开拓药业-B年报 2024

Stock Code: 9939(Incorporated in the Cayman Islands with limited liability) 2024Annual Report CONTENTS Directors’ Report87Independent Auditor’s Report115Consolidated Statement of Comprehensive Income123Consolidated Statement of Financial Position124Consolidated Statement of Changes in Equity126Consolidated Statement of Cash Flows127Notes to the Consolidated Financial Statements129Financial Summary249Definitions and Glossary of Technical Terms250 Company Profile2Corporate Information3Chairman’s Statement6Financial Highlights8Business Highlights11Management Discussion and Analysis14Profiles of Directors and Senior Management55Corporate Governance Report62 COMPANY PROFILE OVERVIEW 5I-III We are a clinical-stage novel drug developer in China focusing ondeveloping potential first-in-class/best-in-class drugs for unmet clinicalneeds and extending to functional cosmetics area. The developmentof cosmetics business play a crucial complementary role by not onlyproviding the necessary funding for drugs R&D initiatives but alsooffering valuable market data that informs and shapes the future salesstrategies for the Company’s pharmaceutical products. We havefive innovative potential first-in-class/best-in-class drug candidates atphase I-III clinical stage, and we are committed to becoming a leaderin the research, development and commercialisation of innovativetherapies. Our products aim at tackling the unmet clinical needs andour pipelines cover indications of dermatology such as AGA and acnevulgaris, and indications of tumors. •KX-826 KX-826 KX-826ARKX-826(AGA) KX-826 is an AR antagonist. We are currently developing KX-826 as a potential first-in-class topical drug for the treatment ofandrogenic alopecia (AGA) and acne vulgaris. AR-PROTAC(GT20029) •AR-PROTAC Compound (GT20029) GT20029PROTACAR-PROTACGT20029 GT20029 is a topical AR-PROTAC compound developed bythe Group’s in-house PROTAC platform. We are currentlydeveloping GT20029 for the treatment of AGA and acnevulgaris. GT1708FHedgehog/SMO •GT1708F (Hedgehog/SMO Inhibitor) GT1708FHedgehog/SMOhedgehogGT1708F(IPF) GT1708F(Hedgehog/SMO Inhibitor)is an inhibitor of thehedgehogsignal transduction pathway.We are currentlydeveloping GT1708F primarily for the treatment of idiopathicpulmonary fibrosis (IPF) and blood cancer. GT0486 •GT0486 GT0486PI3K/mTORmTORGT0486(HCC) GT0486 is an inhibitor of the PI3K/mTOR signalling pathwayand a second generation mTOR inhibitor. We are currentlydeveloping GT0486 primarily for the treatment of metastaticsolidtumours such as breast cancer,prostate cancer andhepatocellular carcinoma (HCC). •ALK-1 Antibody (GT90001) ALK-1(GT90001) ALK-12018ALK-1ALK-1HCC ALK-1 antibody is a new anti-angiogenesis inhibitor and targetsa new biological target ALK-1 globally, which we obtained anexclusive global licence from Pfizer in 2018. We are currentlydeveloping ALK-1 antibody for the treatment of metastatic HCCand a variety of solid tumours. CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors 20246 20 Dr. Youzhi Tong(Chairman of the Board and Chief Executive Officer)Dr. Xiang NiDr. Qun Lu (retired on 20 June 2024) Non-executive Directors 20246 20 Mr. Weipeng GaoMs. Geqi WeiMr. Chengwei Liu (retired on 20 June 2024) Independent Non-executive Directors Dr. Michael Min XuMr. Wallace Wai Yim YeungProf. Liang Tong AUDIT COMMITTEE 20246 2020246 20 Mr. Wallace Wai Yim Yeung(Chairman)Dr. Michael Min XuProf. Liang Tong (appointed on 20 June 2024)Mr. Chengwei Liu (retired on 20 June 2024) REMUNERATION COMMITTEE Dr. Michael Min Xu(Chairman)Dr. Youzhi TongProf. Liang Tong NOMINATION COMMITTEE Dr. Youzhi Tong(Chairman)Dr. Michael Min XuMr. Wallace Wai Yim Yeung JOINT COMPANY SECRETARY Mr. Ming Ming CheungMr. Wai Chiu Wong AUTHORISED REPRESENTATIVES Dr. Youzhi TongMr. Wai Chiu Wong CORPORATE INFORMATION REGISTERED OFFICE 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 HONGKONG 24840 40th FloorDah Sing Financial CentreNo. 248 Queen’s Road EastWanchaiHong Kong LEGAL ADVISER 143 Ashurst Hong Kong43/F Jardine House1 Connaught PlaceCentralHong Kong AUDITOR 22 PricewaterhouseCoopersCertified Public Accountants and Registered Public Interest Entity Auditor22/F Prince’s BuildingCentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER 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 Centre183 Queen’s Road EastWanchaiHong Kong PRINCIPAL BANKS Shanghai Pudong Development BankSuzhou Branch Wuzhong Sub-branchChina Construction B