During the Track Record Period, our loss for the year remained relatively stable at RMB2.0 billion in 2022 and 2023, and decreased to RMB1.2 billion in 2024.
Summary · 第 22 页
Our net losses incurred during the Track Record Period reflected the necessary investments made to build our shared mobility network and reach the critical mass required for our business.
Summary · 第 7 页
In 2023 and 2024, we reported gross profit of RMB615.4 million and RMB1,186.0 million, respectively, which represents a turnaround from the gross loss of RMB339.0 million in 2022.
We had operating losses during the Track Record Period.
Financial Information · 第 465 页
Accordingly, our management did not consider operating losses as an indication of the impairment for the non-financial assets.
Financial Information · 第 466 页
Our net assets decreased from RMB783.2 million as of December 31, 2023 to RMB525.0 million as of December 31, 2024, primarily due to a loss of RMB274.6 million for that year, mainly attributable to our research and development costs and administrative expenses incurred in 2024.
Our net loss decreased from RMB24.4 million for the year ended December 31, 2023 to RMB3.6 million for the year ended December 31, 2024, primarily because (i) Tianjin Shishi Hospital and Hefei Bayway Hospital improved their regional influence and reputation with the development of their medical disciplines, resulting in obvious business growth and significant reduction in gross losses of these two hospitals; and (ii) other self-owned hospitals continued to improve their healthcare service quality and their performance grew steadily during the same years.
Summary · 第 21 页
We generally recorded improving gross profit margin for our hospital business during the Track Record Period (our gross profit margin of our hospital business increased from 3.3% for the year ended December 31, 2022 to 12.8% for the year ended December 31, 2023, and further increased to 15.2% for the year ended December 31, 2024), along with the enlarging patient base and our gradual efforts in managing these hospitals in a cost-effective manner during their ramp-up stage.
Financial Information · 第 552 页
Our Directors believe that it is feasible for Tianjin Shishi Hospital to reach its breakeven of profit by the end of 2025, and please see the details abovementioned in the same section in this prospectus.
Loss for the year | (20,037) | (20,328) | (26,138)
Summary · 第 9 页
Our loss for the year increased slightly from RMB20.0 million in 2022 to RMB20.3 million in 2023, primarily because (i) our fair value losses on financial liabilities at FVTPL, which represents losses from the fair value change of our Preferred Shares, increased from RMB29.5 million in 2022 to RMB55.5 million in 2023, indicating a higher valuation of our Company, and (ii) our administrative expenses increased from RMB13.9 million in 2022 to RMB33.7 million in 2023, mainly due to the listing expenses of RMB10.8 million incurred in 2023.
Summary · 第 9 页
Our loss for the year increased from RMB20.3 million in 2023 to RMB26.1 million in 2024. This increase was primarily because our administrative expenses increased from RMB33.7 million to RMB56.2 million, in relation to our share-based awards to administrative personnels.
In 2022, 2023 and 2024, our net loss was RMB178.1 million, RMB229.4 million and RMB274.5 million, respectively.
Summary · 第 2 页
Although we recorded gross profit of RMB36.8 million, the net loss widened in 2024, primarily attributable to (i) an increase in impairment loss on trade and other receivables, contract assets and financial guarantee issued of RMB44.9 million, mainly due to increases in trade receivables balances and the average aging of overdue trade receivables; (ii) an increase in administrative expenses of RMB20.8 million, in relation to listing expenses incurred in 2024; and (iii) an increase in research and development expenses of RMB13.1 million, driven by increased staff costs and material consumption.
Summary · 第 2 页
However, with the increasing trend of gross profit margin from 2.0% in 2023 to 5.8% in 2024 which showed an improvement in profitability, we expect a continued growth in our gross profit margin in the future, as we reduce impairment losses on inventory through enhanced inventory management and optimize inventory level.
To date, we have not generated any revenue from product sales and do not expect to generate any revenue from product sales before the commercialization of one or more of our drug candidates.
