Revenue Growth - Revenue increased by approximately 178.3% from about RMB 343 million for the six months ended June 30, 2023, to about RMB 956 million for the six months ended June 30, 2024[2]. - Revenue increased by 178.3% from RMB 34.3 million for the six months ended June 30, 2023, to RMB 95.6 million for the six months ended June 30, 2024, primarily due to increased sales of hair disease and care products and daily skincare products[12]. - The company reported a significant increase in customer contract revenue, reaching RMB 95,575 thousand for the six months ended June 30, 2024, compared to RMB 34,343 thousand for the same period in 2023, representing a growth of approximately 178%[46]. Gross Margin and Profit - Gross margin improved by approximately 5 percentage points from about 48% for the six months ended December 31, 2023, to about 53% for the six months ended June 30, 2024[2]. - Gross profit increased by 136.8% from RMB 21.3 million for the six months ended June 30, 2023, to RMB 50.3 million for the six months ended June 30, 2024[14]. - Gross margin decreased from approximately 62% for the six months ended June 30, 2023, to approximately 53% for the six months ended June 30, 2024, but increased by about 5 percentage points from approximately 48% for the six months ended December 31, 2023[14]. Loss and Financial Performance - Adjusted net loss for the six months ended June 30, 2024, was approximately RMB 161 million, with the adjusted net loss as a percentage of revenue further narrowing[2]. - The company recorded a loss of RMB 200.9 million for the six months ended June 30, 2024, a decrease of RMB 1,439.4 million compared to a loss of RMB 1,640.3 million for the six months ended June 30, 2023[23]. - Basic and diluted loss per share improved to RMB (0.66) from RMB (15.84) year-over-year[38]. Research and Development - CU-40102, the first and only approved topical finasteride product for androgenetic alopecia, had its NDA accepted by the National Medical Products Administration in January 2024[5]. - CU-10201, the first and only approved topical minocycline foam for acne treatment, received priority review qualification in August 2023 and had its NDA accepted in September 2023[5]. - The company is conducting a Phase II clinical trial for CU-20401, aimed at treating submental fat accumulation, with the last patient enrolled in June 2024[3]. - The company is actively engaged in research and development, focusing on core products such as CU-20401, CU-40102, and CU-10201[58]. Sales and Marketing - During the "618 event," the combined GMV of hair disease and care products and skin care products grew nearly fivefold year-on-year[3]. - Online sales performance showed significant growth, with GMV for hair disease and care products and skincare products increasing nearly fivefold during the "618 event" period[8]. - The company aims to enhance its online marketing strategy and strengthen sales capabilities across various e-commerce and social media platforms to increase brand awareness[11]. Expenses and Costs - Sales cost rose from RMB 13.1 million for the six months ended June 30, 2023, to RMB 45.2 million for the six months ended June 30, 2024, an increase of RMB 32.1 million, consistent with business growth[13]. - Sales and distribution expenses increased by 78.3% from RMB 58.0 million for the six months ended June 30, 2023, to RMB 103.5 million for the six months ended June 30, 2024, driven by expanded online marketing activities[16]. - R&D costs rose by 9.8% from RMB 90.1 million for the six months ended June 30, 2023, to RMB 99.0 million for the six months ended June 30, 2024, due to an increase in R&D personnel and higher purchasing/licensing expenses[17]. Assets and Liabilities - Cash and cash equivalents totaled RMB 276.0 million as of June 30, 2024, a decrease of 41.7% from RMB 473.1 million as of December 31, 2023, mainly due to expenditures in R&D and other operating activities[25]. - The company’s current assets amounted to RMB 1,210.1 million, including cash and cash equivalents of RMB 276.0 million, while current liabilities were RMB 237.8 million[25]. - Interest-bearing bank borrowings increased to RMB 210.3 million as of June 30, 2024, compared to RMB 189.4 million as of December 31, 2023, reflecting a growth of approximately 11.5%[26]. Employee and Compensation - The total employee compensation cost for the six months ended June 30, 2024, was RMB 113.7 million, down from RMB 134.4 million for the same period in 2023, primarily due to a decrease in share-based payment expenses[32]. - The company had a total of 360 employees as of June 30, 2024, with 57.2% in sales, marketing, and management roles[32]. Other Financial Information - Other income decreased by 44.6% from RMB 21.5 million for the six months ended June 30, 2023, to RMB 11.9 million for the six months ended June 30, 2024, primarily due to reduced government subsidies and lower bank interest income[15]. - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[37]. - The company has not recognized deferred tax assets due to the uncertainty of future taxable profits, which may not offset tax losses[49].
科笛-B(02487) - 2024 - 中期业绩