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LATEST COMPANY NEWS.

News and Commentary

Daily Times - Pakistan, China to boost medical cooperation - 2/6/2020

This news caused a global sensation at the time.

For the complete story, see:

https://dailytimes.com.pk/765651/pakistan-china-to-boost-medical-cooperation/

China Bio - Innovent Announces $189 Million Agreement for TKI from Hangzhou Company - 1/6/2020

Suzhou Innovent Biologics acquired China rights to co-develop and commercialize taletrectinib, an AnHeart oncology treatment, in a $189 million pact.

For the complete story, see:

http://www.chinabiotoday.com/articles/innovent-189-million-anheart

EIN News - Shuwen Biotech and Stella Maris Medical Alerts LDA Announce Partnership to Commercialize Uromonitor® in China - 1/6/2020

Under the terms of the agreement, Shuwen will distribute Uromonitor® and offer testing services with Uromonitor® in its CAP-accredited clinical labs in China.

For the complete story, see:

https://www.einnews.com/pr_news/542621840/shuwen-biotech-and-stella-maris-medical-alerts-lda-announce-partnership-to-commercialize-uromonitor-in-china

PRNewswire - Neurophth Therapeutics and Hopstem Biotechnology Announce Strategic Partnership to Develop Human Induced Pluripotent Stem Cell-Derived Therapies for the Treatment of Ocular Diseases - 1/6/2020

Neurophth Biotechnology and Hopstem Biotechnology announced a strategic partnership aiming to provide human iPSC-derived cell therapy for ocular diseases.

For the complete story, see:

https://www.prnewswire.com/news-releases/neurophth-therapeutics-and-hopstem-biotechnology-announce-strategic-partnership-to-develop-human-induced-pluripotent-stem-cell-derived-therapies-for-the-treatment-of-ocular-diseases-301302715.html

China Bio - Transcenta Reports Positive Results from Phase I Trial of PD-L1 - 28/5/2020

Transcenta, a Suzhou biotherapeutics company, reported positive results from a Phase I trial of its pH-dependent PD-L1 antibody in pre-treated solid tumor and lymphoma patients.

For the complete story, see:

http://www.chinabiotoday.com/articles/transcenta-results-trial-pdl1

China Bio - Ascletis Says China Accepts Filing of Phase I GBM Trial for Review - 25/5/2021

Hangzhou's Ascletis Pharma reported that China has accepted for review the company's filing for a clinical trial of a brain cancer treatment.

For the complete story, see:

http://www.chinabiotoday.com/articles/ascletis-trial-gbm

China Bio - HitGen Partners with Dorian to Discover Drugs for Age-Related Diseases - 24/5/2021

HitGen of Chengdu will collaborate with Dorian Therapeutics, a Bay Area biotech, to develop senoblockers, a new drug class designed fight aging by rejuvenating cells and tissues.

For the complete story, see:

http://www.chinabiotoday.com/articles/hitgen-dorian-age-related-diseases

Cleanroom Technology - Camfil and Sinopharm form air filtration strategic cooperation - 25/5/2021

Strategic cooperation has been formed between Camfil and Sinopharm, China to uplift the air filtration standards in the biopharma industry.

For the complete story, see:

https://www.cleanroomtechnology.com/news/article_page/Camfil_and_Sinopharm_form_air_filtration_strategic_cooperation/176837

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Media Releases

Sinovac Biotech Ltd. (NASDAQ: SVA) - World Health Organization Authorizes SINOVAC's CoronaVac® for Emergency Use - 2/6/2021

2021-06-02

BEIJING - June 1, 2021 - SINOVAC Biotech Ltd. ("SINOVAC" or the "Company") (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, today announced that CoronaVac®, an innovative, inactivated coronavirus vaccine developed by SINOVAC Life Sciences Co., Ltd. ("SINOVAC"), a subsidiary of the Company, was approved for emergency use under the World Health Organization ("WHO") Emergency Use Listing ("EUL") procedure. Prior to this, the Strategic Advisory Group of Experts on Immunization ("SAGE") had recommended two doses of CoronaVac® for adults aged 18 and above with an interval of 2 to 4 weeks.

The WHO EUL procedure is a technical review process to assess and review unlicensed vaccines and other products to expedite their availability to people affected by public health emergencies. SINOVAC had submitted clinical and non-clinical research data, as well as manufacturing and control ("CMC") data, to the WHO review group to evaluate the quality, safety, efficacy data and risk management plan of CoronaVac®. In February 2021, the WHO conducted an on-site inspection of SINOVAC's manufacturing facilities of CoronaVac®, as well as its quality management system. SAGE also conducted a systematic review of CoronaVac® and concluded that the benefits of using SINOVAC's inactivated coronavirus vaccine are greater than the known risks, recommending the use of this vaccine.

In addition, the European Medicine Agency ("EMA") has initiated the rolling review of CoronaVac®. This marks the first step in the process for CoronaVac® to obtain EU approval for use.

Mr. Weidong Yin, the Chairman, President, and CEO of SINOVAC, said, "The phase III clinical research and follow-up real-world studies in Brazil, Turkey, Indonesia and Chile represent good examples of the collaborative, global action against the pandemic. These studies have provided a solid scientific foundation for CoronaVac® to be approved by more than 40 countries, as well as the WHO. These achievements could not have happened without the efforts of global partners and scientists. As the COVID-19 pandemic persists, SINOVAC will continue to participate in pandemic prevention and control actions, acknowledging the value of China's COVID-19 vaccine as a global public good and contributing to the international triumph over the COVID-19 pandemic.

In June 2020, CoronaVac® became the first vaccine approved for emergency use in China and was further approved for conditional marketing use on February 5th, 2021.

On April 1st, 2021, the third phase of a CoronaVac® bulk production manufacturing facility was completed and began operations, allowing the annual production capacity to exceed 2 billion doses. SINOVAC's manufacturing control system of CoronaVac® has been inspected by China, Brazil, Indonesia, Chile and Saudi Arabia, as well as the WHO. Large-scale production of hundreds of batches have proven the stability and reliability of SINOVAC's vaccine manufacturing control system. At this time, SINOVAC has provided CoronaVac® to nearly 40 countries and regions, including mainland China, directly and indirectly. The total supply has already exceeded 600 million doses. Moreover, according to incomplete statistics, over 430 million doses have been administrated worldwide. SINOVAC has become the largest domestic supplier and exporter of China's COVID-19 vaccine. The safety and effectiveness of CoronaVac® has been verified all over the world.

About SINOVAC

SINOVAC Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus71 (EV71), hepatitis A and B, seasonal influenza, 23-Valent pneumococcal polysaccharide ("PPV"), H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella and mumps. SINOVAC's COVID-19 vaccine, CoronaVac®, has been granted emergency use approval or conditional marketing authorization by over 40 countries or regions worldwide. Healive®, the hepatitis A vaccine manufactured by the Company, has passed the assessment under WHO prequalification procedures in 2017. The EV71 vaccine, an innovative vaccine developed by SINOVAC against hand foot and mouth disease caused by EV71, was commercialized in China in 2016. In 2009, SINOVAC was the first company worldwide to receive approval for its H1N1 influenza vaccine, which it has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government stockpiling program. The Company is developing several new products including a Sabin-strain inactivated polio vaccine and combined vaccines. SINOVAC primarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company is seeking market authorization of its products in over 30 countries outside of China. For more information please see the Company's website at www.sinovac.com.

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. In particular, the outcome of any litigation is uncertain, and the Company cannot predict the potential results of the litigation it filed or filed against it by others. Additionally, the triggering of a shareholder rights plan is nearly unprecedented, and the Company cannot predict the impact on the Company or its stock price as a result of the trigger of the rights plan.

http://www.sinovac.com/news/shownews.php?id=1245&lang=en

China Shineway Pharmaceutical Group Limited (HKSE: 2877) - Poll results of the annual general meeting help on 28 May 2021 - 28/5/2021

The Board is pleased to announce that all the Resolutions as set out in the notice of AGM were duly passed at the AGM held on 28 May 2021.

Reference is made to the circular (the "Circular") of China Shineway Pharmaceutical Group Limited (the "Company") dated 26 April 2021. Capitalised terms used in this announcement shall have the same meanings as those used in the Circular unless otherwise stated.

The Board announces that at the AGM all proposed resolutions (the "Resolutions") as set out in the notice of the AGM dated 26 April 2021 were put to the AGM for voting by poll. At the AGM, all the Resolutions as set out in the notice of the AGM were duly passed and the poll results are

As more than 50% of the votes were cast in favour of each of the Resolutions, all the Resolutions were duly passed as ordinary resolutions at the AGM.

As at the date of the AGM, the total number of issued shares of the Company was 827,000,000 shares, which was the total number of Shares entitling the Shareholders to attend and vote for or against any of the Resolutions at the AGM. There were no Shares entitling any Shareholders to attend and abstain from voting in favour of any of the Resolutions at the AGM as set out in Rule 13.40 of the Listing Rules, and there were no Shares requiring the Shareholders to abstain from voting at the AGM under the Listing Rules. No person has indicated in the Circular that he/she/it intends to abstain from voting or vote against any of the Resolutions at the AGM.

Computershare Hong Kong Investor Services Limited, the Hong Kong branch share registrar of the Company, acted as scrutineer for the vote-taking at the AGM.

http://api.aconnect.com.hk/Attachment/65450

Mindray Medical International Limited (NYSE: MR) - Mindray Defines Future of Imaging Technologies with New General Imaging, Women's Healthcare and Cardiology Ultrasound Solutions - 28/5/2021

2021-05-28

Mindray (SZSE: 300760), a global leading developer and provider of medical devices and solutions, has announced the launch of its new General Imaging, Women's Healthcare, and Cardiology ultrasound solutions on May 28, 2021. Underpinned by the theme "Innovation Defines", each solution is specifically designed to increase the strength of diagnostic evidence available to doctors to ensure better patient care.

"For over 30 years, innovation has been deeply-rooted in Mindray's DNA. With hospital systems growing and expanding, it is imperative for the healthcare industry to continue to go beyond designing individual products to engineering connected healthcare solutions. It is with this holistic view that we can ensure an improved healthcare experience for patients, whilst helping to expand clinical capacity," said He Xujin, General Manager of Mindray Medical Imaging Systems. "The launch of our latest ultrasound solutions marks a milestone for Mindray, as we continue to pioneer new platforms under the guiding principle, 'Innovation Defines'".

Mindray's General Imaging ultrasound solutions are equipped with a number of advanced technologies, including high frame rate contrast-enhanced ultrasound (HiFR CEUS), comprehensive HiFR elastography, and enhanced quantification measurement for a new level of image clarity. These features provide clinicians with extensive tools for more precise diagnosis and treatment - giving them reinforced confidence for improved patient outcomes.

The Women's Healthcare ultrasound solutions offer a diversified range of expert tools that includes Smart Scene 3D, Smart Planes CNS, Smart ICV, Smart Pelvic and Smart ERA. These features have been designed and inspired by the daily work of clinicians with the aim of enhancing efficiency for OBGYN applications, including IVF, neonatal and postpartum.

For cardiovascular clinicians, Mindray's new Cardiology ultrasound solutions include TEE imaging, HiFR V-Flow, Wall Shear Stress (WSS), real time IMT. These technologies allow for truly accurate visualization, which arms clinicians with extra evidence for diagnostic certainty.

