Genetron Holdings Limited (“Genetron Health” or the “Company”,
NASDAQ: GTH), a leading precision oncology platform company in
China that specializes in offering molecular profiling tests, early
cancer screening products and companion diagnostics development,
today announced its unaudited preliminary financial results for the
fourth quarter and full year ended December 31, 2021.
2021 and Recent Business
Highlights
- Therapy
Selection:
- As of December 31,
2021, the Company had 58 hospital partners, of which 30 were IVD
hospital partners. Genetron Health is continuing to enhance its
in-hospital sales effort.
- Early
Screening:
-
The Company successfully introduced HCCscreen™ in China as an
LDT service for hepatocellular carcinoma (HCC), along with
establishing collaborations with channel partners involving
government procurements, medical examination centers, hospitals,
and online platforms.
-
After reporting HCCscreen™ prospective cohort study data in
March 2021, the Company has broadened its registrational strategy
for its early screening program with two clinical trials. The
enrollment of subjects in the clinical trial of the PCR-based
assay, HCCscan, is currently on track, with five participating
institutions already started as of the date hereof. The Company
currently plans to enroll subjects for the clinical trial of
NGS-based HCCscreen™ around late second quarter in 2022.
-
The Company developed a multi-omics blood-based CRC early screening
assay, with preliminary retrospective data showing >91%
sensitivity and 95% specificity. Full details are expected to be
published in 2022.
-
MRD:
-
Genetron Health formed a co-development agreement with AstraZeneca
R&D China for personalized MRD tests for solid tumors in China.
Our partner plans to incorporate the co-developed tests for
China-specific studies. This is an exclusive, multi-year
collaboration between both parties.
-
Published MRD assay data based on Mutation Capsule:
-
Gastric cancer data in the Journal of Hematology & Oncology:
The personalized MRD assay showed sensitivity to detect 0.001%
tumor DNA from peritoneal lavage fluid samples for precise
prediction of peritoneal dissemination.
- Locally advanced
rectal cancer data in eBioMedicine, part of THE LANCET Discovery
Science: Analysis on different MRD approaches after neoadjuvant
therapy.
- HCC data:
Publication has been accepted for a high impact journal and would
be available in the next few months
-
The Company formed an exclusive agreement with Fosun Pharma to
commercialize Seq-MRD®. The partnership marks the launch of
Genetron Health’s first product for hematologic cancer and the
first validated NGS-based MRD detection assay in the China
market.
- Companion
Diagnostics (CDx):
-
The Company formed a collaboration agreement with HUTCHMED (China)
for the joint development of a CDx test for ORPATHYS® (savolitinib)
for NSCLC in China, using Genetron Health’s approved NGS-based
8-gene Lung Cancer Assay (Tissue).
-
Onco Panscan, the Company’s CE-marked comprehensive genomic
profiling assay, has passed the type testing in China. Patient
enrollment for the registrational trial is planned to begin in late
second quarter in 2022.
-
AYVAKIT® (avapritinib) CDx kit, developed in partnership with
CStone Pharmaceuticals, has entered the NMPA priority review and
approval process in China.
- Other IVD
Pipeline:
-
Thyroid Basic, a PCR-based assay under development for molecular
classification and prognosis for thyroid cancer, is undergoing a
registrational trial at four clinical sites. The trial is expected
to complete in 2022 with potential IVD approval in 2023.
-
New Patent Issuance:
- Genetron Health’s
innovative Mutation Capsule technology, a method for detecting
mutation and methylation of tumor specific genes in ctDNA, was
granted an invention patent (201910983038.8) by the China National
Intellectual Property Administration.
Fourth Quarter and Full Year 2021
Financial Highlights
- Recorded total revenue of RMB146.9
million (US$23.0 million) in the fourth quarter of 2021 and
RMB532.0 million (US$83.5 million) for the full year of 2021,
representing 9.6% and 25.3% increases over the same periods in
2020, respectively.
- IVD revenue was RMB44.1 million
(US$6.9 million) in the fourth quarter of 2021 and RMB 154.5
million (US $24.3 million) for the full year of 2021, representing
66.4% and 64.4% increases over the same periods in 2020,
respectively.
- LDT revenue was RMB85.9 million
(US$13.5 million) in the fourth quarter of 2021 and RMB337.8
million (US$53.0 million) for the full year of 2021, representing
an 11.4% decrease and a 15.8% increase over the same periods in
2020, respectively.
