博瑞医药(688166) - 2025 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2025 was ¥336,811,043.10, representing a 5.54% increase compared to the same period last year[3]. - The total profit for Q3 2025 decreased by 62.81% to ¥27,436,024.01, while the profit for the year-to-date period fell by 86.66% to ¥22,414,798.66[3]. - The net profit attributable to shareholders for Q3 2025 was ¥33,146,821.66, down 53.34% year-on-year, and down 71.64% for the year-to-date period[3]. - For the period from January to September 2025, the company achieved operating revenue of RMB 874.25 million, a year-on-year decrease of 10.50%[14]. - The net profit attributable to shareholders was RMB 50.32 million, down 71.64% year-on-year, while the net profit excluding non-recurring gains and losses was RMB 46.17 million, a decrease of 73.41% year-on-year[15]. - Total revenue for the first three quarters of 2025 was RMB 874,249,705.24, a decrease of 10.5% compared to RMB 976,825,695.67 in the same period of 2024[28]. - Net profit for the first three quarters of 2025 was RMB 31,386,524.75, down 78.6% from RMB 146,757,526.84 in 2024[29]. - Basic and diluted earnings per share decreased to RMB 0.12 in 2025 from RMB 0.42 in 2024[30]. Research and Development - Research and development expenses for the current period totaled ¥121,800,276.54, an increase of 54.42% compared to the same period last year, accounting for 36.16% of operating revenue[4]. - The company is committed to a "research-driven" strategy, with increased investment in innovative drugs and inhalation formulations, particularly in the GLP-1 area[11]. - Research and development expenses surged to RMB 119,785,220.12 in the first three quarters of 2025, up 86.5% from RMB 64,234,212.22 in the same period of 2024[36]. - The company submitted 18 new domestic patent applications and obtained 3 new domestic patent grants in Q3 2025, bringing the total patent applications to 568, with 283 valid patents[21]. Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥98,954,861.81 for the year-to-date period, a decrease of 17.25% compared to the previous year[3]. - The company's cash and cash equivalents decreased to approximately CNY 606.22 million from CNY 765.35 million, a decline of about 20.8%[24]. - Cash flow from operating activities generated RMB 98,954,861.81 in 2025, down from RMB 119,589,702.03 in 2024[32]. - Cash flow from investing activities resulted in a net outflow of RMB 552,569,072.10 in 2025, compared to a net outflow of RMB 424,873,137.62 in 2024[32]. - Cash flow from financing activities showed a net inflow of RMB 293,665,928.88 in 2025, contrasting with a net outflow of RMB 173,767,050.97 in 2024[32]. - The company reported a decrease in cash and cash equivalents at the end of September 2025, totaling RMB 600,216,414.68, compared to RMB 493,323,980.01 at the end of September 2024[32]. Product Development and Clinical Trials - The clinical trial for BGM0504 injection for type 2 diabetes and weight loss has completed all patient enrollments and is currently in the dosing and follow-up phase[17]. - The IND application for the weight loss indication of BGM0504 injection in the U.S. has been submitted, with the FDA recommending the submission of complete Phase 3 study protocols[18]. - The IND application for the BGM0504 injection for glucose-lowering indication has been approved in Indonesia, and the Phase 3 clinical study has officially started[19]. - The oral BGM0504 tablet for weight loss has received IND approval in both China and the U.S., with the first patient enrollment completed in Phase 1 clinical studies[19]. - The company is advancing the clinical trial for BGM1812 injection for weight loss, with IND applications submitted in both China and the U.S., and the first patient enrollment completed in the U.S.[19]. - The company has made significant progress in the development of its inhalation products, with the inhaled budesonide suspension receiving production approval and several other inhalation sprays under domestic application[20]. Financial Position - The company's total assets increased by 3.95% to ¥5,360,070,041.30 compared to the end of the previous year[4]. - As of September 30, 2025, the company's total assets amounted to approximately CNY 5.36 billion, an increase from CNY 5.16 billion at the end of 2024, reflecting a growth of about 3.9%[24][26]. - The company's current assets decreased to approximately CNY 1.47 billion from CNY 1.64 billion, representing a decline of about 10.5%[25]. - The company reported a total current liability of approximately CNY 1.17 billion, an increase from CNY 1.05 billion, indicating a rise of about 10.7%[26]. - The long-term borrowings decreased to approximately CNY 1.01 billion from CNY 1.11 billion, showing a reduction of about 9.2%[26]. - Total liabilities increased to RMB 2,317,107,953.13 as of September 30, 2025, compared to RMB 2,144,174,640.18 at the end of 2024, marking an increase of approximately 8.1%[35]. - The total equity increased to RMB 1,984,895,153.34 as of September 30, 2025, compared to RMB 1,956,679,063.30 at the end of 2024, reflecting a growth of approximately 1.4%[36].