开拓药业-B2023年中期报告

Stock Code股份代號: 9939（於開曼群島註冊成立的有限責任公司）(Incorporated in the Cayman Islands with limited liability) 2023中期報告Interim Report * For identification purpose only 僅供識別https://www.kintor.com.cn Corporate Information2 Financial and Business Highlights5Management Discussion and Analysis9Interim Condensed Consolidated Statement ofComprehensive Income37Interim Condensed Consolidated Statement ofFinancial Position38Interim Condensed Consolidated Statement ofChanges in Equity40Interim Condensed Consolidated Statement ofCash Flows41Notes to the Condensed Consolidated InterimFinancial Information43Other Information75Definitions93 CORPORATE INFORMATION Board of Directors Executive Directors 20234 1420234 1420234 13 Dr. Youzhi TONG(Chairman of the Board and Chief Executive Officer)Dr. Qun LU(appointed on 14 April 2023)Dr. Xiang NI(appointed on 14 April 2023)Ms. Yan LU(resigned on 13 April 2023 Non-executive Directors Mr. Weipeng GAOMs. Geqi WEIMr. Chengwei LIU Independent Non-executive Directors Dr. Michael Min XUMr. Wallace Wai Yim YEUNGProf. Liang TONG Audit Committee Mr. Wallace Wai Yim YEUNG(Chairman)Dr. Michael Min XUMr. Chengwei LIU Nomination Committee Dr. Youzhi TONG(Chairman)Mr. Wallace Wai Yim YEUNGDr. Michael Min XU Remuneration Committee Dr. Michael Min XU(Chairman)Dr. Youzhi TONGProf. Liang TONG Joint Company Secretaries 20235 1220234 13 Mr. Ming Ming CHEUNG(appointed on 12 May 2023)Mr. Wai Chiu WONGMs. Yan LU(resigned on 13 April 2023 Authorised Representatives Dr. Youzhi TONGMr. Wai Chiu WONG Registered Office Cricket SquareHutchins Drive, PO Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket SquareHutchins Drive, PO Box 2681Grand Cayman, KY1-1111Cayman Islands Head Office and Principal Place ofBusiness in China 20 No. 20 Songbei RoadSuzhou Industrial ParkSuzhouJiangsuPRC Principal Place of Business in Hong Kong 202007 Suite 2007, 20th FloorTower 2, The GatewayHarbour CityKowloonHong Kong Legal Adviser 111 Ashurst Hong Kong11/F Jardine House1 Connaught PlaceCentralHong Kong Auditor 22 PricewaterhouseCoopersCertified Public Accountants and Registered Public Interest Entity Auditor22/F Prince’s BuildingCentralHong Kong CORPORATE INFORMATION Principal Share Registrar and Transfer Office Conyers Trust Company (Cayman) LimitedCricket SquareHutchins Drive, PO Box 2681Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins Drive, PO Box 2681Grand Cayman, KY1-1111Cayman Islands Hong Kong Share Registrar 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Center183 Queen’s Road EastWanchaiHong Kong Principal Banks Shanghai Pudong Development BankSuzhou Branch Wuzhong Sub-branchChina Construction BankSuzhou Industrial Park Sub-branch www.kintor.com.cn Company’s Website www.kintor.com.cn 500 Board Lot Size 500 shares 9939 Stock Code 9939 FINANCIAL AND BUSINESS HIGHLIGHTS FINANCIAL HIGHLIGHTS •20226 30518.4306.359.1%20236 30212.1 •Our net loss decreased by RMB306.3 million or 59.1% fromRMB518.4 million for the six months ended 30 June 2022 toRMB212.1 million for the six months ended 30 June 2023, whichwas mainly attributable to the decrease of our Group’s researchand development costs and administrative expenses. •20226 30461.1296.564.3%20236 30164.6KX-826AR-PROTAC (GT20029) •Our R&D costs decreased by RMB296.5 million or 64.3% fromRMB461.1 million for the six months ended 30 June 2022 toRMB164.6 million for the six months ended 30 June 2023. Suchdecreased costs were mainly attributable to Group’s adjustmentof core business according to the market environment andfinancials to continuously advance the clinical trials of coreproducts, such as KX-826 and AR-PROTAC (GT20029) for thetreatment of AGA and acne. •20236 30701.920236 3090.0 •The Group had cash and cash equivalents and time depositsof RMB701.9 million as at 30 June 2023. In addition, the Grouphad unutilised bank facilities of RMB90.0 million as at 30 June2023. The Group has sufficient cash on hand to support theadvancement of the Group’s clinical trials and research anddevelopment. •20236 3020226 30 •The Board resolved not to pay any interim dividend for the sixmonths ended 30 June 2023 (for the six months ended 30 June2022: Nil). BUSINESS HIGHLIGHTS 7I-III2023 As at the date of this report, we have seven innovative potential first-in-class/best-in-class drug candidates at phase I-III clinical stage. Basedon the Company’s clear strategic layout in the field of dermatologyandrelying on its strong execution,the Company has rapidlyadvanced various clinical trials around the world, among which thefollowing milestones and achievements have been reached since 2023: KX-826 KX-826 AGA Indication •20233 28KX-826III7402023 •On 28 March 2023, the Company announced the completion ofenrollment of all 740 subjects for the phase III clinical trial of KX-826 for treatment of male AGA in China. The Company expectsto rel