- Development services revenue was
RMB16.9 million (US$2.7 million) in the fourth quarter of 2021 and
RMB39.6 million (US$6.2 million) for the full year of 2021,
representing 60.9% and 2.0% increases over the same periods in
2020, respectively.
- Gross margin increased to 63.5% for the full year 2021,
compared to 61.3% for the year 2020.
“Throughout 2021 we experienced strong growth
led by our in-hospital IVD sales, advanced our early screening
registrational strategy for hepatocellular carcinoma, developed a
multi-omics blood-based CRC early screening assay, established
partnerships with AstraZeneca R&D China and Fosun Pharma to
develop and commercialize MRD products, and expanded the body of
clinical evidence and publications that are expected to reinforce
and support the clinical value of our tests. These accomplishments
have positioned Genetron Health favorably to advance precision
oncology diagnostics,” said Mr. Sizhen Wang, co-founder, Chairman
and CEO of Genetron Health. “As we have communicated, the continued
enforcement of the “zero COVID” strategy in China has created a
challenging operating environment that we will continue to
navigate. We plan to execute across the business in a catalyst rich
2022 by introducing new products to the market, advancing our
innovative pipeline and providing key data and trial updates that
will further differentiate our portfolio of diagnostics. We are
confident that our solutions can address emerging medical needs in
China, and we expect to witness a significant long-term growth
potential, amid a favorable macro environment where the government
policy prioritizes optimal healthcare for citizens.”
Fourth Quarter 2021 Unaudited Financial
Results
Total revenue increased by 9.6% to RMB146.9 million (US$23.0
million) in the fourth quarter of 2021 from RMB133.9 million in the
same period of 2020.
Diagnosis and monitoring revenue increased
by 5.3% to RMB130.0 million (US$20.4 million) in the fourth quarter
of 2021 from RMB123.5 million for the same period in 2020. The
increase was primarily driven by the growth in revenue generated
from the sale of IVD products, partially offset by a decrease in
revenue generated from the provision of LDT services.
- Revenue generated from the provision of LDT services decreased
by 11.4% to RMB85.9 million (US$13.5 million) in the fourth quarter
of 2021 from RMB96.9 million in the same period of 2020.
Approximately 5,880 units of LDT diagnostic tests were sold in the
fourth quarter of 2021, representing an increase of 10.1% compared
to the number of LDT diagnostic tests sold in the same period of
2020. Sales from the Company’s liquid biopsy early screening
product HCCscreen™ were also included in the fourth quarter
sales of LDT services.
- Revenue generated from the sale of IVD products increased by
66.4% to RMB44.1 million (US$6.9 million) in the fourth quarter of
2021 from RMB 26.5 million in the same period of 2020. The increase
was driven by sales of the Genetron S5 instrument and 8-gene Lung
Cancer Assay (Tissue).
The following table sets forth the number of the
Company’s contracted in-hospital partners as of the end of the
periods presented:
|
2020 |
|
1Q21 |
|
2Q21 |
|
3Q21 |
|
4Q21 |
IVD in-hospital
partners |
22 |
|
23 |
|
28 |
|
29 |
|
30 |
|
|
|
|
|
|
|
|
|
|
|
2020 |
|
1Q21 |
|
2Q21 |
|
3Q21 |
|
4Q21 |
Total in-hospital
partners(1) |
40 |
|
42 |
|
50 |
|
54 |
|
58 |
|
Note:(1) The
number of total in-hospital partners include both sales of LDT
services and IVD products. |
|
Revenue generated from development services increased by 60.9%
to RMB16.9 million (US$2.7million) in the fourth quarter of 2021
from RMB10.5 million in the same period of 2020. The increase was
primarily driven by the growth in revenue generated from
biopharmaceutical services.
Gross profit was RMB83.7 million (US$13.1 million) in the
fourth quarter of 2021, compared to RMB84.1 million in the same
period of 2020. Gross margin decreased to 57.0% in the fourth
quarter of 2021, compared to 62.8% in the same period of 2020,
based on temporary impact resulting from new promotional
activities.
Operating expenses increased by 54.7% to
RMB267.5 million (US$42.0 million) in the fourth quarter of 2021
from RMB173.0 million in the same period of 2020.
