Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 10,547,000, an increase of 16.1% compared to RMB 9,087,000 for the year ended December 31, 2022[28]. - Revenue from technical services increased significantly to RMB 590,000 from RMB 75,000, representing a growth of 685.3% year-over-year[28]. - Government subsidies received amounted to RMB 6,216,000, up from RMB 5,101,000, reflecting a growth of 21.8%[28]. - The company reported a basic and diluted loss per share based on the financial data provided[36]. - The net loss for the year ending December 31, 2023, increased by approximately RMB 70.2 million or 193.4% to a total loss of approximately RMB 106.5 million compared to a loss of approximately RMB 36.3 million for the year ending December 31, 2022[126]. - Total loss and comprehensive expenses for the year increased by approximately RMB 14.4 million or 4.5% to approximately RMB 335.5 million for the year ending December 31, 2023, compared to approximately RMB 321.1 million for the year ending December 31, 2022[128]. Employee Compensation and Structure - The total employee compensation for the year was approximately RMB 77.0 million, a decrease of 32.6% from RMB 114.2 million in 2022[5]. - The company had a total of 210 employees in China and 1 employee in South Korea as of December 31, 2023[5]. - Employee costs totaled RMB 77,034,000, down 32.5% from RMB 114,162,000 in the previous year[35]. - The company is focused on providing training to employees to enhance technical and product knowledge[6]. - The company’s accrued salaries and other benefits decreased from RMB 16,287,000 in 2022 to RMB 10,372,000 in 2023, a reduction of approximately 36.2%[68]. Assets and Liabilities - Non-current assets, including property, plant, and equipment, amounted to RMB 527.3 million, showing an increase from RMB 500.8 million[18]. - Current assets totaled RMB 761.3 million, compared to RMB 632.4 million in the previous year, indicating a growth of 20.3%[18]. - The company's total liabilities were RMB 208.5 million, slightly decreasing from RMB 203.4 million[18]. - The total liabilities increased from RMB 167,989,000 in 2022 to RMB 176,911,000 in 2023, indicating a growth of approximately 5.5%[68]. - The net value of current assets (liabilities) was RMB (90.4) million, a significant decline from RMB 10.5 million[18]. Investments - Investments in Tasly Fund decreased to RMB 2,393,000 from RMB 88,913,000, indicating a significant decline[37]. - Total investments as of December 31, 2023, were RMB 171,174,000, an increase of 6.2% from RMB 161,185,000 in 2022[37]. - The company’s investment in Tasly Fund and Shaoxing Fund amounted to RMB 46,609,000 as of December 31, 2023, which was not present in 2022[84]. - The fair value of investments in Shaoxing Fund decreased from RMB 51,524,000 on January 1, 2022, to RMB 43,969,000 on December 31, 2023, reflecting a decline of approximately 14.6%[63]. Corporate Governance - The company has established a review committee to ensure compliance with corporate governance standards[13]. - The company is committed to adhering to corporate governance standards as outlined in the listing rules[112]. - The group has been recognized as a "High-tech Enterprise" by the Beijing Science and Technology Bureau, allowing it to enjoy a reduced corporate income tax rate of 15%[53]. Research and Development - The company is developing a monoclonal antibody product targeting ovarian cancer, which is part of its pipeline for biological drugs[96]. - The company is also advancing its CAR-T cell therapy products, specifically CAR-T-19, aimed at treating B-cell malignancies[112]. - The company has a research facility located in Beijing, which supports its R&D efforts[100]. - The EAL® product is undergoing a Phase II clinical trial for the indication of preventing postoperative recurrence of liver cancer, with the company expecting to submit the NDA to the National Medical Products Administration in the second half of 2024 and anticipating product launch in 2025[129]. - The company has completed the enrollment of six target subjects for the Phase I clinical trial of 6B11-OCIK injection and is conducting preliminary analysis and interim results of the ongoing clinical trial[130]. - Multiple TCR-T cell products are currently in preclinical research targeting antigens from renal clear cell carcinoma and various virus-derived antigens such as CMV, EBV, HBV, and HPV[135]. Financial Reporting and Taxation - The company has implemented new international financial reporting standards effective January 1, 2023, impacting the presentation of financial statements[41]. - The company has not made any provisions for corporate income tax due to tax losses incurred in the past two years[31]. - Deferred tax liabilities as of December 31, 2023, were RMB 17,695,000, down from RMB 21,684,000 in 2022[55]. Clinical Trials and Product Pipeline - The company has initiated Phase II clinical trials for CAR-T-19 injection, with five target subjects enrolled as of October 2023, and expects to complete enrollment and release preliminary analysis by the first half of 2026[144]. - The company has completed enrollment of two target subjects for the Phase I clinical trial of Dinutuximab injection, with expected completion of target enrollment by the end of 2024 and preliminary results to be announced in the first half of 2025[145]. - The company plans to start the Phase I clinical trial of aT19 injection in February 2024, following IND approval from the drug evaluation center[189]. - The company aims to address the challenges of CAR-T cell therapy's durability and effectiveness in treating solid tumors through the development of dinutuximab and aT19 injections[161]. - The company plans to expand the clinical applications of EAL® to include lung cancer, gastric cancer, glioblastoma, and colorectal cancer after receiving approval for liver cancer[200].
永泰生物-B(06978) - 2023 - 年度业绩