Financial Performance - The total loss for the year ended December 31, 2022, was approximately RMB 321.1 million, a decrease of RMB 33.5 million or about 9.4% from the previous year's loss of RMB 354.6 million[5]. - Total revenue decreased by approximately 48.9% from RMB 17.8 million in 2021 to RMB 9.1 million in 2022, primarily due to reduced interest income from bank deposits and government subsidies[125]. - Loss before tax decreased by approximately 9.4% from RMB 354.6 million in 2021 to RMB 321.1 million in 2022[138]. - The company incurred a net loss attributable to owners of the company of RMB 318.1 million for the year ended December 31, 2022, compared to a net loss of RMB 354.2 million for the year ended December 31, 2021, representing a decrease of approximately 10.2%[151]. - Basic and diluted loss per share improved from RMB 0.69 in 2021 to RMB 0.62 in 2022[1]. Expenses and Costs - Other income decreased by approximately RMB 8.7 million or about 48.9% to RMB 9.1 million for the year ended December 31, 2022, compared to RMB 17.8 million for the previous year[21]. - Research and development expenses decreased by approximately RMB 64.4 million or about 26.8% to RMB 176.2 million for the year ended December 31, 2022, from RMB 240.6 million in the previous year[22]. - Administrative expenses decreased by approximately RMB 6.6 million or about 6.3% to RMB 97.7 million for the year ended December 31, 2022, compared to RMB 104.3 million for the previous year[4]. - Financial costs increased by approximately 64.9% from RMB 3.7 million in 2021 to RMB 6.1 million in 2022, mainly due to increased interest expenses on lease liabilities[136]. - Other expenses surged by approximately 4,500.0% from RMB 0.3 million in 2021 to RMB 13.8 million in 2022, primarily due to increased issuance costs of convertible bonds[137]. Clinical Trials and Product Development - The company completed the enrollment of 430 target patients in the Phase II clinical trial for EAL® aimed at preventing postoperative recurrence of liver cancer, with plans to submit a new drug application in 2023 and anticipate product launch in 2024[6][17]. - The company has received clinical approval from NMPA for the injection of Dinolonesa, targeting TGF-β for the treatment of relapsed refractory diffuse large B-cell lymphoma, with clinical trials expected to commence in 2023[18]. - The CAR-T cell product pipeline focuses on CAR-T-19 series, with ongoing clinical research for B-cell acute lymphoblastic leukemia (B-ALL) and IND application processing since August 2019[7]. - The company has initiated Phase I clinical trials for CAR-T-19 injection, with enrollment of nine target patients completed as of the announcement date, and expects to finalize patient enrollment and release preliminary analysis results in 2023[25]. - The company is planning to set up R&D and production centers in densely populated areas to accelerate clinical trial progress and meet future commercialization needs[67]. Financial Position and Capital Structure - As of December 31, 2022, the company's total issued share capital amounted to $514,584,000, divided into 514,584,000 shares, with a capital structure of 42.4% liabilities and 57.6% equity[54]. - The liquidity ratios as of December 31, 2022, were 0.57 for the current ratio and 0.53 for the quick ratio, indicating a significant decrease from 2.29 and 2.23 in 2021, respectively[57]. - The company's cash and cash equivalents decreased from approximately RMB 353.3 million on December 31, 2021, to approximately RMB 58.4 million on December 31, 2022, primarily due to net losses from operations and construction[145]. - Total liabilities increased to RMB 208,474 thousand in 2022 from RMB 180,101 thousand in 2021, representing an increase of about 15.7%[187]. - The company has completed the issuance of convertible bonds and received proceeds of RMB 300 million on February 20, 2023[145]. Strategic Initiatives and Collaborations - The company established a joint venture with Beijing Yongtai and Shanghai Xinkaiyuan to enter the tumor treatment companion diagnosis market, aiming to provide related products and services[12]. - The company has formed a joint venture with Shanghai New Origin, which is a wholly-owned subsidiary of New Origin Medical, listed on the Shenzhen Stock Exchange[28]. - The company is expanding its strategic collaborations and exploring acquisition opportunities to enhance its product pipeline for solid tumors and non-solid tumors[112]. - The company has established a systematic technical platform for the development of cell immunotherapy products, enabling customized services based on client needs[111]. Employee and Governance - As of December 31, 2022, the total employee compensation (including director remuneration) amounted to approximately RMB 114.2 million, a decrease from RMB 183.1 million in 2021[162]. - The total number of employees as of December 31, 2022, was 246, with 32 in management, 31 in R&D, and 65 in quality control[164]. - The company has implemented a performance evaluation system to determine salary increases, bonuses, and promotions for employees[163]. - The company provides social insurance and housing provident fund for all employees in China[166]. - The company has adopted the corporate governance principles and code as per the listing rules during the reporting period[64].
永泰生物(06978) - 2022 - 年度业绩