Mindray draws upon its deep insights into unmet clinical needs to provide clinicians with comprehensive imaging solutions that allow for precise diagnoses and treatments across different applications. The three latest medical imaging solutions combine extraordinary technologies with smart applications and an intuitive workflow that elevates the quality of clinical data to a higher level. At the same time, patients can benefit from faster medical imaging and more accurate detection of potential complications, all at the point of care.

https://www.mindray.com/en/news/details/Mindray_Defines_Future_of_Imaging_Technologies_with_New_General_Imaging_Women_s_Healthcare_and_Cardiology_Ultrasound_Solutions.html

# Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries www.acquisdata.com #

# Reportal: a vast archive of corporate documents from listed companies around the world www.reportaldata.com #

Latest Research

Hepatoprotective effect of anemoside B4 against sepsis-induced acute liver injury through modulating the mTOR/p70S6K-mediated autophagy

Liang Pei, Linxi He

Abstract

Sepsis triggers liver dysfunction with high morbidity and mortality. Here, we elucidated the effect of anemoside B4 on sepsis in cecal ligation and puncture (CLP)-induced mouse model and LPS-induced primary hepatocytes. Following CLP surgery, septic mice were intraperitoneally injected with anemoside B4 (50 or 100 mg/kg). Anemoside B4 improved septic mouse survival rate, decreased serum AST and ALT levels and attenuated liver histopathologic damages. Western blot analysis showed that anemoside B4 elevated the expression of Beclin-1, LC3II/LC3I, Atg3, Atg5, and Atg7, and reduced p62, suggesting the restoration of autophagy flux in liver. More autophagic vesicles were observed in liver after anemoside B4 treatment using transmission electron microscopy. Using ELISA and commercial enzyme kits, we found that anemoside B4 decreased serum TNF-[alpha], IL-6, and IL-1[beta] levels and increased CAT, SOD and GSH activities. TUNEL staining and western blot revealed that anemoside B4 suppressed cell apoptosis, along with decreased Bax, leaved caspase-3, cleaved PARP, but increased Bcl-2. Consistent with in vivo findings, anemoside B4 inhibited apoptosis, inflammatory response, and oxidative stress and enhanced autophagy in LPS-induced primary hepatocytes. Importantly, these cellular processes were possibly mediated by mTOR/p70S6K signaling, as reflected by the offset of 3-MA in the immunosuppression of anemoside B4.

https://www.sciencedirect.com/science/article/abs/pii/S0009279721001708

The Industry

China's Biotechnology Sector

Key Findings

* China's biotech industry has been growing rapidly in the past decade but still remains less than a tenth the size of the US biotech industry in terms of market size. China's biologics market is estimated at 30 to 40 billion yuan ($4.7 to $6.2 billion) and their agricultural biotech market is around $8.1 billion, while estimates places those US markets at $118 billion and $110 billion, respectively. Overall, the US maintains its lead through worldclass research training and strong governmental support of R&D, but China is seeking to close the gap through its top-down government strategy and coordination, talent recruitment programs, high R&D spending across the industry, and capacity for high-tech R&D.

* China's biotechnology sector is dominated by biologics and other medical technologies. The segment is growing quickly due to increasing demand and the high value of the products relative to traditional pharmaceuticals. While Chinese biotech companies develop few innovations (instead producing biosimilars or performing contract research and manufacturing), they still provide a high-tech and high-skill foundation for future innovation, with potential demonstrated in some cutting-edge technologies like CAR-T and CRISPR.

* China's drug approval policies create advantages for Chinese developers of biopharmaceuticals and other drugs. Drugs manufactured in China and drugs not previously approved outside of China receive fast-track review. The duration of market protection via data exclusivity for newly approved biologics is maximized when clinical trials are performed in China and the drug is not approved elsewhere.

* Investment in the agricultural biotechnology segment is low in China, despite a stated goal of developing the technology. China does not grow much GM crop, with the exception of cotton for export. Regulatory burdens and lack of consumer support have led to a lack of GM commercial activity, although China is investing in GM research. The recent purchase of GM seed producer Syngenta by ChemChina may signal a turnaround in this market, although catching up to the US in the foreseeable future is not likely due to the size of the lead the US has.

* The development of China's biotech sector is fueled by many commercial factors- such as a massive future market, cheap labor, and abundance of talent-but industrial and technology policies play an important role as well. China is pursuing a comprehensive, long term strategy to become a leader in biotechnology, especially medical biotechnologies. Biotechnology is named as a Strategic Emerging Industry, and plans such as Made in China 2025 and the 13th Five Year Plan prioritize its development. As a result of these and other policies, the Chinese government is supporting the biotechnology industry through investment in infrastructure, development of research parks, and recruitment of overseas talent.

* China is following a strategy of using international resources to further the advancement of China's own industries, including biotechnology, as emphasized in Made in China 2025. China is specifically targeting foreign capital as a mechanism to increase investment in Chinese technology companies, including biotechnology, to broaden their international footprint.

* As China's biotechnology industry develops, we are likely to see continued advancement in medical biotechnology, especially in biologics, genomics, and molecular diagnostics. Chinese biologics companies may move further toward producing innovative drugs. Given investments in agricultural biotechnology R&D, this segment may begin to see commercialization should restrictive policies and attitudes change. Due to a sizable lead, though, the US is not likely to lose its standing in the global biotech sector provided it maintains its investment in the industry.

Source: U.S.-China Economic and Security Review Commission

https://www.uscc.gov/sites/default/files/Research/US-China%20Biotech%20Report.pdf

# Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries www.acquisdata.com #

# Reportal: a vast archive of corporate documents from listed companies around the world www.reportaldata.com #

Leading Companies

Amoytop Biotech (SH: 688278)

Xiamen Amoytop Biotech Co., Ltd. is an innovative biopharmaceutical company in China, specialized in R&D, manufacturing and marketing of regular and long-acting recombinant protein drugs. Focusing on the R&D of immune-related cytokine medicines, Amoytop Biotech is committed to becoming a leader in solving cytokine medicine-based systemic immune problems, providing better solutions for major diseases (such as viral hepatitis, malignant tumors) and immunotherapy. Currently, Amoytop Biotech is specially focusing on CHB (chronic hepatitis B) treatment aiming to achieve breakthroughs in clinical cure of CHB.

Targeting major diseases and immunotherapy fields, Amoytop Biotech has built an innovation platform covering the expression, long-acting modification and industrialization of various protein drugs, and owned the innovation ability in fundamental research, pilot-scale research, clinical study and industrialization research. Now,and been awarded as a national innovation-oriented enterprise which has advantages in national intellectual property. Keeping the global market in mind, Amoytop Biotech spares every effort to explore international markets based on the domestic market. Up to now, Amoytop Biotech has marketed its products in South-East Asia, South America and CIS area. Through technical innovation, scientific management and product industrialization, Amoytop Biotech aims to gradually become a leading international biopharmaceutical company in China.

After 14-year development, the long-acting interferon drug product of Amoytop Biotech, Pegberon® (pegylated interferon alfa-2b), national class-1 new drug, was approved in China in 2016. Pegberon is the first 40kD Y-shape branched PEG modified interferon alfa-2b injection in the world, with special structure in complete patent protection, has broken the monopoly of foreign products in treatment of viral hepatitis, and awarded with "2016 Top 10 China Medicinal Biotech Progress" by China Medicinal Biotechnology Association.

Recently, with the idea of "clinical cure" in chronic hepatitis B treatment filed has been gradually recognized by hepatitis specialists and clinicians, Amoytop Biotech has supported/conducted a series of research projects aiming to improve CHB clinical cure level, including CHB clinical cure projects listed in the National Major Scientific and Technological Special Projects during the "13th Five-year Plan" period, exploratory researches on the application and optimization of chronic hepatitis B clinical cure, and relevant confirmatory clinical trials. Through continuous exploration and accumulation, Amoytop Biotech is devoted to be the leader in CHB clinical cure field based on pegylated interferon alfa-2b.

http://www.amoytop.com/en/index.php?p=about#about1

Beijing Tri-Prime Genetic Engineering Co., Ltd.

Beijing Tri-Prime Gene Pharmaceutical Co., Ltd. (hereinafter referred to as Tri-Prime) is a leading biopharmaceutical enterprise with a registered capital of RMB 110 million Yuan. It is specialized in research, development, production and sales of medical & biotechnological products, including genetic engineering drugs, genetic engineering vaccine and diagnostic reagent, and also carries out technology trade and technical consulting services related thereto.

Founded in 1992, Tri-Prime was co-founded by Dr. Hou Yunde, former vice president of the Chinese Academy of Engineering and Mr. Cheng Yongqing, who is one of China's first professional managers engaged in high-tech entrepreneurship and venture capital investment.

As the main product of Tri-Prime, Recombinant Human Interferon-[alpha]1b (Hapgen®) is China's first genetic engineering Class I new drug, with its own independent intellectual property rights. Used to treat various kinds of viral diseases and malignant tumors, Hapgen® has established its top notch brand position in China, and generated great economic and social benefits.

Tri-Prime has developed strong R&D capabilities and has undertaken a number of critical new drug development projects at the Beijing municipal level and state level. Since 2001, a post-doctoral research station has established in Tri-Prime and approved by the State Ministry of Personnel. Currently, Tri-Prime has more than 10 approved products with certificates for manufacturing and sales, and holds over 10 new candidate products in pre-clinical and clinical stage. In addition, Tri-Prime owns more than 40 invention patents from China, the US and other countries.

http://www.triprime.com/en/second.aspx?nodeid=287

Beijing Peking University WBL Biotech Co., Ltd.

Beijing Peking University Weixin Biotechnology Co., Ltd. (hereinafter referred to as "Peking University Weixin") was established in July 1994 in Beijing Zhongguancun Science and Technology Park, and is jointly funded by Shandong Luye Pharmaceutical Co., Ltd. and Peking University Asset Management Co., Ltd. It is a high-tech enterprise dedicated to the research, development, production and sales of natural medicines and modern Chinese medicines.

Peking University Weixin always adheres to the philosophy of "Technical professional focus, cultural achievements, and management excellence", and strives to become a trustworthy modern Chinese medicine company.

Peking University Weixin Production Plant is located in Zhongguancun Yongfeng High-tech Industrial Development Base, and has passed the national GMP certification, ISO9001, ISO14001 and ISO45001 three-system certification, and passed the CNAS certification.

Since its establishment, the company has been recognized and encouraged by various levels of government: national intellectual property advantage enterprises, Beijing biomedical industry leapfrog development project (G20 project) enterprises, Zhongguancun "100 Hundred Thousand Projects" key cultivation enterprises, Beijing integrity creation enterprises, Chinese medicine Modern demonstration project, Beijing IPR demonstration unit, Zhongguancun 100 "Innovative Pilot Enterprise", Beijing Enterprise Technology Center, Beijing Tax Credit A-level Unit (2009-2014), 7th Zhongguancun Quality Award (2018) year).