Business · 第 359 页
We recorded no income tax expense during the Track Record Period, due to our loss before taxation.
Financial Information · 第 437 页
Although we currently have no product approved for commercial sale and have not generated any revenue from product sales, we expect to commercialize one or more of our drug candidates over the coming years.
脑动极光医疗科技有限公司BrainAurora Medical Technology Limited06681.HK
往绩期间各期净亏损且预计2024年续亏
Our loss and total comprehensive expense for the year decreased from RMB697.8 million in 2021 to RMB502.5 million in 2022, primarily due to an RMB237.9 million decrease in fair value loss of financial liabilities at FVTPL, partially offset by an increase in operating expenses and finance costs as we expanded the scale of our operations.
Summary · 第 25 页
We expect to remain at a net loss position in 2024, primarily due to expected significant spending on operating expenses in order to carry out research and development of our products for more indications, to establish sales relationship with more hospitals and expand sales volume, to manage our growth, and to complete this Global Offering.
We incurred net losses of RMB155.3 million, RMB255.6 million, RMB313.9 million, RMB105.3 million and RMB57.3 million in 2021, 2022 and 2023 and for the six months ended June 30, 2023 and 2024, respectively, primarily as a result of changes in carrying amount of the redemption liabilities, and to a lesser extent, our loss from operations of RMB66.4 million in 2021.
Summary · 第 10 页
We expect to record a net loss for the year ending December 31, 2024, primarily due to changes in carrying amount of the redemption liabilities.
Summary · 第 25 页
We expect to further improve our financial performance and profitability in the near future through continuous revenue growth and improved cost efficiency.
We recorded net losses of RMB89.4 million, RMB208.6 million, RMB154.2 million, RMB106.0 million and RMB133.7 million in 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, respectively.
Summary · 第 18 页
Since our establishment and up to the Latest Practicable Date, we recorded net losses and did not achieve profitable primarily due to: (i) our early efforts to launch new products, enhance market acceptance and penetrate the markets of economically developing regions and (ii) our substantial investment in R&D activities.
Business · 第 237 页
We expect to incur net loss and net operating cash outflows for 2024 as we continue to invest in R&D activities for the development, upgrade and optimization of our healthcare AI technologies.
We had loss for year of RMB3,399.3 million, RMB2,205.5 million and RMB1,101.9 million in 2021, 2022, 2023, and we had loss for the period of RMB579.7 million and RMB488.0 million in the six months ended June 30, 2023 and 2024, respectively.
Summary · 第 2 页
Specifically, our operational losses during the Track Record Period were primarily due to (i) the significant depreciation of production equipment prior to the realization of economies of scale; (ii) the significant amount of R&D expenses recognized during the Track Record Period; and (iii) the increasing selling and marketing expenses during the Track Record Period.
Summary · 第 20 页
We expect our revenue to continue increasing, however, since we only began benefiting from economies of scale in 2021 and are still actively implementing measures to reduce the cost of sales and achieve better operating efficiency with our control over the operating expenses, we anticipate to record a loss for the year ending December 31, 2024.
In 2021, 2022 and 2023 and the six months ended June 30, 2023 and 2024, we incurred net loss of RMB139.8 million, RMB220.8 million, RMB207.2 million, RMB132.8 million and RMB112.0 million, respectively.
Summary · 第 11 页
We incurred net losses primarily because we were still at a ramp-up stage and have yet to fully realize economies of scale, and we aim at long-term business success and financial return in the automotive intelligence solutions industry, rather than seeking near-term profitability at the expense of long-term market potential.
Business · 第 288 页
Based on our current development plan and our management's estimates, we do not expect to generate any net profit before 2026.
In 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, we had loss for the year/period of RMB41.8 million, RMB52.5 million, RMB103.3 million, RMB51.7 million and RMB59.9 million, respectively.
Business · 第 260 页
We expect to continue to incur net losses after the Track Record Period.
