023, expanding its global operational footprint to 28 countries with 1,632 overseas employees[6] - The company expanded its international operations, opening an international headquarters in Hong Kong and significantly increasing clinical trial service revenue in the U.S.[26] - The company has formed strategic alliances with 52 clinical trial excellence centers, establishing 224 core cooperation centers nationwide by December 31, 2023[101] Employee and Operational Growth - The company has over 9,000 employees contributing to its robust growth and resilience in a challenging environment[5] - The total number of employees increased to 9,701 as of December 31, 2023, up from 9,455 as of June 30, 2023, reflecting a growth strategy in key overseas markets[50] - The number of ongoing drug clinical research projects rose from 680 as of December 31, 2022, to 752 as of December 31, 2023[31] - The number of clients served by the registration team increased from 649 to 720, completing 1,009 project experiences, and assisting 9 products in obtaining approval in China in 2023[35] Research and Development - The company is advancing its three major development strategies: globalization, integration, and digitization[4] - The company plans to enhance its integrated R&D service platform and expand its global market share through acquisitions and partnerships with multinational pharmaceutical companies[22] - The company has established integrated R&D service platforms for pharmaceuticals and medical devices, covering the entire lifecycle from drug discovery to post-market studies[98] Financial Health and Investments - The total assets of the company as of December 31, 2023, were RMB 29,680.7 million, an 8.1% increase from RMB 27,446.5 million in 2022[13] - The company's cash and cash equivalents decreased by 4.9% to RMB 7,399.9 million from RMB 7,782.7 million in 2022[13] - The company realized gains of RMB 546.1 million from exits in investments during the reporting period, significantly higher than RMB 162.8 million in the same period last year[82] - The company is a strategic investor in 170 innovative companies in the healthcare sector and a limited partner in 55 professional investment funds as of December 31, 2023[81] Risks and Challenges - The company faces potential risks from natural disasters, pandemics, and other emergencies that could adversely affect its operations, financial condition, and performance[115] - A decline in demand for biopharmaceutical research services could significantly impact the company's business, financial condition, and performance if trends in the pharmaceutical market reverse[116] - Increased competition in the global clinical contract research organization market may lead to pricing pressure, affecting the company's revenue and profitability[117] - The company anticipates continued business growth, necessitating effective management of expansion strategies to avoid adverse impacts on its financial condition and performance[117] Corporate Governance - The company has a strong governance structure with independent directors overseeing financial and operational matters[143] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring effective governance[154] - The company has adopted corporate governance practices in line with the principles outlined in the listing rules, maintaining high standards of governance[150] - The company emphasizes the importance of good corporate governance in enhancing management and protecting shareholder interests[150] Environmental, Social, and Governance (ESG) Initiatives - The company received an AAA rating from the Shenzhen Stock Exchange for its ESG governance and improved its MSCI ESG rating to AA[10] - The company published the "Tigermed ESG Guidelines," covering anti-corruption, employee rights, customer rights, environmental protection, and social welfare[190] - The company is committed to improving its ESG performance, with specific short-term and long-term improvement goals outlined[191]

Financial Performance - The company's revenue for Q1 2024 was ¥1,660,204,321.44, a decrease of 8.00% compared to ¥1,804,571,375.28 in the same period last year[5] - Net profit attributable to shareholders was ¥235,072,002.70, down 58.65% from ¥568,455,092.87 year-on-year[5] - The basic and diluted earnings per share decreased by 59.09% to ¥0.27 from ¥0.66 in the same period last year[5] - The net profit for Q1 2024 was CNY 312,570,373.39, a decrease of 45.0% compared to CNY 568,325,660.27 in Q1 2023[24] - The operating profit for Q1 2024 was CNY 362,196,228.41, a decline of 42.6% from CNY 630,897,782.90 in Q1 2023[24] - The company reported a total comprehensive income of CNY 290,331,159.48 for Q1 2024, down from CNY 521,771,775.19 in Q1 2023[24] - The total revenue from operating activities was CNY 1,476,940,313.67, down 3.2% from CNY 1,525,588,216.35 in the previous year[26] Cash Flow - The