GENSCRIPT BIO(HK:01548)2025-04-08 09:48Company Overview - The company operates in over 100 countries and regions, with a professional team of approximately 5,568 members as of December 31, 2024[8]. - The company serves over 225,100 customers from more than 100 countries, impacting various fields such as vaccine development and diagnostics[94]. - The company was established as an exempted limited company in the Cayman Islands on May 21, 2015, and its shares were listed on the main board of the Stock Exchange on December 30, 2015[145]. Financial Performance - The group's revenue from continuing operations for the reporting period was approximately $594.5 million, representing a 6.1% increase from approximately $560.5 million in the previous year[17]. - The adjusted net profit for the group during the reporting period was approximately $59.8 million, an increase of 2.9% compared to approximately $58.1 million in the previous period[16]. - The gross profit for the group during the reporting period was approximately $272.1 million, remaining stable compared to the previous period[17]. - The group reported a profit of approximately $2.9 billion during the reporting period, compared to a loss of approximately $355.1 million in the previous period[17]. - The revenue from the cell therapy business contributed approximately $3.2 billion, significantly boosting the group's profit growth during the reporting period[16]. - The total assets of the group increased to approximately $4.32 billion in the fiscal year 2024, up from $2.04 billion in the previous year[19]. - The cash and cash equivalents decreased to approximately $131.99 million in fiscal year 2024, down from $1.45 billion in the previous year[19]. - The company achieved a profit attributable to owners of approximately $3 billion, compared to a loss of $95.5 million in the previous period[32]. Revenue Breakdown - Revenue from the United States, Mainland China, Europe, Asia-Pacific (excluding Mainland China), and other regions for the year ended December 31, 2024, was approximately $265.1 million, $176.9 million, $80.9 million, $53.1 million, and $18.5 million, respectively, accounting for 44.6%, 29.8%, 13.6%, 8.9%, and 3.1% of total revenue[10]. - External revenue from life sciences services and products accounted for 75.8% of total revenue, while biopharmaceutical development services and industrial synthetic biology products contributed 14.8% and 9.0%, respectively[32]. - Life Sciences segment revenue reached approximately $454.9 million, a 10.2% increase from $412.9 million in the previous year[35]. - The TurboCHO® cell expression platform saw over 100% sales growth compared to the previous year[20]. Operational Highlights - The life sciences services and products platform continues to provide stable revenue, covering gene synthesis, oligonucleotide synthesis, peptide synthesis, protein production, antibody development, and life science equipment and consumables[4]. - The CDMO platform, known as Probio, empowers global biopharmaceutical innovation by providing seamless end-to-end solutions, enhancing project success rates and reducing development time[8]. - The industrial synthetic products platform, known as Basij, utilizes advanced protein engineering technology to develop products for the feed, food, grain processing, and household care industries[9]. - The company aims to optimize operational processes and enhance quality and delivery times to improve competitiveness[7]. - The company is focused on establishing strategic collaborations with business partners to build a healthy biotechnology ecosystem[7]. Investments and R&D - The company has made significant investments in cell therapy, which is expected to bring long-term value to the company and its shareholders[7]. - The company has made significant investments in R&D and talent development, which may not yield immediate profit growth but are expected to create long-term value[21]. - The company plans to invest in R&D for antibody drug development and AI drug development to accelerate innovation[36]. - The company is focused on enzyme product business growth through innovation and process optimization[42]. Employee and Management Structure - As of December 31, 2024, the total number of employees in the group is 5,568, with 53.6% in production, 11.2% in sales and marketing, 13.2% in administration, 8.8% in R&D, and 13.2% in management[102]. - The company has implemented continuous education and training programs for employees to enhance their skills and knowledge[102]. - The board of directors currently consists of 12 members, including 4 executive directors, 1 non-executive director, and 7 independent non-executive directors[105]. Strategic Initiatives - The company plans to expand its market penetration in North America and Europe by acquiring new customers in advanced therapy fields[39]. - The company is focused on expanding its product portfolio and enhancing operational efficiency through digital transformation and lean management[96]. - The company is actively pursuing new strategies in market expansion and product development to enhance its competitive position[124]. - The company aims to strengthen its position in the life sciences sector through strategic partnerships and investments in innovative technologies[125]. Governance and Compliance - The company has established a robust governance structure with various committees, including audit and compensation committees, to oversee operations[119]. - The company has adopted various share option and restricted share award plans to incentivize employees and selected participants for their contributions[101]. - The board's composition aims to improve oversight in areas such as data security and geopolitical resilience, aligning with current market trends[132]. Shareholder Information - The board of directors did not recommend the distribution of a final dividend for the year ending December 31, 2024, to retain resources for business development[148]. - The company has not reported any distributable reserves as of December 31, 2024[155]. - The company has authorized a maximum of 212,768,651 shares for issuance under the share option and incentive plans, representing 10% of the total shares issued as of the 2024 annual general meeting date[171].