Financial Performance - The company achieved a revenue growth of 48.4% year-on-year, reaching RMB 15,268.7 million[7]. - Gross profit increased by 39.2% year-on-year to RMB 6,724.0 million[7]. - Adjusted net profit for 2022 was RMB 5,053.94 million, reflecting a significant increase from RMB 3,435.91 million in 2021[13]. - The group's revenue for the year ended December 31, 2022, increased by 48.4% year-on-year to RMB 15,268.7 million, with adjusted net profit rising by 48.5% to RMB 4,925.3 million[19]. - The company achieved a revenue of RMB 15,268.66 million in 2022, representing a 48.5% increase from RMB 10,290.05 million in 2021[13]. - Net profit increased by 29.7% from approximately RMB 3,508.6 million for the year ended December 31, 2021, to approximately RMB 4,549.9 million for the year ended December 31, 2022, with a net profit margin of 29.8%[86]. - Basic earnings per share increased by 30.9% from RMB 0.81 for the year ended December 31, 2021, to RMB 1.06 for the year ended December 31, 2022[87]. - The adjusted EBITDA for the year ended December 31, 2022, was RMB 6,857.4 million, with an adjusted EBITDA margin of 44.9%[112]. Revenue Sources - Non-COVID related revenue surged by 62.8% year-on-year, indicating strong growth momentum[7]. - The IND pre-service revenue grew by 45.8% to approximately RMB 4,945.6 million, accounting for 32.4% of total revenue[71]. - Early clinical development service revenue increased by 100.1% to approximately RMB 3,207.8 million, representing 21.0% of total revenue[71]. - Late clinical development and commercialization revenue rose by 39.0% to approximately RMB 6,854.3 million, making up 44.9% of total revenue[71]. - The five largest customers' revenue grew by 25.0% to approximately RMB 4,680.1 million, accounting for 30.7% of total revenue[73]. - The ten largest customers' revenue increased by 28.1% to approximately RMB 6,236.6 million, representing 40.8% of total revenue[73]. Investments and Expansion - The company announced a USD 1.4 billion investment in Singapore to build a leading integrated CRDMO service center over the next decade[7]. - The company plans to achieve net-zero emissions by 2050 and aims to reduce waste density by 10% from 2022 to 2027[10]. - The company is committed to enhancing its CRDMO platform to create greater value for shareholders and improve drug discovery and development processes[10]. - The company is actively pursuing mergers and acquisitions to enhance its competitive edge and market share[122]. - The company aims to expand its market presence and enhance its product offerings through strategic partnerships and acquisitions[121]. Operational Capacity and Projects - The total number of ongoing projects reached 588, with 136 new projects added during the year[7]. - The total value of unfulfilled orders grew to USD 20.571 billion, with milestone payment orders at USD 7.032 billion[7]. - The production capacity reached 262,000 liters, with new CRDMO centers operational in China, Europe, and the USA[8]. - The number of ongoing integrated projects increased by 22.5% to 588 in 2022, with nearly 550 being non-COVID related projects[15]. - The company successfully advanced 70 projects from pre-IND to early clinical development during the reporting period[15]. Compliance and Regulatory Standards - The company successfully removed its subsidiaries from the U.S. Department of Commerce's unverified list, demonstrating compliance with regulatory standards[7]. - The company received its first GMP certification for the Dundalk facility in Ireland just nine months after it became operational, highlighting its speed and quality[23]. - The company has 14 production facilities certified by GMP, including new certifications in Germany and Ireland[10]. - The group has completed over 900 GMP audits and more than 70 EU QP audits, demonstrating compliance with global quality standards[55]. Research and Development - The integrated antibody-drug conjugate platform secured 94 projects globally, with 40 IND submissions completed[8]. - The proprietary bispecific antibody platform WuXiBody® has been applied in 39 licensed projects, showcasing its effectiveness and flexibility in biopharmaceutical innovation[33]. - The group is advancing 99 bispecific antibody projects, leveraging its extensive expertise and a top-tier scientific team[33]. - The group has developed DAR4 technology to control the drug-antibody ratio around 4, significantly reducing the heterogeneity of ADC molecules and their CMC development complexity[31]. - The group is continuously identifying and optimizing innovative biopharmaceutical fields and developing patented technologies to enable clients to discover and develop highly differentiated innovative biopharmaceuticals[27]. Employee and Leadership - The total number of employees increased to 12,373, with 4,372 scientists dedicated to biopharmaceutical R&D, achieving a key personnel retention rate of 95%[24]. - The leadership team includes experienced professionals with backgrounds in major pharmaceutical companies, ensuring a strong foundation for future growth[122]. - The management team has a diverse background in both scientific and operational roles, ensuring a comprehensive approach to biopharmaceutical development and manufacturing[128][132]. Corporate Governance and ESG - The company received several awards for its services and ESG practices, including the 2022 CMO Leadership Award for the fifth consecutive year[64]. - The company was recognized as the highest-rated ESG company in the Asia-Pacific region by Sustainalytics for the second consecutive year[64]. - The company has set ESG as a core strategic focus for long-term development, prioritizing diversity, equity, and inclusion[62]. - The leadership team is committed to maintaining high standards of corporate governance and operational integrity[121]. Market Outlook and Future Guidance - The company provided an optimistic outlook for the next fiscal year, projecting revenue growth of 20% to $1.44 billion[127]. - Future guidance indicates a commitment to increasing production capacity and improving service delivery to meet growing market demands[121]. - The global biopharmaceutical outsourcing market is expected to continue growing in the coming years due to increasing demand for innovative drugs and therapies[67].
药明生物(02269) - 2022 - 年度财报