2022-11-11 16:00Financial Performance - The company's revenue for Q3 2022 was CNY 265,851.60 million, representing a year-over-year increase of 99.05%[1] - The net profit attributable to shareholders for Q3 2022 was CNY -376,983.20 million, with a year-to-date net profit of CNY -1,043,364.80 million[3] - Total revenue for the first three quarters of 2022 reached RMB 6,868,770 thousand, an increase of 10.3% compared to RMB 6,226,519 thousand in the same period of 2021[20] - The net loss attributable to shareholders for the first three quarters of 2022 was RMB 10,433,648 thousand, compared to a net loss of RMB 5,500,355 thousand in the same period of 2021[21] - Operating profit for the first three quarters of 2022 was a loss of RMB 10,348,833 thousand, worsening from a loss of RMB 5,315,735 thousand in the same period of 2021[20] Research and Development - Research and development (R&D) expenses totaled CNY 300,163.40 million in Q3 2022, an increase of 26.70% compared to the same period last year[3] - R&D expenses accounted for 112.91% of revenue in Q3 2022, a decrease of 64.48 percentage points from the previous year[3] - Research and development expenses increased to RMB 8,017,379 thousand in the first three quarters of 2022, up from RMB 6,520,497 thousand in the same period of 2021, reflecting a growth of 22.9%[20] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY -645,889.50 million, indicating increased cash outflow due to expanded operations[3] - Operating cash inflow for the first three quarters of 2022 was CNY 10,716,565 thousand, up from CNY 7,421,627 thousand in the same period of 2021, representing an increase of approximately 44.5%[22] - Net cash flow from operating activities for the first three quarters of 2022 was -CNY 6,458,895 thousand, compared to -CNY 5,175,561 thousand in the same period of 2021, indicating a decline in performance[22] - The ending balance of cash and cash equivalents as of the end of the reporting period was CNY 27,193,265 thousand, compared to CNY 8,554,254 thousand at the end of the same period last year, reflecting a substantial increase[23] - The company received CNY 9,260,253 thousand in cash from sales of goods and services, an increase from CNY 7,192,627 thousand in the previous year, representing a growth of approximately 28.8%[22] Assets and Liabilities - The total assets at the end of Q3 2022 were CNY 4,783,119.50 million, down 13.33% from the end of the previous year[3] - The equity attributable to shareholders decreased to CNY 3,314,278.20 million, a decline of 16.99% compared to the previous year[3] - Total current liabilities decreased slightly to RMB 10,076,745 thousand from RMB 10,204,479 thousand as of December 31, 2021[18] - The company's total equity attributable to shareholders decreased to RMB 33,142,782 thousand from RMB 39,925,772 thousand as of December 31, 2021, a decline of approximately 16.8%[19] - The total liabilities decreased to RMB 14,688,413 thousand from RMB 15,258,939 thousand as of December 31, 2021, indicating a reduction of approximately 3.7%[18] Shareholder Information - The company has issued a total of 1,349,640,180 shares, with 91.48% of shares being issued overseas[10] - Total number of common stock shareholders at the end of the reporting period was 59,692[11] - Amgen Inc. held 246,269,426 shares, representing 18.25% of total shares[12] - Baker Brothers Life Sciences, L.P. and its affiliates held 152,487,561 shares, accounting for 11.30%[12] - HHLR Fund, L.P. and its affiliates owned 147,035,258 shares, which is 10.89% of total shares[12] - Capital Research and Management Company and its affiliates held 106,958,925 shares, representing 7.92%[12] - The company has 59,683 registered common stock shareholders, including 59,531 in RMB shares[13] Risks and Uncertainties - The company emphasizes the high risks and uncertainties in the biopharmaceutical industry, affecting drug development and commercialization[14] - The company is dependent on third parties for drug development and production, which may impact its operations[14] - Future business plans and actual performance may significantly differ from the company's expectations due to various uncertainties[14] - The company has limited experience in obtaining regulatory approvals and commercializing drugs, which poses additional risks[14] Financial Expenses - The company reported a significant increase in financial expenses, which rose to RMB 1,540,939 thousand in the first three quarters of 2022, compared to RMB 127,038 thousand in the same period of 2021[20]