药捷安康-B(02617) - 2025 - 中期财报

Company Information Board of Directors and Committees This section details the company's board composition, including executive, non-executive, and independent non-executive directors, and board committees - The Board of Directors comprises executive directors (including Chairman Dr. Wu Yongqian), non-executive directors, and independent non-executive directors[4] - Board committees, including audit, remuneration and appraisal, nomination, and strategy, are established, each with a designated chairman[4] Company Contact and Legal Information This section provides key contact and legal information, including the registered office, headquarters, principal banks, legal advisors, auditors, and compliance advisors - The company's registered office and headquarters are located in Building 9, 3rd Floor, Phase II, Biomedical Valley Accelerator, Jiangbei New Area, Nanjing, Jiangsu Province, China[4] - Principal banks are Bank of China and Bank of Nanjing[5] - Legal advisors include O'Melveny & Myers LLP (Hong Kong and US law) and Jingtian & Gongcheng (PRC law), with Ernst & Young as auditors[5] Independent Review Report Introduction The introduction to the independent review report states that the interim financial information for the six months ended June 30, 2025, prepared under IAS 34, has been reviewed - The review scope covers the interim financial information for the six months ended June 30, 2025[6] - The interim financial information is prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting"[6] - The reviewer only provides a conclusion based on the review, not an audit opinion[6] Scope of Review The review was conducted in accordance with Hong Kong Standard on Review Engagements 2410, involving inquiries and analytical procedures, and does not constitute an audit - The review was conducted in accordance with Hong Kong Standard on Review Engagements 2410 issued by the Hong Kong Institute of Certified Public Accountants[7] - The scope of a review is substantially less than an audit, thus no audit opinion is expressed[7] Conclusion Based on the review, no matters were found to indicate that the interim financial information was not prepared in all material respects in accordance with IAS 34 - The review concludes that the interim financial information is prepared in all material respects in accordance with IAS 34[8] - The report was issued by Ernst & Young on August 25, 2025[8] Interim Condensed Consolidated Financial Information Interim Condensed Consolidated Statement of Profit or Loss For the six months ended June 30, 2025, the company recorded a loss of RMB 122.87 million, a reduction from RMB 160.39 million in the prior year, primarily due to a significant decrease in research and development costs Interim Condensed Consolidated Statement of Profit or Loss Key Data | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Revenue | – | – | 0 | | Other income | 986 | 4,197 | -76.5% | | Other gains | 2,652 | 6,221 | -57.4% | | Research and development costs | (98,432) | (142,494) | -30.9% | | Administrative expenses | (27,471) | (28,080) | -2.2% | | Loss before tax | (122,866) | (160,387) | -23.4% | | Loss for the period | (122,866) | (160,387) | -23.4% | | Loss per share (RMB) | (0.32) | (0.42) | -23.8% | Interim Condensed Consolidated Statement of Comprehensive Income For the six months ended June 30, 2025, the company reported a total comprehensive loss of RMB 122.89 million, a decrease from RMB 160.34 million in the prior year, reflecting the narrowed loss for the period Interim Condensed Consolidated Statement of Comprehensive Income Key Data | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Loss for the period | (122,866) | (160,387) | -23.4% | | Exchange differences on translation of foreign operations | (28) | 48 | N/A | | Total comprehensive loss for the period | (122,894) | (160,339) | -23.4% | Interim Condensed Consolidated Statement of Financial Position As of June 30, 2025, the company's total assets increased, driven by a significant rise in financial assets at fair value through profit or loss, while net assets rose due to new share issuance from the IPO Interim Condensed Consolidated Statement of Financial Position Key Data | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Total non-current assets | 43,768 | 44,350 | -1.3% | | Total current assets | 649,092 | 585,251 | +10.9% | | Total current liabilities | 110,248 | 103,361 | +6.7% | | Net current assets | 538,844 | 481,890 | +11.8% | | Total assets less current liabilities | 582,612 | 526,240 | +10.7% | | Total non-current liabilities | 411 | 1,207 | -65.9% | | Net assets | 582,201 | 525,033 | +10.9% | | Total equity | 582,201 | 525,033 | +10.9% | - Financial assets at fair value through profit or loss significantly increased from RMB 3.03 million to RMB 186.79 million[13] - Cash and cash equivalents decreased from RMB 569.51 million to RMB 449.07 million[13] - Total equity increased due to the issuance of shares from the initial public offering[15] Interim Condensed Consolidated Statement of Changes in Equity As of June 30, 2025, total equity increased from RMB 525.03 million at the beginning of the year to RMB 582.20 million, primarily driven by share issuance from the IPO, despite a loss for the period Interim Condensed Consolidated Statement of Changes in Equity Key Data | Indicator | January 1, 2025 (RMB thousands) | June 30, 2025 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Share capital | 381,617 | 396,898 | +4.0% | | Other reserves | 1,542,595 | 1,707,376 | +10.7% | | Accumulated losses | (1,399,251) | (1,522,117) | -8.8% | | Total equity | 525,033 | 582,201 | +10.9% | - Issuance of shares from the initial public offering contributed RMB 172.53 million to equity[16] - Equity-settled share-based payment transactions increased by RMB 7.53 million[16] Interim Condensed Consolidated Statement of Cash Flows For the six months ended June 30, 2025, net cash used in operating activities decreased, while net cash used in investing activities significantly increased due to financial asset purchases, and financing activities generated substantial cash inflows from share issuance Interim Condensed Consolidated Statement of Cash Flows Key Data | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Net cash used in operating activities | (108,716) | (123,018) | -11.6% | | Net cash used in investing activities | (181,199) | (15,620) | +1060.0% | | Net cash from/(used in) financing activities | 170,626 | (2,163) | N/A | | Net increase/(decrease) in cash and cash equivalents | (119,289) | (140,801) | -15.3% | |