金斯瑞生物科技(01548) - 2024 - 年度业绩

Financial Performance - The adjusted net profit for the continuing operations was approximately $59.8 million, an increase of 2.9$58.1 million in the previous period[7]. - The revenue from continuing operations was approximately $594.5 million, representing a 6.1$560.5 million in the prior year[6]. - The gross profit for continuing operations was approximately $272.1 million, remaining stable compared to the previous year[6]. - The company reported a profit of approximately$2.9 billion for the reporting period, compared to a loss of approximately $355.1 million in the previous period[6]. - The loss from continuing operations was approximately$173.8 million, compared to a profit of approximately $162.9 million in the prior year[6]. - The company achieved a significant gain of approximately$3.2 billion from the merger with Legend, which contributed to the overall profit[9]. - The basic earnings per share for the year was 139.63 cents, compared to a loss of 4.53 cents in the previous year[10]. - The total comprehensive income for the year was approximately $2.79 billion, compared to a loss of approximately$335.6 million in the previous year[12]. - The company reported a pre-tax loss of $170,797,000 for the year ended December 31, 2024, compared to a profit of$168,885,000 in 2023[31]. - The company reported a significant profit increase due to the revenue from the deconsolidated cell therapy business, with profits rising to approximately $2.9 billion from a loss of approximately$355.1 million in the previous year[76]. Revenue Breakdown - Revenue for the period was $186,522 thousand, with a net loss of$(71,524) thousand[56]. - Revenue from the life sciences services and products segment accounted for 75.8% of total revenue, while biopharmaceutical development services and industrial synthetic products accounted for 14.8% and 9.0%, respectively[76]. - Revenue from the life sciences services and products segment was approximately $454.9 million, a 10.2$412.9 million in the previous year[79]. - Revenue from biopharmaceutical development services was approximately $95.0 million, a decrease of 13.2$109.5 million in the previous period[82]. - Revenue from industrial synthetic biological products increased by 24.6% to approximately $53.7 million, up from approximately$43.1 million in the previous period[85]. Expenses and Liabilities - The company incurred research and development expenses of approximately $53.8 million, an increase from approximately$52.7 million in the previous year[9]. - The total administrative expenses for 2024 were $114,375,000, an increase from$106,820,000 in 2023, indicating a rise of approximately 7%[25]. - Selling and distribution expenses rose by 10.0% to approximately $88.1 million, primarily due to increased marketing efforts and investment in commercial talent[91]. - The financing costs rose to$8,032,000 in 2024 from $5,739,000 in 2023, marking an increase of approximately 40$123,581,000 in 2024, compared to a gain of $129,207,000 in 2023[25]. Cash Flow and Assets - Net cash flow from operating activities improved to$75,647 thousand in 2024 from a negative $286,911 thousand in 2023[17]. - Investment activities resulted in a net cash outflow of$1,456,363 thousand in 2024, compared to $357,728 thousand in 2023, indicating increased investment[17]. - Total current liabilities decreased from$494,811 thousand in 2023 to $307,342 thousand in 2024, a reduction of approximately 38$1,446,403 thousand in 2023 to $131,990 thousand in 2024, a decline of about 90.9$61,955,000 for the nine months ended September 30, 2024, compared to an outflow of $393,276,000 for the entire year of 2023, showing a significant reduction in cash burn[42]. Equity and Assets - Total equity increased from$2,044,354 thousand in 2023 to $4,323,362 thousand in 2024, reflecting a growth of approximately 111.1$217,443 thousand in 2023 to $116,291 thousand in 2024, a decrease of about 46.6$1,342,948 thousand in 2023 to $954,907 thousand in 2024, indicating a reduction of approximately 29$1,735,825,000, a decrease from $1,848,609,000 as of December 31, 2023[38]. - The group’s property, plant, and equipment decreased by 14.8$518.0 million, primarily due to the deconsolidation of Legend and impairment losses[108]. Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[9]. - The company plans to invest in R&D to accelerate innovation in antibody drug development, AI drug development, and other advanced therapies[80]. - The company aims to enhance global production capacity and provide localized supply chain solutions in the U.S., Singapore, and mainland China[80]. - The company is diversifying its global production footprint and supply chain partners to mitigate risks associated with geopolitical factors and international trade agreements[142]. - The company continues to seek potential partnerships to advance its cell therapy pipeline and explore new business opportunities[154]. Governance and Compliance - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and responsibility[165]. - The audit committee, consisting of four independent non-executive directors, is responsible for reviewing and supervising the company's financial reporting system and risk management[168]. - The company has adopted a self-developed "Standard Code for Securities Transactions by Directors and Relevant Persons," ensuring compliance with the standards set out in the listing rules[167]. - The company will continue to review and strengthen its corporate governance practices to ensure compliance with the corporate governance code[166]. Workforce and Employee Investment - Employee compensation expenses totaled approximately $264.7 million, accounting for about 44.5% of total revenue, reflecting a commitment to talent investment[156]. - The workforce consists of approximately 5,568 employees, with 53.6% in production and 11.2% in sales and marketing[156].