Financial Performance - The company reported a revenue of RMB 829.8 million for the six months ended June 30, 2024, a significant decrease of approximately 96.7% compared to RMB 2,510.8 million for the same period in 2023[1]. - The company's total income decreased from RMB 2,510.8 million for the six months ended June 30, 2023, to RMB 67.1 million for the same period in 2024, a reduction of RMB 2,443.7 million[24]. - For the six months ended June 30, 2024, the company reported a revenue of negative RMB 10.1 million, primarily due to sales returns of the quadrivalent influenza vaccine AdimFlu-S[23]. - The group reported a loss attributable to equity holders of the parent company of RMB (95,123,000) for the six months ended June 30, 2024, compared to a profit of RMB 650,624,000 for the same period in 2023[66]. - The total comprehensive loss for the period was RMB 107,811,000, a stark contrast to the total comprehensive income of RMB 671,837,000 in the previous year[45]. Expenses and Cost Management - The cash and bank balances decreased from RMB 1,095.5 million as of December 31, 2023, to RMB 829.8 million as of June 30, 2024, primarily due to cash outflows from operations and loan repayments[2]. - Research and development expenses decreased by approximately 75% from RMB 385.6 million for the six months ended June 30, 2023, to RMB 98.3 million for the same period in 2024, as related activities for SCB2019 were completed[3]. - Administrative expenses were reduced by about 62% from RMB 109.5 million for the six months ended June 30, 2023, to RMB 42.1 million for the same period in 2024, due to staff reductions and other cost-saving measures[2]. - Sales and distribution expenses decreased from RMB 22.5 million to RMB 6.7 million, a reduction of RMB 15.8 million, mainly due to optimized staffing to improve efficiency[25]. - Employee compensation and benefits decreased from RMB 152.8 million for the six months ended June 30, 2023, to RMB 56.5 million for the six months ended June 30, 2024[29]. Clinical Development and Research - The company is the first in China to independently develop a PreF bivalent RSV candidate vaccine, which has entered clinical trial stages[4]. - The company announced the completion of the first cohort enrollment in the Phase I clinical trial for its RSV candidate vaccine (SCB-1019) in December 2023[5]. - Initial results from Phase I trials for young adults and elderly groups showed positive immunogenicity and safety data in April and June 2024[5]. - The company aims to advance its proprietary bivalent PreF RSV candidate vaccine development, expecting to obtain comprehensive Phase I clinical trial results by the end of 2024[21]. - SCB-1019 demonstrated good overall tolerability, with mild local and systemic adverse events comparable to the placebo group, and no serious adverse events were observed[14]. Product Development and Market Strategy - The company has established an exclusive distribution agreement for AdimFlu-S with a local partner, enabling faster market access and distribution in mainland China[6]. - The company completed the batch approval for AdimFlu-S by the Chinese National Medical Products Administration, facilitating quicker market entry before the autumn-winter vaccination season[6]. - SCB-219M is a bispecific Fc fusion protein for treating chemotherapy-induced thrombocytopenia (CIT), with plans to initiate Phase Ib clinical trials by the end of 2024[7]. - The company is focused on building a leading respiratory vaccine product portfolio based on its validated Trimer-Tag platform[21]. - The company is committed to developing a leading respiratory vaccine product portfolio to meet the unmet needs in preventing severe respiratory infections[12]. Financial Position and Liabilities - Total assets decreased from RMB 2,101.4 million as of December 31, 2023, to RMB 1,797.3 million as of June 30, 2024[34]. - Total liabilities decreased from RMB 2,834.3 million as of December 31, 2023, to RMB 2,630.0 million as of June 30, 2024[34]. - The group reported a net liability of RMB 832,775,000 as of June 30, 2024, compared to RMB 732,833,000 at the end of 2023[46]. - The company anticipates no cash outflow related to contract liabilities of RMB 1,589,092,000 in the next twelve months, indicating a potential for improved cash flow management[48]. - The company has sufficient cash and cash equivalents to meet operational needs, supported by available bank financing[49]. Government Grants and Other Income - Other income and gains for the six months ended June 30, 2024, amounted to RMB 67.148 million, compared to RMB 2.511 million for the same period in 2023, indicating a substantial increase[55]. - Government grants received for supporting R&D activities and the purchase of property, plant, and equipment amounted to RMB 33.952 million for the six months ended June 30, 2024[55]. - The government grant recognized in profit or loss for the year decreased from RMB 1,000,000 in 2023 to RMB (1,851,000) in 2024[76]. Corporate Governance and Compliance - The company has adopted the corporate governance code and has complied with its principles and provisions during the reporting period[79]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024[80].
三叶草生物-B(02197) - 2024 - 中期业绩