Selling expenses increased by 39.5% to RMB100.3
million (US$15.7 million) in the fourth quarter of 2021 from
RMB72.0 million in the same period of 2020. The increase was
primarily driven by higher headcount to expand Genetron Health’s
sales teams. Selling expenses as a percentage of revenue increased
to 68.3% in the fourth quarter of 2021 from 53.7% in the same
period of 2020.
Administrative expenses increased by 46.2% to
RMB64.8 million (US$10.2 million) in the fourth quarter of 2021
from RMB44.3 million in the same period of 2020. The increase was
mainly driven by higher headcount and professional fees.
Administrative expenses as a percentage of revenue increased to
44.1% in the fourth quarter of 2021 from 33.1% in the same period
of 2020.
Research and development expenses increased by
61.3% to RMB85.5 million (US$13.4 million) in the fourth quarter of
2021 from RMB53.0 million in the same period of 2020. The increase
was primarily driven by higher research and development headcount
and related expenses, as well as the Company’s continued efforts in
the development of MRD tests, and clinical activities related to
early screening and key product such as Onco Panscan. Research and
development expenses as a percentage of revenue increased to 58.2%
in the fourth quarter of 2021 from 39.5% in the same period of
2020.
As a result of the above, operating loss
increased to RMB183.8 million (US$28.8 million) in the fourth
quarter of December 31, 2021 from RMB88.9 million in the same
period of 2020.
Finance income-net increased to RMB18.6 million
(US$2.9 million) in the fourth quarter of 2021 from RMB15.6 million
in the same period of 2020. The increase was primarily due to
foreign currency exchange gains.
Loss for the period was RMB165.3 million
(US$25.9 million) for the three months ended December 31, 2021,
compared to RMB73.2 million for the same period of 2020.
Non-IFRS loss for the period, defined as loss
for the period excluding share-based compensation expenses and fair
value loss of financial instruments with preferred rights was
RMB153.1 million (US$24.0 million) for the three months ended
December 31, 2021, compared to RMB62.5 million for the same period
of 2020. Please refer to the section titled “Non-IFRS Financial
Measures” in this press release for details.
Basic loss per share attributable to owners of
the company was RMB0.35 (US$0.06) for the fourth quarter of 2021,
compared with a basic loss per share attributable to owners of the
company of RMB0.16 for the same period of 2020. Excluding
share-based compensation expenses and fair value loss of financial
instruments with preferred rights, non-IFRS basic loss per share
attributable to owners of the company was RMB0.33 (US$0.05) for the
fourth quarter of 2021, compared with non-IFRS basic loss per share
attributable to owners of the company of RMB0.14 for the same
period of 2020. Diluted loss per share attributable to owners of
the company was equivalent to basic loss per share in respective
periods. Each ADS represents five ordinary shares, par value
US$0.00002 per share. Please refer to the section titled “Non-IFRS
Financial Measures” in this press release for details.
Full Year 2021 Financial
Results
Total revenue increased by 25.3% to RMB532.0 million (US$83.5
million) in 2021 from RMB424.5 million in 2020.
Diagnosis and monitoring revenue increased
by 27.7% to RMB492.4 million (US$77.3 million) in 2021 from
RMB385.7 million in 2020. The increase was driven by the growth in
the revenue generated from both the provision of LDT services and
the sale of IVD products.
- Revenue generated from the provision of LDT services increased
by 15.8% to RMB337.8 million (US$53.0 million) in 2021 from
RMB291.7 million in 2020. Approximately 24,360 units of LDT
diagnostic tests were sold in 2021, representing an increase of
11.2% compared to the number of LDT diagnostic tests sold in 2020.
Sales of LDT services also included sales of our early screening
test, HCCscreen™, which has contributed to our revenue growth in
2021.
- Revenue generated from sale of IVD products increased by 64.4%
to RMB154.5 million (US$24.3 million) in 2021 from RMB94.0 million
in 2020. The increase was driven by a growing number of assays and
sequencing platforms sold in 2021, notably the Genetron S5
instrument and 8-gene Lung Cancer Assay (Tissue).
Revenue generated from development services
increased by 2.0% to RMB39.6 million (US$6.2 million) in 2021 from
RMB38.8 million in 2020. The increase was primarily driven by the
growth in revenue generated from biopharmaceutical services,
partially offset by a decrease in revenue generated from sequencing
services.
Gross profit increased by 29.9% to RMB338.0 million
(US$53.0 million) in 2021 from RMB260.2 million in 2020. Gross
margin increased to 63.5% in 2021, compared to 61.3% in 2020. In
2021, gross margin improvements were seen across all major business
lines.
