Mabwell(SH:688062)2024-04-29 10:21Financial Performance - The company reported a total revenue of 12,198,186.66 RMB for the quarter, with a non-operating loss of 6.98 RMB[4]. - Total operating revenue for Q1 2024 was ¥67,555,138.51, a significant increase of 1,572.42% compared to ¥4,039,353.81 in Q1 2023[36]. - The net loss attributable to the parent company for the first quarter was ¥-205,535,439.79, compared to a loss of ¥-241,682,020.95 in the same period last year, showing an improvement of approximately 14.9%[30]. - Basic and diluted earnings per share for the first quarter were both ¥-0.51, consistent with the previous year's loss of ¥-0.60[30]. - The company reported a net loss attributable to shareholders of ¥205,658,524.39 for Q1 2024[44]. - In Q1 2024, the company reported a net loss of approximately $206.21 million, compared to a net loss of $241.70 million in Q1 2023, representing an improvement of about 14.7%[60]. Assets and Liabilities - Total assets increased to ¥4,641,815,291.15 as of March 31, 2024, up from ¥4,455,048,440.71 at December 31, 2023, representing a growth of approximately 4.2%[23]. - Current liabilities rose to ¥1,051,476,382.89, compared to ¥816,386,767.78 at the end of 2023, indicating an increase of about 28.8%[25]. - Long-term borrowings increased significantly to ¥1,022,315,828.62 from ¥887,715,828.62, reflecting a rise of approximately 15.1%[25]. - The company's total liabilities reached ¥2,246,111,836.00, up from ¥1,881,800,377.46, marking an increase of around 19.4%[25]. - The total equity attributable to shareholders decreased to ¥2,406,709,424.56 from ¥2,583,701,890.99, a decline of about 6.9%[26]. - The company's equity attributable to shareholders decreased by 6.85% from approximately $2.58 billion at the end of 2023 to approximately $2.41 billion at the end of Q1 2024[66]. Cash Flow - Cash received from sales of goods and services was ¥67,054,698.79, slightly down from ¥69,851,466.03 in the first quarter of 2023, a decrease of about 4.0%[30]. - Net cash flow from operating activities for Q1 2024 was -¥330,596,938.03, worsening from -¥152,672,130.25 in Q1 2023[41]. - Cash inflow from investment activities in Q1 2024 was ¥107,716,644.21, compared to ¥60,303,273.40 in Q1 2023[41]. - Cash outflow from investment activities totaled ¥283,505,565.22 in Q1 2024, down from ¥315,063,627.10 in Q1 2023[41]. - Cash inflow from financing activities was ¥1,360,160,000.00 in Q1 2024, significantly higher than ¥237,826,431.33 in Q1 2023[41]. - Net cash flow from financing activities for Q1 2024 was ¥584,440,756.11, compared to ¥170,283,340.69 in Q1 2023[41]. - The ending balance of cash and cash equivalents as of Q1 2024 was ¥1,721,702,106.25, down from ¥2,251,409,951.93 in Q1 2023[41]. Product Development and Market Presence - As of the end of the reporting period, the company had 14 products in clinical or上市 stages, including 10 innovative drugs and 4 biosimilars[17]. - The company has launched three products: Junmaikang®, Mailishu®, and Maiweijian®[11]. - The objective response rate (ORR) for the 9MW2821 drug in the cervical cancer cohort was 40.54%, with a disease control rate (DCR) close to 90%[20]. - The company is focusing on oncology and age-related diseases, with ongoing clinical trials for various treatments[17]. - The company is in the process of expanding its market presence and product lines in the rheumatology and chronic disease sectors[11]. - The company has three products currently on the market, with one in the licensing review stage and three in critical III phase clinical trials[17]. - The company has received FDA approval for its new generation antibody-drug conjugate (ADC) 7MW3711 for clinical trials targeting advanced malignant solid tumors[60]. - A supply and commercialization agreement was established with an Indian pharmaceutical company for the product 9MW0813, granting exclusive rights for import, registration, and sales in India and ten other countries[60]. - The company submitted listing application documents for products 9MW0113 and 9MW0311 in Pakistan, and for 9MW0113 in Indonesia and Egypt, with additional applications in preparation for other countries[60]. - The company’s ADC technology platform IDDC™ was showcased at the World ADC London conference, highlighting multiple ADC products under development[60]. Shareholder Information - The company has a total of 14,938 common shareholders, with the largest shareholder holding 35.18% of the shares[8]. - The top ten shareholders include Haitong Innovation Securities Co., Ltd. with 4,387,633 shares, representing 1.10% of total shares[52]. - The actual controllers of the company are Mr. Tang Chunshan and Ms. Chen Shanna, with several shareholders being controlled by Mr. Tang[46]. - The company has not disclosed any related party relationships among other shareholders[46]. Research and Development - The company has developed new generation ADC drugs based on systematic core patented technologies, enhancing structural uniformity and stability[20]. - Research and development expenses for Q1 2024 were ¥182,152,879.71, slightly increasing from ¥176,998,516.51 in Q1 2023[36]. - R&D investment totaled approximately $182.15 million, accounting for 269.64% of operating revenue, a decrease of 4,112.21 basis points compared to the previous year[66]. Other Financial Information - Government subsidies recognized in the current period amounted to ¥11,319,889.02, primarily from government subsidy income[49]. - The fair value changes and gains from financial asset investments contributed ¥890,100.42 to the current period's profit[49]. - The company has not reported any non-recurring gains or losses from the disposal of non-current assets[49]. - There were no significant changes in the number of shares borrowed and not returned under the margin trading and securities lending program[52]. - The first quarter financial statements are not audited[53]. - The company has not recognized any impairment losses on receivables in the current period[49]. - There are no significant one-time expenses related to discontinued operations reported for the current period[49].