Company Performance - In 2022, SciClone achieved remarkable results despite unprecedented challenges from the pandemic and geopolitical conflicts[8]. - In 2022, SciClone achieved revenue of RMB2,749.7 million, a 9.2% increase from the previous year[19]. - Gross profit for 2022 rose to RMB2,070.5 million, reflecting a 7.1% growth year-over-year[19]. - Net profit decreased to RMB855.4 million due to a fair value loss of RMB80.5 million and an impairment loss of RMB99.5 million on intangible assets[19]. - Core net profit from normal operations increased by 5.6% to RMB1,035.4 million compared to 2021[19]. - Operating cash flow reached RMB1,183.6 million, up RMB154.1 million or 15.0% from the previous year[19]. - The company aims to continue consolidating patients, physicians, and pharmacies onto the Hi-Doctor platform to enhance the GTP contribution for Zometa[87]. - Revenue for the year ended December 31, 2022, increased to approximately RMB 2,749.7 million, representing a growth of about 9.2% compared to the previous year[92]. - Sales revenue from the proprietary product Zadaxin rose by RMB 190.3 million, or 9.6%, from RMB 1,978.0 million in 2021 to RMB 2,168.3 million in 2022[94]. Drug Development and Clinical Trials - Zadaxin has been in clinical use for nearly 30 years since its approval in Italy in 1993, benefiting tens of thousands of patients worldwide[10]. - The company has more than 10 ongoing clinical studies in China and overseas, focusing on oncology and severe infections[35]. - A clinical study published in May 2022 showed Tα1 significantly improved the 90-day liver transplantation-free survival rate to 75% compared to 53.4% in the control group[37]. - Tα1 has been included in eight additional treatment guidelines and consensuses as of December 31, 2022, including its first recommendation in gastric cancer guidelines[42]. - A pilot trial of Tα1 for hospitalized patients with hypoxemia and lymphocytopenia due to COVID-19 concluded that Tα1 is safe and increases CD4+ T-cell count[40]. - The RCT of Tα1 combined with PD-1 antibody and apatinib in advanced gastric cancer has completed patient enrollment[40]. - Tα1 is the only immunomodulatory drug recommended for treating septic patients with immunosuppression in the Expert Consensus on Sepsis-induced Immunosuppression[43]. - The company has developed a pipeline of 9 drug candidates, with 5 in phase III or later stages overseas and a fast-to-market strategy in China[53]. - The company is conducting ongoing clinical trials for various products, including a Phase II trial for relapsed second-line osteosarcoma[57]. Financial Stability and Growth Strategy - As of December 31, 2022, cash and cash equivalents totaled approximately RMB2.6 billion, representing 88.2% of the company's net asset value[21]. - The debt-to-net asset ratio improved from 28.2% in 2021 to 19.3% in 2022[21]. - The ratio of total borrowings to total assets decreased to 19.3% from 28.2% as of December 31, 2021[24]. - The company is actively seeking acquisition opportunities in the challenging biotech market to support growth objectives[21]. - The company intends to actively search for potential acquisition targets to enhance its portfolio[88]. - The company aims to achieve operational efficiency through active development and investment in technologies and online platforms[30]. Supply Chain and Operational Response - The company successfully mobilized its global supply chain to ensure the availability of Zadaxin during a surge in demand due to COVID-19[9]. - The company established an emergency supply channel for Zadaxin to meet patient needs during the pandemic[9]. - SciClone's efforts in ensuring drug supply during critical times were recognized by experts and the community[9]. - Despite international supply chain disruptions and inflation pressures, the company ensured stable supply and minimized freight cost impacts[107]. Leadership and Governance - The leadership of CEO Zhao Hong was pivotal in navigating the company through challenging times[8]. - The company is committed to refining its remuneration and incentive policies to ensure competitive remuneration packages for employees[132]. - The company emphasizes the importance of compliance and governance, as highlighted by Ms. Hayes' role in the Audit Committee[150]. - The Board comprises ten Directors, including one executive Director, five non-executive Directors, and four independent non-executive Directors[172]. - The Company has established a board independence evaluation mechanism to enhance Board effectiveness and identify areas for improvement[180]. Research and Development - The company is focused on developing a pipeline of first-in-class or best-in-class products through strategic partnerships and R&D[12]. - The product development team consisted of approximately 110 members in 2022[50]. - The company is focusing on lead conjugate optimization for HSP90-PI3K SMDC, which is currently in pre-clinical stage[58]. - The company is committed to high ethical standards and aims to maximize shareholder wealth in the long term[169]. Market Position and Competitive Advantage - SciClone's commercialization capability is recognized as a key competitive advantage in the Chinese pharmaceutical industry[13]. - Brand loyalty for Zadaxin remains strong due to ongoing breakthroughs in severe infections and oncology[10]. - The company aims to enhance its market position through strategic partnerships and potential acquisitions in the pharmaceutical sector[154]. - The company is focused on expanding its oncology business unit, led by Mr. Chang Yansong, who has 27 years of marketing and business operation experience in the pharmaceutical industry[158].
赛生药业(06600) - 2022 - 年度财报