Operating expenses increased by 61.9% to
RMB855.8 million (US$134.3 million) in 2021 from RMB528.6 million
in 2020.
Selling expenses increased by 39.0% to RMB343.2
million (US$53.9 million) in 2021 from RMB 247.0 million in 2020,
primarily due to increased headcount to expand Genetron Health’s
core business as well as early screening sales teams. Selling
expenses as a percentage of revenue increased to 64.5% in 2021 from
58.2% in 2020.
Administrative expenses increased by 79.7% to
RMB227.0 million (US$35.6 million) in 2021 from RMB126.3 million in
2020, primarily due to higher headcount and professional fees.
Administrative expenses as a percentage of revenue increased to
42.7% in 2021 from 29.8% in 2020.
Research and development expenses increased by
70.4% to RMB254.0 million (US$39.9 million) in 2021 from RMB149.0
million in 2020. The increase was primarily driven by higher
research and development headcount and related expenses, as well as
the Company’s continued efforts in the development of MRD tests,
and clinical activities related to early screening and key product
such as Onco Panscan. Research and development expenses as a
percentage of revenue increased to 47.7% in 2021 from 35.1% in
2020.
As a result of the above, operating loss
increased to RMB517.8 million (US$81.3 million) for 2021, from RMB
268.4 million in 2020.
Finance income-net decreased to RMB15.3 million
(US$2.4 million) in 2021 from RMB22.7 million in 2020. The decrease
was related to foreign currency exchange fluctuations.
Loss for the year was RMB502.6 million (US$78.9
million) in 2021, compared to RMB3,069.0 million in 2020.
Non-IFRS loss for the year, defined as loss for
the year excluding share-based compensation expenses and fair value
loss of financial instruments with preferred rights, was RMB448.5
million (US$70.4 million) for 2021, compared to RMB215.7 million in
2020. Please refer to the section titled “Non-IFRS Financial
Measures” in this press release for details.
Basic loss per share attributable to owners of
the company was RMB1.08 (US$0.17) for 2021, compared with a basic
loss per share attributable to owners of the company of RMB10.18
for 2020. Excluding share-based compensation expenses and fair
value loss of financial instruments with preferred rights, non-IFRS
basic loss per share attributable to owners of the company was
RMB0.96 (US$0.15) for 2021, compared with non-IFRS basic loss per
share of RMB0.72 for 2020. Diluted loss per share attributable to
owners of the company was equivalent to basic loss per share
attributable to owners of the company for respective periods. Each
ADS represents five ordinary shares, par value US$0.00002 per
share. Please refer to the section titled “Non-IFRS Financial
Measures” in this press release for details.
Cash and cash equivalents and current financial
assets at fair value were RMB790.5 million (US$124.0 million) as of
December 31, 2021.
Financial Guidance
In the first quarter of 2022, Genetron Health
expects to grow its revenue to approximately RMB 106 million, or
around 15.1% year-over-year growth. Genetron Health expects its
full year 2022 revenue to be around RMB 585-638 million,
representing 10-20% growth over its revenue in 2021.
Conference Call
A conference call and webcast to discuss the
results will be held at 8:30 a.m. U.S. Eastern Time on March 29,
2022 (or at 8:30 p.m. Beijing Time on March 29, 2022). Interested
parties may listen to the conference call by dialing numbers
below:
United
States: |
+1-833-239-5565 |
China Domestic: |
400-820-5286 |
Hong Kong: |
+852-3018-6771 |
International: |
+65-6713-5590 |
Conference ID: |
9419319 |
Participants are encouraged to dial into the
call at least 15 minutes in advance due to high call volumes.
A simultaneous webcast of the conference call
will be available on the “Events and Presentations” page of the
Company’s IR website. A replay of the webcast will be available for
30 days following the event. For more information, please visit
ir.genetronhealth.com.
Exchange Rate Information
All translations made in the financial
statements or elsewhere in this press release made from RMB into
United States dollars (“US$”) are solely for convenience and
calculated at the rate of US$1.00 = RMB6.3726, representing the
exchange rate as of December 30, 2021, set forth in the H.10
statistical release of the U.S. Federal Reserve Board. No
representation is made that the RMB amounts could have been, or
could be, converted, realized or settled into US$ at that rate, or
at any other rate, on December 30, 2021.
