Financial Performance - In 2024, the company achieved a revenue growth of 82.0% year-on-year, reaching RMB 122.31 million, with a gross profit of RMB 54.01 million[14]. - Revenue for the year ended December 31, 2024, was RMB 122,311,000, an increase of 82.01% compared to RMB 67,200,000 in 2023[23]. - The total loss and comprehensive expenses for the year decreased by 44.69% to RMB (198,610,000) from RMB (359,116,000) in the previous year[23]. - Adjusted net loss for the year, excluding certain impacts, was RMB (161,959,000), representing an increase of 8.68% from RMB (149,027,000) in 2023[23]. - The loss for the year ended December 31, 2024, was RMB 198.61 million, compared to a loss of RMB 359.12 million for the year ended December 31, 2023[70]. - Adjusted net loss (non-IFRS measure) for 2024 was RMB 161.96 million, compared to RMB 149.03 million in 2023[83]. - Total loss and comprehensive expenses for 2024 were RMB 198.61 million, improved from RMB 359.12 million in 2023[83]. Product Development and R&D - Research and development investment reached RMB 119 million in 2024, a year-on-year increase of 31.6%, with the R&D team expanding to 120 members, over 20% of whom hold master's or doctoral degrees[11]. - The company is developing new indications for its core product, including a software for assessing cognitive abilities in depression, expected to receive approval in 2025[10]. - The company has a diverse product pipeline, with six candidate products in preclinical and clinical stages addressing unmet needs in various fields, including ADHD and depression[10][22]. - Clinical trials for several products are scheduled to commence in 2025, with data analysis expected to be completed by the second quarter of 2025[29]. - The company is focusing on developing tailored solutions for cognitive impairment using advanced technology[25]. - The anticipated commercialization timeline for certain products extends to 2028, indicating a long-term strategy in product development[29]. - The company is developing a new software for ADHD assessment and treatment, with two main components: a task-based cognitive assessment system and a problem-based digital assessment system[48]. - The cognitive impairment assessment and treatment software is being developed for international markets, with CE mark approval obtained for the treatment software in the EU, expected to commercialize in 2026[49]. Market Expansion and Strategy - The company plans to deepen market penetration of core products, accelerate commercialization of new indications, and enhance patient accessibility in 2025[15]. - The company aims to expand globally by advancing product registrations in Europe and the U.S. and exploring collaboration opportunities in the Middle East and Southeast Asia[16]. - The company is actively expanding its product offerings to address a wide range of cognitive disorders, including those related to vascular diseases and neurodegenerative conditions[26]. - The company aims to strategically seek acquisition opportunities to enhance its market position and global influence[52]. Clinical Trials and Approvals - The company has initiated three clinical trials in 2024 to evaluate the system's safety and efficacy for cognitive impairment caused by various vascular diseases, with data collection and analysis expected to be completed by 2025[36]. - The company plans to commence clinical trials for anxiety disorders in 2025 to enhance the system's application for cognitive impairment caused by depression[36]. - The Basic Cognitive Ability Test software (BCAT) received regulatory approval in October 2022, with full commercialization expected in the first half of 2025[41]. - The Cognitive Ability Screening Assessment software (SAS) was approved in December 2022, with full commercialization also anticipated in the first half of 2025[42]. - The Reading Disability Screening Assessment software (DSS) received its regulatory approval in September 2023, aimed at improving the assessment of developmental reading disability risks in children[43]. - The company has four additional products that have received regulatory approval, including BCAT, SAS, and DSS[39]. Financial Position and Assets - Current assets as of December 31, 2024, amounted to RMB 548.13 million, with cash and cash equivalents at RMB 413.38 million, an increase of RMB 141.56 million from RMB 271.82 million as of December 31, 2023[73]. - Current liabilities as of December 31, 2024, totaled RMB 782.01 million, including trade and other payables of RMB 56.09 million and prepayments from cornerstone investors of RMB 320.97 million[73]. - The capital debt ratio as of December 31, 2024, was not applicable, consistent with 2023[99]. - The company plans to fund its capital expenditures through operating cash flow, net proceeds from global offerings, and bank borrowings[94]. Shareholding and Governance - As of December 31, 2024, the company’s directors hold a total of 401,701,000 shares, representing approximately 31.72% of the company[151]. - The largest shareholder, Mr. Tan, holds 275,468,000 shares (21.75%) through controlled entities and has voting rights over an additional 99,104,000 shares (7.83%)[151]. - The shareholding structure indicates significant control by major shareholders, with ZTan Limited and Dr. Wang collectively holding over 36%[156][158]. - The company has established a trust for managing pre-IPO share incentive plans, indicating strategic planning for shareholder engagement[161]. Environmental and Social Responsibility - The company is committed to environmental sustainability and regularly reviews its environmental policies[106]. - The company is committed to maintaining effective communication and good relationships with key stakeholders, including employees, customers, and suppliers[117].
脑动极光-B(06681) - 2024 - 年度财报