Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — FY2021 Earnings Presentation
41 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's earnings presentation, March 2022
Slide 1: 2021 Annual Results
2021 Annual Results Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2022
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 2021 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: 2021 Key Financials
2021 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) 5,213.5 47.1% 43.1% 30.9% 30.4% +63.3% 2,248.1 2,219.8 1,585.3 +49.5% 3,192.3 1,503.3 +60.6% +32.7% 987.2 1,673.1 2,993.7 +97.1% 1,519.2 2020 202
Slide 5: Backlog and New Bookings
Backlog and New Bookings Backlog as of Year End New Bookings (RMB mm) (RMB mm) 11,404.9 +57.1% 9,645.5 7,260.3 +74.2% 5,536.5 12/31/2020 12/31/2021 2020 2021 5
Slide 6: 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) 2,756.1 60% 2020 40% 2,457.4 +44.5% 1,906.7 +91.1% China Overseas 1,285.6 53% 2021 47% 2020 2021 2020 2021 China Overseas 6
Slide 7: Cost of Services
Cost of Services Cost of Services Breakdown by Nature and as % of Revenue (RMB mm) 52.9% 56.9% 2,965.4 4.8% +75.6% 23.4% 1,688.9 5.6% 17.2% 28.7% 30.1% 2020 2021 Direct labor costs Direct project-related costs Overhead costs 7
Slide 8: 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) 3.0% 2.5% 12.6% 10.6% 4.9% 4.1% 1.3% 1.8% 554.8 211.8 +38.5% +35.2% 129.
Slide 9: Business Updates
02 Business Updates
Slide 10: 2021 Business Highlights
2021 Business Highlights Industry Leadership Ongoing Projects(4) Global Reach(4) Provided services to 52.9% of all Class I 567 Drug Clinical Trials 1,026 overseas employees innovative drug approvals in China from 2016 to 2021 182 Overseas Clinical Trials including 24 overseas subsidiaries 50 MRCTs(5
Slide 11: We Add Value throughout the Lifecycle of Clinical Development
We Add Value throughout the Lifecycle of Clinical Development Drug Discovery and Pre-clinical Development Registration, Regulatory Services IND Submission & Registration Clinical Trial Design, PK Simulation Early Stage Clinical Operations Phase I : Human Pharmacology Trial Medical Science and Strate
Slide 12: Clinical Trial Solutions
03 Clinical Trial Solutions
Slide 13: Clinical Trial Solutions (“CTS”)
Clinical Trial Solutions (“CTS”) Segment Revenue Segment Gross Profit and Margin (RMB mm) (RMB mm) 49.7% 44.3% 2,993.7 1,325.4 +97.1% +75.6% 754.7 1,519.2 2020 2021 2020 2021 13
Slide 14: 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) 567 567 45 50 491 37 491 37 29 132 39 389 148 389 111 28 20 28 137 95 106 117 85 66 385 351 274 231 193 150 12/31/2020 06/30/2021 12/31/2021 12/31/202
Slide 15: CTS Key Business Updates (Cont’d)
CTS Key Business Updates (Cont’d) Medical Device Clinical Research ⚫ Completed 148 medical device projects(1) in 2021 and had 341 ongoing projects as of December 31, 2021 ⚫ Contributed to successful marketing approvals for 3 innovative medical devices and 2 artificial intelligent medical device soft
Slide 16: Our CTS Services are Evolving
Our CTS Services are Evolving Regulatory Change Technology Innovation Global Expansion Keep abreast of the latest regulatory Navigate technology and launch new Sense the needs from our customers and regime and position for potential future services in the highly regulated clinical establish a growin
Slide 17: We Operate in an Increasingly Stringent Regulatory Regime
We Operate in an Increasingly Stringent Regulatory Regime July 22, 2015 June 1, 2017 August 14, 2017 August 26, 2019 NMPA mandated self-inspection China officially joined the ICH Top prosecutor and judiciary New Drug Administration and audit for all clinical trials as a full regulatory member publis
Slide 18: Navigate Technology in the Highly Regulated Market
Navigate Technology in the Highly Regulated Market Tailinyan 泰临研 as an Example Tailinyan is in-house developed all-in-one centralized digital clinical trial platform comprising: • Clinical Trial Management System (“CTMS”) • Electronic Data Capture (“EDC”) • eSource Record (“ESR”) • Clinical Trial Re
Slide 19: Overseas Clinical Operation Business Updates
Overseas Clinical Operation Business Updates Number of Ongoing Overseas Drug Clinical Research(1) ⚫ 132 ongoing single region overseas clinical trials as of 31 December 2021, primarily in South Korea, Australia and the US ⚫ 50 ongoing MRCTs as of 31 December 2021 182 ⚫ Ongoing MRCT projects were bei
Slide 20: Overseas Clinical Operation Business Updates (Cont’d)
Overseas Clinical Operation Business Updates (Cont’d) Tigermed Global Network as of December 31, 2021 52 52 24 24 Countries Countrieswithwith Tigermed Overseas Overseas employees subsidiaries subsidiaries Tigermed Across employees 5 continents Qualified signing entities Across 5 continents Qualified
Slide 21: Future CTS Strategies
Future CTS Strategies ⚫ Build a higher moat on core CTS services ⚫ Expand into emerging services, and ramp up scale and increase market share ⚫ Fortify the role as a bridge for Chinese customers to tap global clinical trial market and vice versa ⚫ Incubate and improve the clinical R&D ecosystem with
Slide 22: Clinical-related and Lab Services
04 Clinical-related and Lab Services