Non-IFRS Financial Measures
The Company uses non-IFRS loss and non-IFRS loss
per share attributable to owners of the Company for the
year/period, which are non-IFRS financial measures, in evaluating
its operating results and for financial and operational
decision-making purposes. The Company believes that non-IFRS loss
and non-IFRS loss per share attributable to owners of the Company
help identify underlying trends in the Company’s business that
could otherwise be distorted by the effect of certain expenses that
the Company includes in its loss for the year/period. The Company
believes that non-IFRS loss and non-IFRS loss per share
attributable to owners of the Company for the year/period provide
useful information about its results of operations, enhance the
overall understanding of its past performance and future prospects,
and allow for greater visibility with respect to key metrics used
by its management in its financial and operational
decision-making.
Non-IFRS loss and non-IFRS loss per share
attributable to owners of the Company for the year/period should
not be considered in isolation or construed as an alternative to
operating loss, loss for the year/period or any other measure of
performance or as an indicator of its operating performance.
Investors are encouraged to review non-IFRS loss and non-IFRS loss
per share attributable to owners of the Company for the year/period
and the reconciliation to their most directly comparable IFRS
measures. Non-IFRS loss and non-IFRS loss per share attributable to
owners of the Company for the year/period presented here may not be
comparable to similarly titled measures presented by other
companies. Other companies may calculate similarly titled measures
differently, limiting their usefulness as comparative measures to
the Company’s data. The Company encourages investors and others to
review its financial information in its entirety and not rely on a
single financial measure.
Non-IFRS loss for the year/period represent loss
for the year/period excluding share-based compensation expenses and
fair value loss of financial instruments with preferred rights.
Please see the “Unaudited Non-IFRS Financial Measures” included in
this press release for a full reconciliation of non-IFRS loss for
the year/period to loss for the year/period and non-IFRS loss per
share attributable to owners of the Company for the year/period to
loss per share attributable to owners of the Company for the
year/period.
About Genetron Holdings
Limited
Genetron Holdings Limited (“Genetron Health” or
the “Company”) (NASDAQ: GTH) is a leading precision oncology
platform company in China that specializes in cancer molecular
profiling and harnesses advanced technologies in molecular biology
and data science to transform cancer treatment. The Company has
developed a comprehensive oncology portfolio that covers the entire
spectrum of cancer management, addressing needs and challenges from
early screening, diagnosis and treatment recommendations, as well
as continuous disease monitoring and care. Genetron Health also
partners with global biopharmaceutical companies and offers
customized services and products. For more information, please
visit ir.genetronhealth.com.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about the Company’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. In some cases, forward-looking
statements can be identified by words or phrases such as “may”,
“will,” “expect,” “anticipate,” “target,” “aim,” “estimate,”
“intend,” “plan,” “believe,” “potential,” “continue,” “is/are
likely to” or other similar expressions. Further information
