百奥赛图-B2023年度报告

百奧賽圖北京醫藥科技股份有限公司 Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (A joint stock company incorporated in the People’s Republic of China with limited liability)（於中華人民共和國註冊成立的股份有限公司） Stock code股份代號：2315 Annual Report年度報告2023 Contents 2Chairman’s Statement 52Directors, Supervisors and Senior Management 66Corporate Governance Report 93Directors’ Report 142Environmental, Social and Governance Report 180Appendix I: Environmental Key Performance IndicatorsSummary Table 182Appendix II: Index of HKEX’s Environmental, Social andGovernance Reporting Guide188Independent Auditor’s Report 195Consolidated Statements of Profit or Loss andOther Comprehensive Income Chairman’s Statement Dear distinguished shareholders, 20232023 Theyear 2023 was indeed challenging.Amidst a complex andevolvingmacroeconomic environment and challenges arising fromnumerouspolicy shifts,the biopharmaceutical industry acceleratedinto an adjustment phase, displaying an overall trend of volatility anddecline. Despite these turbulent internal and external conditions, ourstrategic investments in antibody development and overseas marketexpansion in recent years began to bear fruit. This drove continuedrapidgrowth for the Company in 2023 and equipped us with theresourcesand capabilities to adapt swiftly to various internal andexternal challenges. 7 1 72 0 2 234%408202266%474202232%383202236% Thanksto the concerted efforts of our entire team,we achievedsubstantialgrowth in the past year.Our total revenue amountedtoRMB717 million,representing a approximately 34%increase ascompared to 2022, including revenue of RMB408 million from overseasbusiness, an approximately 66% growth as compared to 2022. OurR&Dexpenditure decreased to RMB474 million,representing aapproximately 32% reduction as compared to 2022, and losses alsodecreasedto RMB383 million,representing an approximately 36%reduction as compared to 2022. 20239004 05 020231231103MerckHealthcare KgaAN e u r o c r i n eBiosciences, Inc.NeurocrineADCTherapeutics202360302023176202239% In the third quarter of 2023, our Project Integrum, after three yearsofdedicated effort,reached a significant milestone.The periodoflarge-scale investment ended,and the antibody developmentbusinessis now entering a harvest phase.We have successfullycompleted fully human antibody development projects covering morethan900 targets,and established a shelf-ready library containing400,000to 500,000 fully human antibody sequences in order toprovideglobal biopharmaceutical companies with opportunities forco-development,out-licensing,and transfer development of thesefully human antibodies. As at December 31, 2023, we have reached103co-development/out-licensing/transfer development deals withpartners including, but not limited to, Merck Healthcare KGaA, GileadSciences(“Gilead”),Neurocrine Biosciences,Inc.(“Neurocrine”),ADCTherapeutics,Hansoh Pharma and Nanjing Chia-Tai TianqingPharmaceutical Company. More than 60 new deals were signed in2023, nearly 30 of them have reached authorization, achieving morerapidgrowth over last year.Our antibody development businessgenerated a revenue of RMB176 million in 2023, representing a 39%increasefrom 2022.As our clients advance their early-stage R&Dprojects, milestone payment revenue will gradually materialize in thecoming years. We anticipate that our antibody development businesswillcontinue to maintain a strong growth trajectory.Our antibodydevelopment business has become a core driver for the Company’srapid growth after nearly four years of hard work. 2 0 1 820182022202352023820235 7 %2 0 2 3408202266% Our strategic focus on overseas markets since day one, coupled withtheongoing enhancement of our sales networks in North America,Europe,and Asia-Pacific since 2018,has enabled us to build arobust and comprehensive global sales network. We expanded oursales team and R&D service facilities in the United States in 2018,establisheda German subsidiary and a sales team in Europe in2022, opened an office in San Francisco in May 2023 with immediatecommencement of operations, and launched a new facility in Bostonin August 2023. This new facility, three times larger than the previousone, is equipped with advanced laboratories and high-standard animalhousing.Our comprehensive global system enables us to providetimely responses and services to overseas clients, and earn their trustand confidence. In 2023, our overseas business revenue exceeded50% of the total revenue for the first time, reaching 57%. We achievedan overseas revenue of RMB408 million in 2023, a 66% increase ascomparedto 2022.We will further expand overseas markets andincrease both the amount and proportion of overseas revenue. CRO2023273202262% Based on our robust gene-editing technology platform, we consistentlyworkon research and development of innovative products andservices,introduce highly competitive new gene-edited animalandcell models,and rely them on to provide preclinical CROservicesfor pharmaceutical companies.We