2023-10-30 16:00Financial Performance - The company's revenue for Q3 2023 reached RMB 10.67 billion, a year-on-year increase of 0.30%[8] - Net profit attributable to shareholders was RMB 2.76 billion, reflecting a year-on-year increase of 0.77%[8] - The net profit excluding non-recurring gains and losses was RMB 2.95 billion, up 23.76% year-on-year[8] - The diluted earnings per share for Q3 2023 was RMB 0.94, a 16.05% increase year-on-year[9] - The company achieved a revenue of RMB 2,954,132.61 million in the first three quarters of 2023, representing a year-on-year growth of 4.0%[13] - Total operating revenue for the first three quarters of 2023 reached ¥29,541,326,133.58, an increase from ¥28,394,561,790.41 in the same period of 2022, representing a growth of approximately 4%[27] - Net profit for the first three quarters of 2023 was ¥8,148,647,084.33, up from ¥7,446,617,606.20 in 2022, reflecting an increase of approximately 9.4%[27] - Basic earnings per share for the first three quarters of 2023 was ¥2.75, compared to ¥2.52 in the previous year, representing an increase of about 9.1%[28] - The company reported a net profit of CNY 2,791,751,000 in Q3 2023, slightly up from CNY 2,770,959,000 in Q3 2022, indicating consistent profitability[34] Revenue Breakdown - Revenue from U.S. clients was RMB 19.4 billion, a 36% increase year-on-year after excluding specific commercial production projects[12] - Revenue from the top 20 global pharmaceutical companies reached RMB 11.82 billion, showing a strong growth of 43% year-on-year after excluding specific commercial production projects[12] - The chemical business generated revenue of RMB 212.4 billion, a 2.0% increase year-on-year, with a strong growth of 31.0% when excluding specific commercial production projects[14] - The testing business reported revenue of RMB 48.5 billion, up 16.2% year-on-year, with a gross margin of 38.6%, an increase of 1.8 percentage points[15] - The biology business achieved revenue of RMB 18.9 billion, a 6.5% increase year-on-year, with a gross margin of 42.8%[16] - The TIDES business revenue reached RMB 20.7 billion, reflecting a robust growth of 38.1% year-on-year, with a significant order backlog increase of 245%[14] - The cell and gene therapy CTDMO business generated revenue of RMB 10.3 billion, growing by 11.6%, although it reported a negative gross margin of -6.1%[16] - The domestic new drug development services segment saw a revenue decline of 26.9% to RMB 4.9 billion, despite an improved gross margin of 31.6%[17] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period increased by 33.82% to RMB 10.32 billion[11] - The company's total assets as of the end of Q3 2023 were RMB 71.76 billion, a 10.93% increase from the end of the previous year[9] - The company's total cash and cash equivalents at the end of Q3 2023 stood at CNY 9,446,351,731, an increase from CNY 9,213,956,461 at the end of Q3 2022[31] - The net cash flow from operating activities for the first three quarters of 2023 was CNY 10,316,787,860, significantly higher than CNY 7,709,650,548 in the same period of 2022, indicating improved operational efficiency[30] - The company’s total liabilities increased to ¥19,770,878,845.60 from ¥17,763,654,011.21, indicating a rise of about 11.3%[27] - The company’s total liabilities as of September 30, 2023, were reported to be lower than the previous year, indicating improved financial health[36] Future Outlook - In Q4 2023, the company expects revenue from non-specific commercial production projects to exceed RMB 10 billion for the first time, with a projected growth of 29-34% excluding specific projects[18] - The overall revenue for 2023 is anticipated to surpass RMB 40 billion, with a growth of 25-26% when excluding specific commercial production projects[18] - The adjusted non-IFRS gross margin for 2023 is raised to approximately 41.7-42.1%, an increase of about 0.5 percentage points[18] - The adjusted net profit attributable to the parent company is expected to exceed RMB 10 billion for the first time in 2023[18] - Free cash flow under IFRS for 2023 is projected to be between RMB 4.5-5 billion, over 17 times that of the same period last year[18] - The company has adjusted its revenue growth forecast for 2023 from 5-7% to 2-3% due to lower-than-expected demand in early-stage drug development[18] Shareholder Information - The total number of ordinary shareholders as of September 30, 2023, is 202,845[20] - The largest shareholder, HKSCC NOMINEES LIMITED, holds 402,500,362 shares, representing 13.56% of the total[20] - The company’s total equity attributable to shareholders increased to CNY 51,586,653 thousand from CNY 46,589,953 thousand, reflecting a growth of about 10.5%[38] Research and Development - The company added 926 new molecules to its D&M pipeline, surpassing a total of 3,000 molecules, including 58 commercial projects and 61 clinical phase III projects[14] - The company plans to continue focusing on R&D and market expansion strategies to drive future growth, although specific figures were not disclosed in the report[32]