Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — FY2022 Earnings Presentation
35 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's earnings presentation, March 2023
Slide 1: 2022 Annual Results
2022 Annual Results Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2023 www.tigermedgrp.com
Slide 2: Disclaimer
Disclaimer This document is for information purposes only and is not intended to provide any representation, in whole or in part, of the relevant matters. Please refer to the 2022 annual results announcement and other relevant announcements published on the websites of the Shenzhen Stock Exchange (w
Slide 3: Results Overview
01 Results Overview
Slide 4: 2022 Business Highlights
2022 Business Highlights Business Recap Ongoing Projects(3) Global Reach(3) Provided services to 65% of all Class I 680 Drug Clinical Trials 9,233 total employees in 50 countries innovative drug approvals in China from 2004 worldwide, including 1,426 overseas to 2022 250 Overseas Clinical Trials inc
Slide 5: 2022 Key Financials
2022 Key Financials Adjusted Net Profit Attributable to the Owners Revenue Gross Profit and Margin of the Company and Margin(1) (RMB mm) (RMB mm) (RMB mm) 7,085.5 43.1% 39.3% 30.4% 23.5% 2,785.4 +35.9% 1,665.8 5,213.5 2,960.3 1,585.3 2,248.1 +23.9% +5.1% +33.4% 2,219.8 +37.8% 4,125.2 2,993.7 2021 20
Slide 6: Backlog and New Bookings
Backlog and New Bookings Backlog as of Year End New Bookings (RMB mm) (RMB mm) 13,785.9 +20.9% 11,404.9 9,645.5 9,673.4 +0.3% 12/31/2021 12/31/2022 2021 2022 6
Slide 7: Revenue Breakdown by China and Overseas Markets
Revenue Breakdown by China and Overseas Markets China Revenue Overseas Revenue Revenue Breakdown by Region (RMB mm) (RMB mm) 3,483.9 47% 3,601.6 2021 53% +30.7% 2,756.1 +41.8% 2,457.4 China Overseas 51% 2022 49% 2021 2022 2021 2022 China Overseas 7
Slide 8: Cost of Services
Cost of Services Cost of Services Breakdown by Nature and as % of Revenue (RMB mm) 56.9% 60.7% 4,300.0 9.7% +45.0% 2,965.4 4.8% 22.7% 23.4% 28.3% 28.7% 2021 2022 Direct labor costs Direct project-related costs Overhead costs 8
Slide 9: Operating Expenses
Operating Expenses Selling and Marketing Expenses Administrative Expenses and R&D Expenses and as Share-based Compensation and as % of Revenue as % of Revenue % of Revenue and as % of Revenue (RMB mm) (RMB mm) (RMB mm) (RMB mm) 2.5% 2.1% 10.6% 9.1% 4.1% 3.3% 1.8% 0.8% 643.3 234.6 211.8 554.8 +10.8%
Slide 10: Business Updates: Clinical Trial Solutions (CTS)
02 Business Updates Clinical Trial Solutions (“CTS”)
Slide 11: Clinical Trial Solutions (CTS)
Clinical Trial Solutions (“CTS”) Segment Revenue Segment Gross Profit and Margin (RMB mm) (RMB mm) 4,125.2 44.3% 37.3% 1,536.8 2,993.7 1,325.4 +37.8% +15.9% 2021 2022 2021 2022 11
Slide 12: CTS Key Business Updates
CTS Key Business Updates Number of Ongoing Drug Clinical Number of Ongoing Drug Clinical Research Projects by Phase(1) Research Projects by Region(1) 680 680 67 62 607 607 567 34 567 52 58 45 37 50 188 37 160 149 149 132 148 134 117 106 430 385 400 285 231 252 12/31/2021 06/30/2022 12/31/2022 12/31/
Slide 13: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Overseas Clinical Operation Business Updates Number of Ongoing Overseas Drug Clinical Research(1) ⚫ 188 ongoing single region overseas clinical trials as of 31 December 2022, primarily in South Korea, Australia and the US ⚫ 62 ongoing MRCTs as of 31 December 2022, b
Slide 14: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Overseas Clinical Operation Business Updates (Cont’d) ⚫ 21 newly signed MRCTs in 2022 49 Countries/Regions where Tigermed Team ⚫ Initiated the first European-only oncology MRCT in had Conducted MRCTs(1) 2022 Germany Italy ⚫ Established collaborations with over 100 c
Slide 15: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Overseas Clinical Operation Business Updates (Cont’d) ⚫ Clinical CRO information was disclosed in 311 out of a total of 1,125 overseas clinical trials sponsored by Chinese companies in 2018-2022 ⚫ 47% were awarded to Top 10 multinational CROs(1) and 53% to the rest
Slide 16: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Decentralized Clinical Trial (“DCT”) Solutions ⚫ Established Tigermed Digital Promotion Center (DPC) and DCT Solution Team Participant Enrollment Quality/Cost Balance in 2022 eRecruitment Risk-based monitoring, remote eConsent monitoring /auditing/inspection, ⚫ Plan
Slide 17: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Acquisition of Marti Farm Tigermed announced the completion of the acquisition of Europe-based clinical CRO Marti Farm on January 19, 2023 Headquartered in Zagreb, Croatia, Marti Farm is a clinical CRO providing services across clinical operation, pharmacovigilance,
