思路迪医药股份二零二四年中期报告

2024INTERIM REPORT中 期 報 告 Contents 2Definitions7Corporate Information10Financial Summary14Business Highlights17Management Discussion and Analysis44Other Information63Independent Review Report65Interim Condensed Consolidated Statement of ComprehensiveIncome66Interim Condensed Consolidated Statement of Financial Position68Interim Condensed Consolidated Statement of Changes in Equity69Interim Condensed Consolidated Statement of Cash Flows72Notes to Interim Condensed Consolidated Financial Information programmedcell death protein 1,an immune checkpoint receptor expressed on Tcells, B cells and macrophages. The normal function of PD-1 is to turn off the T cellmediated immune response as part of the process that stops a healthy immune systemfrom attacking other pathogenic cells in the body. When PD-1 on the surface of a T cellattaches to certain proteins on the surface of a normal cell or a cancer cell, the T cellturns off its ability to kill the cell BOARD OF DIRECTORS Executive Director Dr. Gong Zhaolong(Chairman of the Board) Non-executive Directors Mr. Zhu PaiMr. Zhou FengMs. Chen Yawen Independent Non-executive Directors Dr. Li JinDr. Lin Tat PangMr. Liu Xinguang REMUNERATION COMMITTEE Mr. Liu Xinguang(Chairman)Dr. Gong ZhaolongDr. Li Jin NOMINATION COMMITTEE Dr. Gong Zhaolong(Chairman)Dr. Li JinMr. Liu Xinguang AUDIT COMMITTEE Dr. Lin Tat Pang(Chairman)Mr. Zhu PaiDr. Li Jin JOINT COMPANY SECRETARIES Ms. Xia FangMs. Li Ching Yi AUTHORISED REPRESENTATIVES Dr. Gong ZhaolongMs. Li Ching Yi Corporate Information公司資料 PRINCIPAL BANK China CITIC BankShanghai Lingang Special Area Sub-branchCITIC Bank Building138 Expo Han RoadPudong New Area, ShanghaiPRC 138 www.3d-medicines.com COMPANY WEBSITE www.3d-medicines.com REGISTERED OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands CORPORATE HEADQUARTERS 35 No. 3 and No. 5, Laiyang RoadQingdao, Shandong, PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 19th Floor, Golden Centre188 Des Voeux Road CentralHong Kong 18819 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Corporate Information公司資料 LEGAL ADVISERS As to Hong Kong and U.S. laws 131 O’Melveny & Myers31/F, AIA Central1 Connaught Road CentralHong Kong As to PRC law Zhong Lun Law Firm6/10/11/16/17F, Two IFC8 Century AvenuePudong New AreaShanghaiPRC 86/10/11/16/17 As to Cayman Islands law 829 Conyers Dill & Pearman29th Floor One Exchange Square8 Connaught PlaceCentralHong Kong AUDITOR AND REPORTING ACCOUNTANT 28814B Modern Assure CPA LimitedCertified Public AccountantsRegistered Public Interest Entity AuditorsUnit B, 14/F, Eton Building288 Des Voeux Road CentralSheung WanHong Kong STOCK CODE 12441244 IFRS MEASURES: 1. 1.Revenue During the Reporting Period, all of our revenue was generatedfromthe sales of commercialized®(Envafolimab,Subcutaneously-InjectablePD-L1 inhibitor)to distributorscooperating with us directly. For the six months ended June 30,2024, our revenue decreased by 41.4% to RMB206.4 million fromRMB352.6million for the same period in 2023.The decreasewas primarily attributable to the product sales of®whichwas approved and commercialized in late November 2021. Therevenue decrease is a result of the highly competitive market ofPD-1/L1 in 2024. ®PD-L120246302023352.641.4%206.4®2021112024PD-1/L1 2.Cost of Sales 2. ®20246302 0 2 327.336.0%17.5®PD-L1 During the Reporting Period, the cost of sales represented ourpurchasesfrom our contract manufacturer for production of®.For the six months ended June 30,2024,our costdecreased by 36.0% to RMB17.5 million from RMB27.3 millionfor the same period in 2023. The decrease in cost of sales wasmainly attributable to the decrease in the number of units soldfor®(Envafolimab,Subcutaneously-Injectable PD-L1inhibitor). 3.Gross Profit and Gross Profit Margin 3. Forthe six months ended June 30,2024,our gross profitdecreased by 41.9% to RMB188.9 million from RMB325.3 millionfor the same period in 2023. It was mainly attributable to thedecreasein product sales.Our gross profit margin reached91.5% and 92.3% in the six months ended June 30, 2024 and2023, respectively. The slight decrease in gross profit margin ismainly due to the increase in sales related surcharged taxes andthe cost of relevant employees, reflecting the gradually maturingbusiness model. 20246302023325.341.9%188.92024202363091.5%92.3% Financial Summary財務概要 4. 4.Research and Development Expenses (i)( i i ) Duringth