Since its establishment, Peking University Weixin has gone through a road of modernization and innovation of traditional Chinese medicine. In the future, Peking University will not forget the original intention, based on honesty, continue to adhere to the road of modernization and internationalization of traditional Chinese medicine, continue to innovate with professional and dedicated attitude, provide customers with high quality and safe products, provide efficient service to customers, and strive to provide efficient services. The company will be built into a respected and trusted modern Chinese medicine company.

http://www.wpu.com.cn/about.php

China National Biotec Group (HKSE: CNBG)

China Biotechnology Co., Ltd. started in 1919

Formerly known as the Central Epidemic Prevention Office of the Beiyang Government, the company was directly under the leadership of the Ministry of Health after the founding of the People's Republic of China. It is now an important member of the World Top 500 China Pharmaceutical Group Co., Ltd., which has a long history, complete products and large scale, and integrates scientific research, production and sales. A comprehensive biopharmaceutical company that integrates graduate education. It has 11 secondary subsidiaries and 69 subsidiaries below the second level with 10,663 employees.

China Bio has a rich product line covering human vaccines, blood products, medical beauty, animal health, antibody drugs, and medical diagnosis. The human vaccine can produce 50 kinds of products per year, with an annual output exceeding 700 million doses, ranking sixth in the world, providing more than 80% of national immunization planning vaccines; and listed companies with annual plasma collection of more than 1,500 tons, producing blood products. 11 kinds; as the only botulinum toxin producer approved by the government in China, the medical and beauty products are highly recognized by the market; provide the society with all-round and high-quality services of animal vaccines and related veterinary biological products; and have a complete antibody drug industry. Chains and distinctive molecular diagnostics for large industrial chains.

China Bio has strong scientific and technological innovation strength, has a research and development team of more than 1,000 people and a quality management team of more than 1,100 people, including one academician of the Chinese Academy of Engineering, one national "863" plan vaccine project chief scientist, and 13 national pharmacopoeia committee members. With 5 post-doctoral workstations, 1 doctoral degree granting point, and 5 master's degree awarding points, it has delivered a large number of high-end talents for the development of China's biopharmaceutical industry.

Adhering to the concept of "care for life and care for health", China Bio has played an irreplaceable professional support and stabilized society in the national emergency prevention and control of major infectious diseases and epidemics, as well as major disaster relief. Since the "13th Five-Year Plan", Chinese biology has continued to play a leading role in the industry and is becoming an innovative bio-pharmaceutical enterprise that leads the development of domestic industry, has international competitiveness, and is respected by society.

https://www.cnbg.com.cn/about/index.html#section1

About us

China National Biotec Group (CNBG), is a subsidiary of China National Pharmaceutical Group corporation (SINOPHARM), and has 6 subordinate biological products research institutes in Beijing, Changchun, Chengdu, Lanzhou, Shanghai and Wuhan as well as Beijing Tiantan Biological Products Co., Ltd.

CNBG is a professional institute which has the longest history in vaccine and blood production research and development in China, and is the biggest biotech corporation combines research, development, production and supply in one. To date, the total assets of the group is 15.6 billion RMB, main operating revenue exceeds 5 billion RMB, is the fourth biggest vaccine manufacturer in the world. The development of CNBG represents the development history of Chinese biological products industry. CNBG developed and produced the earliest vaccine of smallpox, cholera, typhoid and rabies as well as diphtheria antitoxin etc., separated the first Penicillium strain in China. Since the establishment of P.R.C, CNBG and it's subordinate biological products research institutes take the responsibility of production of biological products for preventing, controlling and eradiating of infectious diseases, made great contribution in China's endeavor of eradiating smallpox, eliminating polio, reducing the incidence of various infectious diseases including measles, diphtheria, pertussis, epidemic encephalitis B, DCSM and hepatitis B. CNBG has strong industrialization capacity, possesses production bases in six main cities with nearly one hundred production line up to GMP standard, with the ability of manufacture more than 200 biomedicine products for prevention, treatment and diagnoses, among which there are 24 national first and second-class new medicine, 34 types of vaccines preventing 24 viruses and bacteria whereas there are 41 types of vaccines preventing 26 viruses and bacteria can be produced in China.

CNBG is the biological products corporation with the most types and the largest output of vaccines and blood products in China. CNBG does its best to serve the national immunity programme, takes more than 80% production assignment of vaccines for national immunity programme. Meanwhile, with its technology advantage, contribute to research, production, facility and technology upgrade for serious infectious diseases prevention and control products, made great contribution in fighting against "SARS", disaster relief and resisting globally spread H1N1. CNBG has tremendous scientific research strength, owning a biotec experts team including academician of Chinese Academy of Engineering, more than 70 new medicine examination and approval experts of National Food and Drug Administration, more than 10 comment experts of National Science Foundation Committee, and more than 170 experts with national government allowances.

CNBG is one of the first group of corporations with doctor and master degree-conferring qualification, owns 1 doctor site, 5 master sites and 5 post-doc sites. During 1989 to now, accumulatively over 700 master and 50 PHD students were trained here. CNBG has great achievement in scientific research, assumes responsibility of a lot of key projects of China 863 plan and "twelfth five" science support plan. There are more than 10 projects filled the blank in China and many production possessed intellectual property, 26 of them obtained the first and second prize of national science progress prize, more than 180 obtained provincial prize. In 2008, CNBG was named the first group of "innovative corporation" by National Scienceand Technology department, State Finance Authorities and Chinese National Federation of Trade Unions.

https://www.linkedin.com/company/china-national-biotec-group-company-limited

Chindex International, Inc. (NASDAQ: CHDX)

Vision

Chindex seeks to be Asia's premium standard-setting health system.

Mission

Our mission is to provide comprehensive, integrated healthcare in a uniquely warm, caring, patient service-oriented environment, while also delivering leading edge healthcare technologies, quality products and services to Asia with pride.

History

Chindex was founded in 1981 by Roberta Lipson and Elyse Beth Silverberg, two young American women who had moved to Beijing in the late 1970s, following re-establishment of diplomatic and commercial relations between the US and China, to establish a cross-cultural bridge in the early days of China's commercial opening to the West. Their vision was to bring all varieties of advanced Western healthcare technologies to Asia, and to provide excellent customer service to patients, buyers and suppliers alike. Their motivation went well beyond the bottom line, to improving the lives of people throughout Asia.

Chindex has undergone many transitions and adaptations since its founding, but has always stayed true to this vision of making a significant impact in the lives of Asians by providing the very best in premium standard-setting healthcare services and products.

Scope

Chindex's premium healthcare services are provided through its renowned world-class hospital system in Asia, United Family Healthcare (UFH). All UFH hospitals and clinics provide patients with the very best in premium healthcare in a highly personalized setting, with more attention paid to individuals by our expert staff than can often be found in medical facilities elsewhere in Asia or the West.

Beijing United Family Hospital (BJU), the first UFH hospital, commenced operations in 1997, and is still the only facility of its kind in Beijing. It provides comprehensive inpatient and outpatient medical care with internationally board-certified Western doctors as well as the most skilled Chinese doctors coming from Beijing's top hospitals. All medical and support staff at BJU are English-speaking and are among the most experienced medical teams found anywhere. UFH operations in Shanghai commenced services in 2004 with the opening of Shanghai United Family Hospital (SHU), providing an unmatched level of quality and service in that global city, generally including all the services, amenities, and capabilities found in Beijing. Since then, the UFH system has added over 19 comprehensive premium hospital and satellite clinic facilities throughout China and Mongolia, including the Beijing United Family Rehabilitation Hospital (BJURH), Tianjin United Family Hospital (TJU), United Family Intermed Hospital (UFIH) in Ulaanbaatar, United Family Guangzhou Clinic, the United Family New Hope Oncology Center in Beijing, and the soon to open Guangzhou United Family Hospital (GZU) and Qingdao United Family Hospital (QDU).

UFH hospitals all provide full-service premium inpatient and outpatient medical care, while their satellite clinics can provide personalized outpatient care in convenient locations for the communities they serve. Among the clinics in Beijing, the United Family New Hope Oncology Center, opened in 2011 gives China the first of its kind multidisciplinary team approach to treating cancer in a uniquely relaxed setting. The New Hope Center is China's first US LEED standard medical building located in a beautiful park-side setting. The relaxed environment and convenient care allows patients to focus on a better quality of life, while giving them access to world-class medical care through close collaboration with the Peking University Cancer Hospital and other international institutions.

Chindex is a recognized pioneer in the field of private healthcare services in Asia, and continues to introduce new paradigms in the industry. In 2005, Beijing United Family Hospital and Clinics was the first integrated health system in Asia to receive accreditation by the Joint Commission International (JCI), the worldwide leader in improving the quality of healthcare. UFH operations in Shanghai received similar accreditation in 2008, along with its entire system in 2011, placing UFH's multi-city healthcare network as the only one of its kind in China, and within an elite group of the world's best healthcare providers with the JCI 'Gold Seal of Approval' for healthcare quality and patient safety. The United Family managed International Division at Huashan Pudong Hospital in Shanghai marks China's first such cooperative service offering between China's leading public and premier private hospitals. China's first international-style fellowship training programs for primary care and emergency medicine doctors, its unique nurse training relationships with global partners, and China's only College of American Pathologists (CAP) quality accredited laboratory in Beijing mark but a few of UFH's pioneering hallmarks.

Chindex places paramount importance on serving as a good corporate citizen in every community in which it conducts business, complying with all applicable laws and regulations. Chindex requires honest and ethical conduct from all its employees. Chindex is also proud to have helped establish and be affiliated with The United Foundation for China's Health (UFCH), which develops model programs that provide access to innovative, multidisciplinary healthcare for vulnerable populations in China. Every year, Chindex provides services in kind to UFCH, equivalent to one percent of its United Family Healthcare (UFH) system's revenue, to help underserved populations receive life-changing healthcare.

http://www.chindex.com/intro/scope.html

China Shineway Pharmaceutical Group Limited (HKSE: 2877)

China Shineway Pharmaceutical Group Limited principally engages in the development, manufacture and sales of modern Chinese medicines. It is one of the "Top 100 pharmaceutical enterprises" and "Top 50 Chinese medicine enterprises" in China. The company's shares are listed on the Main Board of the Hong Kong Stock Exchange. China Shineway was ranked amongst the top 10 Chinese medicine manufacturers in 2004 based on comprehensive strength.

Products of China Shineway are marketed under our principal brands: "SHINEWAY" and "WU FU". "SHINEWAY" is recognized as China Famous Trademark by the Trademark Bureau of the State Administration for Industry and Commerce of the PRC, while "WU FU" is named as the Famous Trademark of Hebei Province. In 2003, China Shineway passed all the assessment of the national GMP standards. In 2004, Shineway Pharmaceutical Sales Co., Ltd. received the national GSP certificate. China Shineway was also the first traditional Chinese medicine enterprise which obtained the certificates of Quality Management (ISO 9001), Environmental Management Systems (IS0 14001) and Occupational Health and Safety Management System(OHSAS 18001), and received a combined certificate of International Standard Management System (IMS) from the British Standard Institute (BSI).

Targeting primarily on three rapidly growing medicine markets for the middle age, elderly and children, and anti-viral diseases, China Shineway has always focused its development of modern Chinese medicine product portfolios in prescription medicines characterized by three major dose forms - injection, soft capsule and granule which have strong competitive niches. Presently, China Shineway is the largest manufacturer of Qing Kai Ling Injection, Shen Mai Injection, and Wu Fu Xin Nao Qing Soft Capsule. China Shineway also has 11 State Protected Chinese Medicines, including Huo Xiang Zheng Qi Soft Capsule and Qing Kai Ling Soft Capsule. Wu Fu Xin Nao Qing Soft Capsule and Huo Xiang Zheng Qi Soft Capsule are also recognized as Green Standard Products by CCCMHPIE.

