Junshi Biosciences(688180)2024-04-29 09:18Financial Performance - The company's revenue for Q1 2024 was RMB 380,804,271.07, representing a 49.24% increase compared to the same period last year[4] - The net profit attributable to shareholders was a loss of RMB 283,029,082.76, with a net profit excluding non-recurring gains and losses of RMB -307,067,930.26[4] - The net cash flow from operating activities was RMB -376,577,871.82, indicating a negative cash flow situation[4] - The weighted average return on net assets was -4.04%, an increase of 1.88 percentage points compared to the previous year[4] - The company reported a total comprehensive loss of ¥298,795,396.58 in Q1 2024, compared to a loss of ¥667,067,229.83 in Q1 2023, reflecting a decrease of 55.2%[19] - Net loss for Q1 2024 was ¥299,647,965.46, an improvement from a net loss of ¥639,619,944.79 in Q1 2023, indicating a reduction of 53.1%[18] Research and Development - R&D investment totaled RMB 276,292,124.92, which decreased by 47.64% year-on-year[4] - The ratio of R&D investment to revenue was 72.55%, down 134.25 percentage points from the previous year[5] - Research and development expenses for Q1 2024 were ¥276,292,124.92, down 47.5% from ¥527,659,904.54 in Q1 2023[18] - The company has reduced its losses compared to the same period last year by optimizing resource allocation and focusing on promising R&D pipelines[13] Assets and Liabilities - Total assets at the end of the reporting period were RMB 12,024,485,796.49, an increase of 6.01% from the end of the previous year[5] - As of March 31, 2024, the total assets amounted to CNY 12,024.49 million, an increase from CNY 11,342.87 million as of December 31, 2023[15] - Total liabilities rose to ¥5,005,671,597.96 in Q1 2024 from ¥4,022,256,399.35 in Q1 2023, an increase of 24.5%[18] - The company's total equity decreased to ¥7,018,814,198.53 in Q1 2024 from ¥7,320,610,471.98 in Q1 2023, a decline of 4.1%[18] Cash Flow - Cash flow from operating activities increased to ¥399,332,111.78 in Q1 2024, compared to ¥302,002,091.08 in Q1 2023, marking a growth of 32.3%[19] - The net cash flow from operating activities was -720.25 million in the previous period, indicating a 47.7% reduction in cash outflow[21] - The company reported a cash outflow of 1.02 billion in the previous period[21] - The cash outflow for investing activities was 925.64 million in the previous period, indicating a reduction in capital expenditures[21] Sales and Market Performance - The company reported a significant increase in pharmaceutical sales revenue, contributing to the overall revenue growth[7] - The company's revenue for the first quarter of 2024 reached approximately CNY 306.86 million, representing a year-on-year growth of about 56.82% driven primarily by the sales of the core product, Toripalimab injection (brand name: Tuoyi®/LOQTORZI™)[13] - Cash received from sales and services in Q1 2024 was ¥396,310,961.15, up from ¥231,060,650.60 in Q1 2023, representing an increase of 71.5%[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,331, with the largest shareholder holding 22.25% of the shares[10] - The company reported a total of 32,331 shareholders as of the report date, with 32,322 being A-share shareholders[12] Financing Activities - The net cash flow from financing activities was 211.45 million in the previous period, showing a strong reliance on financing[21] - The company received 248.57 million in the prior period[21] - The company paid 15 million in the previous period, reflecting a strategy to manage debt levels[21] Pipeline and Product Development - The company has received approval for 8 indications for Toripalimab in China and has established commercial partnerships in over 50 countries[13] - The company is advancing multiple late-stage pipeline projects, including JS002 (anti-PCSK9 monoclonal antibody) and JS005 (anti-IL-17A monoclonal antibody)[14] - The company has added 3 new indications for Tuoyi® to the national medical insurance catalog starting in 2024, bringing the total to 6 indications[13]