Bio-Thera(SH:688177)2020-10-29 16:00Financial Performance - Operating revenue for the period was ¥106,487,540.51, a significant increase of 15,112.51% compared to the same period last year[17]. - The net profit attributable to shareholders of the listed company was -¥362,001,566.87, an improvement from -¥884,097,998.56 in the previous year[17]. - Total revenue for the third quarter of 2020 was approximately ¥57.70 million, compared to ¥0.70 million in the same period of 2019, representing a significant increase[53]. - The company reported a net loss of approximately ¥1.29 billion for the first nine months of 2020, compared to a loss of ¥926.53 million in the same period of 2019[51]. - Total profit for the first nine months of 2020 was a loss of CNY 362,269,915.39, compared to a loss of CNY 884,097,998.56 for the same period in 2019[66]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,369,697,450.22, an increase of 133.62% compared to the end of the previous year[17]. - Total assets as of September 30, 2020, amounted to ¥2.37 billion, up from ¥1.02 billion at the end of 2019, indicating strong growth[50]. - The total liabilities decreased to approximately ¥212.82 million from ¥383.68 million year-over-year, showing a reduction in financial obligations[50]. - Total liabilities were CNY 383,680,412.84, with current liabilities at CNY 380,471,590.15 and non-current liabilities at CNY 3,208,822.69[84]. Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥2,156,867,948.93, reflecting a growth of 242.00% year-over-year[17]. - The company had a total of 12,333 shareholders at the end of the reporting period[22]. - The largest shareholder, Guangzhou Qixi Group Co., Ltd., held 38.64% of the shares, totaling 159,990,270 shares[22]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥355,543,726.71, showing an improvement from -¥484,642,481.23 in the previous year[17]. - Cash inflow from operating activities for the first three quarters of 2020 was RMB 149.89 million, a significant increase from RMB 11.82 million in the same period of 2019[69]. - The company reported a net cash outflow from operating activities of approximately RMB -355.54 million in Q3 2020, an improvement from RMB -484.64 million in Q3 2019[69]. - Net cash inflow from financing activities increased by CNY 1,275,290,609.23, a growth of 252.55%, mainly due to funds raised from the IPO[33]. Research and Development - Research and development expenses accounted for 372.39% of operating revenue, indicating a strong focus on innovation[19]. - Research and development expenses for the third quarter of 2020 were approximately ¥151.95 million, slightly down from ¥159.36 million in the same quarter of 2019[53]. - R&D expenses decreased by CNY 114,799,100.73, a decline of 22.45%, due to varying costs associated with different stages of R&D projects[31]. Expenses - Operating costs rose by CNY 11,778,062.02, an increase of 9219.62%, mainly attributed to the costs associated with product sales[31]. - Sales expenses surged by CNY 47,754,859.33, a growth of 880.11%, due to increased personnel and other costs related to Gelerit上市[31]. - Management expenses decreased by CNY 334,277,216.38, down 88.62%, primarily due to a one-time equity incentive expense recognized in 2019[31]. Government Support - The company received government subsidies amounting to ¥23,065,318.40 during the year-to-date[19]. - Other income increased by CNY 5,890,294.12, a growth of 64.20%, mainly from increased government subsidies related to income[31]. Future Outlook - The company expects to continue incurring losses in the next reporting period due to the high technical risks and long R&D cycles in the biopharmaceutical field[34].