Financial Performance - The company's loss attributable to shareholders significantly decreased to approximately 4,480,000, primarily due to operational and R&D expenses of about 4,990,000[2]. - Revenue for the year ended December 31, 2024, was 719,291,000,comparedto291,000,000 in 2023, representing a significant increase[12]. - Operating loss decreased to 4,337,000in2024from27,713,000 in 2023, indicating improved operational efficiency[12]. - Net loss for the year was 4,482,000,areductionfrom25,049,000 in the previous year, reflecting better financial performance[13]. - Basic and diluted loss per share improved to (1.96)in2024from(11.13) in 2023, suggesting a positive trend in shareholder value[13]. - The group reported a loss of approximately 4,482,000fortheyearendingDecember31,2024[29].−Thecompanyreportedapre−taxlossof4,508,000 for the year 2024, compared to a pre-tax loss of 30,463,000in2023[42].−Thecompanyreportedasignificantreductioninlossattributabletoshareholders,amountingtoapproximately4.48 million for the year ended December 31, 2024, compared to 25.05millionfortheyearendedDecember31,2023,representingan82.120.72 million in 2024 from 0.29millionin2023[58].−Otherincomeroseby166.670.08 million in 2024 from 0.03millionin2023[58].ResearchandDevelopment−Researchanddevelopmentexpenseswerereducedto938,000 in 2024 from 1,379,000in2023,showingafocusoncostmanagement[12].−Thecompanyisengagedininvestmentsinbiopharmaceuticalcompaniesandothercorporateinvestments,indicatingastrategicfocusongrowthsectors[16].−JiangsuWanbangPharmaceuticalsubmittedanewdrugapplicationtotheNationalMedicalProductsAdministration,withexpectationsforapprovalwithin12months,potentiallygenerating5,000,000 (pre-tax) upon receiving the import license for Senstend™[2][4]. - The company has licensed Fortacin™ to Kobayashi Pharmaceutical Co., Ltd. for the Japanese market and is finalizing the budget for Phase III clinical trials in the U.S.[4][5]. - The group is in discussions with two well-known clinical research organizations regarding the third-phase clinical study of Fortacin™ in the U.S.[64]. - The company expects to recognize approximately 52,000inrevenuefromremainingperformanceobligationsunderexistingcontractswithinthenextyear,upfrom10,000 in 2023[45]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and continue its commitment to sustainable development practices[11]. - Future strategic focuses include seeking commercial partnerships for licensing Fortacin™ rights in the U.S. and supporting Jiangsu Wanbang in the commercialization of new drug applications[11]. - The overall business performance in 2024 is viewed positively, reflecting the team's hard work and commitment to sustainable growth[8][9]. - The company maintains a cautiously optimistic outlook for the upcoming year while remaining vigilant about geopolitical and macroeconomic uncertainties[9]. - The group is implementing operational plans to control costs and generate sufficient operating cash flow to meet current and future obligations[31]. Financial Position and Liabilities - Total current assets decreased to 601,000in2024from2,785,000 in 2023, indicating a potential liquidity concern[14]. - Total liabilities increased to 5,901,000in2024from1,551,000 in 2023, highlighting a rise in financial obligations[15]. - The company's current liabilities and total liabilities were approximately 5,048,000and5,901,000, respectively, as of December 31, 2024[102]. - The company’s capital deficit increased from approximately 1.55millionasofDecember31,2023,toapproximately5.90 million as of December 31, 2024, primarily due to the loss attributable to shareholders[59]. - There is significant uncertainty regarding the group's ability to continue as a going concern, depending on the success of its plans and measures[32]. Shareholder and Corporate Governance - The company did not declare or recommend any dividends for the year ended December 31, 2024, consistent with 2023[51]. - The board has resolved not to declare a final dividend for the year ending December 31, 2024, consistent with the previous year[94]. - The company has adhered to the corporate governance code throughout the fiscal year ending December 31, 2024[95]. - The board and senior management are actively involved in strategic planning, focusing on long-term value creation and short-term priorities[75]. - The company is committed to returning shareholder value through value-accretive acquisitions and effective dividend policies[77]. Auditor and Compliance - The independent auditor, Tianzhi, confirmed that the financial statements for the year ending December 31, 2024, were prepared in accordance with Hong Kong Financial Reporting Standards[101]. - The board appointed Tianzhi as the new auditor effective July 16, 2024, following the resignation of Roshan Mei due to disagreements over audit fees[97]. - Roshan Mei resigned as the auditor effective July 16, 2024, after failing to reach an agreement on audit fees for the year ending December 31, 2024[97]. - The annual report for the year ending December 31, 2024, will be available by the end of April 2025[103]. Market Potential and Growth - Senstend™ is projected to initially target around 9 million patients in China, with potential growth to over 170 million patients by the tenth year[6]. - The market for aging solutions, driven by Deep Longevity's AI technology, is valued at over 6trillion,indicatingsignificantgrowthpotential[6].−ThecompanycontinuestohaveconfidenceinDeepLongevity,whichisapioneerinitsfield,utilizingmachinelearningthroughtheSenoClockR◯SaaSplatformtodeterminebiologicalageandprovidelongevityrecommendations[73].−Thecompanyisoptimisticaboutitsbusinessoutlookfor2025,withplanstosubmitanewdrugapplicationtotheNationalMedicalProductsAdministrationandassistJiangsuWanbangPharmaceuticalincommercializingSenstend™inChina,whichisexpectedtogenerateasignificantmilestonepaymentof7,000,000[72].