China Shineway utilizes modern manufacturing facilities, stringent operation management, and economies of scale to produce hi-tech dose forms of injections and soft capsules of modern Chinese medicines with prominent quality. China Shineway's extraction and injection production plants are named as the "Model Project for Advanced Technology Integration and Commercialization of High-Tech Automated Production Processes for Chinese Medicine" by the National Development and Reform Committee of the State.

China Shineway put great emphasis on the quality of raw materials - the Chinese herbs. Hence, the company has established dedicated field farms as its "green headquarter" for Chinese herbs at various pollution free herb-producing regions, such as Jilin, Shandong, Hebei, and Xinjiang, etc. At the same time, China Shineway integrates its know-how with the newest technologies such as finger-print chromatogram, CO2 extracting technology, micro-grinding etc. and extensively utilizes advanced equipment and foremost methodologies in areas such as dynamic counter-current extraction, integrated production processes and fully automated packaging. China Shineway also widely adopts computerized control technologies and has strictly administered GMP standards. All of the above enable China Shineway to achieve standardization of Chinese medicine production, modernization of Chinese medicine dose forms, standardization in quality assurance protocols and automation of production process, leading to high standards of safety, efficacy, stability and controllability in Chinese medicines. All products of China Shineway possess competitive advantages of "Three Minimums" (minimal dosage required, minimal toxicity, minimal side effect), "Three Effects" (highly effective, speedy and durable efficacy) and "Five Conveniences" (in production, transportation, consumption, carrying and storage). China Shineway modernizes Chinese medicines for modern life so that good Chinese medicines are no longer bitter.

The strength in research and development is a strong foundation for the business growth of China Shineway. Staffed with senior researchers including many post-doctorates, and equipped with state-of-the-art scientific research instruments, China Shineway employs a market driven approach with primary focus in modernizing Chinese medicines by applying the foremost technology as its research strategy. With primary targets at three core markets - medicines for the middle age and elderly, children, and anti-viral diseases, China Shineway's aggressively pursue in development and clinical trial of new medicines. By cooperates with renowned research institutions, colleges and universities, research institutes, China Shineway is able to maintain a highly efficient research process. In recent years, China Shineway has commenced large scales production of a few dozen of medicines, successfully developed eight new medicines of national standards and transformed six medicines based on traditional formulas. Currently there are 23 potential new medicines currently under research and clinical trials. Accordingly, China Shineway now owns a large product portfolios and product banks reserved for future growth.

Shineway has established an extensive network of distributors and a strong sales support team covering 30 provinces and municipal cities nationwide to promote China Shineway's products to target consumers. China Shineway now markets 15 products with annual sales over RMB 10 million, including Wu Fu Xin Nao Qing Soft Capsule, Shen Mai Injection and Qing Kai Ling Injection, each of which has annual sales over RMB 150 million.

Shineway has received hundreds of honors and awards including "The National Wu Yi Labor Certificate of Merit Enterprise" and "The National Advanced TCM Enterprise", etc. The Chairman and President of China Shineway, Mr. Li Zhenjiang, was named as "Outstanding Entrepreneur in the PRC Pharmaceutical Industry", and received "National Wu Yi Labour Award". Mr Li is entitled to enjoy special subsidies of the State Council and is elected as a representative of the 10th National People's Congress in 2003.

In the next five years period, China Shineway will continue its primary focus in the development, production and marketing of modern Chinese medicines and further enhances our brand. We will continue to put great emphasis on market-driven R&D, cost efficient and high quality manufacturing, strong point of sales support, and stringent management, as our core competence. We strive to enhance our premier brand name of Chinese medicines and becoming the most prominent modern Chinese medicine enterprise. It is our mission in leading modern Chinese medicine and promoting health industry.

http://www.shineway.com.hk/eng/about/profile.php

28/8/2020

2020 Interim Results

FINANCIAL HIGHLIGHTS

For the six months ended 30 June 2020, the operating results of the Group were as follows:

* Turnover amounted to RMB1,190,112,000, a decrease of 13.0% as compared to the corresponding period of last year;

* Gross profit margin was 73.6% as compared to 71.3% of the corresponding period of last year;

* Profit for the period amounted to RMB253,721,000, a decrease of 11.8% as compared to the corresponding period of last year;

* Earnings per share amounted to RMB33 cents, a decrease of 8.3% as compared to the corresponding period of last year;

* Declared interim dividend of RMB11 cents per share;

* Net assets per share amounted to RMB7.1 (equivalent to HKD7.8); and

* Net cash per share amounted to RMB4.6 (equivalent to HKD5.0).

http://media-shineway.todayir.com/2020082812240132539416143_en.pdf

China Traditional Chinese Medicine Co. Limited (HKG: 0570)

China Traditional Chinese Medicine Holdings Co., Ltd. ("China TCM") is the core platform established by Sinopharm Group for the traditional Chinese medicine segment. The Company (stock code: 00570.HK) is listed on the Main Board of the Hong Kong Stock Exchange. Headquartered in Foshan, Guangdong, the Company has nearly 15,000 employees and 96 subsidiaries (ended August 2019).

The Company has a complete industrial chain and integrates research, manufacturing and sales as a whole. It has more than 1000 patent medicine regulations (of which more than 140 regulations are included in National Essential Medicine List 2018), over 700 varieties of TCM formula granules and over 400 varieties of classic compound granules. The products have covered several major fields including Chinese patent medicine, herbal pieces, formula granules and chemical medicine.

China TCM brings together the essence of traditional Chinese medicine and spans a history of more than 400 years. It inherits the ancient pharmacies that have been opened since the Ming Dynasty, e.g. Liang Zhonghong Wax Pills Clinic, Fengliaoxing, Tongjitang and Yuen Kut Lam, owns 3 China time-honored brands, i.e. Fengliaoxing, Dezhong and Tongjitang, 5 China well-known trademarks, i.e. Xianling, Tongjitang, Xianling Gubao, Dezhong and TianJiang Pharmaceutical, 4 intangible cultural heritages, i.e. Tongjitang TCM Culture, Fengliaoxing Fengshi Dieda Medicinal Wines, Shaolin Dieda Zhitong Plaster and Yuen Kut Lam Kam Wo Tea, as well as 10 major national exclusive essential medicines, i.e. Xianling Gubao Capsule, Jingshu Granule, Fengshi Gutong Capsule, Qili Capsule, Runzao Zhiyang Capsule, Zaoren Anshen Capsule, Yupingfeng Granules, Biyankang Tablets, Carapacis Trionycis Bdus and Jinye Baidu Granules.

China TCM boasts high-quality brands and product resources and has won the deep trust of doctors and patients. The Company will undertake the mission of "inheriting the culture of Chinese medicine, promoting the essence of Chinese medicine and building up the health of human beings", devote itself to the development of four major industrial segments, i.e. Chinese herbal pieces, formula granules, modern Chinese patent medicine, and massive health industry, work with various circles to create a TCM platform worth RMB 30 billion and become a leader in the traditional Chinese medicine industry.

http://www.china-tcm.com.cn/en/company/president.aspx?nodecode=104003001

24/4/2020

Annual Report 2019

OVERVIEW

2019 is the second year of the Group's implementation of the strategy of "all-round construction of a sustainable, mutually synergistic, and jointly-developed TCM healthcare industry chain", and the geographical coverage of the TCM industry chain has achieved initial success, while its business continued to develop steadily, the Group also focuses on promoting collaborative management and improving quality and efficiency, which lays a solid foundation for sustainable development of the enterprise, and ensuring that the Group is stable and far-reaching in its transition to high-quality development.

During the Reporting Period, the Group's revenue was approximately RMB14,320,949,000, representing an increase of 27.2% over the approximately RMB11,258,941,000 for the same period of last year. This was mainly attributable to the steady growth of concentrated TCM granules and finished drugs business and the external sales of local TCM integrated operation. The concentrated TCM granules business contributed approximately RMB9,227,314,000, or 64.4% of total revenue. Revenue from the finished drugs business was approximately RMB3,504,656,000, representing 24.5% of total revenue. Revenue from the TCM decoction pieces business was approximately RMB1,296,953,000, representing 9.1% of total revenue. Revenue from the TCM healthcare complex business was approximately RMB89,661,000, representing 0.6% of total revenue. Revenue from the local TCM integrated operation was approximately RMB202,365,000, representing 1.4% of total revenue.

Gross profit was RMB8,575,788,000, representing an increase of 38.5% over the approximately RMB6,193,573,000 for the same period of last year. Gross profit margin was 59.9%, representing an increase of 4.9 percentage points as compared with 55.0% for the same period of last year. This was mainly due to the reduced extraction cost of some concentrated TCM granule varieties, and increased selling price of some products.

For more details see:

http://asia.blob.euroland.com/press-releases-attachments/1219735/HKEX-EPS_20200424_9250920-0.PDF

http://www.china-tcm.com.cn/en/invest/Notice.aspx?nodecode=104004002

Livzon Mabpharm

Livzon Mabpharm Inc. was founded in 2010 by Livzon Group and Joincare Pharmaceutical Group. Its main businesses cover R&D, tech transfer of bio-pharmaceutical products and antibody drugs with bio-innovative drugs as the core, and biosimilar drugs as the supplement. The Company has a world-class leadership team with first-class innovation and industrialization capabilities.ã

The company plans to apply for production for the first product (LZM003) in 2020, and after that, on average, at least one new product will apply for production every year, accelerating the R&D of the innovation medicines to make at least 2-3 new programs enter into the clinical phase each year, optimizing the European and American clinical report ability, improving the CAR-T R&D line, laying out the global innovation projects, expanding the independent production ability, to gradually achieve good business performance, and create substantial profits for shareholders and investors.

https://en.livzon.com.cn/intro/2.html

Mindray Medical International Limited (NYSE: MR)

VISION

Better healthcare for all.

MISSION

Advance medical technologies to make healthcare more accessible.

CORE VALUES

Align with our customers

Value and enrich our people

Be precise and practical

Always forge ahead

Founded in 1991, Mindray is one of the leading global providers of medical devices and solutions. Firmly committed to our mission of "advance medical technologies to make healthcare more accessible", we are dedicated to innovation in the fields of Patient Monitoring & Life Support, In-Vitro Diagnostics, and Medical Imaging System.

Mindray possesses a sound global R&D, marketing and service network. Inspired by the needs of our customers, we adopt advanced technologies and transform them into accessible innovation, bringing healthcare within reach. While improving the quality of care, we help reducing its cost, making it more accessible to a larger part of humanity.

Today, Mindray's products and services can be found in healthcare facilities in over 190 countries and regions. In China, Mindray's products and solutions can be found in nearly 110,000 medical institutions and 99% of Class A tertiary hospitals.

https://www.mindray.com/en/about.html

SciClone Pharmaceuticals, Inc (NASDAQ: SCLN)

At SciClone, our vision is by focusing on treatments of severe and specialized disease areas, we are dedicated to becoming a top-tier China-focused specialty pharmaceutical company with sustainable growth by working hard to win trust from our patients, respect from our customers and pride from our employees. Our vision serves as the framework for our roadmap and guides every aspect of our business. With the recent China healthcare reform, we believe we are in a unique position to drive new product access, built on more than 20+ years' experience of commercializing differentiated high quality medicines in the China market.