net cash flow from operating activities increased significantly by 405.83%, reaching ¥144,204,460.07 compared to ¥28,508,219.40 in the previous year[9] - The cash flow from operating activities generated a net amount of CNY 144,204,460.07, significantly up from CNY 28,508,219.40 in the same period last year[26] - The cash flow from investing activities showed a net outflow of CNY 119,716,564.11, an improvement from a net outflow of CNY 547,512,821.57 in the previous year[26] - The cash flow from financing activities generated a net inflow of CNY 2,424,771.97, a significant decrease from CNY 302,161,242.23 in Q1 2023[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥30,070,185,491.17, reflecting a 1.31% increase from ¥29,680,742,349.17 at the end of the previous year[5] - The total assets as of March 31, 2024, amounted to CNY 30,070,185,491.17, up from CNY 29,680,742,349.17 at the beginning of the year[22] - The total liabilities increased to CNY 5,536,893,616.67 from CNY 5,227,180,203.91, indicating a rise in financial obligations[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 66,740[11] - The largest shareholder, Ye Xiaoping, holds 20.49% of shares, totaling 177,239,541 shares[11] - The second largest shareholder, HKSCC NOMINEES LIMITED, holds 14.23% of shares, totaling 123,116,179 shares[11] - The top 10 shareholders account for a significant portion of the company's equity, with the top three alone holding over 40%[11] - The company has no preferred shareholders as indicated by the absence of any in the report[16] Investment and Income - The company reported a significant decrease in investment income, down 113.93% to -¥3,591,151.18 from ¥25,784,682.29 year-on-year[8] - The fair value change income dropped by 92.77% to ¥12,753,272.78 compared to ¥176,412,728.63 in the previous year, primarily due to a decline in the stock prices of other non-current financial assets[8] - The company received government subsidies amounting to ¥12,209,543.65 during the reporting period, contributing to an increase in other income by 198.25%[8] Cost Management - Total operating costs for Q1 2024 were CNY 1,305,287,804.37, down from CNY 1,360,291,377.24, reflecting a cost reduction strategy[23] - Research and development expenses for Q1 2024 were CNY 63,906,152.52, slightly down from CNY 64,519,361.97, indicating a focus on cost management in R&D[23] Equity and Share Restrictions - The company’s equity attributable to shareholders increased to CNY 21,131,829,587.05 from CNY 21,026,774,725.75, reflecting a positive trend in shareholder value[22] - The total number of restricted shares held by Ye Xiaoping is 132,929,656, which is subject to a 25% annual release[17] - The total number of restricted shares held by Cao Xiaochun is 38,746,330, also subject to a 25% annual release[17] - The company has a total of 171,687,044 restricted shares across all shareholders[17] - There were no changes in the number of restricted shares during the reporting period[17] - The report indicates no participation in margin financing by the top shareholders[12] Future Outlook - The company plans to continue exploring market expansion opportunities and new product development as part of its growth strategy[19]

Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,660,204,321.44, representing a decrease of 8.00% compared to the same period last year[10]. - Net profit attributable to shareholders for Q1 2024 was CNY 235,072,002.70, down 58.65% year-on-year[10]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 303,052,196.14, a decrease of 20.50% compared to the previous year[10]. - Basic earnings per share for Q1 2024 were CNY 0.27, down 59.09% year-on-year[10]. - Operating profit for the current period was ¥362,196,228.41, a decline of 42.67% compared to ¥630,897,782.90 in the previous period[46]. - Net profit for the current period was ¥312,570,373.39, down 45.03% from ¥568,325,660.27 in the previous period[46]. - Total comprehensive income for the current period was ¥290,331,159.48, down 44.24% from ¥521,771,775.19 in the previous period[48]. - The company reported a decrease in investment income, recording a loss of ¥3,591,151.18 compared to a gain of ¥25,784,682.29 in the previous period[45]. Cash Flow - The net cash flow from operating activities increased significantly to CNY 144,204,460.07, up 405.83% from the same period last year[10]. - Net cash flow from operating activities rose significantly by 405.83% to 144,204,460.07 CNY, mainly due to reduced operating expenditures[19]. - Cash inflow from operating activities totaled $1.55 billion, a decrease of 4.94% compared to $1.63 billion in the previous period[52]. - Cash outflow from operating activities decreased to $1.41 billion from $1.60 billion, indicating better cost management[52]. - Investment activities generated a net cash flow of -$119.72 million, an improvement from -$547.51 million in the