Bio-Thera(SH:688177)2021-10-27 16:00Financial Performance - The company's revenue for Q3 2021 was ¥86,728,441.36, representing a 50.31% increase compared to the same period last year[5]. - Year-to-date revenue reached ¥415,396,572.73, showing a significant increase of 290.09% year-over-year[5]. - The net profit attributable to shareholders for Q3 2021 was -¥114,440,638.46, with a year-to-date net profit of -¥111,824,394.81[5]. - Total revenue for the first three quarters of 2021 reached RMB 415,396,572.73, a significant increase from RMB 106,487,540.51 in the same period of 2020, representing a growth of approximately 290%[40]. - Total operating costs for the first three quarters of 2021 were RMB 541,082,519.33, compared to RMB 504,267,561.52 in 2020, indicating an increase of about 7.3%[40]. - The company reported a net loss of RMB 1,574,583,578.36 for the first three quarters of 2021, compared to a net loss of RMB 1,462,759,183.55 in the same period of 2020, indicating an increase in losses of about 7.6%[37]. - The net profit for the third quarter was -111,824,394.81 RMB, compared to -362,001,566.87 RMB in the same period last year, showing an improvement[46]. - The total comprehensive income for the third quarter was -111,839,232.53 RMB, compared to -362,033,412.21 RMB in the same quarter last year[46]. - Basic and diluted earnings per share were both -0.27 RMB, an improvement from -0.90 RMB in the previous year[46]. - The total profit for the quarter was -102,860,742.81 RMB, an improvement from -362,001,566.87 RMB year-over-year[46]. Research and Development - R&D expenses totaled ¥144,757,799.47 in Q3 2021, accounting for 166.91% of revenue, a decrease of 96.44 percentage points from the previous year[8]. - Research and development expenses for the first three quarters of 2021 amounted to RMB 372,935,102.68, a decrease from RMB 396,544,871.09 in the previous year, reflecting a reduction of approximately 5.9%[40]. - The company is committed to ongoing research and development, as evidenced by its adjustments to clinical trial funding and new product agreements[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,282,678,780.24, down 4.62% from the previous year[8]. - Total assets decreased to RMB 2,282,678,780.24 as of September 30, 2021, from RMB 2,393,159,821.09 at the end of 2020, reflecting a decline of approximately 4.6%[37]. - Total liabilities as of September 30, 2021, were RMB 388,914,929.93, slightly up from RMB 387,556,738.25 at the end of 2020, indicating a marginal increase of about 0.4%[37]. - The company's equity attributable to shareholders decreased to RMB 1,893,763,850.31 as of September 30, 2021, from RMB 2,005,603,082.84 at the end of 2020, representing a decline of approximately 5.6%[37]. - Current liabilities were reported at 385,363,808.72, with accounts payable at 84,791,340.38 and contract liabilities at 136,708,362.24[56]. - Total liabilities increased from 387,556,738.25 to 392,751,401.84, indicating a rise in financial obligations[59]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,064[16]. - The largest shareholder, Guangzhou Qixi Group Co., Ltd., held 38.64% of the shares, totaling 159,990,270 shares[16]. - The top ten unrestricted shareholders hold significant stakes, with Zhuhai Jifu Qiheng Pharmaceutical Investment Partnership holding 19,099,471 shares[21]. - The company reported a total of 23,173,326 shares held by Guangzhou Qiao Investment Partnership, indicating strong domestic investment interest[20]. Strategic Partnerships and Agreements - The company signed a licensing and commercialization agreement with Hikma Pharmaceuticals USA Inc. for BAT2206 (Ustekinumab) injection, with total upfront and milestone payments up to $150 million, including a $20 million upfront payment and up to $130 million in milestone payments[28]. - The company also entered into a licensing agreement with Sandoz AG for BAT1706 (Bevacizumab) injection, with total payments up to $155 million, including a $27.5 million upfront payment and up to $127.5 million in milestone payments[30]. - The company is focusing on expanding its market reach through strategic licensing agreements and partnerships with established pharmaceutical companies[28]. - The company has established various partnerships and collaborations, enhancing its market presence and product development capabilities[22]. Cash Flow and Financial Health - Cash and cash equivalents as of September 30, 2021, were RMB 537,732,769.08, up from RMB 283,509,080.91 at the end of 2020, showing an increase of about 89.5%[36]. - The net cash flow from operating activities was -132,701,105.63 RMB, an improvement from -355,543,726.71 RMB in the previous year[48]. - The company reported a net cash inflow from investment activities of 356,538,981.54 RMB, compared to a net outflow of -1,179,957,877.56 RMB last year[50]. - The company received 26,854,579.59 RMB in tax refunds during the first nine months, contributing to the cash flow from operating activities[48]. - The cash and cash equivalents at the end of the period amounted to 523,712,042.28 RMB, up from 270,097,979.18 RMB at the end of the previous year[50].