To achieve this goal, key elements of our corporate strategy include:

* Develop a portfolio of pharmaceutical/biotechnological products and medical devices with the highest quality in oncology, infectious and other disease areas, which can address significant unmet medical needs:

* Continue to build on the commercialization capabilities in China, with the team of experts skilled in field force deployment, medical & marketing as well as access strategy:

* Develop an organization and talent pool with global breadth and China depth, to attract the top elite with "Special Force" capability:

http://www.sciclone.com/Modules/aboutUs.aspx

SiBiono Gene-Tech Co. Ltd

Sibiono GeneTech Co. Ltd., Shenzhen (Sibiono), is the world's innovator and leader in gene therapy. It was opened at the Shenzhen High-tech Industrial Park in March 1998. In Oct 16, 2003, the innovative product Gendicine®, an adenovirus-based recombinant human p53 for injection (rAd-p53, Inj) was approved by the China Food & Drug Administration (SFDA) with the 'New Drug Certificate'. In Jan 20 and Jan 11. 2004, the 'Production Permit' and 'GMP Recognition' were effected respectively, making it he world's first marketable gene therapy new drug. For many years of hard work in biological gene industry, Sibiono finally made gene therapy clinically available a reality. This is all made possible by years of striving for innovative development, targeting at the promotion of human health.

Sibiono has a strong team of R&D, we took up the responsibility of 'National 973 Project', the 'Tenth 5-year National Major R&D Special Project' and numerous provincial and municipal biotechnological projects. Up to now, our Co. owns 6 invention patents, covering p53 adenovirus injection product itself, its production process, related engineered cells and its application in clinical oncology, basically covering gene therapy and the use of Gendicine®. More than 130 research papers were published in national and international scientific journals. Our Co. initiated the Country's first mass production of recombinant adenovirus-related technology and its quality control platforms, which can also be shared by other recombinant virus products. With the significant collaboration of our Co., we helped affirm the introduction of the 'Guideline for the production of human gene therapy research and quality control of related pharmaceutics'. The Guideline was publicized for application by the SFDA in March 2003, and approved by SFDA for announcement to the international biotechnology community in the journal: 'Biopharm International' in May 2004.

Recently, Sibiono is gradually restructuring our originally research-centered enterprise towards an agglomerate structure of R&D and marketing biopharmaceutical enterprise. With the new planning and development blueprint, we target at building a world class leading biopharmaceuticals, putting emphasis on production, management and series. A scientific panel of Academicians of the Chinese Academy of Sciences was set up. By making use of the existing platforms of experimental gene therapeutics and manufacturing practice with a distribution network, we actively invite potentially competitive gene therapy products under development for further refinement to marketable products. We now have a team of over 1000 specialists employing Gendicine®, in addition to the 300 oncologists from AAA Hospitals on the panel of clinical specialists, who are in charge of further investigation on cancer gene therapy. Our goal-orientated innovative development is coupled with accelerated resource allocation for generating a prominent brand product. We advocate full strength R&D in the extension of cancer treatment application and individualized cancer gene therapy center. We take advantage of the national/ provincial support of the biotechnology industry available to strive for a new round of prosperous development.

http://www.sibiono.com/en/company.aspx

Shanghai ChemPartner Co Ltd (NYSE: SHP)

ChemPartner is a global full-service life science CRO/CDMO with over 15 years of pharmaceutical research experience, evolved from the pure chemistry service provider, focusing on research innovation with global reach.

As more and more pharmas and biotech companies look for alliance partners to provide intellectual contributions and exceptional technical expertise, ChemPartner is uniquely positioned to not only be a CRO, but to be a true pharmaceutical alliance partner.

With a team of over 2000 experienced scientists, hundreds of western-trained pharmaceutical industry leaders, and experienced pharmaceutical executive leadership at the helm, ChemPartner is aligned and dedicated to technically and strategically accomplishing the research initiatives of pharmas and biotech companies worldwide.

https://www.chempartner.com/aboutus/

ShangPharma Corporation

Through our strategic investments and partnerships, ShangPharma Innovation is focused on filling the critical investment gap that exists for earliest-stage therapeutic breakthroughs.

Based in the San Francisco Bay Area, our experienced team of investors and scientists brings knowledge of diverse therapeutic areas, allowing us to act on opportunities that no one else sees. We leverage multidimensional relationships across the spectrum of biotech and pharma to identify promising healthcare discoveries - and then work side-by-side with scientific innovators to rapidly advance those ideas through key value-inflection points.

ShangPharma Innovation embraces a founder-centric approach that ensures entrepreneurs can remain actively involved in shaping their company's successes, all with the proactive and trusted support of our wide network of experts.

"Circle Pharma wouldn't be where we are today without ShangPharma, which has helped with nearly every aspect of our company's development. We've benefited not only from their capital investment, but also from their incubator services and guidance from their remarkably experienced EIRs."

-David J. Earp, J.D., Ph.D., President and CEO of Circle Pharma

https://www.spiivc.com/about/

Simcere Pharmaceutical Group (2096.HK)

Simcere Pharmaceutical Group is China's leading R&D-driven pharmaceutical company. It has been ranked amongst the top 100 pharmaceutical companies in China and in the top 10 of the most innovative pharmaceutical companies in China for several consecutive years. Simcere was the first Chinese biological and chemical pharmaceutical company to be listed on the New York Stock Exchange. The national key laboratory for translational medicine and innovative drugs has been approved by the Ministry of Science and Technology. We are striving to make new medicines available to our patients sooner.

2018

In 2018, Simcere Shanghai (Boston) Innovation Center was formally established.

The Simcere Dongyuan Biomedical Valley has new sites located in Jiangbei New Area and they are now in operation.

BiQi® (generic name: Montmorillonite Powder) passed the generic drug consistency evaluation.

Softan® (generic name: Rosuvastatin Calcium Tablets) passed the generic drug consistency evaluation.

http://en.simcere.com/index.php/Index/about_us

Sinovac Biotech Ltd. (NASDAQ: SVA)

Sinovac's history dates back to 1993 when its Chief Executive Officer Mr. Weidong Yin and the team at Tangshan Yian Biological Engineering Co. Ltd. engaged in the initial R&D activities that lead to the successful development of the Company's hepatitis A vaccine in 1999, which is the first inactivated hepatitis A vaccine developed by Chinese scientists. Over the past two decades, the Company has developed and commercialized six human-used vaccines and one animal vaccine, and advanced its R&D pipeline. The Company has achieved many significant development milestones that exemplify its core R&D competencies, inclusive of developing the first H1N1 vaccine in the world in 2009. Moreover, it has expanded its fully integrated platform with state-of-the-art research facilities, GMP certified manufacturing facilities, and a sales team with reach across China. The Company is currently developing a novel vaccine against enterovirus 71, causing the severe hand, foot and mouth disease (HFMD) among the children.

Sinovac's Key Milestones

Year Key Milestones

2014 Obtained license to conduct clinical trials of PPV in May

File IND for sIPV in October

2013 Filed new drug application and received filing acceptance from CFDA, and is under technical review by CDE.

Preliminary restults from Phase III clinical trial for EV71 vaccine show good efficacy, immunogenicity and safety.

2012 Initiate phase III clinical trial for EV71 vaccine

2011 File IND for PCV, PPV and rubella

Complete EV71 phase I and II clinical tirals with positive results and preparing for phase III clinical trial

Obtained production license for animal rabies vaccine

2010 Established Sinovac (Dalian) Vaccine Technology Co., Ltd.

Completed acquisition of Changping buildings and land

Submitted clinical trial application for mumps vaccine to SFDA

2009 Moved to NASDAQ Global Market

Granted production license for Panflu.1 and received orders for 12.49 million doses

Submitted clinical trial application to SFDA for EV71 vaccine

2005 Bilive and Anflu approved

2004 Acquisition of Tangshan Yi'An

Transfer to listing on AMEX

2003 Reverse merger with US OTCBB

2002 Launch of flagship product, Healive

2001 Sinovac Biotech founded in Beijing

http://www.sinovac.com/?optionid=452

22/4/2021

Sinovac Reports Unaudited Fourth Quarter 2020 Financial Results and Files 2020 Annual Report on Form 20-F

BEIJING--Sinovac Biotech Ltd. (NASDAQ: SVA) ("Sinovac" or the "Company"), a leading provider of biopharmaceutical products in China, has filed its 2020 annual report on Form 20-F with the U.S. Securities and Exchange Commission for the year ended December 31, 2020. The Company also reported its unaudited financial results for the fourth quarter ended December 31, 2020.

Fourth Quarter and Full Year 2020 Financial Summary

Sales for the fourth quarter of 2020 were $327.5 million, an increase from $81.1 million in the prior year period.

Sales in 2020 were $510.6 million, an increase from $246.1 million in the prior year.

Operating income for the fourth quarter increased by 583.7% from the prior year period due to higher sales.

Operating income in 2020 increased by 214.5% from the prior year period due to higher sales.

The Company posted $107.3 million of net income attributable to common shareholders, or $1.09 per basic and $0.96 per diluted share, in the fourth quarter of 2020, compared to net income attributable to common shareholders of $21.7 million, or $0.22 per basic and $0.20 per diluted share, in the prior year period.

The Company posted $104.4 million of net income attributable to common shareholders, or $1.06 per basic and $0.97 per diluted share, in 2020, compared to net income attributable to common shareholders of $39.8 million, or $0.42 per basic and $0.41 per diluted share, in the prior year.

Mr. Weidong Yin, Chairman, President, and CEO of Sinovac, commented, "Sinovac experienced an exceptionally strong year in 2020. Despite the unprecedented COVID-19 pandemic, we are pleased with our record financial performance both for the fourth quarter and full fiscal year. We moved quickly to develop an inactivated COVID-19 vaccine, also known as CoronaVac, within a year's time and without having to sacrifice product quality."

"We have built production facilities with an annual production capacity of 2 billion doses. At this time, over 200 million doses of our COVID-19 vaccine have been delivered to different countries to support vaccine rollout, and millions of people around the globe have been administered our vaccine. We always strive to achieve low incident rates when developing vaccines, and we are happy to see CoronaVac's strong performance in the largest real world study in Chile, providing solid, real-life evidence that our vaccine helps to reduce hospitalized cases, ICU admissions, and fatal cases. Our overarching goal is to deliver a safe, effective, and accessible vaccine to the world."

Mr. Yin added, "As we worked to develop our COVID-19 vaccine, Sinovac also achieved good development progress with its other vaccine products as well. Two of our products, QIV and PPV-23, were granted market authorization in China in 2020, and our existing business segments continued to grow, despite a reduction in vaccination activities in the first half of the year due to the COVID-19 outbreak and lockdown policy."

Pipeline Development

COVID-19 Vaccine - The Company initiated the development of an inactivated vaccine against COVID-19 (named CoronaVac) on January 28, 2020. The phase I and II human studies on healthy adults aged 18 to 59 and elderly adults aged 60 and above were conducted in China and enrolled 144 participants in the phase I trial and 600 participants in the phase II trial, with 743 participants receiving at least one dose of investigational product. Results from the randomized, double-blind, placebo-controlled phase I/II clinical trial on safety, tolerability and immunogenicity of CoronaVac were published in The Lancet Infectious Diseases on November 17, 2020.

