Financial Performance - For the nine months ended September 30, 2022, the company's operating revenue attributable to shareholders was RMB 77,605 thousand, a decrease of 92.42% compared to the same period last year[3]. - The net profit attributable to shareholders for the same period was a loss of RMB 486,649 thousand, representing a decline of 222.65% year-on-year[3]. - Total revenue for the first three quarters of 2022 was RMB 707,395 thousand, a significant decrease from RMB 3,085,775 thousand in the same period of 2021, representing a decline of approximately 77%[19]. - Operating profit for the first three quarters of 2022 was a loss of RMB 645,593 thousand, compared to a profit of RMB 1,295,251 thousand in the same period of 2021[22]. - Net profit attributable to shareholders for the first three quarters of 2022 was a loss of RMB 488,682 thousand, while in 2021, it was a profit of RMB 1,333,896 thousand, indicating a substantial decline[24]. - The company reported a total comprehensive loss of RMB 488,626 thousand for the first three quarters of 2022, contrasting with a total comprehensive income of RMB 1,333,896 thousand in the same period of 2021[27]. Expenses and R&D - Research and development expenses totaled RMB 229,531 thousand, an increase of 111.18% compared to the same period last year, with R&D expenses accounting for 295.77% of operating revenue[3]. - The company paid RMB 489,173 thousand in cash to employees in the first three quarters of 2022, an increase from RMB 255,832 thousand in 2021[29]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 11,539,285 thousand, a decrease of 2.82% from the end of the previous year[4]. - The equity attributable to shareholders decreased by 9.74% to RMB 7,216,494 thousand compared to the previous year-end[4]. - Total liabilities as of September 30, 2022, amounted to RMB 3,784,224 thousand, an increase from RMB 3,326,303 thousand as of December 31, 2021[17]. - Current liabilities totaled RMB 2,770,161 thousand as of September 30, 2022, down from RMB 2,861,417 thousand at the end of 2021, reflecting a decrease of approximately 3.2%[15]. - Non-current liabilities increased to RMB 1,014,063 thousand as of September 30, 2022, compared to RMB 464,886 thousand at the end of 2021[17]. Cash Flow - The net cash flow from operating activities for the nine months was a loss of RMB 525,814 thousand, a decline of 240.05% year-on-year[3]. - Operating cash flow for the first three quarters of 2022 was negative at RMB (1,393,278) thousand, compared to a positive RMB 1,243,273 thousand in the same period of 2021[29]. - Cash inflow from investment activities increased significantly to RMB 9,360,944 thousand in 2022, up from RMB 3,968,365 thousand in 2021[30]. - Net cash flow from financing activities in 2022 was RMB 628,605 thousand, a decrease from RMB 1,397,063 thousand in 2021[30]. - The total cash and cash equivalents at the end of Q3 2022 were RMB 2,964,816 thousand, down from RMB 4,864,798 thousand at the end of Q3 2021[31]. - The company reported a significant increase in cash received from investment recoveries, totaling RMB 8,836,912 thousand in 2022 compared to RMB 3,936,000 thousand in 2021[30]. - The net cash flow from investment activities was negative at RMB (1,923,586) thousand in 2022, compared to RMB (2,233,144) thousand in 2021[30]. Market Conditions - The company attributed the significant decline in revenue and profit primarily to a sharp decrease in demand for COVID-19 vaccines and adjustments in product pricing[6]. - The company has identified a competitive market environment for COVID-19 vaccines, with a notable decrease in demand since 2021, leading to potential challenges in future sales[10]. - The company has conducted impairment tests on COVID-19 vaccine-related assets due to signs of impairment, reflecting a proactive approach to asset management in a changing market[10]. Shareholder Information - The top shareholder, HKSCC Nominees Limited, holds 39.63% of the total shares, with a total of 98,062,297 shares[9].
康希诺生物(06185) - 2022 Q3 - 季度财报