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励晶太平洋(00575) - 2024 - 中期业绩
00575REGENT PACIFIC(00575)2024-08-28 13:40

Financial Performance - The company reported a loss attributable to shareholders of approximately 2,620,000 for the six months ended June 30, 2024, primarily due to operational and R&D expenses of about 2,610,000[1]. - Capital loss recorded by the group was approximately 4,070,000,mainlydrivenbythelossattributabletoshareholders[1].−RevenueforthesixmonthsendedJune30,2024,was4,070,000, mainly driven by the loss attributable to shareholders[1]. - Revenue for the six months ended June 30, 2024, was 123,000, a decrease of 29% compared to 173,000inthesameperiodof2023[4].−Operatinglossfortheperiodwas173,000 in the same period of 2023[4]. - Operating loss for the period was 2,557,000, significantly improved from an operating loss of 15,063,000inthepreviousyear[4].−Thecompanyreportedatotalcomprehensivelossof15,063,000 in the previous year[4]. - The company reported a total comprehensive loss of 2,609,000 for the period, compared to 12,134,000inthesameperiodof2023[5].−Thecompanyreportedanetlossattributabletoshareholdersof12,134,000 in the same period of 2023[5]. - The company reported a net loss attributable to shareholders of (2,621,000) for the six months ended June 30, 2024, compared to (12,199,000)forthesameperiodin2023[26].−ThebasiclosspershareforthesixmonthsendedJune30,2024,was(12,199,000) for the same period in 2023[26]. - The basic loss per share for the six months ended June 30, 2024, was (1.148), compared to (5.501)forthesameperiodin2023[26].−ForthesixmonthsendedJune30,2024,thecompanyreportedasignificantreductioninlossattributabletoshareholderstoapproximately(5.501) for the same period in 2023[26]. - For the six months ended June 30, 2024, the company reported a significant reduction in loss attributable to shareholders to approximately 2.62 million, compared to 12.20millionforthesameperiodin2023,representingadecreaseof78.5212.20 million for the same period in 2023, representing a decrease of 78.52%[33]. - Total revenue for the six months ended June 30, 2024, was 0.12 million, a decrease of 29.41% from 0.17millioninthesameperiodof2023[33].−Thecompanyrecordedanoperatinglossofapproximately0.17 million in the same period of 2023[33]. - The company recorded an operating loss of approximately 2.56 million for the six months ended June 30, 2024, compared to an operating loss of 30.38millionforthesameperiodin2023[33].AssetsandLiabilities−Thenetcashandbankbalancesdecreasedto30.38 million for the same period in 2023[33]. Assets and Liabilities - The net cash and bank balances decreased to 280,000 from 2,097,000asofDecember31,2023[6].−AsofJune30,2024,thecompany′scurrentliabilitiesandtotalliabilitieswereapproximately2,097,000 as of December 31, 2023[6]. - As of June 30, 2024, the company's current liabilities and total liabilities were approximately 2,830,000 and 4,074,000,respectively[10].−Thecompany’snetassetvaluepersharewasreportedat−4,074,000, respectively[10]. - The company’s net asset value per share was reported at -1.78, compared to -0.68inthepreviousyear[8].−Thecompany’scapitaldeficitincreasedfromapproximately0.68 in the previous year[8]. - The company’s capital deficit increased from approximately 1.55 million as of December 31, 2023, to approximately 4.07millionasofJune30,2024,primarilyduetothelossattributabletoshareholders[35].−Thecompany’stotalliabilitiesincludeapproximately4.07 million as of June 30, 2024, primarily due to the loss attributable to shareholders[35]. - The company’s total liabilities include approximately 3.16 million in trade payables and other payables, and approximately 970,000inleaseliabilities[35].−Tradepayablesamountedto970,000 in lease liabilities[35]. - Trade payables amounted to 13,000 as of June 30, 2024, compared to 102,000asofDecember31,2023[28].−Thetotalliabilities,includingleaseliabilities,were102,000 as of December 31, 2023[28]. - The total liabilities, including lease liabilities, were 4,346,000 as of December 31, 2023[18]. - The total assets classified as held for sale amounted to 2,794,000asofDecember31,2023[18].RevenueGeneration−Revenuefrompatentlicensingwas2,794,000 as of December 31, 2023[18]. Revenue Generation - Revenue from patent licensing was 80,000, a slight decrease from 82,000inthepreviousyear[13].−Thecompanygenerated82,000 in the previous year[13]. - The company generated 123,000 in revenue from external customers in the biopharmaceutical segment for the six months ended June 30, 2024[15]. - Revenue from external customers in the biopharmaceutical segment was 173,000forthesixmonthsendedJune30,2023[17].ResearchandDevelopment−Fortacin™isundergoingevaluationforaPhaseIIIclinicalstudyintheU.S.withtworenownedclinicalresearchinstitutions[2].