Slide 23: Clinical-related and Lab Services (“CRLS”)
Clinical-related and Lab Services (“CRLS”) Revenue Gross Profit and Margin (RMB mm) (RMB mm) 44.7% 41.6% 922.7 2,219.8 +23.3% 748.6 +32.7% 1,673.1 2020 2021 2020 2021 23
Slide 24: 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 258 by team based overseas 1,432 2,872 2,516 Completed Conducted Completed 1,994 485 by team based 1,512 in China 158 157 203 105 148 122 20
Slide 25: CRLS Key Business Updates (Cont’d)
CRLS Key Business Updates (Cont’d) Data Management & Statistical Analysis ⚫ Total number of customers increased to 163 as of December 31, 2021 from 116 as of December 31, 2020 as DMSA team continued to receive orders from existing customers and acquire new customers in both China and overseas market
Slide 26: Emerging Services
05 Emerging Services
Slide 27: Overview of Our Select Emerging Services
Overview of Our Select Emerging Services Clinical Related and Laboratory Clinical Trial Solutions (CTS) Services(CRLS) Clinical trial operation Medical writing Data management Statistical analysis Functional service provision Regulatory affairs Site management Subject recruitment (FSP) Training and
Slide 28: Early Stage Development and Medical Science
Early Stage Development and Medical Science Integrated Early Stage Development Solutions ⚫ In 2021, we integrated our early stage clinical operation and Mosim (1) units to offer integrated early stage development solutions to our customers. Our services cover the full spectrum of expertise and servi
Slide 29: Pharmacovigilance (“PV”)
Pharmacovigilance (“PV”) ⚫ PV system was first outlined in the New Drug Clinical Stage Administration Law in 2019 PV Service ⚫ Tigermed PV team provides full suite of PV services that meet both local and global standards with in-house developed PV insights & improvement system PHiOS ⚫ 10,000+ annual
Slide 30: Real World Study (“RWS”)
Real World Study (“RWS”) We offer comprehensive real world services leveraging our deep understanding of the NMPA regulation and guideline, our technology platform, and our clinical operation and site management capability Solutions Retrospective and prospective Marketing approval based Investigator
Slide 31: Medical Translation and Medical Imaging
Medical Translation ⚫ Specialized regulatory translation services provider for healthcare and life sciences industry with experienced medical translation specialists and academic advisors ⚫ Strong demands as more cross-border clinical trials with team members in China, Europe, Americas and Southeast
Slide 32: Excellence for Clinical Trial Sites (“E-Site”)
Excellence for Clinical Trial Sites (“E-Site”) Launched in 2020, E-Site Program aims to optimize clinical 2021 Highlights research resources, improve the infrastructure and technical expertise at hospitals and sites, and increase the efficiency of patient recruitment and follow-ups among collaborati
Slide 33: Other Updates
O06 Other Updates
Slide 34: Updates of Investment Activities
Updates of Investment Activities Realized Investment Gain and Fair Value Gain(1) (RMB mm) 1,815.4 ⚫ Portfolio included 123 companies in the healthcare industry and 56 investment funds as of December 31, 2021 ⚫ RMB 8,759.9 mm balance as of December 31 2021 1,137.9 ⚫ Invested RMB 1,355.1 mm in unliste
Slide 35: Employee Base
Employee Base Total employees increased 15.5% to 8,326 as of December 31, 2021 from 7,208 as of June 30, 2021 Employees Mix by Function(1) Employees Mix by Geography(1) Management and administration Overseas and China Hong Kong, Macau, Taiwan Marketing and business 411 1,026 development 5% 313 4% 12
Slide 36: Commitment to Sustainability
Commitment to Sustainability Embedding Sound Sustainability and ESG Practices into Corporate Strategy with Industry Recognition 0.23 tons 38,000 families Future 50 2021 by FortuneTM CO2 emission per employee in 2021, Assisted in 2021 under Tigermed sponsored down 72% YoY Hepatitis B Zero Maternal Tr
Slide 37: Appendix
07 Appendix
Slide 38: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss Year ended December 31, (RMB 000s) 2020 2021 Revenue 3,192,279 5,213,538 Cost of services (1,688,946) (2,965,420) Gross profit 1,503,333 2,248,118 Other income 145,063 295,217 Other gains and losses, net 1,273,621 2,077,190 Impairment losses 10,075 (24,426) S
Slide 39: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (RMB 000s) As of December 31, 2020 As of December 31, 2021 NON-CURRENT ASSETS 7,862,049 12,891,285 Property, plant and equipment 400,455 701,857 Intangible assets 124,782 234,090 Goodwill 1,444,519 1,778,948 Right-of-use assets 332,615 473,262 Interests i
Slide 40: Consolidated Statement of Financial Position (Cont’d)
Consolidated Statement of Financial Position (Cont’d) (RMB 000s) As of December 31, 2020 As of December 31, 2021 CURRENT LIABILITIES 1,139,337 2,412,716 Trade and other payables 529,546 879,962 Contract liabilities 484,643 789,509 Borrowings - 492,320 Income tax payables 72,858 176,410 Lease liabili
Slide 41: 300347.SZ / 3347.HK
300347.SZ / 3347.HK Hangzhou Tigermed Consulting Co., Ltd. www.tigermedgrp.com
Hangzhou Tigermed Consulting — FY2021 Earnings Presentation on 6ix