百利天恒(688506) - 投资者关系活动记录表（2024年5月22日）

Group 1: Financial Highlights - The company received an upfront payment of $800 million from BMS as of March 7, 2024 [2] - The first quarter revenue recognition related to the licensing agreement with BMS aligns with accounting standards [2] - The company has not distributed dividends since 2021, raising concerns about compliance with new regulations [3] Group 2: Regulatory Compliance - The company’s cumulative cash dividends over the last three years are below 30% of the average net profit, which may trigger risk warnings [3] - The company’s net profits for 2021, 2022, and 2023 were negative, but its R&D investments meet the exemption criteria [3] - Future dividend policies will be aligned with regulatory guidelines to ensure stable returns for investors [3]