previous period[54]. - The net increase in cash and cash equivalents was $21.84 million, a turnaround from a decrease of $227.95 million in the previous period[55]. - The ending balance of cash and cash equivalents was $7.42 billion, slightly down from $7.55 billion in the previous period[55]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 30,070,185,491.17, an increase of 1.31% from the end of the previous year[10]. - Total current assets increased to ¥11,661,670,938.83 from ¥11,344,141,125.21, reflecting a growth of approximately 2.8%[37]. - Total non-current assets rose to ¥18,408,514,552.34 from ¥18,336,601,223.96, indicating an increase of approximately 0.4%[38]. - Total liabilities increased to ¥4,463,914,497.71 from ¥4,138,736,291.58, reflecting a growth of approximately 7.8%[40]. - Total liabilities increased to ¥5,536,893,616.67 from ¥5,227,180,203.91, reflecting a growth of 5.92%[42]. - Total equity attributable to shareholders of the parent company rose to ¥21,131,829,587.05 from ¥21,026,774,725.75, an increase of 0.50%[42]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 66,740[21]. - The top shareholder, Ye Xiaoping, holds 20.49% of shares, totaling 177,239,541 shares[23]. - The company has maintained a stable number of restricted shares at 171,687,044.00, with no new additions or removals during the reporting period[33]. Other Financial Metrics - Financial expenses increased by 37.34% to -21,920,357.75 CNY due to exchange rate fluctuations impacting foreign exchange gains[18]. - Other income surged by 198.25% to 15,369,745.78 CNY primarily from increased government subsidies received during the reporting period[18]. - Fair value changes in financial assets decreased by 92.77% to 12,753,272.78 CNY, attributed to declines in the stock prices of other non-current financial assets[18]. - Other comprehensive income after tax for the current period was -¥22,239,213.91, compared to -¥46,553,885.08 in the previous period[46]. Future Plans and Changes - The company plans to expand its market presence and enhance product offerings, although specific figures were not disclosed[34]. - The company plans to implement new accounting standards starting in 2024, which may impact financial reporting[56]. - The first quarter report was not audited, indicating preliminary financial results[56].

Financial Performance - Tigermed reported a revenue increase of 25% year-over-year, reaching CNY 3.5 billion in 2023[19]. - The company reported a net profit margin of 15%, up from 12% in the previous year[19]. - The company's operating revenue for 2023 was approximately ¥7.38 billion, representing a 4.21% increase compared to ¥7.09 billion in 2022[29]. - The net profit attributable to shareholders for 2023 was approximately ¥2.02 billion, a slight increase of 0.91% from ¥2.01 billion in 2022[29]. - The company reported quarterly revenues of ¥1.80 billion, ¥1.91 billion, ¥1.94 billion, and ¥1.73 billion for Q1, Q2, Q3, and Q4 respectively in 2023[31]. - The company’s main business revenue for 2023 was 7,289.11 million CNY, a year-on-year increase of 4.11% from 7,001.54 million CNY in the previous year[65]. - Total revenue for 2023 reached CNY 7,384,039,460.88, representing a year-on-year increase of 4.21% compared to CNY 7,085,471,468.87 in 2022[82]. Strategic Initiatives - The report outlines the company's strategic focus on expanding its market presence and enhancing its research capabilities through new product development[17]. - Tigermed plans to enter three new international markets, including Brazil, Mexico, and South Africa, by the end of 2024[20]. - The company is actively pursuing partnerships and collaborations to leverage resources and support its growth strategy[16]. - The company has established several wholly-owned subsidiaries to strengthen its operational framework and enhance service delivery[17]. - The company plans to enhance its integrated R&D service platform and expand its business units based on therapeutic areas or drug types to drive long-term growth[57]. Research and Development - The company is investing CNY 500 million in new product development and technology research in 2024[19]. - The company has accumulated over 3,500 clinical operation projects, including more than 700 Phase I clinical studies for new drugs in China and over 120 international multi-center clinical studies by the end of 2023[50]. - The company has witnessed a significant increase in R&D investment in the medical device sector, driven by new infrastructure, overseas revenue growth, and domestic substitution policies[46]. - The number of R&D personnel increased to 934 in 2023, a rise of 17.48% compared to 795 in 2022[92]. - The company has established integrated research service platforms for both pharmaceuticals and medical devices, enhancing collaboration and reducing communication costs in the R&D process[51]. Market Trends - The global