We incurred net losses of RMB654.3 million, RMB546.1 million, RMB577.5 million and RMB409.4 million in 2021, 2022, 2023 and the five months ended May 31, 2024, respectively.
Summary · 第 18 页
The net losses were primarily attributable to (i) the continuous expansion of our business scale during the Track Record Period that led to increased expenses and raw material costs; (ii) substantial impairment losses on trade receivables recognized; and (iii) significant impairment losses on inventories, particularly in 2022, resulting from rapid product iterations towards high-output fuel cell systems and the decline in market prices.
Summary · 第 18 页
Considering the early stage of industry development and our ongoing investment in R&D expenses, production costs, and other expenses to seize market share and enhance product competitiveness, we anticipate recording net losses in 2024.
Our net losses from continuing operations decreased from RMB1,808.0 million for 2021 to RMB900.0 million for 2022, primarily attributable to our continued gross profit improvement associated with our ongoing strategic focus on our retail core service cloud solutions as well as the decreases in our selling and marketing expenses attributable to the decrease in promotional incentives to retail consumers for our e-commerce service cloud solutions and our general efforts to control costs and optimize our operational efficiency in 2022.
Summary · 第 12 页
We recorded accumulated losses of RMB5,199.4 million, RMB6,008.2 million, RMB6,601.5 million, and RMB6,836.4 million as of December 31, 2021, 2022 and 2023 and June 30, 2024, respectively.
Summary · 第 13 页
Going forward, we plan to achieve long-term profitability and improve our cash flow position in view of our net operating cash outflows as of June 30, 2024, with our overall increase in revenue and through a series of cost control and efficiency enhancement measures, including: (i) refining our organizational structure to maximize employee potential and streamline responsibilities, (ii) upgrading our IT infrastructure to improve performance while managing cloud operations costs, and (iii) redesigning our office space to reduce our lease expense.
江苏国富氢能技术装备股份有限公司Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd.02582.HK
往绩记录期间各期均录得净亏损
For the years ended December 31, 2021, 2022 and 2023 and the five months ended May 31, 2023 and 2024, we recorded loss for the year/period of RMB75.2 million, RMB96.2 million, RMB75.0 million, RMB44.2 million and RMB96.8 million, respectively.
Summary · 第 16 页
Based on the foregoing, we believe that we will be able to achieve revenue growth, gradually narrow our net losses and improve our operating cash flows, and thereby gradually achieve break-even in the near future.
Business · 第 344 页
However, with the breakthroughs in R&D, significant growth of downstream customer demand buoyed by favorable government policies, and large-scale mass production capabilities, we expect to gradually achieve economies of scale in our business operations, reduce our production costs and thereby, improve our profitability.
The loss throughout the Track Record Period was mainly due to the short period of commercialization of Utidelone Injection, given that it was only approved for marketing in 2021 and was included in the NRDL in 2023, and large amount of R&D expenses we incurred for the implementation of clinical plans, because our Group is still at the early stage of business development.
Financial Information · 第 462 页
Accordingly, our management concluded that there was no impairment indicator of noncurrent non-financial assets as of December 31, 2022 and 2023 and May 31, 2024.
In 2021, 2022 and 2023 and for the six months ended June 30, 2023 and 2024, we incurred losses for the period of RMB2,063.6 million, RMB8,720.4 million, RMB6,739.1 million, RMB1,888.5 million and RMB5,098.1 million, respectively, and adjusted net loss (Non-IFRS measure) of RMB1,103.2 million, RMB1,891.4 million, RMB1,635.2 million, RMB996.0 million and RMB803.9 million, respectively.
Summary · 第 24 页
In the coming years, we plan to break-even and realize profitability by implementing business initiatives of expanding revenue scale, maintaining gross margin profile, enhancing operating leverage and improving operations of CARIZON.
