艾力斯(688578) - 2023 Q1 - 季度财报

I. Key Financial Data 1. Key Accounting Data and Financial Indicators Operating revenue grew by nearly 150%, turning net profit attributable to shareholders and non-recurring net profit from losses to gains, while assets and equity grew steadily Key Accounting Data and Financial Indicators (Q1 2023 vs Q1 2022) | Item | Amount for Current Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 276,505,592.07 | 148.75 | | Net Profit Attributable to Shareholders of Listed Company | 34,877,411.06 | N/A (Turned Loss into Profit) | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | 19,762,135.04 | N/A (Turned Loss into Profit) | | Net Cash Flow from Operating Activities | -20,544,885.76 | N/A | | Basic Earnings Per Share (RMB/share) | 0.08 | N/A | | Diluted Earnings Per Share (RMB/share) | 0.08 | N/A | | Weighted Average Return on Net Assets (%) | 1.06 | Increased by 1.82 percentage points | | Total R&D Investment | 63,535,586.23 | 28.10 | | R&D Investment as % of Operating Revenue | 22.98 | Decreased by 21.64 percentage points | Key Accounting Data and Financial Indicators (March 31, 2023 vs December 31, 2022) | Item | Amount at End of Current Period (RMB) | Amount at End of Prior Year (RMB) | Change from End of Prior Year (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3,457,407,140.04 | 3,442,172,227.84 | 0.44 | | Total Equity Attributable to Shareholders of Listed Company | 3,236,593,857.32 | 3,187,055,657.81 | 1.55 | 2. Non-Recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled 15.12 million RMB, mainly from government grants and financial asset fair value changes/investment income Non-Recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (RMB) | | :--- | :--- | | Government Grants Included in Current Profit/Loss | 3,797,159.69 | | Fair Value Change Gains/Losses and Investment Income from Financial Assets/Liabilities | 11,319,312.91 | | Other Non-Operating Income and Expenses Excluding the Above | -1,196.58 | | Total | 15,115,276.02 | 3. Changes and Reasons for Key Accounting Data and Financial Indicators Key financial indicators improved due to significant Furmonertinib sales growth, driven by its first-line treatment indication inclusion in medical insurance, achieving overall profitability - Net profit attributable to shareholders, net profit attributable to shareholders excluding non-recurring gains and losses, basic earnings per share, and diluted earnings per share all turned losses into profits, primarily due to increased sales revenue of Furmonertinib[7] - Operating revenue increased by 148.75% year-on-year, mainly due to increased sales volume of Furmonertinib after its first-line treatment indication was included in the national medical insurance catalog[8] - The proportion of R&D investment to operating revenue decreased by 21.64 percentage points due to significant growth in operating revenue; sales expenses increased by 113.09% year-on-year, primarily due to increased expenses related to marketing activities, medical promotion, and employee compensation[7][8] - Accounts receivable increased by 33.52% related to increased sales revenue of Furmonertinib; construction in progress decreased by 53.72% as some projects were completed and transferred to fixed assets[7] II. Shareholder Information 1. Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings The company had 11,793 common shareholders; this section details top ten holdings, restricted shares, related party relationships, and concerted action agreements - As of the end of the reporting period, the company had a total of 11,793 common shareholders[9] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Proportion (%) | Number of Restricted Shares Held | Share Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Qiaoke Enterprise Development Co., Ltd. | Domestic Non-State-Owned Legal Person | 144,776,786 | 32.17 | 144,776,786 | None | | Shanghai Aixiang Enterprise Development Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 