Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — FY2024 Earnings Presentation
37 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's earnings presentation, March 2025
Slide 1: 2024 Annual Results
2024 Annual Results Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2025 www.tigermedgrp.com Confidential
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 2024 annual results announcement and other relevant announcements published on the websites of the Shenzhen Stock Exchange (w
Slide 3: Annual Results Overview
01 Annual Results Overview www.tigermedgrp.com Confidential
Slide 4: 2024 Business Highlights
2024 Business Highlights Business Recap Ongoing Projects(1) Corporate Updates(1) Maintained leading position in China clinical CRO 831 Drug Clinical Trials 10,185 employees over 33 countries and regions industry with 12.8%(2) market share including 1,626 overseas employees 295 Overseas Clinical Tria
Slide 5: New Bookings Back to Stable Growth in 2024
New Bookings Back to Stable Growth in 2024 Net New Bookings Backlog of Future Contracted Revenue(1) (RMB mm) (RMB mm) +7.3% +12.0% 15,776.1 14,080.0 8,423.0 7,851.7 FY2023 FY2024 FY2023 FY2024 (1) As of December 31, 2024 5
Slide 6: 2024 Key Financials
2024 Key Financials Adjusted Net Profit Attributable to the Owners of Revenue Gross Profit and Margin the Company and Margin (1) (RMB mm) (RMB mm) (RMB mm) 38.6% 34.0% 20.0% 12.9% -10.6% -21.3% -42.1% 7,384.0 6,603.1 2,848.5 3,215.9 2,242.0 1,477.2 1,256.1 3,425.0 1,302.5 854.9 4,168.1 1592.4 3,178.
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) -16.2% -3.0% 57% FY2023 43% 4,234.5 3,547.9 China Overseas 3,149.5 3,055.2 46% FY2024 54% FY2023 FY2024 FY2023 FY2024 China Overseas 7
Slide 8: Cost of Services
Cost of Services Cost of Services Breakdown by Nature and as % of Revenue (RMB mm) 61.4% 66.0% -3.8% 4,535.5 4,361.1 10.3% 11.5% 19.4% 20.7% 31.8% 33.8% FY2023 FY2024 Direct labor costs Direct project-related costs Overhead costs 8
Slide 9: Operating Expenses
Operating Expenses Selling and Marketing Expenses Administrative Expenses R&D Expenses Share-based Compensation and as % of Revenue and as % of Revenue and as % of Revenue and as % Revenue (RMB mm) (RMB mm) (RMB mm) (RMB mm) 2.5% 3.1% 8.8% 11.2% 3.5% 3.6% 0.2% 0.9% +10.8% +13.3% -8.9% +276.7% 736.8
Slide 10: Business Updates: Clinical Trial Solutions
02 Business Updates Clinical Trial Solutions (“CTS”) www.tigermedgrp.com Confidential
Slide 11: Clinical Trial Solutions ("CTS")
Clinical Trial Solutions (“CTS”) Segment Revenue Segment Gross Profit and Margin (RMB mm) (RMB mm) 38.2% 29.6% -23.8% -41.0% 4,168.1 1,592.4 3,178.1 939.5 FY2023 FY2024 FY2023 FY2024 11
Slide 12: CTS Key Business Updates
CTS Key Business Updates Number of Ongoing Drug Clinical Research Number of Ongoing Drug Clinical Research Projects by Phase(1) Projects by Region(1) 831 831 800 800 752 752 62 111 55 91 84 27 59 30 31 208 233 192 203 194 171 136 147 159 537 536 499 330 340 331 12/31/2023 06/30/2024 12/31/2024 12/31
Slide 13: Overseas Clinical Operation Business Updates
Overseas Clinical Operation Business Updates Number of Ongoing Overseas Drug Clinical Research(1) ⚫ As of December 31, 2024, our clinical operation team in the U.S. had 120+ people, covering 65 cities in 25 states ⚫ Our U.S. team collaborates with 700+ clinical trial centers and 100+ cancer 295 rese
Slide 14: CTS Key Business Updates
CTS Key Business Updates Regulatory Affairs (“RA”) ⚫ As of December 31, 2024, cumulative RA project experience reached 1,230 ⚫ Added 39 new U.S. FDA IND projects in 2024, and completed 31 FDA IND submissions with subsequent approvals/no-objections ⚫ In 2024, assisted 3 products commercially approved
Slide 15: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Pharmacovigilance (“PV”) ⚫ Our global PV team size increased to 190 people as of 2024 year-end with new presence in Southeast Asia and Japan. Plan to continue to enhance our one-stop global safety and PV service solution ⚫ Added 224 new PV projects and 179 new clien
Slide 16: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Decentralized Clinical Trials (”DCT”s) ⚫ Launched multiple remote intelligent DCT platforms in 2024, including 1) CTRM (Remote Monitoring), 2) SEDS (Subject Eligibility Discussion) and 3)Safety Portal, all of which have been integrated into iTigermed Platform (our c
Slide 17: Business Updates: Clinical-related and Lab Services
03 Business Updates Clinical-related and Lab Services (“CRLS”) www.tigermedgrp.com Confidential
Slide 18: Clinical-related and Lab Services ("CRLS")
Clinical-related and Lab Services (“CRLS”) Segment Revenue Gross Profit and Margin (RMB mm) (RMB mm) 39.1% 38.0% +6.5% +3.7% 3,215.9 3,425.0 1,256.1 1,302.5 FY2023 FY2024 FY2023 FY2024 18
Slide 19: Clinical-related and Lab Services (Cont'd)
Clinical-related and Lab Services (“CRLS”) (Cont’d) Status of partial business projects within the segment Data Management and Statistical Analysis Site Management Laboratory Services Completed Conducted 325 by team based overseas Completed 2,253 5,818 4,990 4,667 4,544 Conducted Completed 517 by te
Slide 20: CRLS Key Business Updates