pharmaceutical market is projected to grow from approximately USD 1.6 trillion in 2023 to USD 1.9 trillion by 2027, driven by increasing demand for innovative therapies[42]. - The CRO market size is expected to reach USD 102.65 billion by 2025, growing from USD 77.57 billion in 2022, reflecting a compound annual growth rate (CAGR) of approximately 9.5%[42]. - The number of clinical trials in China increased by 26.81% year-on-year, from 3,316 in 2022 to 4,205 in 2023[44]. - In 2023, 40 Class 1 new drugs were approved in China, marking a record high for the country[44]. Corporate Governance - The company emphasizes the accuracy and completeness of its financial report, with all board members present for the meeting[4]. - The report indicates a strong commitment to corporate governance and social responsibility initiatives[5]. - The company has implemented a business continuity management plan to mitigate risks from unforeseen events, although its effectiveness remains uncertain[115]. - The company has maintained independence from its controlling shareholder, ensuring no interference in decision-making or operations[131]. - The company emphasizes the importance of compliance with laws and regulations, as failure to adhere could lead to significant adverse effects on its business and financial status[118]. Employee and Talent Management - The company aims to increase its workforce by 20% to support its expansion and new projects[19]. - The company continues to focus on attracting, training, and retaining skilled personnel, as talent is crucial for maintaining service quality and meeting growth expectations[121]. - The total number of employees at the end of the reporting period is 9,701, with 2,042 in the parent company and 7,659 in major subsidiaries[160]. - The company has a total of 314 sales personnel, indicating a focused sales team[160]. Financial Policies and Dividends - The company plans to distribute a cash dividend of 5.68 CNY per 10 shares to all shareholders, based on a total of 864,948,570 shares[5]. - The cash dividend distribution represents 100% of the total distributable profit for the year, which amounts to approximately 8.77 billion RMB[165]. - The company has a robust cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring transparency and compliance[165]. Risks and Challenges - The company faces risks related to the potential decline in demand for biopharmaceutical research services, which could adversely affect its business and financial performance[116]. - Increased competition in the global clinical contract research organization market may pressure pricing and impact revenue and profitability[117]. - The company is exposed to foreign exchange risks, particularly with USD, which could negatively affect revenue growth and profit margins if the RMB appreciates significantly against the USD[123]. - The company acknowledges the potential for increased personnel costs as it competes for qualified talent in the CRO market[121]. Transparency and Reporting - The financial report will be made available on the designated website of the China Securities Regulatory Commission, ensuring transparency[12]. - The company disclosed a total of 4 periodic reports and 77 temporary announcements during the reporting period, ensuring transparency[129]. - The company has not engaged in any derivative investments or significant asset sales during the reporting period[109][111].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 7,384.0 million, representing a 4.2% increase from RMB 7,085.5 million in 2022[2] - Adjusted net profit attributable to the company's owners increased by 7.2% to RMB 1,786.0 million from RMB 1,665.8 million in the previous year[2] - The company's net profit for the year decreased by 5.7% year-on-year from RMB 2,281.3 million to RMB 2,151.6 million, primarily due to increased sales costs and marketing expenses[47] - The profit attributable to the company's owners for 2023 was RMB 2,026.5 million, slightly up from RMB 2,016.1 million in 2022[52] - The company's gross profit was RMB 2,820.6 million, slightly up from RMB 2,785.4 million, with a gross margin decrease from 39.3% to 38.2%[35] - The company's total equity rose to RMB 24,453,562,000, an increase of 7.82% from RMB 22,681,028,000 in 2022[145] - The company's total assets as of December 31, 2023, amounted to RMB 25,542,006 thousand, up from RMB 23,716,941 thousand in 2022, reflecting a growth of 7.71%[134] Revenue Breakdown - Revenue from clinical trial-related services and laboratory services increased by 8.6% year-on-year, reaching RMB 3,215.9 million[19] - Revenue from the company's operations in China grew by 17.6% year-on-year, amounting to RMB 4,234.5 million, driven by its leading position in the clinical services market[19] - Revenue from clinical trial technical services was RMB 4,168,128,000, up from RMB 4,125,199,000, reflecting a growth of 