36,401,021 | 8.09 | 36,401,021 | None | | Hainan Shiyu Private Equity Fund Management Co., Ltd. - Jiaxing Tangyu Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 32,014,653 | 7.11 | 0 | None | | JEFFREY YANG GUO | Overseas Natural Person | 25,623,597 | 5.69 | 25,623,597 | None | | JENNIFER GUO | Overseas Natural Person | 14,823,596 | 3.29 | 14,823,596 | None | | Mr. Du Jinhao | Domestic Natural Person | 10,800,001 | 2.40 | 10,800,001 | None | | Shanghai Aiyun Enterprise Development Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 10,800,001 | 2.40 | 10,800,001 | None | | LAV Allist Limited | Overseas Legal Person | 7,500,000 | 1.67 | 0 | None | | Chen Xiaofa | Domestic Natural Person | 6,163,836 | 1.37 | 0 | None | | Shanghai Liyi Investment Management Partnership (Limited Partnership) - Suzhou Likang Equity Investment Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 4,687,500 | 1.04 | 0 | None | - The company's actual controller, Mr. Du Jinhao, and his wife, Ms. Qi Ju, jointly hold 100% of Shanghai Qiaoke Enterprise Development Co., Ltd. Mr. Du Jinhao also serves as the executive partner of Shanghai Aixiang and Shanghai Aiyun. JEFFREY YANG GUO and JENNIFER GUO have signed a concerted action agreement with Mr. Du Jinhao. Some shareholders are associated with members of the Lilly Asia Ventures management team[11] III. Other Reminders 1. Overall Operating Performance The company achieved 148.75% YoY operating revenue growth, successfully turning net profit attributable to owners and non-recurring net profit from losses to gains Overview of Q1 2023 Operating Performance | Indicator | Amount (RMB) | YoY Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 277.00 million | 148.75 | | Net Profit Attributable to Owners of Parent Company | 34.88 million | Turned Loss into Profit | | Net Profit Attributable to Owners of Parent Company Excluding Non-Recurring Gains and Losses | 19.76 million | Turned Loss into Profit | 2. Commercialization Progress of Core Products Furmonertinib Mesylate Tablets (Aifusha®) first-line treatment was included in the National Medical Insurance Catalog from March 1, 2023, boosting accessibility and future sales - The core product Furmonertinib is characterized by strong efficacy against brain metastases, excellent therapeutic effects, good safety, and a wide therapeutic window, with clinical study results published in multiple high-impact international academic journals and conferences[13] - In early 2023, the first-line treatment indication for Furmonertinib successfully entered the National Medical Insurance Catalog through negotiation, officially taking effect on March 1, 2023[13] - Both the second-line and first-line treatment indications for Furmonertinib have been included in the medical insurance reimbursement scope, which helps improve product accessibility, reduce patient medication burden, and expand the beneficiary population[13] 3. Company Product Pipeline Development Progress The company focuses on unmet clinical needs and differentiated R&D, with Furmonertinib new indications approved and collaborations for combination therapy and next-gen EGFR inhibitors - The company focuses on unmet clinical needs in new drug R&D, addressing limitations of existing therapies, and adopting differentiated R&D strategies[14] - Phase III clinical trials for Furmonertinib targeting first-line treatment of NSCLC with exon 20 insertion mutations and Phase Ib clinical trials for adult NSCLC patients with EGFR or HER2 kinase domain activating mutations both received IND approval in April 2023[14] - The company reached a clinical development collaboration with Remegen Co., Ltd. for Furmonertinib in combination with RC108, and signed a licensing agreement with Abbisko Therapeutics Co., Ltd. for the next-generation EGFR inhibitor ABK3376[14] IV. Quarterly Financial Statements 1. Type of Audit Opinion The quarterly financial statements for the current reporting period are unaudited - The Q1 2023 financial statements