Financial Information · 第 385 页
In 2021, 2022 and 2023 and for the six months ended June 30, 2023 and 2024, we recorded share of net losses of investments accounted for using the equity method of RMB2.5 million, RMB34.3 million, RMB112.1 million, RMB16.8 million and RMB181.6 million, respectively.
Our loss for the year increased from RMB212.8 million in 2022 to RMB324.1 million in 2023 primarily because of (i) the fluctuation in the fair value changes of financial assets at fair value through profit or loss from a gain of RMB30.9 million in 2022 to a loss of RMB54.7 million in 2023, and (ii) the increase in fair value losses on convertible redeemable preferred shares from RMB83.8 million in 2022 to RMB156.1 million in 2023, partially offset by the increase in our gross profit from RMB228.6 million in 2022 to RMB280.2 million in 2023.
Summary · 第 12 页
According to iResearch, companies operating in the audiovisual PaaS industry have generally yet to achieve profitability, given their heavy investments upfront especially in research and the general pricing strategies adopted to quickly capture additional market share.
Summary · 第 15 页
Having said that, we still expect to record net losses in 2024, primarily due to fair value losses on convertible redeemable preferred shares, share-based payments and listing expenses expected to be incurred and in light of the competitive market environment and our financial performance improvement initiatives as set out in the section headed “Business — Business Sustainability and Path to Profitability” continues to take effect.
浙江太美医疗科技股份有限公司Zhejiang Taimei Medical Technology Co., Ltd.02576.HK
往绩记录期间持续亏损且预期继续亏损
In 2021, 2022, 2023 and the three months ended March 31, 2024, we incurred net losses of RMB479.6 million, RMB422.6 million, RMB356.4 million and RMB118.2 million, respectively.
Summary · 第 10 页
We have been loss-making since our establishment in 2013, and we will continue to be loss-making in the foreseeable future, including 2024, when we expect to continue to incur operating cash outflow.
Summary · 第 11 页
We believe these historical factors to be no longer applicable or are expected to be alleviated in our new phase of development because (i) our substantial investments in market education is expected to subside given (A) we have proven the capabilities of our solutions, (B) we have become the most widely adopted digital solution provider for pharmaceutical and medical device R&D and commercialization in China in terms of number of customers, according to CIC, and (C) our current broad coverage of the number of customers would allow us to conduct sales and marketing activities more cost efficiently, which is expected to generate word-of-mouth effect that could alleviate the need for continuous market education; (ii) software development expenses have passed the peak, as in 2023, we optimized less efficient product lines and substantially completed the SaaS transformation of pharmaceutical and medical device commercialization software which have a higher margin than previously offered customized commercialization software, and streamlined our R&D headcount, while optimizing our software development process through improving the application of our core technologies; and (iii) our solutions become more profitable as they scale without proportionally increasing our costs and expenses.
Our net loss decreased to RMB196.7 million in 2023, primarily because we had attracted and retained a larger paying user base, and leveraged our supply chain capabilities to procure pharmaceutical and healthcare products at more attractive prices.
Summary · 第 13 页
In 2021 and 2022, our adjusted net loss (non-HKFRS measure) was RMB206.8 million and RMB89.4 million, respectively.
Summary · 第 16 页
Going forward, we expect to sustain our revenue growth and achieve profitability by, among other things, (i) building economies of scale, controlling operating expenses and further improving our operating efficiency by enhancing the productivity of our in-house teams, adapting our staffing strategy to evolving business requirements, streamlining internal workflows, and leveraging technology to drive cost-efficient and centralized management; (ii) building a high-quality user base by expanding and diversifying our product portfolio, especially high-margin, prescription, and difficult-to-source drugs for chronic diseases, to meet evolving user needs; (iii) introducing products and services which can bring higher value-added and increased scale, including content offerings in multimedia formats; and (iv) lowering procurement costs and improving our gross profit margin by leveraging our growing procurement volumes and strengthened bargaining power to negotiate more favorable input prices and procurement terms.