Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — FY2020 Earnings Presentation
26 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's earnings presentation, March 2021
Slide 1: Hangzhou Tigermed Consulting Co., Ltd.
Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2021
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 2020 annual results announcement and other relevant announcements published on the websites of the Shenzhen Stock Exchange (w
Slide 3: 2020 Annual Results
2020 Annual Results
Slide 4: Tigermed 2020 Snapshot
Tigermed 2020 Snapshot RMB 3,192.3mm Revenue 13.9% YoY Growth 389 Drug Clinical Trials 47.1% Gross Margin in 2020 115 Overseas Clinical Trials including 20 MRCTs(3) vs 46.1% in 2019 Extensive Engagement in RMB 987.2mm Adjusted Net Profit COVID-19 Related Clinical Trials Financial Attributable to Own
Slide 5: Key Financials Update
Key Financials Update Revenue Gross Profit and Margin (RMB mm) (RMB mm) 46.1% 47.1% 3,192.3 2,803.3 1,673.1 1,456.6 +14.9% 1,503.3 1,291.9 1,346.7 1,519.2 +12.8% 2019 2020 2019 2020 Clinical trial solutions Clinical-related and laboratory services YoY Growth Net Profit and Margin Adjusted Net Profit
Slide 6: Backlog and New Bookings
Backlog and New Bookings Backlog as of Year End New Bookings (RMB mm) (RMB mm) 7,260.3 5,536.5 5,011.2 4,230.9 12/31/2019 12/31/2020 2019 2020 3
Slide 7: 1H and 2H2020 Revenue by Segment
1H and 2H2020 Revenue by Segment Total revenue increased 18.0% YoY during 2H2020 vs 9.3% YoY during 1H2020 Clinical Trial Solutions Revenue Clinical-related and Laboratory Services Revenue (RMB mm) (RMB mm) 932.1 808.2 741.0 755.7 711.0 719.4 700.9 627.3 1H2019 1H2020 2H2019 2H2020 1H2019 1H2020 2H2
Slide 8: Revenue Breakdown by PRC and Overseas Markets
Revenue Breakdown by PRC and Overseas Markets PRC Revenue Overseas Revenue (RMB mm) (RMB mm) 1,906.7 1,600.1 1,203.2 1,285.6 2019 2020 2019 2020 Revenue Breakdown by Region ◼ PRC revenue growth further recovered during 2H2020 benefitting from the effective control of the COVID-19 pandemic in China.
Slide 9: 1H and 2H2020 Revenue By Region
1H and 2H2020 Revenue By Region China Revenue Overseas Revenue (RMB mm) (RMB mm) 1,060.9 881.8 845.8 718.3 679.4 609.9 606.2 593.3 1H2019 1H2020 2H2019 2H2020 1H2019 1H2020 2H2019 2H2020 ____________________ Note: 1H and 2H financials are unaudited 6
Slide 10: Cost of Services
Cost of Services Cost of Services Breakdown by Nature and as % of Revenue (RMB mm) 53.9% 52.9% 1,688.9 1,511.4 5.6% 8.1% 17.2% 18.3% 30.1% 27.5% 2019 2020 Direct labor costs Direct project-related costs Overhead costs 7
Slide 11: Operating Expenses
Operating Expenses Selling and Marketing Expenses and as % of Revenue Administrative Expenses and as % of Revenue (RMB mm) (RMB mm) 2.9% 3.0% 12.5% 12.6% 400.7 350.5 81.1 96.6 2019 2020 2019 2020 R&D Expenses and as % of Revenue Share-based Compensation and as % of Revenue (RMB mm) (RMB mm) 4.4% 4.9
Slide 12: Non-IFRS Adjusted Net Profit Attributable to the Owner of the Company
Non-IFRS Adjusted Net Profit Attributable to the Owner of the Company (RMB mm) 146.2 6.7 5.0 35.8 (957.8) 1,751.3 987.2 Profit attributable to owners of the Share-based compensation expense Net foreign exchange loss/(gain) Amortization of intangible assets Listing expenses incurred by our Increase i
Slide 13: Business Update
Business Update Diigermed
Slide 14: Clinical Trial Solutions ("CTS")
Clinical Trial Solutions (“CTS”) Revenue (RMB mm) 1,519.2 ◼ The increase of CTS revenue was primarily due to the increased revenue 1,346.7 from our clinical trial operation and other services including medical registration, medical translation, and pharmacovigilance etc. ◼ Acquisition of Mosim in Ja
