Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue reached approximately RMB 726.3 million, an increase of about RMB 108.2 million or 17.5% compared to RMB 618.1 million for the fiscal year ending December 31, 2023[3]. - The company reported a net profit of RMB 73.2 million for the fiscal year ending December 31, 2024, compared to a net loss of RMB 119.4 million in the previous year[8]. - Total comprehensive income for the year was RMB 73.1 million, a significant recovery from a loss of RMB 119.1 million in the previous year[8]. - The basic and diluted earnings per share for the fiscal year ending December 31, 2024, were RMB 0.14, compared to a loss per share of RMB 0.23 in the previous year[8]. - The group's profit before tax for 2024 was RMB 73,189,000, compared to a loss of RMB 119,377,000 in 2023, indicating a significant turnaround in performance[35]. Revenue and Sales - The increase in revenue was primarily driven by sales growth of the products BA1101 and BA6101 in China, along with an increase in licensing income[3]. - Revenue from product sales was RMB 689,853 thousand in 2024, up from RMB 615,272 thousand in 2023, reflecting a growth of 12.1%[24]. - Product revenue increased by 12.1% to RMB 689.9 million, driven by stable sales of the first product, Bo You Nuo (Bevacizumab Injection), and strong growth of the second product, Bo You Bei (Dexamethasone Injection)[99]. - Three commercialized products have been successfully launched in mainland China, sold to over 2,928 targeted hospitals and institutions[59]. Cost and Expenses - The company's cost of sales decreased to approximately RMB 183.7 million, representing about 25.3% of total revenue for the year, down from 33.9% in the previous year[4]. - Sales and distribution expenses increased to RMB 285.8 million, up RMB 29.3 million or 11.4% from RMB 256.5 million in the previous year, consistent with revenue growth[6]. - Research and development expenses for the fiscal year ending December 31, 2024, were approximately RMB 149.3 million, a decrease of about RMB 81.4 million from RMB 230.7 million in the previous year, primarily due to the advancement of several key R&D projects to Phase III clinical trials[7]. - Financial costs rose significantly to RMB 32,651,000 in 2024 from RMB 14,087,000 in 2023, an increase of about 131.5%[34]. Assets and Liabilities - Non-current assets increased to RMB 1,895,008 thousand in 2024 from RMB 1,610,379 thousand in 2023, representing a growth of 17.7%[9]. - Current assets rose to RMB 956,280 thousand in 2024, up from RMB 713,007 thousand in 2023, marking an increase of 34.2%[9]. - Total liabilities decreased slightly to RMB 1,207,250 thousand in 2024 from RMB 1,003,518 thousand in 2023, a reduction of 20.3%[10]. - Net assets increased to RMB 1,644,038 thousand in 2024, compared to RMB 1,319,868 thousand in 2023, reflecting a growth of 24.5%[10]. Research and Development - The company has established a robust R&D platform focused on antibody discovery and drug development, with teams located in Yantai, Nanjing, and Boston[92]. - The R&D team consists of 286 experienced employees, with most having over seven years of experience in drug development and clinical research[94]. - The company has secured 10 new patents and 10 pending patent applications globally since the beginning of 2024, totaling 43 granted patents and 52 pending applications[62]. - BA1301 has received orphan drug designation from the FDA for the treatment of gastric cancer, and BA1302 has also received similar designation for two indications[61]. Market Strategy and Expansion - The company has established a professional commercialization team to strengthen its market position in China, laying a solid foundation for future transformation[3]. - The company is expanding its market presence in the U.S., EU, and Japan, with ongoing clinical trials for its products in these regions[61]. - The company aims to enhance production efficiency and sustainability through digital management and green development initiatives[98]. - The company is exploring international commercialization partnerships for products already launched or completed clinical trials in China[64]. Corporate Governance - The company has complied with all applicable corporate governance code provisions, except for the separation of the roles of chairman and CEO[150]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[149]. - The audit committee has approved the annual performance and consolidated financial statements for the year ending December 31, 2024[153].
博安生物(06955) - 2024 - 年度业绩