Financial Performance - For the six months ended June 30, 2024, the net loss was approximately RMB 28.3 million, a decrease of 70.2% compared to the net loss of approximately RMB 95.1 million for the same period in 2023[5]. - The basic and diluted loss per share for the six months ended June 30, 2024, was RMB 0.11, compared to RMB 0.35 for the same period in 2023[6]. - The company reported a total loss of RMB 28,325,000 for the six months ended June 30, 2024, compared to a loss of RMB 95,117,000 for the same period in 2023, representing a 70.3% improvement in losses year-over-year[80]. - The company reported a pre-tax loss of RMB 25,830,000 for the six months ended June 30, 2024, compared to a loss of RMB 86,186,000 for the same period in 2023, indicating a significant improvement[98]. - The company did not declare or pay any dividends for the six months ended June 30, 2024, consistent with the same period in 2023[97]. Research and Development - Research and development expenses for the six months ended June 30, 2024, were approximately RMB 21.8 million, a decrease of 68.2% from approximately RMB 68.4 million for the same period in 2023[6]. - The company is focused on two therapies: Bioresorbable Stents (BRS) for coronary artery disease and Renal Denervation (RDN) for uncontrolled hypertension[7]. - The Bioheart® BRS system is in the registration phase in China and is expected to receive approval from the National Medical Products Administration in Q2 2025[9]. - The second-generation Iberis® RDN system has over 20 patents, with a major clinical trial achieving its primary endpoint for essential hypertension patients, and regulatory approval is expected in Q4 2024[11]. - The company is focused on research and development, particularly in renal nerve denervation (RDN) technology[120]. Cash and Assets - As of June 30, 2024, cash and cash equivalents were approximately RMB 272.9 million, a decrease of 26.1% from approximately RMB 369.4 million as of December 31, 2023[6]. - The company's equity decreased to RMB 745,532,000 as of June 30, 2024, down from RMB 773,857,000 as of December 31, 2023, reflecting a decrease of about 3.6%[82]. - Current assets decreased to RMB 357,345,000 as of June 30, 2024, down from RMB 408,473,000 as of December 31, 2023, representing a decline of about 12.5%[81]. - Non-current assets increased to RMB 426,470,000 as of June 30, 2024, compared to RMB 409,426,000 as of December 31, 2023, reflecting a growth of approximately 4.5%[81]. Expenses and Liabilities - Administrative expenses decreased from RMB 30.9 million in the six months ended June 30, 2023, to RMB 7.1 million in the same period of 2024, primarily due to a reduction in share-based payment expenses[19]. - The company's debt decreased from RMB 1.8 million as of December 31, 2023, to RMB 1.0 million as of June 30, 2024, due to lease payments made during the reporting period[26]. - Total liabilities decreased from RMB 20,069,000 to RMB 14,513,000, a reduction of approximately 27.7%[81]. - The total amount of other payables and accrued expenses decreased to RMB 9,715,000 as of June 30, 2024, down 33.8% from RMB 14,627,000 as of December 31, 2023[106]. Shareholder Information - As of June 30, 2024, Mr. Wang holds 99,010,085 shares, representing approximately 40.59% of the total issued share capital[51]. - The total number of shares held by major shareholders indicates a significant concentration of ownership, with the top three shareholders holding over 40% of the total issued share capital[54]. - The company has a diverse shareholder base, including various investment funds and individual investors, which may enhance its market stability[56]. Corporate Governance - The company has adopted the corporate governance code and has complied with all applicable provisions, except for the deviation regarding the roles of Chairman and CEO being held by the same person[43]. - The audit committee, composed of three independent non-executive directors, has reviewed the interim performance and financial reporting procedures, ensuring compliance with applicable accounting standards[46]. - The company is focused on enhancing its governance through various committees, including the remuneration and nomination committees[120]. Strategic Initiatives - The company aims to enhance its market share in the Chinese interventional cardiovascular device market and expand its product portfolio[15]. - The company is actively seeking external collaborations, strategic investments, and acquisition opportunities to facilitate future expansion[15]. - The company aims to expand its market presence and enhance its product offerings through strategic initiatives[121].
百心安-B(02185) - 2024 - 中期财报