are unaudited[3][15] 2. Financial Statements This section presents the company's Q1 2023 consolidated balance sheet, income statement, and cash flow statement, detailing financial position and operating results Consolidated Balance Sheet As of March 31, 2023, total assets slightly increased, with current asset adjustments, decreased total liabilities, and steadily increased owners' equity Key Items of Consolidated Balance Sheet (March 31, 2023 vs December 31, 2022) | Item | March 31, 2023 (RMB) | December 31, 2022 (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 536,122,901.66 | 470,490,791.94 | 13.95 | | Financial Assets Held for Trading | 1,450,876,351.10 | 1,566,787,461.45 | -7.40 | | Accounts Receivable | 201,421,948.18 | 150,853,410.43 | 33.52 | | Prepayments | 32,816,699.59 | 46,915,492.17 | -30.05 | | Inventories | 40,845,899.60 | 32,072,671.46 | 27.35 | | Total Current Assets | 2,280,792,605.65 | 2,286,223,382.56 | -0.24 | | Fixed Assets | 532,051,079.29 | 523,905,661.97 | 1.55 | | Construction in Progress | 6,386,672.95 | 13,799,706.09 | -53.72 | | Development Expenditures | 19,059,566.04 | 0 | New | | Total Assets | 3,457,407,140.04 | 3,442,172,227.84 | 0.44 | | Total Current Liabilities | 218,132,503.47 | 254,618,562.47 | -14.33 | | Lease Liabilities | 2,483,369.25 | 300,597.56 | 726.14 | | Total Liabilities | 220,813,282.72 | 255,116,570.03 | -13.30 | | Total Equity Attributable to Owners of Parent Company | 3,236,593,857.32 | 3,187,055,657.81 | 1.55 | Consolidated Income Statement In Q1 2023, total operating revenue grew by 148.75%, turning operating profit and net profit from losses to gains, reflecting increased sales and R&D investments Key Items of Consolidated Income Statement (Q1 2023 vs Q1 2022) | Item | Q1 2023 (RMB) | Q1 2022 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 276,505,592.07 | 111,157,103.86 | 148.75 | | Operating Costs | 8,365,090.23 | 5,122,448.86 | 63.30 | | Taxes and Surcharges | 3,327,227.63 | 572,308.41 | 481.37 | | Selling Expenses | 161,097,000.64 | 75,600,531.93 | 113.09 | | Administrative Expenses | 22,979,100.16 | 20,179,798.01 | 13.87 | | R&D Expenses | 63,535,586.23 | 49,596,570.97 | 28.10 | | Financial Expenses | -4,632,475.76 | -2,826,757.89 | N/A (Increased Interest Income) | | Other Income | 3,797,159.69 | 1,233,524.25 | 207.83 | | Investment Income | 2,302,256.12 | 4,321,915.68 | -46.73 | | Operating Profit | 36,685,177.03 | -22,673,044.78 | Turned Loss into Profit | | Total Profit | 36,683,980.45 | -22,673,403.02 | Turned Loss into Profit | | Net Profit | 34,877,411.06 | -22,673,403.02 | Turned Loss into Profit | | Net Profit Attributable to Owners of Parent Company | 34,877,411.06 | -22,673,403.02 | Turned Loss into Profit | | Basic Earnings Per Share (RMB/share) | 0.08 | -0.05 | Turned Loss into Profit | Consolidated Cash Flow Statement In Q1 2023, net operating cash flow improved significantly, investing cash flow turned positive due to increased investment recovery, and period-end cash and cash equivalents substantially increased Key Items of Consolidated Cash Flow Statement (Q1 2023 vs Q1 2022) | Item | Q1 2023 (RMB) | Q1 2022 (RMB) | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 260,528,608.76 | 95,701,230.22 | | Subtotal of Cash Inflows from Operating Activities | 272,071,433.11 | 96,614,850.97 | | Subtotal of Cash Outflows from Operating Activities | 292,616,318.87 | 147,864,616.28 | | Net Cash Flow from Operating Activities | -20,544,885.76 | -51,249,765.31 | | Subtotal of Cash Inflows from Investing Activities | 1,574,247,803.62 | 1,716,522,164.15 | | Subtotal of Cash Outflows from Investing Activities | 1,490,760,672.25 | 1,822,345,961.71 | | Net Cash Flow from Investing Activities | 83,487,131.37 | -105,823,797.56 | | Net Cash Flow from Financing Activities | -1,007,266.95 | -3,163,058.31 | | Net Increase in Cash and Cash Equivalents | 59,935,586.40 | -160,127,295.46 | | Cash and Cash Equivalents at End of Period | 374,809,250.57 | 683,849,810.01 |