2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥255,154,522.24, representing a decrease of 59.47% compared to the same period last year[4]. - Total revenue for Q1 2023 was ¥255,154,522.24, a decrease of 59.5% compared to ¥629,519,132.31 in Q1 2022[16]. - Operating profit for Q1 2023 was -¥633,218,295.88, compared to -¥377,914,059.91 in Q1 2022, indicating a worsening loss[16]. - Net loss attributable to shareholders for Q1 2023 was -¥543,432,303.73, compared to -¥396,395,486.59 in Q1 2022[17]. - The company reported a comprehensive loss of -¥667,067,229.83 for Q1 2023, compared to -¥471,770,135.33 in Q1 2022[17]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.55, compared to -¥0.44 in Q1 2022, indicating a deeper loss per share[17]. Cash Flow - The net cash flow from operating activities was -¥720,250,964.89, a decline of 226.26% year-on-year[4]. - In Q1 2023, the company reported cash inflows from operating activities of $302,002,091.08, a significant decrease from $1,544,045,956.19 in Q1 2022, reflecting a decline of approximately 80.5%[18]. - The net cash flow from operating activities was negative at -$720,250,964.89, compared to a positive $570,432,127.10 in the same quarter last year[18]. - Cash inflows from investment activities totaled $432,767,530.31, a substantial increase from $10,234,381.32 in Q1 2022[18]. - The net cash flow from investment activities was -$492,872,825.63, worsening from -$175,320,677.30 year-over-year[18]. - Cash inflows from financing activities amounted to $248,567,750.19, down from $380,000,000.00 in Q1 2022, representing a decline of approximately 34.6%[19]. - The net cash flow from financing activities was $211,453,160.70, compared to $357,189,314.87 in the previous year, indicating a decrease of about 40.9%[19]. - The company experienced a net decrease in cash and cash equivalents of -$1,012,308,195.11, contrasting with an increase of $753,748,651.03 in Q1 2022[19]. - As of the end of Q1 2023, the cash and cash equivalents balance stood at $4,984,627,802.72, compared to $4,258,353,489.75 at the end of Q1 2022[19]. Research and Development - R&D investment totaled ¥527,659,904.54, accounting for 206.80% of operating revenue, an increase of 125.64 percentage points compared to the previous year[5][8]. - Research and development expenses increased to ¥527,659,904.54 in Q1 2023, up from ¥510,912,040.65 in Q1 2022, reflecting a focus on innovation[16]. - The company has achieved primary endpoints in two Phase III clinical studies for Toripalimab in the treatment of operable non-small cell lung cancer and advanced triple-negative breast cancer[11]. - The company aims to submit and obtain approval for new drug applications for its late-stage products, including the PARP inhibitor Senaparib and a humanized anti-PCSK9 monoclonal antibody injection[11]. Assets and Equity - Total assets at the end of the reporting period were ¥12,130,928,476.30, down 3.40% from the end of the previous year[5]. - Total assets decreased to ¥12,130,928,476.30 in Q1 2023 from ¥12,558,496,175.43 in Q1 2022, a decline of 3.4%[15]. - Total liabilities increased to ¥2,856,550,964.10 in Q1 2023 from ¥2,782,035,912.21 in Q1 2022, an increase of 2.7%[15]. - Shareholders' equity attributable to the parent company was ¥8,949,235,488.32, a decrease of 5.63% from the previous year[5]. - The total equity attributable to shareholders decreased to ¥8,949,235,488.32 in Q1 2023 from ¥9,483,626,151.70 in Q1 2022, a decline of 5.6%[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,266[9]. - The largest shareholder, HKSCC NOMINEES LIMITED, held 22.25% of the shares, totaling 219,291,230 shares[9]. Product Performance - The revenue from the commercialized product, Toripalimab injection (brand name: Tuoyi®), reached approximately CNY 195.68 million, representing a year-on-year growth of about 77.84%[11]. - The sales revenue of Adalimumab injection (brand name: Junmaikang®) was approximately CNY 29.08 million, while the sales revenue of Dexamethasone Hydrochloride Tablets (brand name: Mindewi®) was approximately CNY 11.50 million[11]. - Mindewi® has received conditional approval for marketing from the National Medical Products Administration and has been temporarily included in the medical insurance payment scope[11]. Collaborations and Future Outlook - The company expects continued rapid revenue growth driven by the approval of new indications for Toripalimab and the commercialization of other late-stage clinical products[11]. - The company has established a collaboration with Rxilient Biotech Pte. Ltd. for the development and commercialization of Toripalimab in nine countries in Southeast Asia[11]. Other Information - The company received government subsidies amounting to ¥49,746,629.66 during the reporting period[6]. - The company did not apply new accounting standards or interpretations for the first time in 2023[20]. - The report was presented by the company's board on April 28, 2023[20].