Slide 15: CTS Key Business Updates
CTS Key Business Updates Number of Ongoing Drug Clinical Research Projects by Phase(1) Number of Ongoing Drug Clinical Research Projects by Region(1) 389 389 349 28 349 20 21 28 17 287 24 287 95 10 117 12 85 19 107 70 92 66 74 63 274 247 205 150 103 123 12/31/2019 06/30/2020 12/31/2020 12/31/2019 06
Slide 16: Clinical-related and Lab Services ("CRLS")
Clinical-related and Lab Services (“CRLS”) Revenue (RMB mm) ◼ The increase of CRLS revenue was primarily driven by the gradual recovery 1,673.1 of demand of our laboratory, site management and patient recruitment 1,456.6 and DMSA services from our customers, primarily during 2H2020. ◼ Major CRLS ser
Slide 17: CRLS Key Business Updates
CRLS Key Business Updates Data Management and Statistical Analysis Site Management Laboratory Services Projects completed Conducted 225 by team based overseas 2,029 1,180 1,994 Conducted Completed by team Completed 1,581 1,512 440 based in China 127 158 105 148 122 103 2018 2019 2020 12/31/ 2020 201
Slide 18: Overseas Business Updates
Overseas Business Updates Number of Overseas Employees(1) ◼ Further efforts on overseas clinical operation and global project management capability 772 731 679 ◼ Expanded clinical operation and project management team in US, Europe and Australia ◼ Strategical expansion into LatAm and Africa on the b
Slide 19: Other Business Updates
Other Business Updates 1 ◼ Real-world Study (“RWS”) ◼ Set up a dedicated RWS team offering retrospective/prospective studies, real world safety monitoring, pharmacoeconomics studies and real-world patient management services in collaboration with internal clinical operation, project management and s
Slide 20: Updates of Investment Activities
Updates of Investment Activities Realized Investment Gain and Fair Value Gain(1) (RMB mm) ▪ Portfolio included 84 companies in the 1,137.9 healthcare industry and 48 investment funds as of December 31, 2020 ▪ RMB 5,333.5mm balance as of December 31, 2020 ▪ Invested RMB 928.6mm in unlisted equities a
Slide 21: Employee Base
Employee Base Total employees increased 13.6% to 6,032 as of December 31, 2020 from 5,312 as of June 30, 2020 Employees Mix by Function as of December 31, 2020 Employees Mix by Geography as of December 31, 2020 Management and administration Overseas (including Hong Kong, Macau and Taiwan) Marketing
Slide 22: Appendix
Appendix
Slide 23: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss Year ended December 31, (RMB 000s) 2019 2020 Revenue 2,803,309 3,192,279 Cost of services (1,511,409) (1,688,946) Gross profit 1,291,900 1,503,333 Other income 64,149 145,063 Other gains and losses, net 361,551 1,273,621 Impairment losses (21,186) 10,075 Sell
Slide 24: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position As of December 31, (RMB 000s) 2019 2020 NON-CURRENT ASSETS 4,201,662 7,862,049 Property, plant and equipment 306,700 400,455 Intangible assets 78,831 124,782 Goodwill 1,157,831 1,444,519 Right-of-use assets 193,420 332,615 Interests in associates 109,713
Slide 25: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) As of December 31, (RMB 000s) 2019 2020 CURRENT LIABILITIES 1,811,986 1,139,337 Trade and other payables 428,471 529,546 Contract liabilities 398,240 484,643 Borrowings 864,863 - Income tax payables 70,293 72,858 Lease liabilities 50,119 52,290 N
Slide 26: 300347.SZ 3347.HK
300347.SZ 3347.HK Hangzhou Tigermed Consulting Co., Ltd. www.tigermedgrp.com
Hangzhou Tigermed Consulting — FY2020 Earnings Presentation on 6ix