Since September 2020, the Company made rolling submission to China's National Medical Products Administration (NMPA), which carried out rolling reviews when the submissions were made. NMPA granted a conditional marketing authorization (CMA) to Sinovac for CoronaVac in individuals aged 18 and above on February 5, 2021. As of March 31, 2021, CoronaVac has been granted either emergency approval or conditional marketing authorization by over 30 countries or regions.

Sinovac completed its phase I/II trial on pediatric populations aged 3 to 17 years old. 28 days after second dose, both the middle-dose and low-dose were well tolerated, and the seroconversaion rates were 96.77% and 100%, respectively. The pre-print of the publication named Safety, Tolerability and Immunogenicity of an Inactivated SARS-CoV-2 Vaccine (CoronaVac) in Healthy Children and Adolescents: A Randomised, Double-Blind, and Placebo-Controlled, Phase 1/2 Clinical Trial is available at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3820545.

Sabin Inactivated Polio vaccine (sIPV) - The Company submitted an application to NMPA for the product license of sIPV in January 2019. The Company expects the license to be issued in mid-2021.

Unaudited Financial Results for the Fourth Quarter of 2020

Sales for the fourth quarter of 2020 were $327.5 million, an increase from $81.1 million in the prior year period. The increase was due to higher sales of the Company's influenza products, including the newly launched QIV, and sales of CoronaVac.

Gross profit in the fourth quarter of 2020 was $283.9 million, an increase from $68.9 million in the prior year period. Gross margin was 86.7%, compared to 84.9% in the prior year period. The increase of gross margin was due to a change in sales mix in 2020.

Selling, general and administrative expenses in the fourth quarter of 2020 were $83.1 million, compared to $33.3 million in the prior year period. The increase was mainly due to higher sales and increased marketing dedicated to revenue growth.

R&D expenses in the fourth quarter of 2020 were $2.7 million in 2020, compared to $7.8 million in the prior year period.

Net income in the fourth quarter of 2020 was $172.7 million, compared to $32.8 million in the prior year period, due to an increase in sales.

Net income attributable to common shareholders was $107.3 million, or $1.09 per basic and $0.96 per diluted share, in the fourth quarter of 2020, compared to $21.7 million, or $0.22 per basic and $0.20 per diluted share, in the prior year period.

As the Company announced on February 22, 2019, the Company's board of directors determined that certain shareholders became "Acquiring Persons," as defined in the Company's Rights Agreement ("Rights Agreement"), and a "Trigger Event" occurred under the Rights Agreement. As a result, the Company issued new common and preferred shares of Sinovac. Without the effect of implementing the Rights Agreement and the newly-issued common and preferred shares, basic and diluted earnings per share for the fourth quarter of 2020 would be $1.53 and $1.27, respectively.

Non-GAAP adjusted EBITDA was $198.9 million in the fourth quarter of 2020, compared to $30.8 million in the prior year period. Non-GAAP net income was $175.3 million in the fourth quarter of 2020, compared to $34.0 million in the prior year period. Non-GAAP diluted earnings per share in the fourth quarter of 2020 was $1.02, compared to earnings of $0.21 per share in the prior year period. Non-GAAP diluted earnings per share in the fourth quarter of 2020, excluding the implementation of the Rights Agreement and the newly-issued common and preferred shares, would be $1.36. Reconciliations of non-GAAP measures to the nearest comparable GAAP measures are included at the end of this earnings announcement.

The Company's fourth quarter 2020 financial statements are prepared and presented in accordance with U.S. GAAP. However, they have not been audited or reviewed by the Company's independent registered accounting firm.

Financial Results for the Twelve Months Ended December 31, 2020

Sales in 2020 were $510.6 million, an increase from $246.1 million in the prior year. The increase was due to higher sales of the Company's influenza products, including the newly launched QIV, and sales of CoronaVac.

Gross profit in 2020 was $443.4 million, compared to gross profit of $213.6 million in the prior year. Gross margin was 86.8%, which is the same compared to the prior year.

Selling, general and administrative expenses in 2020 were $176.5 million, compared to $121.5 million in the prior year. The increase was mainly due to higher sales and increased marketing dedicated to revenue growth.

R&D expenses in 2020 were $48.8 million, compared to $24.3 million in the prior year. The Company continued to invest in the advancement of pipeline vaccines, including sIPV and COVID-19 vaccines.

Net income in 2020 was $185.2 million, compared to $65.2 million in the prior year. Net income increased primarily due to increased sales.

Net income attributable to common shareholders was $104.4 million, or $1.06 per basic and $0.97 per diluted share, compared to net income attributable to common shareholders of $39.8 million, or $0.42 per basic and $0.41 per diluted share, in the prior year.

Excluding the implementation of the Rights Agreement, as described above, and the newly-issued common and preferred shares, basic and diluted earnings per share for 2020 would be $1.55 and $1.29, respectively.

Non-GAAP adjusted EBITDA was $229.9 million in 2020, compared to $76.4 million in the prior year. Non-GAAP net income in 2020 was $197.1 million in 2020, compared to $68.5 million in the prior year. Non-GAAP diluted earnings per share in 2020 was $1.03, compared to earnings of $0.43 per share in the prior year. Non-GAAP diluted earnings per share in 2020, excluding the implementation of the Rights Agreement and the newly-issued common and preferred shares, would be $1.45 per share. Reconciliations of non-GAAP measures to the nearest comparable GAAP measures are included at the end of this earnings announcement.

As of December 31, 2020, cash and cash equivalents totaled $1,041.0 million, compared to $152.7 million as of December 31, 2019. In 2020, net cash provided by operating activities was $479.3 million, net cash used in investing activities was $204.8 million, and net cash provided by financing activities was $592.6 million, including proceeds of $541.0 million from a subsidiary's financing, loan proceeds of $33.2 million, and loan repayments of $6.0 million. As of December 31, 2020, the Company had $32.9 in bank loans due within one year. The Company expects that its current cash position will be able to support its operations for at least the next 12 months.

Legal Proceedings

As previously disclosed by the Company, on March 13, 2018, 1Globe Capital LLC ("1Globe") filed a complaint against the Company in the Antigua Court. The trial of the matter took place from December 3 to 5, 2018. On December 19, 2018, the Antigua judge handed down his judgment (the "Antigua Judgment"), finding the Company fully in favor, dismissing 1Globe's claim and declaring that the Rights Agreement was validly adopted as a matter of Antigua law. On January 29, 2019, 1Globe filed a Notice of Appeal against the Antigua Judgment. On March 4, 2019, 1Globe filed an application for urgent interim relief, seeking an injunction to prevent the Company from continuing to implement its Rights Agreement until the resolution of the appeal. This application was heard on April 4, 2019, at which the Court of Appeal issued an order restraining the Company from operating the Rights Agreement in any way that affects 1Globe's rights or shareholding or otherwise distributing the exchange shares to the Company's shareholders who did not trigger the Rights Plan until after the determination of the appeal (the "Exchange Shares"). 1Globe's appeal against the Antigua Judgment was heard on September 18, 2019, and the appeal decision is now pending.

As previously disclosed, on March 5, 2018, the Company filed a lawsuit in the Court of Chancery of the State of Delaware seeking a determination on whether 1Globe, the Chiang Li Family, OrbiMed Advisors, LLC, and certain other shareholders of the Company had triggered the Rights Agreement. On April 12, 2018, 1Globe filed an amended answer to the Company's complaint, counterclaims, and a third-party complaint against the Company and Mr. Weidong Yin alleging, among other allegations, that the Rights Agreement is not valid. On March 6, 2019, the Delaware Chancery Court entered a status quo order, providing that the Company not distribute any of the Exchange Shares to the Company's shareholders who did not trigger the Rights Plan until the final disposition of the pending Delaware litigation or further order of the Court. On April 8, 2019, the Delaware Chancery Court stated that the Delaware litigation was pending the outcome of 1Globe's appeal of the Antigua Judgment.

Separately, Heng Ren Investments LP ("Heng Ren") filed suits against Sinovac and Weidong Yin on May 31, 2019, in Massachusetts state court, for alleged breach of fiduciary duties and wrongful equity dilution. Sinovac moved the matter from the state court to the United States District Court for the District of Massachusetts. Heng Ren alleged that Mr. Yin breached fiduciary duties owed to minority shareholders, that Sinovac aided and abetted breaches of fiduciary duties, and that both Sinovac and Mr. Yin engaged in wrongful equity dilution. Heng Ren requested damages, attorney fees, and prejudgment interest. On September 14, 2020, Sinovac Antigua filed a motion to dismiss Heng Ren's claims. The court's decision on this motion is still pending.

Status of Exchange Shares and Trading in the Company's Shares

As a result of the pending legal proceedings described above, the Exchange Shares are expected to remain in a trust for the benefit of the Company's shareholders who did not trigger the Rights Plan until, at least, the conclusion of the appeal against the Antigua Judgement and the final disposition of the Delaware litigation or further order of the Delaware Chancery Court. The Exchange Shares remain issued and outstanding. The Nasdaq Stock Market LLC implemented a halt on trading of the Company's common shares at the time the Exchange Shares were issued to the trust. The Company is currently unable to estimate when trading will resume, or whether Nasdaq will take any additional action in regards to the trading of the Company's common shares.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. Sinovac's product portfolio includes vaccines against COVID-19, enterovirus71 (EV71), hepatitis A and B, seasonal influenza, 23-Valent pneumococcal polysaccharide ("PPV"), H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella vaccine and mumps. Sinovac's COVID-19 vaccine, CoronaVac, has been granted emergency use approval or conditional marketing authorization by over 30 countries or region worldwide. Healive, the hepatitis A vaccine manufactured by the Company, has passed the assessment under WHO prequalification procedures in 2017. The EV71 vaccine, an innovative vaccine developed by Sinovac against hand foot and mouth disease caused by EV71, was commercialized in China in 2016. In 2009, Sinovac was the first company worldwide to receive approval for its H1N1 influenza vaccine, which it has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government stockpiling program. The Company is developing a number of new products including a Sabin-strain inactivated polio vaccine and combined vaccines. Sinovac primarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company is seeking market authorization of its products in over 30 countries outside of China. For more information please see the Company's website at www.sinovac.com.

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. In particular, the outcome of any litigation is uncertain, and the Company cannot predict the potential results of the litigation it filed or filed against it by others. Additionally, the triggering of a shareholder rights plan is nearly unprecedented, and the Company cannot predict the impact on the Company or its stock price as a result of the trigger of the rights plan.

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with GAAP, Sinovac uses the following non-GAAP financial measures: non-GAAP adjusted EBITDA, non-GAAP net income and non-GAAP diluted EPS. For more information on these non-GAAP financial measures, please refer to the table captioned "Reconciliations of non-GAAP Measures to the Nearest Comparable GAAP Measures" in this results announcement.

Sinovac believes that non-GAAP adjusted EBITDA, non-GAAP net income and non-GAAP diluted EPS help identify underlying trends in its business that could otherwise be distorted by the effect of certain income or expenses that Sinovac includes in net income and diluted EPS. Sinovac believes that non-GAAP adjusted EBITDA, non-GAAP net income and non-GAAP diluted EPS provide useful information about its core operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Non-GAAP adjusted EBITDA, non-GAAP net income and non-GAAP diluted EPS should not be considered in isolation or construed as an alternative to income from operations, net income, diluted EPS, or any other measure of performance or as an indicator of Sinovac's operating performance. These non-GAAP financial measures 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 our data.

