Financial Performance - For the six months ended June 30, 2021, the company recorded revenue of RMB 50.16 million, compared to RMB 32.17 million for the same period in 2020, representing a year-over-year increase of 55.8%[10]. - The gross profit for the same period was RMB 22.16 million, with a gross margin of 44.1%, compared to RMB 11.40 million and a gross margin of 35.4% in 2020[10]. - The company reported an operating loss of RMB 36.67 million for the six months ended June 30, 2021, compared to an operating loss of RMB 9.75 million in the prior year[10]. - Revenue increased by 56.0% from RMB 32.2 million for the six months ended June 30, 2020, to RMB 50.2 million for the six months ended June 30, 2021, primarily due to increased sales of PGT-A kits, instruments, and CNV kits[43]. - Gross profit increased from RMB 11.4 million for the six months ended June 30, 2020, to RMB 22.2 million for the six months ended June 30, 2021, with a gross margin improvement from 35.5% to 44.2%[48]. - The company reported a total comprehensive loss of RMB (42,093) thousand for the six months ended June 30, 2021[157]. - The net cash used in operating activities for the six months ended June 30, 2021, was RMB (70,718) thousand, compared to RMB (27,531) thousand for the same period in 2020, representing a decline of 156%[159]. - The net cash generated from financing activities was RMB 1,569,543 thousand, a substantial increase from RMB 13,092 thousand in the previous year[159]. Assets and Liabilities - The total net assets of the company increased to RMB 1.81 billion as of June 30, 2021, up from RMB 281.34 million at the end of 2020[10]. - Current assets surged to RMB 1.81 billion from RMB 310.39 million in the previous year[10]. - Non-current assets increased to RMB 48.76 million as of June 30, 2021, compared to RMB 39.91 million at the end of 2020[10]. - The company’s total liabilities decreased, with current liabilities at RMB 49.51 million compared to RMB 68.18 million in the previous year[10]. - Total liabilities decreased from RMB 37,494,000 as of December 31, 2020, to RMB 26,951,000 as of June 30, 2021, indicating a reduction of 28.1%[195]. - The company has no contingent liabilities as of June 30, 2021[68]. - The company has unfulfilled capital commitments of RMB 5.5 million as of June 30, 2021, mainly due to contracts for the construction of a new headquarters[69]. Research and Development - The company is developing two additional pre-implantation genetic testing (PGT) products, PGT-M and PGT-SR, which will complete its PGT product line based on NGS technology[13]. - Research and development expenses increased by 69.9% from RMB 13.4 million for the six months ended June 30, 2020, to RMB 22.8 million for the six months ended June 30, 2021, due to the expansion of the R&D team and increased costs related to reagents and equipment[54]. - The company aims to enhance its product offerings and expand PGT testing indicators to strengthen its market position[41]. - The company is also developing innovative devices and instruments to improve workflow in molecular genetic laboratories using its kits[14]. Market Position and Strategy - The company is the only approved manufacturer of PGT-A test kits in China, marking a significant milestone in the regulated third-generation IVF market[12]. - The company aims to become a global leader in genetic technology, focusing on innovative solutions for assisted reproductive genetic testing[12]. - The company has expanded its focus from pre-implantation to prenatal and postnatal stages, developing kits for each stage, thus covering the entire reproductive cycle in China[14]. - The commercialization strategy emphasizes expanding coverage and penetration in licensed hospitals and reproductive clinics across China, leveraging existing relationships[30]. - The company plans to collaborate with licensed third-party medical testing institutions to broaden its customer base in China[30]. Shareholder Information - As of June 30, 2021, Dr. Liang holds 55,231,640 shares of domestic shares, representing 20.19% of the company's equity[73]. - Dr. Liang also has controlled corporation interests amounting to 36,090,379 shares, which is 13.19% of the company's equity[73]. - Mr. Xu holds 22,196,511 shares of domestic shares through controlled corporations, accounting for 8.11% of the company's equity[74]. - The total issued share capital of the company as of June 30, 2021, is 273,526,000 shares[75]. - The company raised approximately HKD 1,898.7 million (equivalent to RMB 1,584.1 million) from its initial global offering[98]. Regulatory and Compliance - The company expects to receive regulatory approval for the PGT-M and PGT-SR kits from the National Medical Products Administration in 2022 and 2024, respectively, solidifying its market leadership in China's third-generation IVF genetic testing[13]. - The company has complied with all applicable corporate governance code provisions since its listing date[94]. - The independent auditor's review confirmed that the interim financial report was prepared in accordance with International Accounting Standard 34[110]. Employee and Operational Costs - Employee compensation costs totaled RMB 26.3 million for the six months ended June 30, 2021, compared to RMB 13.9 million for the same period in 2020[35]. - Sales and distribution expenses grew from RMB 4.5 million for the six months ended June 30, 2020, to RMB 29.1 million for the six months ended June 30, 2021, mainly due to increased sales expenses and an expanded marketing team[50]. - Administrative expenses rose from RMB 4.9 million for the six months ended June 30, 2020, to RMB 18.2 million for the six months ended June 30, 2021, primarily due to talent recruitment and impairment losses on trade and other receivables[51]. Impact of COVID-19 - The company has not experienced significant adverse impacts from the COVID-19 pandemic on its business or financial performance as of the report date[38].
贝康医疗-B(02170) - 2021 - 中期财报