Sinotherapeutics (SH:688247)2023-10-30 16:00Financial Performance - The company's revenue for Q3 2023 was ¥102,598,920.92, representing a year-over-year increase of 73.75%[5] - Net profit attributable to shareholders decreased by 20.84% to ¥21,294,052.45 for the quarter, and by 34.32% to ¥44,072,638.03 year-to-date[5] - The net profit excluding non-recurring gains and losses was ¥18,705,636.05, down 20.55% for the quarter and 43.78% year-to-date[5] - Basic and diluted earnings per share for the quarter were both ¥0.05, down 26.52% compared to the previous year[6] - Operating profit for Q3 2023 was ¥47,892,033.36, down from ¥73,362,201.58 in Q3 2022, indicating a decline of about 34.7%[22] - Net profit for Q3 2023 was ¥44,072,638.03, compared to ¥67,102,611.35 in Q3 2022, reflecting a decrease of approximately 34.3%[22] - The net profit attributable to shareholders of the parent company for Q3 2023 is ¥44,072,638.03, a decrease from ¥67,102,611.35 in Q3 2022, representing a decline of approximately 34.4%[23] - Basic and diluted earnings per share for Q3 2023 are both ¥0.10, down from ¥0.16 in Q3 2022, indicating a decrease of 37.5%[24] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥37,395,121.76, a decrease of 30.67%[6] - Cash inflow from operating activities for the first three quarters of 2023 is ¥270,231,279.49, compared to ¥185,618,714.91 in the same period of 2022, reflecting an increase of approximately 45.6%[24] - Cash outflow from operating activities for the first three quarters of 2023 is ¥232,836,157.73, up from ¥131,680,366.78 in the same period of 2022, an increase of about 76.7%[24] - The net cash flow from operating activities for the first three quarters of 2023 is ¥37,395,121.76, down from ¥53,938,348.13 in the same period of 2022, a decrease of approximately 30.6%[24] - Cash inflow from investment activities for Q3 2023 is ¥2,353,834,636.33, significantly higher than ¥983,635,590.67 in Q3 2022, marking an increase of about 139.5%[25] - Cash outflow from investment activities for Q3 2023 is ¥2,986,051,751.49, compared to ¥1,172,783,842.79 in Q3 2022, an increase of approximately 154.5%[25] - The net cash flow from investment activities for Q3 2023 is -¥632,217,115.16, worsening from -¥189,148,252.12 in Q3 2022[25] - The net cash flow from financing activities for Q3 2023 is -¥28,250,724.52, compared to a positive net cash flow of ¥376,422,758.87 in Q3 2022[25] - The ending balance of cash and cash equivalents for Q3 2023 is ¥141,813,354.62, down from ¥756,673,147.78 in Q3 2022, indicating a decrease of approximately 81.3%[25] Research and Development - Research and development expenses totaled ¥15,806,830.90 for the quarter, a decrease of 1.92%, and accounted for 15.41% of revenue, down 11.88 percentage points[6] - Research and development expenses for Q3 2023 were ¥43,413,700.00, down from ¥51,411,301.00 in Q3 2022, indicating a reduction of about 15.5%[22] Assets and Liabilities - Total assets at the end of the quarter were ¥1,353,037,344.69, an increase of 1.55% from the end of the previous year[6] - Total assets as of September 30, 2023, amounted to ¥1,353,037,344.69, up from ¥1,332,333,946.07 at the end of 2022, showing an increase of about 1.5%[19] - Non-current assets increased to ¥403,808,806.21 from ¥378,623,509.74, marking a growth of approximately 6.6%[18] - Current liabilities totaled ¥102,602,454.07, rising from ¥90,053,080.89, which is an increase of about 14.0%[18] - The total liabilities as of September 30, 2023, were ¥159,733,876.38, compared to ¥155,050,076.37 at the end of 2022, reflecting a slight increase of about 3.0%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,723[12] - Shanghai Lianhe Investment Co., Ltd. holds 51.40% of shares, totaling 233,000,000 shares[12] - The top ten shareholders hold a significant portion of shares, with the largest shareholder holding over 51%[12] - The report indicates that the company has a diverse shareholder base, including foreign and domestic entities[12] Strategic Partnerships and Developments - The company signed a development, distribution, and supply agreement with Lannett Company, Inc. for the development of a product, with potential milestone payments up to $6 million[16] - The product Citric Acid Tofacitinib Extended-Release Tablets received FDA approval during the reporting period[16] - The company expects to receive a sales share from Lannett for the products developed under the agreement[16] - The company has a partnership with Lannett for exclusive intellectual property rights in the U.S. market[16] - The company has made strategic moves to expand its product offerings in the U.S. market[16] Other Information - The company attributed the revenue increase to the successful inclusion of certain products in national procurement and insurance directories, which boosted sales[10] - The decline in net profit was primarily due to reduced income from self-developed projects and increased production costs for raw materials[10] - The company reported a significant increase in non-recurring gains due to unexpected factors leading to operational losses, amounting to an increase of ¥570.43 million compared to the previous year[10] - The report does not indicate any significant changes in the financial audit status, remaining unaudited[16]