1.04%[150] - Revenue from clinical trial related services and laboratory services increased significantly to RMB 3,215,911,000, a rise of 8.59% from RMB 2,960,272,000 in 2022[150] Assets and Liabilities - Total assets rose by 8.1% to RMB 29,680.7 million, compared to RMB 27,446.5 million in 2022[3] - The company's trade receivables and other receivables increased by 20.4% to RMB 1,428.2 million, driven by growth in business activities[59] - The company's contract assets rose by 18.4% to RMB 2,364.4 million, reflecting an increase in total contract amounts with clients[61] - The company's outstanding borrowings reached RMB 2,800.6 million as of December 31, 2023, with RMB 2,366.4 million classified as short-term borrowings[72] - The debt-to-equity ratio was reported at 11.5% as of December 31, 2023[73] Investments and Acquisitions - The company plans to enhance its end-to-end service capabilities and expand its global market share through mergers and acquisitions and by establishing business units based on therapeutic areas[11] - The company has committed additional capital of RMB 7.5 billion to invest in Hangzhou Taikun, a joint venture, as of December 31, 2023[77] - The company is a strategic investor in 170 innovative companies in the healthcare sector and a limited partner in 55 professional investment funds as of December 31, 2023[68] - The company plans to continue selective acquisitions and investments to achieve business growth, but failure to identify suitable targets or implement transactions successfully could adversely affect its financial performance[107] Research and Development - Research and development expenses increased by 11.5% year-on-year from RMB 234.6 million to RMB 261.6 million, attributed to a rise in the number of employees involved in R&D activities and their compensation[43] - The company has established integrated R&D service platforms for both pharmaceuticals and medical devices, covering the entire lifecycle of product development[85] - The company is investing heavily in R&D, with a budget allocation of 20 million USD for the development of new technologies[190] Market Trends and Outlook - The global pharmaceutical market is projected to reach approximately $1.6 trillion in 2023 and is expected to grow to $1.9 trillion by 2027, driven by aging populations and rising chronic non-communicable diseases[92] - The company anticipates further improvement in industry trends and the macro environment in the upcoming year[9] - Future outlook indicates a projected revenue growth of 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[190] Compliance and Governance - The company has adopted the principles and provisions of the corporate governance code and has complied with its provisions during the reporting period[115] - The board approved a proposal to change the use of proceeds to better allocate financial resources and seize domestic market opportunities[120] - The company is committed to adhering to international financial reporting standards to ensure transparency and accuracy in financial reporting[188] Employee and Talent Management - The total number of employees increased from 9,455 as of June 30, 2023, and 9,233 as of December 31, 2022, to 9,701 as of December 31, 2023[38] - Attracting, training, motivating, and retaining skilled personnel is essential for the company's success, especially in the competitive pharmaceutical and medical device sectors[108] - The company acknowledges the limited supply of qualified personnel in the industry, necessitating competitive compensation and benefits to attract and retain talent[108] Risks and Challenges - The company faces risks from potential natural disasters, pandemics, and regulatory changes that could impact operations and financial performance[99][101] - Increased competition in the global clinical contract research organization market may pressure pricing and affect revenue and profitability[101] - The company faces risks related to obtaining and renewing necessary regulatory approvals, licenses, and certifications, which are critical for its operations[105]

Financial Performance - The company's revenue for Q3 2023 reached ¥1,939,627,566.42, representing a 7.05% increase year-over-year[2] - Net profit attributable to shareholders was ¥491,267,423.96, up 19.05% compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses decreased by 3.75% to ¥404,950,398.38[2] - Total operating revenue for Q3 2023 reached ¥5,650,477,938.01, an increase of 4.52% compared to ¥5,406,018,843.59 in Q3 2022[16] - Gross profit for the period was ¥1,508,291,382.87, reflecting a gross margin of approximately 26.64%[16] - The company's net profit for Q3 2023 reached CNY 2,027,846,971.74, an increase of 14.4% compared to CNY 1,772,234,409.94 in Q3 2022[17] - Operating profit for the quarter was CNY 2,311,724,272.62, up from CNY 2,001,007,232.46 in the same period last year, reflecting