Financial Performance - The company reported a pre-tax loss of RMB 185,829,000 for the year ending December 31, 2024, a 51.0% improvement compared to RMB 379,096,000 in 2023[3]. - The net loss attributable to the parent company was RMB 177,510,000, representing a 52.2% decrease from RMB 371,736,000 in the previous year[3]. - Total revenue for the year ended December 31, 2024, was RMB 41,559,000, a decrease from RMB 43,828,000 in 2023[12]. - The company reported a pre-tax loss of RMB 185,829,000 for 2024, an improvement from a loss of RMB 379,096,000 in 2023[12]. - The net loss for the year was RMB 185,829,000, compared to RMB 379,096,000 in the previous year, reflecting a significant reduction in losses[14]. - The group incurred a pre-tax loss of RMB 70,318 thousand in 2024, significantly reduced from RMB 238,906 thousand in 2023, indicating an improvement of about 70.7%[25]. - The company did not declare or pay any dividends during the year, consistent with the previous year[26]. - The company reported total other income of RMB 41,559 thousand for the year 2024, a decrease from RMB 43,828 thousand in 2023, representing a decline of approximately 5.2%[24]. Research and Development - Research and development expenses for 2024 were RMB 142,637,000, down from RMB 288,151,000 in 2023, indicating a reduction of approximately 50.5%[12]. - The company aims to enhance R&D efficiency through process reengineering and internal collaboration, optimizing the R&D cost structure[57]. - The company focuses on developing innovative products to address core clinical pain points in structural heart disease, ensuring a sustainable leading position in the market[58]. - The company is committed to deepening collaboration between industry, academia, and healthcare to provide more effective treatment strategies for structural heart disease patients[58]. - The company emphasizes continuous improvement in R&D capabilities and product technology innovation to maintain its competitive edge in the global market[55]. Product Development and Commercialization - The company has received regulatory approval for its Ken-Valve product, which is expected to enhance its market presence in treating aortic regurgitation[4]. - The LuX-Valve Plus clinical trial results demonstrated a low incidence of safety events and improved patient outcomes, with significant attention from global professionals[5]. - The company is actively preparing for the commercialization of Ken-Valve, expanding its sales and marketing teams to cover more hospitals[8]. - JensClip registration is being expedited to enhance the company's product pipeline and commercialization efforts[9]. - The company is focused on the global promotion of the LuX-Valve series and the commercialization of the Ken-Valve product, with expectations to achieve commercialization by the first half of 2025[35]. - The company has multiple products in various stages of commercialization and development, including TTVR, TAVR, and TMVR systems[34]. - The company aims to establish international strategic partnerships to enhance the global technical advantage of its product series[35]. - The company has initiated the commercialization process for Ken-Valve® and is actively promoting its products in hospitals across several provinces and municipalities[35]. Financial Position and Assets - Non-current assets increased to RMB 341,710,000 in 2024 from RMB 172,179,000 in 2023, indicating a growth of approximately 98.7%[16]. - Current assets decreased to RMB 685,855,000 in 2024 from RMB 1,154,913,000 in 2023, a decline of about 40.6%[16]. - Cash and cash equivalents decreased by 34.7% from RMB 927.8 million as of December 31, 2023, to RMB 606.0 million as of December 31, 2024[78]. - Current assets net value decreased from RMB 1,096.2 million to RMB 621.7 million, attributed to bank deposits, R&D expenses, and administrative costs incurred during the reporting period[79]. - Total bank and other borrowings increased from RMB 40.7 million in 2023 to RMB 60.3 million in 2024, with approximately RMB 44.3 million due after one year[85]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with all applicable rules except for a specific deviation regarding the roles of the Chairman and CEO[102]. - The board consists of one executive director, five non-executive directors, and three independent non-executive directors, ensuring strong independence and diverse skills[104]. - The audit committee, composed of three independent non-executive directors, has reviewed the annual performance and internal controls, confirming compliance with applicable accounting standards[110]. - The company is committed to compliance with international financial reporting standards as set by the International Accounting Standards Board[116]. Market Presence and Partnerships - The company is exploring partnerships with overseas collaborators to accelerate global commercialization of its products[11]. - The company improved its global intellectual property layout, enhancing protection of its intellectual property rights[11]. - The company has participated in various high-quality academic conferences to enhance market awareness of its products and share clinical results[64]. - The company is exploring global business development partnerships with overseas medical device manufacturers to accelerate product commercialization[65]. Employee and Operational Changes - As of December 31, 2024, the company had 211 employees, a decrease from 376 employees as of December 31, 2023[91]. - Administrative expenses decreased from RMB 150.3 million in 2023 to RMB 68.2 million in 2024, primarily due to reductions in share-based compensation and professional service fees[69]. - Share-based compensation expenses dropped significantly from RMB 80.3 million in 2023 to RMB 1.3 million in 2024[71].
健世科技-B(09877) - 2024 - 年度业绩