regarding these and other risks, uncertainties or factors is
included in the Company’s filings with the SEC. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any duty to update such
information, except as required under applicable law.
Investor Relations Contact US: Hoki Luk Head of
Investor Relations Email: hoki.luk@genetronhealth.com
Phone: +1 (408) 891-9255
Philip Trip TaylorVice President | Gilmartin
Groupir@genetronhealth.com
Media Relations ContactYanrong ZhaoGenetron
Healthyanrong.zhao@genetronhealth.com
Edmond LococoICREdmond.Lococo@icrinc.com Mobile: +86
138-1079-1408genetron.pr@icrinc.com
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GENETRON HOLDINGS
LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF LOSS |
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For the three months ended |
|
For the year ended |
|
December 31,
2020 |
December 31, 2021 |
|
December 31,
2020 |
December 31,
2021 |
|
RMB’000 |
RMB’000 |
US$’000 |
|
RMB’000 |
RMB’000 |
US$’000 |
Revenue |
133,944 |
|
|
146,863 |
|
|
23,046 |
|
|
|
424,485 |
|
|
531,950 |
|
|
83,475 |
|
Cost of revenue |
(49,820 |
) |
|
(63,144 |
) |
|
(9,909 |
) |
|
|
(164,268 |
) |
|
(193,983 |
) |
|
(30,440 |
) |
|
|
|
|
|
|
|
|
Gross profit |
84,124 |
|
|
83,719 |
|
|
13,137 |
|
|
|
260,217 |
|
|
337,967 |
|
|
53,035 |
|
|
|
|
|
|
|
|
|
Selling expenses |
(71,959 |
) |
|
(100,349 |
) |
|
(15,747 |
) |
|
|
(246,959 |
) |
|
(343,161 |
) |
|
(53,850 |
) |
Administrative expenses |
(44,349 |
) |
|
(64,840 |
) |
|
(10,175 |
) |
|
|
(126,318 |
) |
|
(227,001 |
) |
|
(35,622 |
) |
Research and development expenses |
(52,969 |
) |
|
(85,450 |
) |
|
(13,409 |
) |
|
|
(148,999 |
) |
|
(253,950 |
) |
|
(39,850 |
) |
Net impairment losses on financial and contract assets |
(12,746 |
) |
|
(13,291 |
) |
|
(2,086 |
) |
|
|
(14,843 |
) |
|
(37,032 |
) |
|
(5,811 |
) |
Other income/(loss) - net |
9,039 |
|
|
(3,616 |
) |
|
(566 |
) |
|
|
8,526 |
|
|
5,329 |
|
|
836 |
|
|
|
|
|
|
|
|
|
Operating expenses |
(172,984 |
) |
|
(267,546 |
) |
|
(41,983 |
) |
|
|
(528,593 |
) |
|
(855,815 |
) |
|
(134,297 |
) |
|
|
|
|
|
|
|
|
Operating loss |
(88,860 |
) |
|
(183,827 |
) |
|
(28,846 |
) |
|
|
(268,376 |
) |
|
(517,848 |
) |
|
(81,262 |
) |
|
|
|
|
|
|
|
|
Finance income |
17,268 |
|
|
18,789 |
|
|
2,948 |
|
|
|
28,330 |
|
|
20,501 |
|
|
3,217 |
|
Finance costs |
(1,630 |
) |
|
(229 |
) |
|
(36 |
) |
|
|
(5,627 |
) |
|
(5,251 |
) |
|
(824 |
) |
|
|
|
|
|
|
|
|
Finance income - net |
15,638 |
|
|
18,560 |
|
|
2,912 |
|
|
|
22,703 |
|
|
15,250 |
|
|
2,393 |
|
|
|
|
|
|
|
|
|
Fair value loss of financial instruments with preferred
rights |
- |
|
|
- |
|
|
- |
|
|
|
(2,823,370 |
) |
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
Loss before income tax |
(73,222 |
) |
|
(165,267 |
) |
|
(25,934 |
) |
|
|
(3,069,043 |
) |
|
(502,598 |
) |
|
(78,869 |
) |
Income tax expense |
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
Loss for the period/year |
(73,222 |
) |
|
(165,267 |
) |
|
(25,934 |
) |
|
|
(3,069,043 |
) |
|
(502,598 |
) |
|
(78,869 |
) |
|
|
|
|
|
|
|
|
Loss attributable to: |
|
|
|
|
|
|
|
Owners of the Company |
(73,222 |
) |
|
(162,690 |
) |
|
(25,530 |
) |
|
|
(3,069,043 |
) |
|
(496,238 |
) |
|
(77,871 |
) |
Non-controlling interests |
- |
|
|
(2,577 |
) |
|
(404 |
) |
|
|
- |
|
|
(6,360 |
) |
|
(998 |
) |
|
|
|
|
|
|
|
|
|
(73,222 |
) |
|
(165,267 |
) |
|
(25,934 |
) |
|
|
(3,069,043 |
) |
|
(502,598 |
) |
|
(78,869 |
) |
|
|
|
|
|
|
|
|
Loss per share for
loss attributable to owners of the
company |
|
RMB |
|
|
RMB |
|
|
USD |
|
|
|
RMB |
|
|
RMB |
|
|
USD |
|
-Basic and diluted |
(0.16 |
) |
|
(0.35 |