Non-GAAP adjusted EBITDA represents net income and excludes interest and financing expenses, interest income, net other income and income tax benefit (expenses), and certain non-cash expenses, consisting of share-based compensation expenses, amortization and depreciation that Sinovac does not believe are reflective of the core operating performance during the periods presented.

Non-GAAP net income represents net income before share-based compensation expenses and foreign exchange gain or loss.

Non-GAAP diluted EPS represents non-GAAP net income attributable to common shareholders divided by the weighted average number of shares outstanding during the periods on a diluted basis, including accounting for the effect of the assumed conversion of options.

SINOVAC BIOTECH LTD.

Consolidated Balance sheets

As of December 31, 2020 and December 31, 2019

(Expressed in thousands of U.S. Dollars)

December 31, 2020 December 31, 2019

Current assets

Cash and cash equivalents $ 1,041,008 $ 152,718

Restricted cash 9,196 3,160

Short-term investment 135,248 50,274

Accounts receivable - net 253,487 113,736

Inventories 105,813 27,846

Prepaid expenses and deposits 15,541 1,873

Total current assets 1,560,293 349,607

Property, plant and equipment - net 200,371 74,310

Prepaid land lease payments 8,247 7,965

Intangible assets - net 1,474 -

Long-term prepaid expenses 25 23

Prepayments for acquisition of equipment 20,192 2,390

Deferred tax assets 26,891 11,368

Right-of-use assets 83,833 6,636

Total assets 1,901,326 452,299

Current liabilities

Short-term bank loans and current portion of long-term bank loans 32,941 5,934

Loan from a non-controlling shareholder 6,155 6,607

Accounts payable and accrued liabilities 211,428 58,890

Income tax payable 35,262 1,904

Deferred revenue 364,005 5,462

Deferred government grants 15,159 2,738

Dividend payable 11,143 5,128

Lease liability 3,517 536

Total current liabilities 679,610 87,199

Deferred government grants 4,229 3,986

Long-term bank loans 2,155 -

Deferred tax liability 2,724 -

Loan from a non-controlling shareholder 6,130 1,436

Lease liability 85,488 5,758

Other non-current liabilities 865 1,725

Total long-term liabilities 101,591 12,905

Total liabilities 781,201 100,104

Commitments and contingencies

Equity

Preferred stock 15 15

Common stock 99 99

Additional paid-in capital 538,924 207,962

Subscriptions receivable (7,109) -

Accumulated other comprehensive income (loss) 19,925 (4,321)

Statutory surplus reserves 50,377 33,533

Accumulated earnings 144,241 56,731

Total shareholders' equity 746,472 294,019

Non-controlling interests 373,653 58,176

Total equity 1,120,125 352,195

Total liabilities and equity $ 1,901,326 $ 452,299

SINOVAC BIOTECH LTD.

Consolidated Statements of Comprehensive Income

For the three and twelve months ended December 31, 2020 and 2019

(Expressed in thousands of U.S. Dollars, except for numbers of shares and per share data)

Three months ended December 31 For the year ended December 31

2020 2019 2020 2019

(Unaudited) (Unaudited)

Sales $ 327,454 $ 81,111 $ 510,624 $ 246,053

Cost of sales 43,525 $ 12,251 $ 67,180 $ 32,469

Gross profit 283,929 68,860 443,444 213,584

Selling, general and administrative expenses 83,051 33,299 176,534 121,468

Provision (recovery) for doubtful accounts 1,191 (445) 2,640 (306)

Research and development expenses 2,661 7,758 48,760 24,254

Loss on disposal of property, plant and equipment 115 64 163 294

Government grants recognized in income (10) (619) (297) (688)

Total operating expenses 87,008 40,057 227,800 145,022

Operating income 196,921 28,803 215,644 68,562

Interest and financing expenses (328) (159) (1,453) (650)

Interest income 402 594 1,930 1,996

Other income, net 1,371 296 496 912

Income before income taxes 198,366 29,534 216,617 70,820

Income tax benefit (expense) (25,665) 3,286 (31,438) (5,605)

Net Income 172,701 32,820 185,179 65,215

Less: Income attributable to non-controlling interests (63,871) (9,625) (74,810) (20,286)

Net income attributable to shareholders of Sinovac 108,830 23,195 110,369 44,929

Preferred stock dividends (1,512) (1,512) (6,015) (5,128)

Net income attributable to common shareholders of Sinovac 107,318 21,683 104,354 39,801

Net income 172,701 32,820 185,179 65,215

Other comprehensive income, net of tax of nil

Foreign currency translation adjustments 24,703 6,467 32,328 (2,827)

Comprehensive income 197,404 39,287 217,507 62,388

Less: comprehensive income attributable to non-controlling interests (70,213) (10,821) (82,892) (19,681)

Comprehensive income attributable to shareholders of Sinovac $ 127,191 28,466 $ 134,615 42,707

Earnings per share

Basic net income per share 1.09 0.22 1.06 0.42

Diluted net income per share 0.96 0.20 0.97 0.41

Weighted average number of shares of common stock outstanding

Basic 98,897,607 98,903,406 98,897,345 94,876,946

Diluted 113,662,163 113,715,690 113,662,362 109,691,959

SINOVAC BIOTECH LTD.

Consolidated Statements of Cash Flows

For the three and twelve months ended December 31, 2020 and 2019

(Expressed in thousands of U.S. Dollars)

Three months ended For the year ended

December 31 December 31

2020 2019 2020 2019

(Unaudited) (Unaudited)

Cash flows provided by operating activities

Net income 172,701 32,820 185,179 65,215

Adjustments to reconcile net income to net cash provided by operating activities:

Deferred income taxes (6,276) (2,969) (11,227) (5,685)

Share-based compensation 751 750 10,203 3,003

Inventory provision 5,170 317 5,816 651

Provision (recovery) for doubtful accounts 1,191 (445) 2,640 (306)

Loss on disposal of property, plant and equipment 115 64 163 294

Depreciation of property, plant and equipment and amortization of licenses 1,141 1,146 3,693 4,579

Amortization of the prepaid land lease payments 62 58 238 238

Amortization of Intanglible assets 55 - 106 -

Government grants recognized in income (10) (619) (297) (688)

Changes in:

Accounts receivable (74,734) (5,513) (128,016) (40,191)

Inventories (49,773) 2,239 (77,738) (3,651)

Income tax payable 24,183 (3,582) 31,804 4,904

Prepaid expenses and deposits (4,719) 1,385 (13,151) 2,645

Deferred revenue 337,593 1,769 339,329 2,521

Accounts payable and accrued liabilities 74,855 35 131,777 6,793

Other non-current liablitites (1,210) (1,004) (1,210) (1,248)

Net cash provided by operating activities 481,095 26,451 479,309 39,074

Cash flows provided by financing activities

Proceeds from bank loans 5,734 2,109 33,227 2,109

Repayments of bank loans (2,238) 22 (6,041) (3,305)

Proceeds from issuance of common stock,net of share issuance costs 1,999 (3) 1,999 -

Proceeds from subsidiary's financing 526,311 - 541,043 -

Government grants received 4,021 625 16,521 1,476

Loan from a non-controlling shareholder 10,162 - 10,162 1,457

Repayments of loan from a non-controlling shareholder (4,345) - (4,345) -

Net cash provided by financing activities 541,644 2,753 592,566 1,737

Cash flows used in investing activities

Purchase of short-term investments (125,895) (49,208) (201,688) (50,665)

Proceeds from redemption of short-term investments 31,609 18,818 124,562 18,818

Proceeds from disposal of equipment 1 9 20 21

Acquisition of property, plant and equipment (57,701) (1,915) (127,486) (10,628)

Acquisition of intangible assets (164) - (164) -

Net cash used in investing activities (152,150) (32,296) (204,756) (42,454)

Effect of exchange rate changes on cash and cash equivalents and restricted cash 25,902 2,273 27,207 (649)

Increase (decrease) in cash and cash equivalents and restricted cash 896,491 (819) 894,326 (2,292)

Cash and cash equivalents and restricted cash, beginning of year 153,713 156,697 155,878 158,170

Cash and cash equivalents and restricted cash, end of year 1,050,204 155,878 1,050,204 155,878

SINOVAC BIOTECH LTD.

Reconciliations of Non-GAAP measures to the nearest comparable GAAP measures

For the three and twelve months ended December 31, 2020 and 2019

(Expressed in thousands of U.S. Dollars, except for numbers of shares and per share data)

Three months ended December 31 For the year ended December 31

2020 2019 2020 2019

(Unaudited) (Unaudited) (Unaudited) (Unaudited)

Net income 172,701 32,820 185,179 65,215

Adjustments:

Share-based compensation 751 750 10,203 3,003

Depreciation and amortization 1,258 1,204 4,037 4,817

Interest and financing expenses, net of interest income (74) (435) (477) (1,346)

Net other income (1,371) (296) (496) (912)

Income tax expense (benefit) 25,665 (3,286) 31,438 5,605

Non-GAAP adjusted EBITDA 198,930 30,757 229,884 76,382

Net income 172,701 32,820 185,179 65,215

Add: Foreign exchange loss 1,805 470 1,698 306

Add: Share-based compensation 751 750 10,203 3,003

Non-GAAP net income 175,257 34,040 197,080 68,524

Net income attributable to common shareholders of Sinovac 107,318 21,683 104,354 39,801

Add: Preferred stock dividends 1,512 1,512 6,015 5,128

Net income attributable to common shareholders of Sinovac for computing diluted earnings per share 108,830 23,195 110,369 44,929

Add: Non-GAAP adjustments to net income 6,379 666 7,365 2,109

Non-GAAP net income attributable to common shareholders of Sinovac for computing non-GAAP diluted earnings per share 115,209 23,861 117,734 47,038

Weighted average number of shares on a diluted basis 113,662,163 113,715,690 113,662,362 109,691,959

Diluted earnings per share 0.96 0.20 0.97 0.41

Add: Non-GAAP adjustments to net income per share 0.06 0.01 0.06 0.02

Non-GAAP Diluted earnings per share 1.02 0.21 1.03 0.43

http://www.sinovac.com/?optionid=754&auto_id=929

Skystar Bio-Pharmaceutical Company (OTCMKTS: SKBI)

Overview

Headquartered in Xi'an, China, Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) is one of China's leading biotechnology companies that engage in the research, development, manufacturing, marketing, and sale of veterinary healthcare and medical care products in the People's Republic of China.

https://www.linkedin.com/company/skystar-bio-pharmaceutical-company/about/

WuXi AppTec (SH: 603259)

About Us

Established in December 2000, WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients. As an innovation-driven and customer-focused company, WuXi AppTec helps our partners improve the productivity of advancing healthcare products through cost-effective and efficient solutions. With industry-leading capabilities such as R&D and manufacturing for small molecule drugs, cell and gene therapies, and testing for medical devices, WuXi AppTec's open-access platform is enabling more than 3,600 collaborators from over 30 countries to improve the health of those in need - and to fulfill our dream that "every drug can be made and every disease can be treated."