CRLS Key Business Updates Data Management & Statistical Analysis (“DMSA”) ⚫ In 2024, assisted in marketing of 15 innovative drugs in both China and overseas markets ⚫ As of December 31, 2024 , our DMSA team had over 800 professionals in China, South Korea, the United States, and India ⚫ As of Decemb
Slide 21: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Site Management (“SMO”) ⚫ SMO new bookings continued stable growth in 2024. As of December 31, 2024, we had 2,253 ongoing SMO projects and have completed 344 SMO projects in 2024, of which 80% were completed either ahead of schedule or on schedule ⚫ As of December
Slide 22: Other Updates
04 Other Updates www.tigermedgrp.com Confidential
Slide 23: Updates of Investment Activities
Updates of Investment Activities Realized Investment Gain and Fair Value Gain(1) (RMB mm) 352.8 ⚫ Portfolio included 187 companies in the healthcare 232.4 industry and 54 investment funds as of December 31, 2024 ⚫ RMB 10,188.8 million balance as of December 31, 1.4 2024 FY2023 FY2024 ⚫ Invested RMB
Slide 24: Employee Base
Employee Base The number of our employees increased to 10,185 as of December 31, 2024 from 9,701 as of Dec 31,2024 Employees Mix by Function(1) Employees Mix by Geography(1) Management and administration Overseas and Hong Kong China, Macao China, Taiwan China 605 1,626 Marketing and business develop
Slide 25: Industry and Corporate Strategy Updates
05 Industry and Corporate Strategy Updates www.tigermedgrp.com Confidential
Slide 26: China Innovative Drug R&D Remained Active in 2024
China Innovative Drug R&D Remained Active in 2024 “Implementation Plan for Full-Chain Support A record-high of 48 Class 1 A total potential value of 51.5 of Innovative Drug Development” officially innovative drugs were approved Billion USD out-licensing approved in 2024(1) transaction deals(2) Furth
Slide 27: Clinical Trial Industry Showed Sustained Growth in China
Clinical Trial Industry Showed Sustained Growth in China Number of innovative drug clinical trials China’s clinical trial outsourcing market size(2) published by CDE (1) 2019-2026E 2017-2024 RMB Billion 59.8 1,859 1,697 52.5 1,559 1,481 46.3 44.2 41.1 1,048 32.7 853 25.5 26.3 643 455 2017 2018 2019
Slide 28: Tigermed Led China Clinical CRO Market for Five Consecutive Years
Tigermed Led China Clinical CRO Market for Five Consecutive Years Top clinical CRO companies in China by clinical trial outsourcing revenue from 2019 to 2023(1) 2019 2020 2021 2022 2023 Company Share, % Company Share, % Company Share, % Company Share, % Company Share, % Tigermed 8.7% Tigermed 9.2% T
Slide 29: Four Core Strategies to Drive Long-Term Growth
Four Core Strategies to Drive Long-Term Growth 01 02 03 04 Continue to expand Build integrated and full- Provide specialized R&D Embrace digital and AI international business and chain R&D service services in specific fields transformation in future overseas layout capabilities and therapeutic areas
Slide 30: How We Think AI Can Transform Clinical CRO Industry
How We Think AI Can Transform Clinical CRO Industry Empower clinical CRO with high AI will drive the formation of new AI raises the willingness of using digital efficiency and cost-saving business models technologies in clinical trials Clinical trial design and optimization AI-CRO(Intelligent CRO) P
Slide 31: Tigermed AI Strategy: Commitments and Roadmap
Tigermed AI Strategy: Commitments and Roadmap Empower innovation by developing one-stop AI LLM in medical field In February 2025, we completed the localized deployment of the open-source LLM DeepSeek-R1. Based on the open-source model Qwen 2.5, our subsidiary Taya Technology developed a one-stop AI
Slide 32: Appendix
06 Appendix www.tigermedgrp.com Confidential
Slide 33: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss (RMB 000s) 2023 2024 I Total operating revenue 7,384,039 6,603,120 Including: Operating Revenue 7,384,039 6,603,120 II Total operating costs (5,554,125) (5,610,048) Including: Operating cost (4,535,511) (4,361,107) Business tax and surcharge (27,867) (28,038)
Slide 34: Net profit attributable to shareholders after deducting extraordinary gain or loss
Net profit attributable to shareholders of the Company after deducting extraordinary gain or loss (RMB 000s) 2023 2024 Net profits attributable to shareholders of the parent 2,024,850 405,143 Adjusted for: Loss/(gain) from disposal of non-current assets 188 (3,563) Government grants included in the
Slide 35: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (RMB 000s) As of December 31, 2023 As of December 31, 2024 NON-CURRENT ASSETS 18,336,601 22,371,331 Long-term equity investments 2,977,028 3,424,603 Other equity instrument investments 14,508 8,090 Other non-current financial assets 10,231,702 10,105,906
Slide 36: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) (RMB 000s) As of December 31, 2023 As of December 31, 2024 CURRENT LIABILITIES 4,138,736 3,661,852 Short-term borrowings 1,969,694 1,912,017 Accounts payables 249,308 257,288 Contract liabilities 680,489 790,737 Employee benefits payable 357,979
Slide 37: Hangzhou Tigermed Consulting Co., Ltd.
Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2025 www.tigermedgrp.com Confidential
Hangzhou Tigermed Consulting — FY2024 Earnings Presentation on 6ix