2022-08-30 16:00Financial Performance - The company's operating revenue for the first half of the year reached ¥350,374,980.22, a significant increase of 1,033.35% compared to ¥30,915,051.58 in the same period last year[17]. - The net profit attributable to shareholders was -¥489,125,226.86, compared to -¥444,042,993.77 in the previous year, indicating a continued loss[17]. - The net cash flow from operating activities was -¥698,888,452.45, worsening from -¥514,465,392.02 year-on-year[17]. - The company's total assets increased by 46.88% to ¥6,109,215,017.45 from ¥4,159,208,876.60 at the end of the previous year[17]. - The total operating costs for the first half of 2022 were ¥839,918,272.42, compared to ¥483,799,954.54 in the previous year, indicating an increase of about 74%[193]. - The net loss for the first half of 2022 was ¥489,125,226.86, compared to a net loss of ¥444,042,993.77 in the same period of 2021, reflecting a deterioration in financial performance[193]. Research and Development - The proportion of R&D investment to operating revenue decreased significantly to 128.34% from 1,056.46% in the previous year, reflecting a reduction of 928.12 percentage points[18]. - The total R&D investment for the period reached ¥449,671,836.54, a 37.68% increase compared to ¥326,604,422.39 in the same period last year[39]. - The increase in R&D expenses is attributed to the expansion of the R&D pipeline and rising personnel costs due to salary increases[40]. - The company has 1,107 R&D personnel, up from 891 in the previous year, with R&D personnel constituting 44.28% of the total workforce[45]. - The average salary for R&D personnel increased to ¥15.07 million from ¥10.31 million year-on-year[45]. Clinical Trials and Product Development - The company has developed Taitasip, a first-in-class dual-target fusion protein for treating autoimmune diseases, which has received multiple patent approvals globally[25]. - Taitalisip received conditional approval for moderate to severe SLE in China in March 2021, with ongoing Phase III trials expected to report results by the end of 2022[26]. - The company has initiated a Phase III clinical trial for Taitalisip in the treatment of IgA nephropathy in China, following positive results from a Phase II trial[27]. - The company has entered into a licensing agreement with Seattle Genetics for the antibody-drug conjugate RC48, with a deal value of up to $2.6 billion, setting a record for overseas licensing of a single product by a Chinese pharmaceutical company[29]. - The company is advancing several projects, including RC88 and RC98, both in the I phase of clinical trials, with significant investments of ¥14,290.24 million and ¥9,047.89 million respectively[43]. Environmental Compliance - The company generated 43,480 tons of wastewater during the reporting period, with ammonia nitrogen concentration at 15.7 mg/L, well below the limit of 45 mg/L[80]. - Chemical oxygen demand (COD) was reported at 146 mg/L, significantly under the limit of 500 mg/L, with a total discharge of 6.902 tons[80]. - The company has implemented a comprehensive waste management system, ensuring proper handling of both general and hazardous waste[89]. - No administrative penalties were imposed on the company for environmental issues during the reporting period[88]. Shareholder Commitments and Governance - The company reported a lock-up period of 36 months for major shareholders, during which they cannot transfer or manage their shares[94]. - Major shareholders are restricted from selling more than 2% of their shares in the first five fiscal years after the IPO, with specific conditions tied to profitability[94]. - The company has established strict compliance measures for major shareholders regarding share lock-up and reduction policies[97]. - The company has committed to not repurchasing shares held by major shareholders during the lock-up period[94]. - The company will ensure compliance with the Shanghai Stock Exchange's regulations regarding share reduction and information disclosure[112]. Market and Sales Strategy - The company has established a sales team of 241 members for autoimmune products, covering 1,021 hospitals across 31 provincial-level administrative units in China[54]. - The oncology sales team consists of 291 members, with the product Vidi Xi Tuo Monoclonal Antibody being included in the national medical insurance directory, enhancing its market accessibility[54]. - The company plans to expand its raw material production capacity to over 80,000 liters by the end of 2025, supported by a production system compliant with global GMP standards[56]. - The company is focused on expanding its product pipeline across multiple disease treatment areas, maintaining significant R&D investments for clinical trials and new drug preparations[62]. Financial Management and Fundraising - The company successfully completed its A-share issuance on the Sci-Tech Innovation Board, raising a total of 2.612 billion yuan, which will support R&D and production facility expansion[59]. - The total amount of raised funds from the initial public offering on the Sci-Tech Innovation Board was ¥2,612,462,448, with a net amount of ¥2,505,945,496 after deducting issuance costs[166]. - The cumulative investment in the biopharmaceutical industrialization project reached ¥112,694,465.49, representing 11.53% of the committed investment of ¥1,600,000,000[167]. - The company has engaged in cash management of idle raised funds, investing a total of ¥589,500,000 in structured deposits[172]. Compliance and Legal Matters - The company confirmed that there were no significant lawsuits or arbitration matters during the reporting period[158]. - The company has no non-operating fund occupation by controlling shareholders or related parties[156]. - The company has no significant guarantees during the reporting period[157]. - The company has established binding measures in the relevant commitments to ensure compliance[126].