a growth of 15.6%[17] - Basic and diluted earnings per share for the quarter were both CNY 2.17, compared to CNY 1.86 in the previous year, representing a growth of 16.7%[18] Assets and Liabilities - Total assets increased by 9.57% to ¥30,072,449,412.86 compared to the end of the previous year[2] - The company's total assets increased to ¥30,072,449,412.86, compared to ¥27,446,510,596.44 at the end of Q3 2022, marking a growth of 9.4%[15] - Total liabilities rose to ¥5,521,215,888.56, up from ¥4,765,479,654.95, indicating an increase of 15.87%[15] - The company's total equity reached ¥24,551,233,524.30, up from ¥22,681,030,941.49, marking a growth of 8.25%[15] Cash Flow - The company reported a net cash flow from operating activities of ¥672,644,481.56, down 18.51% year-to-date[2] - The cash inflow from operating activities was CNY 5,303,391,474.82, while cash outflow was CNY 4,630,746,993.26, resulting in a net cash inflow of CNY 672,644,481.56[19] - Net cash flow from operating activities for Q3 2023 was approximately ¥672.64 million, a decrease from ¥825.39 million in Q3 2022[20] - Net cash flow from investing activities decreased by 33.94% to -1,592,504,848.56 CNY compared to the same period last year[7] - The net cash flow from investing activities was -¥1.59 billion, improving from -¥2.41 billion year-over-year[20] - Total cash inflow from financing activities increased to approximately ¥3.06 billion, compared to ¥2.95 billion in the previous year[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 56,356, with the largest shareholder, Ye Xiaoping, holding 20.32% of shares, equating to 177,239,541 shares[8] - The top ten shareholders collectively hold significant stakes, with HKSCC NOMINEES LIMITED owning 14.11% (123,119,379 shares) and Hong Kong Central Clearing Limited holding 6.12% (53,420,466 shares)[8] - The company reported a total of 181,907,044 shares under lock-up agreements at the end of the reporting period, with 4,125,000 shares released during the current period[12] - The company is actively managing its shareholder structure, with notable actions taken by major shareholders, including share pledges and lock-up agreements[12] Investments and R&D - The company plans to expand its investment in joint ventures, leading to a 61.05% increase in long-term equity investments to ¥2,898,551,203.83[5] - Research and development expenses for the period were ¥195,343,150.53, compared to ¥171,055,447.09 in the previous year, indicating an increase of 14.2%[16] Other Financial Metrics - The company received government subsidies amounting to ¥10,521,363.70 year-to-date, which contributed to its financial performance[3] - The company's cash and cash equivalents amounted to 7,417,101,360.17 CNY, a decrease from 7,858,139,864.36 CNY at the beginning of the year[13] - Accounts receivable increased to 1,176,009,099.35 CNY from 1,027,789,335.66 CNY, indicating a growth in sales or credit terms extended to customers[13] - The company's cash and cash equivalents were reported at ¥11,465,404,979.73, a slight increase from ¥11,107,248,144.90 year-over-year[15] - Inventory levels increased to ¥27,238,796.09, compared to ¥22,204,440.32 in the previous year, representing a growth of 22.73%[15] Changes and Standards - The company did not undergo an audit for the Q3 report[20] - The company implemented new accounting standards starting in 2023, affecting the financial statements[20]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭州泰格醫藥科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3347） 2023年第三季度報告 本公告根據香港聯合交易所有限公司證券上市規則第13.09(2)條和第13.10B條及 香港法例第571章《證券及期貨條例》第XIVA部內幕消息條文作出。 下文為杭州泰格醫藥科技股份有限公司（「本公司」，連同其子公司統稱「本集團」） 截至2023年9月30日止九個月第三季度報告。本公告及隨附的財務報表最初以中 文編製，並以中英文版本刊登。如中英文版本有任何歧義或衝突，概以中文版本 為準。 謹請本公司股東及公眾投資者注意，隨附財務報表乃根據中國企業會計準則編製 且未經審計。 承董事會命 杭州泰格醫藥科技股份有限公司 葉小平 董事長 香港，2023年10月27日 於本公告日期，本公司執行董事為葉小平博士、曹曉春女 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 3,710.9 million, representing a 3.2% increase from RMB 3,594.2 million in the same period of 2022[9]. - Gross profit for the same period was RMB 1,466.3 million, up 3.4% from RMB 1,418.3 million year-on-year[9]. - Net profit attributable to owners of the company increased by 16.5% to RMB 1,388.3 million, compared to RMB 1,192.0 million in the previous year[9]. - The company maintained a gross profit margin of 39.5% for both periods, while the net profit margin increased from 33.2% to 37.4%[9]. - The adjusted net profit attributable to owners of the company was RMB 895.6 million, a 2.2% increase from RMB 876.5 million in the same period of 2022[9]. - Basic earnings per share increased by 16.7% to RMB 1.61, compared to RMB 1.38 in the previous year[9]. - Profit for the period increased by 6.9% year-on-year from RMB 1,317.6 million to RMB 1,408.1 million, with profit attributable to owners rising by 16.5% from RMB 1,192.0 million to RMB 1,388.3 million[67]. Clinical Research and