) |
|
(0.06 |
) |
|
|
(10.18 |
) |
|
(1.08 |
) |
|
(0.17 |
) |
|
|
|
|
|
|
|
|
Loss per ADS for
loss attributable to owners of the
company |
|
|
|
|
|
|
|
-Basic and diluted |
(0.80 |
) |
|
(1.76 |
) |
|
(0.28 |
) |
|
|
(50.92 |
) |
|
(5.39 |
) |
|
(0.85 |
) |
|
|
|
|
|
|
|
|
Shares used in loss
per share computation: |
|
|
|
|
|
|
|
-Basic and diluted |
456,621,292 |
|
|
462,785,013 |
|
|
462,785,013 |
|
|
|
301,379,911 |
|
|
460,547,499 |
|
|
460,547,499 |
|
ADS used in loss per
ADS computation: |
|
|
|
|
|
|
|
-Basic and diluted |
91,324,258 |
|
|
92,557,002 |
|
|
92,557,002 |
|
|
|
60,275,982 |
|
|
92,109,499 |
|
|
92,109,499 |
|
|
|
|
|
GENETRON HOLDINGS
LIMITEDUNAUDITED NON-IFRS FINANCIAL
MEASURES |
|
|
|
|
|
For the three months ended |
|
For the year ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2020 |
December 31,
2021 |
December 31,
2020 |
December 31,
2021 |
|
RMB’000 |
RMB’000 |
US$’000 |
RMB’000 |
RMB’000 |
US$’000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period/year |
(73,222 |
) |
|
(165,267 |
) |
|
(25,934 |
) |
|
(3,069,043 |
) |
|
(502,598 |
) |
|
(78,869 |
) |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation |
10,729 |
|
|
12,144 |
|
|
1,906 |
|
|
29,951 |
|
|
54,144 |
|
|
8,497 |
|
Fair value loss of financial instruments with
preferred rights |
- |
|
|
- |
|
|
- |
|
|
2,823,370 |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-IFRS
Loss |
(62,493 |
) |
|
(153,123 |
) |
|
(24,028 |
) |
|
(215,722 |
) |
|
(448,454 |
) |
|
(70,372 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Owners of the Company |
(62,493 |
) |
|
(150,546 |
) |
|
(23,624 |
) |
|
(215,722 |
) |
|
(442,094 |
) |
|
(69,374 |
) |
Non-controlling interests |
- |
|
|
(2,577 |
) |
|
(404 |
) |
|
- |
|
|
(6,360 |
) |
|
(998 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(62,493 |
) |
|
(153,123 |
) |
|
(24,028 |
) |
|
(215,722 |
) |
|
(448,454 |
) |
|
(70,372 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-IFRS loss per share for loss
attributable to owners of the company |
RMB |
|
|
RMB |
|
|
USD |
|
|
RMB |
|
|
RMB |
|
|
USD |
|
-Basic and diluted |
(0.14 |
) |
|
(0.33 |
) |
|
(0.05 |
) |
|
(0.72 |
) |
|
(0.96 |
) |
|
(0.15 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-IFRS loss
per ADS (5 ordinary shares equal to 1 ADS) for
loss attributable to owners of the
company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic and diluted |
(0.68 |
) |
|
(1.63 |
) |
|
(0.26 |
) |
|
(3.58 |
) |
|
(4.80 |
) |
|
(0.75 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in
non-IFRS loss per share computation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic and diluted |
456,621,292 |
|
|
462,785,013 |
|
|
462,785,013 |
|
|
301,379,911 |
|
|
460,547,499 |
|
|
460,547,499 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADS used in non-IFRS
loss per ADS computation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic and diluted |
91,324,258 |
|
|
92,557,002 |
|
|
92,557,002 |
|
|
60,275,982 |
|
|
92,109,499 |
|
|
92,109,499 |
|
|
GENETRON
HOLDINGS LIMITEDUNAUDITED REVENUE AND SEGMENT
INFORMATION |
|
|
|
Diagnosis and monitoring-provision of LDT
services |
|
Diagnosis and monitoring-sale of IVD
products |
|
Development services |
|
Total |
|
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
|
|
|
|
|
|
|
|
Three months ended December 31, 2020 |
|
|
|
|
|
|
|
|
Revenue |
|
96,948 |
|
26,514 |
|
10,482 |
|
133,944 |
Segment profit |
|
67,209 |
|
16,439 |
|
476 |
|
84,124 |
|
|
|
|
|
|
|
|
|
Three months ended December 31, 2021 |
|
|
|
|
|
|
|
|
Revenue |
|
85,885 |
|
44,112 |
|
16,866 |
|
146,863 |
Segment profit |
|
55,463 |
|