−ThecompanyhaslicensedFortacin™toKobayashiPharmaceuticalCo.,Ltd.inJapanandsignedamanufacturingandsupplyagreementwithGeneticS.p.A.forSenstend™inChina[2].−ResearchanddevelopmentexpensesrelatedtotheFortacin™approvalprocessintheU.S.amountedtoapproximately£144,000(orabout173,000 for the six months ended June 30, 2023[17]. Research and Development - Fortacin™ is undergoing evaluation for a Phase III clinical study in the U.S. with two renowned clinical research institutions[2]. - The company has licensed Fortacin™ to Kobayashi Pharmaceutical Co., Ltd. in Japan and signed a manufacturing and supply agreement with Genetic S.p.A. for Senstend™ in China[2]. - Research and development expenses related to the Fortacin™ approval process in the U.S. amounted to approximately £144,000 (or about 183,000) for the six months ended June 30, 2024[36]. - The company anticipates submitting a new drug application for Senstend™ to the National Medical Products Administration in China by the end of 2024, with a potential payment of 5,000,000 upon approval[1]. Future Plans and Outlook - The company plans to implement cost control measures and timely collection of receivables to improve cash flow[11]. - The company is considering fundraising arrangements to meet its funding needs[11]. - There is significant uncertainty regarding the company's ability to continue as a going concern, dependent on successful loan extraction and fundraising efforts[11]. - The company maintains an optimistic outlook for the second half of 2024, focusing on submitting a new drug application for Senstend™ in China and starting Phase III studies in the U.S.[49]. Corporate Governance and Management - The company has adhered to corporate governance codes and maintains high standards of corporate governance[60]. - The company has appointed a new auditor, Lo & Co., effective June 21, 2023, following the resignation of its previous auditor[63]. - The company appointed RSM Hong Kong as the new auditor effective from June 21, 2023, to fill the vacancy left by the resignation of Hong Kong Lee & Associates[64]. - The company has a total of 17 employees and 2 consultants as of June 30, 2024, down from 20 employees and 1 consultant six months prior[59]. Dividends and Securities - The company did not declare or pay any interim dividends for the six months ended June 30, 2024[24]. - The company has not repurchased, sold, or redeemed any of its listed securities during the six months ending June 30, 2024[65]. - The company has not declared an interim dividend for the six months ending June 30, 2024[48]. Strategic Partnerships and Agreements - The company has established a manufacturing and supply agreement with Jiangsu Wanbang Pharmaceutical for the production and supply of Senstend™ in China, with an initial term of five years[31]. - Jiangsu Wanbang Pharmaceutical will pay the company 5 million upon receiving import approval for Senstend™ and an additional 2millionafterthefirstcommercialsaleinChina[37].−Thecompanyanticipatesmilestonepaymentsofupto2 million after the first commercial sale in China[37]. - The company anticipates milestone payments of up to 25 million based on net sales achieved by Jiangsu Wanbang Pharmaceutical[38]. - The company has licensed Fortacin™ to Kobayashi Pharmaceutical Co., Ltd. in Japan, receiving a signing fee of $500,000[41]. Risk Management - The company emphasizes the importance of risk management related to its interests in Plethora and Deep Longevity[54]. - The capital debt ratio is considered meaningless due to capital losses as of June 30, 2024[53]. - There are no significant contingent liabilities as of June 30, 2024[55]. Other Information - The interim report for the six months ending June 30, 2024, will be available by the end of September 2024[67]. - The company did not make any significant acquisitions or disposals of subsidiaries in the six months ending June 30, 2024[57]. - Deep Longevity plans to launch the SenoClock® platform in China, India, and Australia in Q3 2024, aiming to increase revenue and visibility[42]. - The company is in discussions with major insurance companies and a Fortune 500 consumer health company for pilot studies, which could lead to significant revenue opportunities[43]. - The company is updating its blood age algorithm to meet stricter clinical guidelines, leveraging large language models for enhanced personalization[44].