Financial Performance - The company's operating revenue for Q1 2024 was RMB 380,804,271.07, representing a 49.24% increase compared to the same period last year[5] - The net profit attributable to shareholders was a loss of RMB 283,029,082.76, with a net profit excluding non-recurring items of RMB -307,067,930.26[5] - The company reported a weighted average return on net assets of -4.04%, an increase of 1.88 percentage points[5] - Total revenue for Q1 2024 reached ¥380,804,271.07, a significant increase from ¥255,154,522.24 in Q1 2023, representing a growth of approximately 49.2%[18] - Operating profit for Q1 2024 was reported at -¥292,835,633.87, an improvement compared to -¥633,218,295.88 in Q1 2023, indicating a reduction in losses[18] - Net loss for Q1 2024 was -¥299,647,965.46, compared to -¥639,619,944.79 in the same period last year, reflecting a decrease in net losses by about 53%[18] Cash Flow - The net cash flow from operating activities was RMB -376,577,871.82, indicating a significant cash outflow[5] - Cash inflow from operating activities totaled ¥399,332,111.78 in Q1 2024, up from ¥302,002,091.08 in Q1 2023, marking an increase of approximately 32.3%[20] - The net cash flow from operating activities for Q1 2024 was -$376.58 million, an improvement from -$720.25 million in Q1 2023, indicating a 47.7% reduction in cash outflow[21] - The total cash outflow for purchasing goods and services was ¥433,711,376.04 in Q1 2024, down from ¥562,535,881.61 in Q1 2023, reflecting a decrease of approximately 22.9%[20] - The company reported a total cash outflow from operating activities of $775.91 million, down from $1.02 billion in the same quarter last year, reflecting a 24.0% decrease[21] Research and Development - Research and development expenses totaled RMB 276,292,124.92, a decrease of 47.64% year-on-year[5] - The ratio of R&D expenses to operating revenue was 72.55%, down 134.25 percentage points from the previous year[6] - Research and development expenses for Q1 2024 were ¥276,292,124.92, down from ¥527,659,904.54 in Q1 2023, showing a reduction of about 47.6%[18] - The company has reduced losses compared to the same period last year by optimizing resource allocation and focusing on promising R&D pipelines[13] Assets and Liabilities - Total assets increased to RMB 12,024,485,796.49, up 6.01% from the end of the previous year[6] - The total current assets increased to CNY 6.19 billion, compared to CNY 5.57 billion at the end of 2023, reflecting a growth of approximately 11.2%[15] - Total liabilities increased to ¥5,005,671,597.96 in Q1 2024 from ¥4,022,256,399.35 in Q1 2023, representing an increase of approximately 24.5%[16] - The total equity attributable to shareholders decreased to ¥6,866,046,795.72 in Q1 2024 from ¥7,151,224,186.47 in Q1 2023, a decline of about 4%[16] Market and Product Development - The company's revenue from the core product, Toripalimab injection (brand name: Tuoyi®/LOQTORZI™), reached approximately CNY 306.86 million, representing a year-on-year growth of about 56.82%[13] - The company is advancing multiple late-stage pipeline projects, including JS002 (anti-PCSK9 monoclonal antibody) and JS005 (anti-IL-17A monoclonal antibody), to drive future revenue growth[14] - The company has received priority review designation for the marketing application of Toripalimab in Singapore for specific cancer treatments[13] - The number of indications for Toripalimab included in the national medical insurance directory has increased to 6, enhancing its market accessibility[13] - The company has established commercial partnerships in over 50 countries for Toripalimab, indicating strong international market expansion efforts[13] Inventory and Cash Management - The total inventory as of March 31, 2024, was CNY 535.55 million, slightly down from CNY 538.05 million at the end of 2023[15] - The company reported cash and cash equivalents of CNY 4.56 billion, up from CNY 3.79 billion in the previous quarter[15] - The total cash and cash equivalents at the end of Q1 2024 amounted to $4.55 billion, a decrease from $4.98 billion at the end of Q1 2023[21] - Cash received from borrowings in Q1 2024 was $1.28 billion, a substantial increase from $91.30 million in Q1 2023[21]
君实生物(01877) - 2024 Q1 - 季度业绩