2023-05-12 16:00Financial Performance - The company's revenue for Q1 2023 reached CNY 3,066,389 thousand, representing a 57.4% increase year-over-year[4] - Product revenue accounted for CNY 2,807,965 thousand, marking a 69.0% growth compared to the same period last year[4] - The net loss attributable to shareholders was CNY -2,446,580 thousand, with a basic and diluted earnings per share of CNY -1.81[6] - Total revenue for Q1 2023 reached RMB 3,066,389 thousand, a 57.4% increase from RMB 1,947,858 thousand in Q1 2022[21] - Net loss for Q1 2023 was RMB 2,446,580 thousand, an improvement from a net loss of RMB 2,866,345 thousand in Q1 2022[22] - The total comprehensive loss for Q1 2023 was RMB -2,537,142 thousand, compared to RMB -3,063,036 thousand in Q1 2022[23] Expenses and Costs - Research and development expenses totaled CNY 2,818,146 thousand, constituting 91.9% of total revenue, a decrease of 37.3 percentage points from the previous year[6][10] - Total operating costs increased to RMB 5,640,428 thousand, up 19.5% from RMB 4,720,140 thousand in the same period last year[21] - R&D expenses rose to RMB 2,818,146 thousand, reflecting a 12% increase compared to RMB 2,516,771 thousand in Q1 2022[21] Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY -3,577,897 thousand, indicating a significant cash outflow[4] - Cash flow from operating activities showed a net outflow of RMB 3,577,897 thousand, worsening from a net outflow of RMB 1,961,086 thousand in the previous year[24] - Cash and cash equivalents at the end of Q1 2023 totaled RMB 17,812,155 thousand, down from RMB 25,544,570 thousand at the end of Q1 2022[25] - The company's cash and cash equivalents were CNY 17,820,387 thousand, down from CNY 20,132,630 thousand in December 2022, representing a decline of approximately 6.5%[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 40,975,910 thousand, down 7.3% from the end of the previous year[6] - As of March 31, 2023, the company's total assets amounted to CNY 40,975,910 thousand, a decrease from CNY 44,224,173 thousand at the end of 2022[19] - The total liabilities decreased to CNY 12,377,256 thousand from CNY 13,893,114 thousand, indicating a reduction of approximately 10.9%[20] - The company's equity attributable to shareholders was CNY 28,598,654 thousand, down from CNY 30,331,059 thousand, a decline of about 5.7%[20] Shareholder Information - The company has a total of 1,362,652,101 shares issued, with 91.56% of shares held overseas[12] - The number of registered shareholders was 45,322, including 45,162 domestic shareholders and 8 American depositary share holders[15] Other Financial Activities - The company received government grants amounting to CNY 129,210 thousand during the period[7] - The total non-recurring gains and losses amounted to CNY 167,156 thousand after tax adjustments[7] - Investment activities generated a net cash inflow of RMB 1,538,416 thousand, compared to RMB 1,790,489 thousand in the same quarter last year[24] - The company received RMB 195,692 thousand from investment activities in Q1 2023, up from RMB 75,446 thousand in Q1 2022[25] Risks and Challenges - The company highlighted potential risks in drug development due to long R&D cycles and regulatory uncertainties, which may impact future performance[17]