Operations - The number of ongoing drug clinical research projects increased to 772 as of June 30, 2023, from 680 at the end of 2022[14]. - The company handled 12.4% of the total clinical research filing projects from the Human Genetic Resources Administration of China in the first half of 2023[14]. - The company ranked among the top 10 global clinical contract research organizations in terms of revenue, with a market share of 1.5% in 2022[14]. - As of June 30, 2023, the company has expanded its single-region clinical trials from 188 to 207, with 62 ongoing multi-region clinical trials, having signed 8 new multi-region clinical trial projects during the reporting period[17]. - Revenue from clinical trial technical services decreased to RMB 2,103.4 million, a year-on-year decline of 3.2%, while revenue from clinical trial-related services and laboratory services reached RMB 1,607.5 million, a year-on-year increase of 13.0%[26]. - The number of ongoing drug clinical research projects in China rose to 503, while overseas projects increased to 269, with 207 being single-region trials[32]. - The medical device team is currently managing 438 ongoing medical device projects, including clinical trials and regulatory submissions[34]. Financial Position and Investments - The company's total borrowings amounted to RMB 2,678.7 million as of June 30, 2023, with RMB 2,390.1 million as short-term borrowings and RMB 288.6 million as long-term borrowings[105]. - The debt-to-equity ratio increased to 11.2% as of June 30, 2023, compared to 9.3% as of December 31, 2022[106]. - The company's investment in listed equity securities increased by 74.2% from RMB 304.2 million as of December 31, 2022, to RMB 529.8 million as of June 30, 2023, due to increased investments in listed companies[99]. - The equity in joint ventures increased from RMB 1,799.8 million as of December 31, 2022, to RMB 2,413.6 million as of June 30, 2023, related to investments in Hangzhou Taikun and Jiangsu Lanwan Management Technology Co., Ltd.[93]. Employee and Talent Management - The total number of employees increased from 9,233 as of December 31, 2022, to 9,455 as of June 30, 2023, with overseas employees rising from 1,426 to 1,525[23]. - The company collaborates with over 23 universities to recruit high-quality graduates and develop talent, enhancing its competitive advantage[130]. - The management team, with extensive experience in the biopharmaceutical industry, supports the company's long-term growth and ability to meet client challenges[128]. - The company provides competitive compensation and long-term equity incentive plans to attract and retain talent, strengthening its market leadership[131]. Regulatory and Market Environment - Regulatory bodies are continuously optimizing clinical trial review processes and aligning with global standards, enhancing the drug review system[144]. - New regulatory policies have been issued to support the development of drugs for rare diseases, children's medications, and various therapeutic areas[146]. - The demand for clinical CRO services in China is increasing due to multinational pharmaceutical companies targeting the Chinese market for innovative drug launches[147]. - The competition in the innovative drug market is intensifying, leading to a faster domestic marketization rate for innovative drugs[149]. Risks and Challenges - The company faces risks from potential natural disasters, epidemics, and other emergencies that could adversely affect its operations and financial performance[152]. - There is a risk of decreased demand for biopharmaceutical R&D services if the global pharmaceutical market growth slows down[153]. - Increased competition in the global pharmaceutical contract research market poses risks to the company's business and profitability[156]. - The company must adapt to regulatory updates to avoid negative impacts on its business and financial status[155]. Strategic Initiatives - The company aims to promote global business growth through both organic expansion and acquisitions, enhancing local operational expertise in Europe, the Americas, and other emerging markets[20]. - Strategic acquisitions, including the purchase of DreamCIS in South Korea and other firms, have expanded the company's service offerings and geographical reach, contributing to long-term growth[135]. - The company plans to continue selective acquisitions and investments for growth, but failure to identify suitable targets or execute transactions could negatively impact expected returns[165].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3347） 有關截至2022年12月31日止年度的年度報告補充資料 茲提述杭州泰格醫藥科技股份有限公司（「本公司」）截至2022年12月31日止年度 的年度報告（「2022年年度報告」）。除另有界定者外，本公告所用詞彙與2022年年 度報告所界定者具有相同涵義。除2022年年度報告所披露的資料外，本公司謹此 提供有關本公司所採納的A股股票激勵計劃（統稱「計劃」）的補充資料以充分履行 上市規則第17.07條及第17.09條項下的披露規定。 報告期間內根據本公司所有計劃可授出的A股數目除以報告期間內已發行A股的加 權平均股份數目為0.91%。 1. 2019年限制性股份計劃 於2019年4月10日，本公司股東大會通過一項 ...