Slide 18: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Regulatory Affairs ⚫ Number of new China IND projects increased by 35% year-over-year in 2022 and that of new US FDA IND projects up by 98% ⚫ Provided regulatory affair services to 9 successful approvals in China in 2022 ⚫ Assisted in 7 MRCT INDs in 2022 across coun
Slide 19: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Pharmacovigilance (“PV”） ⚫ Continued to expand our full life-cycle PV management and services in 2022 covering drugs, vaccines, medical devices and aesthetic medicines ⚫ Provided PV services to multiple approved drugs and vaccines in 2022, including COVID-19 vaccine
Slide 20: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Real World Studies ⚫ Rapid top-line growth of our comprehensive real world services in 2022 covering both prospective and retrospective real world studies, database- driven, rare disease, and investigator initiated real world studies, and real world consulting servi
Slide 21: Business Updates: Clinical-related and Lab Services (CRLS)
03 Business Updates Clinical-related and Lab Services (“CRLS”)
Slide 22: Clinical-related and Lab Services (CRLS)
Clinical-related and Lab Services (“CRLS”) Segment Revenue Gross Profit and Margin (RMB mm) (RMB mm) 41.6% 42.2% 2,960.3 1,248.6 +35.3% 2,219.8 +33.4% 922.7 2021 2022 2021 2022 22
Slide 23: CRLS Key Business Updates
CRLS Key Business Updates Project Status for Key CRLS Services Data Management and Statistical Analysis Site Management Laboratory Services Completed Conducted 274 by team based overseas 1,621 5,923 4,667 Completed Conducted Completed 502 by team based 2,872 in China 1,994 157 228 105 83 203 122 202
Slide 24: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Data Management & Statistical Analysis (“DMSA”) ⚫ Launched a new DMSA site at Luohe, Henan in 2022 as part of our continuing effort to increase our DMSA capacity and operating efficiency ⚫ DMSA team successfully applied for 35 High-tech software certification in 20
Slide 25: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Site Management ⚫ Had 1,621 ongoing site management projects as of December 31, 2022, from 1,432 as of December 31, 2021 ⚫ Team size of 2,465 Clinical Research Coordinators (“CRC”s) as of December 31, 2022. covering over 140 cities across China ⚫ First site managem
Slide 26: Other Updates
04 Other Updates
Slide 27: Updates of Investment Activities
Updates of Investment Activities Realized Investment Gain and Fair Value Gain(1) (RMB mm) 1,815.4 ⚫ Portfolio included 153 companies in the healthcare industry and 57 investment funds as of December 31, 2022 ⚫ RMB 9,992.7mm balance as of December 31 2022 ⚫ Invested RMB 416.4 mm in unlisted equities;
Slide 28: Employee Base
Employee Base Total employees increased by 11.3% to 9,233 as of December 31, 2022 from 8,299 as of June 30, 2022 Employees Mix by Function(1) Employees Mix by Geography(1) Management and administration Overseas and China Hong Kong, Macau, Taiwan Marketing and business 518 1,426 development 6% 413 4%
Slide 29: Commitment to Sustainability
Commitment to Sustainability Enhanced ESG Governance with Recognition From Leading Institutions ⚫ Formally published Tigermed ESG Standards in 2022, entailing our decision making principals on ESG matters from multiple perspectives including business principles, employee welfare, customer rights, en
Slide 30: Strategies for Future Growth
Strategies for Future Growth Build a higher moat on our core CTS and CRLS services to capture a higher market share Expand into emerging service, and ramp up scale and increase market share Invest in new technology and digital platform to improve efficiency Fortify the role as a bridge for Chinese c
Slide 31: Appendix
05 Appendix
Slide 32: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss Year ended December 31, (RMB 000s) 2021 2022 Revenue 5,213,538 7,085,471 Cost of services (2,965,420) (4,300,027) Gross profit 2,248,118 2,785,444 Other income 295,217 284,961 Other gains and losses, net 2,077,190 620,322 Impairment losses (24,426) (24,575) S
Slide 33: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (RMB 000s) As of December 31, 2021 As of December 31, 2022 NON-CURRENT ASSETS 12,891,285 16,341,353 Property, plant and equipment 701,857 976,679 Intangible assets 234,090 276,147 Goodwill 1,778,948 2,485,018 Right-of-use assets 473,262 622,354 Interests
Slide 34: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) (RMB 000s) As of December 31, 2021 As of December 31, 2022 CURRENT LIABILITIES 2,412,716 3,729,569 Trade and other payables 879,962 717,950 Contract liabilities 789,509 939,765 Bank borrowings 492,320 1,868,215 Income tax payables 176,410 85,875
Slide 35: 300347.SZ / 3347.HK
300347.SZ / 3347.HK Hangzhou Tigermed Consulting Co., Ltd. www.tigermedgrp.com
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