24,300 |
|
3,956 |
|
83,719 |
|
|
|
|
|
|
|
|
|
Year ended December 31, 2020 |
|
|
|
|
|
|
|
|
Revenue |
|
291,702 |
|
93,982 |
|
38,801 |
|
424,485 |
Segment profit |
|
198,170 |
|
60,266 |
|
1,781 |
|
260,217 |
|
|
|
|
|
|
|
|
|
Year ended December 31, 2021 |
|
|
|
|
|
|
|
|
Revenue |
|
337,844 |
|
154,543 |
|
39,563 |
|
531,950 |
Segment profit |
|
231,186 |
|
99,993 |
|
6,788 |
|
337,967 |
|
GENETRON
HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS |
|
|
|
As of December 31, 2020 |
|
As of December 31, 2021 |
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
ASSETS |
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
Property, plant and equipment |
|
76,891 |
|
110,285 |
|
17,306 |
Right-of-use assets |
|
59,706 |
|
52,074 |
|
8,172 |
Intangible assets |
|
12,265 |
|
20,695 |
|
3,247 |
Financial assets at fair value through profit or loss |
|
19,609 |
|
49,780 |
|
7,812 |
Prepayments |
|
15,362 |
|
37,610 |
|
5,902 |
|
|
|
|
|
|
|
Total non-current assets |
|
183,833 |
|
270,444 |
|
42,439 |
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
Inventories |
|
24,971 |
|
35,603 |
|
5,587 |
Contract assets |
|
1,112 |
|
7,775 |
|
1,220 |
Other current assets |
|
36,500 |
|
30,705 |
|
4,818 |
Trade receivables |
|
164,592 |
|
282,113 |
|
44,270 |
Other receivables and prepayments |
|
42,420 |
|
97,895 |
|
15,361 |
Amounts due from related parties |
|
214 |
|
597 |
|
94 |
Financial assets at fair value through profit or
loss |
140,294 |
|
151,443 |
|
23,765 |
Derivative financial instruments |
196 |
|
2,002 |
|
314 |
Cash and cash equivalents |
|
1,375,766 |
|
639,042 |
|
100,280 |
|
|
|
|
|
|
|
Total current assets |
|
1,786,065 |
|
1,247,175 |
|
195,709 |
|
|
|
|
|
|
|
Total assets |
|
1,969,898 |
|
1,517,619 |
|
238,148 |
|
GENETRON
HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
(CONTINUED) |
|
|
|
As
of December 31, 2020 |
|
|
As of
December 31, 2021 |
|
|
RMB’000 |
|
|
RMB’000 |
|
|
US$’000 |
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
|
|
|
Borrowings |
|
5,493 |
|
|
- |
|
|
- |
|
Lease liabilities |
|
43,016 |
|
|
33,865 |
|
|
5,315 |
|
Other non-current liabilities |
|
- |
|
|
8,612 |
|
|
1,351 |
|
|
|
|
|
|
|
|
|
|
|
Total non-current liabilities |
|
48,509 |
|
|
42,477 |
|
|
6,666 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Trade payables |
|
34,071 |
|
|
55,767 |
|
|
8,751 |
|
Contract liabilities |
|
8,417 |
|
|
11,962 |
|
|
1,877 |
|
Other payables and accruals |
|
111,164 |
|
|
157,232 |
|
|
24,673 |
|
Amounts due to related parties |
|
24 |
|
|
3 |
|
|
1 |
|
Borrowings |
|
58,583 |
|
|
19,554 |
|
|
3,068 |
|
Lease liabilities |
|
16,585 |
|
|
20,572 |
|
|
3,228 |
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
228,844 |
|
|
265,090 |
|
|
41,598 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
277,353 |
|
|
307,567 |
|
|
48,264 |
|
|
|
|
|
|
|
|
|
|
|
Net assets |
|
1,692,545 |
|
|
1,210,052 |
|
|
189,884 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Equity attributable to owners of the
Company |
|
|
|
|
|
|
|
|
|
Share capital |
|
59 |
|
|
61 |
|
|
9 |
|
Share premium |
|
6,657,562 |
|
|
6,711,234 |
|
|
1,053,139 |
|
Other reserves |
|
(24,701 |
) |
|
(69,091 |
) |
|
(10,841 |
) |
Accumulated losses |
|
(4,940,375 |
) |
|
(5,436,613 |
) |
|
(853,123 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
1,692,545 |
|
|
1,205,591 |
|
|
189,184 |
|
|
|
|
|
|
|
|
|
|
|
Non-controlling interests |
|
- |
|
|
4,461 |
|
|
700 |
|
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity |
|
1,692,545 |
|
|
1,210,052 |
|
|
189,884 |
|
|
|
|
|
|
|
|
|
|
|
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