Our History

WuXi AppTec developed from a laboratory of 7000 square feet to 28 sites worldwide. From 4 co-founders to more than 19,000 employees globally, WuXi today provides a broad portfolio of R&D and manufacturing services that support over 3,600 collaborative partners worldwide.

https://www.wuxiapptec.com/about/overview

29/4/2021

WuXi AppTec Reports Record First-Quarter 2021 Results

2021/04/29

Revenue Up 55.3% Year-Over-Year to RMB4.95 Billion

Net Profit Attributable to Owners of the Company Up 394.9% Year-over-Year to RMB1.50 Billion

Diluted EPS Up 369.2% Year-Over-Year to RMB0.61

Adjusted Non-IFRS Net Profit Attributable to Owners of the Company Up 63.6% Year-Over-Year to RMB943 Million

Adjusted Diluted Non-IFRS EPS Up 52.0% Year-Over-Year to RMB0.38[1]

[1] In the three months ended March 31, 2021 and three months ended March 31, 2020, we had a fully-diluted weighted average share count of 2,466,120,614 and 2,291,373,043 ordinary shares, respectively

First-Quarter 2021 Financial Highlights

- Revenue soared 55.3% year-over-year to RMB4.95 billion on the back of robust demand brought on by strengthened customer market penetration and accelerated customer expansion. Revenue up 4.9% quarter-over-quarter continued our strong quarterly-based growth track record in the past twelve quarters. China-based laboratories and contract development and manufacturing organization (CDMO) facilities maintained high utilization to meet customer demands. Clinical research services experienced a strong rebound, but headwinds remain strong for US-based laboratory services which has continued to be negatively impacted by the COVID-19 pandemic.

·China-based laboratory services revenue grew 49.0% to RMB2.56 billion.

·CDMO services revenue grew 100.0% to RMB1.70 billion.

·U.S.-based laboratory services declined 15.3% to RMB329 million.

·Clinical research and other contract research organization (CRO) services revenue grew 56.8% to RMB359 million.

- IFRS gross profit increased 67.6% year-over-year to RMB1.84 billion. Gross profit margin was 37.1% vs 34.4% in first-quarter 2020.[2]

- Adjusted Non-IFRS gross profit increased 58.3% year-over-year to RMB1.94 billion. Adjusted Non-IFRS gross margin was 39.1% vs 38.4% in first-quarter 2020.

- EBITDA increased 180.2% year-over-year to RMB2.09 billion.

- Adjusted EBITDA increased 46.1% year-over-year to RMB1.51 billion.

- Net profit attributable to owners of the Company increased 394.9% year-over-year to RMB1.50 billion. Our gain from venture investment portfolios and loss from associates totally contributed a net gain of RMB1.02 billion, due primarily to the stock price increase of certain listed companies and some portfolio companies successfully went IPO during the Reporting Period that led to an increase in their fair market value and an RMB4 million loss from our joint ventures. Conversely, in the first-quarter 2020, we reported a RMB171 million fair value loss from investment portfolios and associates, and a RMB7 million loss from our joint ventures.

- Adjusted Non-IFRS net profit attributable to owners of the Company increased 63.6% year-over-year to RMB943 million.

- Diluted EPS increased 369.2% year-over-year to RMB0.61, while adjusted diluted non-IFRS EPS increased by 52.0% year-over-year to RMB0.38.

[2] If prepared under Accounting Standard for Business Enterprises of PRC, 2021 the gross profit grew 67.2% year-over-year to RMB1.84 billion. Gross profit margin was 37.1%.

First-Quarter 2021 Business Highlights

- We continued to relentlessly execute our strategy of enabling customers to innovate and accelerate drug discovery and development by leveraging our global integrated R&D services platform. We added over 360 new customers in the first-quarter of 2021, giving us a total of more than 4,400 active customers.

·Our global platform continued to enable innovation worldwide. During the Reporting Period, our overseas customers contributed RMB3.62 billion in revenues, increasing 49.5% year-over-year. Our China-based customers contributed RMB1.33 billion in revenues, increasing 73.9% year-over-year.

·We continued to expand our customer base and retain existing customers. During the Reporting Period, our existing customers contributed RMB4.75 billion in revenue, representing a year-over-year growth of 54.3%. Our newly added customers in the first-quarter of 2021 contributed RMB197 million in revenue.

We aim to simultaneously increase service penetration in large global pharmaceutical companies, whilst increasing the size of our "long-tail" customer base. This strategy has continued to be successful. During the Reporting Period, the top 20 global pharmaceutical companies contributed RMB1.58 billion in revenue, increasing 66.6% year-over-year. Our "long-tail" and other customers contributed RMB3.37 billion in revenue, growing 50.5% year-over-year.

·We continued to increase customer conversion and deliver synergies across our entire platform. During the Reporting Period, customers using services from more than one of our business units contributed RMB3.94 billion in revenue, growing 58.4% year-over-year.

China-Based Laboratory Services: robust growth in all business lines on the back of strengthened customer market penetration and expansion

- Chemistry FFS (Fee for Services) achieved over 58% revenue growth while concurrently transferring multiple new projects to our CDMO segment.

- Through comprehensive integration of our DNA-encoded library (DEL), protein production and structure-based drug design capabilities, our Target-to-Hit platform(HitS) has enabled over 600 customers globally, and diverted multiple, incremental business opportunities to our downstream business units.

- As of March 31, 2021, our success-based drug discovery service unit had cumulatively submitted 120 IND filings with the National Medical Products Administration (NMPA) and obtained 91 Clinical Trial Applications (CTAs) and had two projects in Phase III clinical trials.

- Safety assessment / toxicology services revenue grew rapidly at approximately 114% due to strong demand and increased animal room capacity.

- We signed over 40 integrated WIND packages (the WuXi IND program or "WIND") in the first-quarter of 2021.

CDMO Services: first-quarter 2021 growth doubled due to core business model execution and capacity increase

We added 169 new molecules into our small molecule CDMO pipeline, including 11 new projects that were transferred from clients' facilities or other CDMOs. We provided CDMO services to over 1,340 active projects, including 46 projects in Phase III clinical trials and 28 projects in commercial manufacturing.

- In the first-quarter 2021, new construction at Taixing city has begun and will provide a large scale API and oligonucleotide and peptide API production once complete. Taixing site is designed to provide over 140,000 square meters of manufacturing space in 2022.

- The drug product manufacturing facility in Wuxi city slated to begin operation in 2021 will not only improve the development and production capacity of solid dosages, but will also be capable of sterile drug product development, clinical trial material production and commercial scale manufacturing.

- The high-potency API manufacturing facility, large-scale oligonucleotide API manufacturing facility and large-scale peptide API manufacturing facility located in Changzhou city began operations, supporting process R&D and small molecule manufacturing, as well as oligonucleotide and peptide APIs from preclinical to commercial.

US-based Laboratory Services: Continued development of a comprehensive US-based cell and gene therapy CTDMO platform, with the integration of OXGENE

Our cell and gene therapy Contract Testing Development and Manufacturing Organization (CTDMO) services enabled customers globally. During the Reporting Period:

·Our laboratories and facilities in the U.S. provided services for 36 clinical stage projects, including 22 projects in Phase I clinical trials and 14 projects in Phase II/III clinical trials.

·The current quarter revenue decline in our U.S. cell and gene therapy business was mainly due to delay in approval of commercial projects and impacted by the pandemic. Some late stage/commercial clients also did not pass clinical trials; however, we are building up our new projects pipeline through significantly enhanced viral vector platforms and through integration with the newly acquired new OXGENE platforms. We expect strong rebound in revenue growth in the second half of 2021.

·In our Medical Device Testing business, the impact of the pandemic continued first-quarter. The delay of elective/non-essential surgeries impacted key projects caused shortfall of the testing demand. We are actively working and supplementing with new opportunities, particularly the EU Medical Device Regulation (MDR) to grow the medical device testing business in the second half of 2021.

Clinical Research CRO/SMO Services: strong rebound in revenue driven by focused backlog execution and timely project delivery

- Our clinical research services continued to enable customers globally during the Reporting Period:

·Clinical development services (CDS) backlog increased approximately 56% on a year-over-year basis and our site management organization (SMO) backlog increased approximately 47% on a year-over-year basis.

·China based clinical research services[3] delivered strong growth in the first-quarter, at 64.7% year over year, while US based clinical trial services continued to suffer from the impact of the pandemic impact.

·CDS team provided services to more than 130 projects for our clients in China and the U.S. and completed registration trials for 3 products.

·Our SMO team maintained its No.1 leadership position in China, with more than 3,500 clinical research coordinators stationed in 150 cities providing services in ~1,000 hospitals. The team assisted in the market approval of 5 customer products that were approved by NMPA in the first quarter in 2021.

[3] China based clinical research services included CDS China and SMO businesses.

Management Comments

Dr. Ge Li, Chairman and CEO of WuXi AppTec, said, "Another record quarter has once again demonstrated the strength and resilience of our platform. We continue to flawlessly execute our business model, increasing customer penetration while increasing "long-tail" customer numbers with the highest quality of our service offerings. For CDMO, we are seeing benefits of aggressive investment in capacity and new modalities come to fruition with revenues doubling in the first-quarter. Our China-based laboratory services and clinical research services segments also out-performed, growing 49.0% and 56.8% respectively. We expect the upward trajectory of these business segments to continue, mitigating any continuing COVID-19 related challenges that U.S. based laboratory services may face."

"A continued strong biotech funding environment, coupled with incremental demand from the pandemic, reinforces our decision to further invest in and expand our integrated platform solidifying our leading position to meet strong and fast growing demands in 2021 and beyond."

Dr. Ge Li concluded, "This is a good start to 2021 and we anticipate this momentum to continue in the coming quarters. Going forward, we will continue to bolster our integrated business model by expanding our platform through investments in new modalities, further enabling our customers to bring the most innovative medicines to patients - fulfilling our vision that: 'every drug can be made and every disease can be treated.'"

[4] If the sum of the data below is inconsistent with the total, it is caused by rounding.

[5] If the sum of the data below is inconsistent with the total, it is caused by rounding.

[6] If the sum of the data below is inconsistent with the total, it is caused by rounding.

[7] If the sum of the data below is inconsistent with the total, it is caused by rounding.

[8] In 2020, pursuant to the 2019 Profit Distribution Plan considered and approved by the shareholders' general meeting, the Company issued 4 shares for every 10 shares of the Company by way of capitalization of reserve. In accordance with the regulations of the China Securities Regulatory Commission, the Company has adjusted the basic earnings per share and diluted earnings per share for the comparative period according to the 2019 Profit Distribution Plan.

[9] If the sum of the data below is inconsistent with the total, it is caused by rounding.

[10] If the sum of the data below is inconsistent with the total, it is caused by rounding.

About WuXi AppTec

WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients. As an innovation-driven and customer-focused company, WuXi AppTec helps our partners improve the productivity of advancing healthcare products through cost-effective and efficient solutions. With industry-leading capabilities such as R&D and manufacturing for small molecule drugs, cell and gene therapies, and testing for medical devices, WuXi AppTec's open-access platform is enabling more than 4,400 collaborators from over 30 countries to improve the health of those in need - and to realize our vision that "every drug can be made and every disease can be treated." Please visit: http://www.wuxiapptec.com

https://www.wuxiapptec.com/news/wuxi-news/4508

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Publication:China Biotech
Geographic Code:9CHIN
Date:Jun 2, 2021
Words:15361
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