Shang Hai Zheng Quan Bao·2025-08-26 21:15Core Viewpoint - The company, Junshi Biosciences, is actively expanding its product pipeline and advancing clinical projects, despite not achieving profitability during the reporting period. The focus remains on innovative drug discovery and commercialization, with a commitment to maintaining substantial R&D investments [2][3]. Company Overview - Junshi Biosciences is engaged in the biopharmaceutical industry, characterized by long R&D cycles, high investment, and significant risks. The company has made breakthroughs in drug discovery, development, production, and commercialization [2][3]. - The company has a stable core management and R&D team, which is crucial for its ongoing operations and future growth [2]. Financial Data - The company reported that its operating income does not yet cover R&D expenses and other costs, leading to continued losses during the reporting period [2]. - As of June 30, 2025, the company had raised a total of approximately RMB 4.84 billion from its initial public offering, with a net amount of RMB 4.50 billion after deducting issuance costs [20]. Shareholder Information - As of the reporting period, the total number of ordinary shareholders was 31,160, with 31,151 being A-share holders and 9 being H-share holders [8]. Risk Factors - The company faces various risks inherent in the biopharmaceutical industry, including the potential for increased losses due to ongoing R&D expenditures and the commercialization of new products [2][3]. Corporate Governance Changes - The company has proposed to cancel its supervisory board and transfer its responsibilities to the audit committee of the board of directors, pending approval from the shareholders' meeting [42][44].