Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — H1 2023 Earnings Presentation
31 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's earnings presentation, August 2023
Slide 1: 2023 Interim Results
2023 Interim Results Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK August 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 2023 interim results announcement and other relevant announcements published on the websites of the Shenzhen Stock Exchange (
Slide 3: Interim Results Overview
01 Interim Results Overview
Slide 4: 1H2023 Key Financials
1H2023 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) 39.5% 39.5% 24.4% 24.1% +3.2% +3.4% +2.2% 3,594.2 3,710.9 1,418.3 1,466.3 876.5 895.6 1,422.1 1,607.5 617.6 640.8 2,172.1 2,103.4 800.7 825.5 1
Slide 5: 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) 47% 1H2022 +24.2% -15.2% 53% 2,087.4 1,913.4 China Overseas 1,680.8 1,623.5 44% 1H2023 56% 1H2022 1H2023 1H2022 1H2023 China Overseas 5
Slide 6: Cost of Services
Cost of Services Cost of Services Breakdown by Nature and as % of Revenue (RMB mm) 60.5% 60.5% 2,175.9 +3.2% 2,244.6 5.2% 6.7% 23.6% 28.9% 30.2% 26.4% 1H2022 1H2023 Direct labor costs Direct project-related costs Overhead costs 6
Slide 7: 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) 2.2% 2.4% 8.9% 9.4% 3.1% 3.5% 0.7% 1.5% +11.3% +9.0% +15.9% +116.4% 128.
Slide 8: Business Updates: Clinical Trial Solutions
02 Business Updates Clinical Trial Solutions
Slide 9: Clinical Trial Solutions ("CTS")
Clinical Trial Solutions (“CTS”) Segment Revenue Segment Gross Profit and Margin (RMB mm) (RMB mm) 36.9% 39.2% -3.2% +3.1% 2,172.1 2,103.4 800.7 825.5 1H2022 1H2023 1H2022 1H2023 9
Slide 10: 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) 800 772 800 772 74 62 700 680 700 680 35 607 67 607 62 600 34 600 207 52 185 58 37 188 500 160 500 149 149 400 146 400 134 300 117 300 503 430 200 200
Slide 11: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Overseas Clinical Operation Business Updates Number of Ongoing Overseas Drug Total employees reached 9,455, of which 1,525 employees based Clinical Research(1) overseas 269 Opened International Headquarters in Hong Kong for establishing 250 a business and functional
Slide 12: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Overseas Clinical Operation Business Updates (Cont’d) As of June 30, 2023, we have established collaborations with over 100 clinical sites in the United States, covering 33 states. The size of our US clinical operation team has more than doubled from June 30, 2022,
Slide 13: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Global R&D Services and Operations Network EMEA Team Size: 80+ China Team Size: 7,900+ • CRA and PM covering key European countries • Full clinical operational capabilities and functional support • The Largest Clinical CRO in China • Collaborated with clinical sites
Slide 14: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Regulatory Affairs (“RA”) l As of June 30, 2023, we have a total of 940 accumulated RA project experience l In the first half of 2023, we also added 18 new U.S. Food and Drug Administration (“FDA IND”) projects, of which 9 of them have successfully filed and were cl
Slide 15: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Pharmacovigilance (“PV”） l We completed the integration of Marti Farm’s pharmacovigilance teams with our existing pharmacovigilance team in China, providing safety monitoring solutions to both pre-NDA and post-market projects for drugs, medical devices, vaccines and
Slide 16: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Real World Studies l We successfully reached multiple real-world study collaborations with an multi-national pharmaceutical company. l Research collaborations with universities and hospitals on real world studies has been further strengthened, including a 14th Five-
Slide 17: Business Updates: Clinical-related and Lab Services
03 Business Updates Clinical-related and Lab Services
Slide 18: Clinical-related and Lab Services ("CRLS")
Clinical-related and Lab Services (“CRLS”) Segment Revenue Gross Profit and Margin (RMB mm) (RMB mm) 43.4% 39.9% +13.0% +3.8% 1,607.5 1,422.1 617.6 640.8 1H2022 1H2023 1H2022 1H2023 18
Slide 19: 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 306 by team based overseas 1,776 5,002 4,667 Conducted Completed 553 by team Completed based in China 2,872 1,994 157 228 105 83 203 122 202
Slide 20: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Data Management & Statistical Analysis (“DMSA”) l As of June 30, 2023, our DMSA team had over 800 professionals based in China, South Korea, the United States and India l As of June 30, 2023, we had 296 DMSA customers and 859 ongoing DMSA projects l The project ser
Slide 21: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Decentralized Clinical Trials（“DCTs”） l In the first half of 2023, Tigermed Decentralized Clinical Trials (“DCTs”) Solutions were fully or partially applied in multiple projects covering therapeutic areas such as oncology, Alzheimer’s disease, migraine, diabetes an
Slide 22: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Site Management (“SMO”) l As of June 30, 2023, we had 1,776 ongoing site management projects and completed 105 site management projects l As of June 30, 2023, we had over 2,800 Clinical Research Coordinators (“CRC”s), covering more than 140 cities across China l Pr
Slide 23: Other Updates
O04 Other Updates
Slide 24: Updates of Investment Activities
Updates of Investment Activities Realized Investment Gain and Fair Value Gain(1) (RMB mm) 529.8 l Portfolio included 158 companies in the healthcare industry and 59 investment funds as of June 30, 2023 413.3 l RMB 10,633.3 mm balance as of June 30, 2023 l Invested RMB 239.3 mm in unlisted equities;
Slide 25: Employee Base
Employee Base Total employees increased to 9,455 as of June 30, 2023 from 9,233 as of December 31, 2022 Employees Mix by Function(1) Employees Mix by Geography(1) Management and Overseas and Hong Kong China, Macau China, Taiwan China administration Marketing and business 550 1,525 development 6% 429
Slide 26: Opening of International Headquarters in Hong Kong
Opening of International Headquarters in Hong Kong l Our International Headquarters was officially opened in Hong Kong on August 16, 2023 l This is another milestone in the Group’s international operation, following the establishment of a subsidiary in Hong Kong in September 2011 and our listing on
Slide 27: Appendix
05 Appendix
Slide 28: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss Year ended June 30, (RMB 000s) 2022 2023 Revenue 3,594,209 3,710,850 Cost of services (2,175,881) (2,244,568) Gross profit 1,418,328 1,466,282 Other income 128,757 147,146 Other gains and losses, net 468,609 571,836 Impairment losses (28,411) (29,777) Selling
Slide 29: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (RMB 000s) As of December 31, 2022 As of June 30, 2023 NON-CURRENT ASSETS 16,341,353 17,692,426 Property, plant and equipment 976,679 1,049,760 Intangible assets 276,147 270,413 Goodwill 2,485,018 2,549,178 Right-of-use assets 622,354 584,058 Interests in
Slide 30: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) (RMB 000s) As of December 31, 2022 As of June 30, 2023 CURRENT LIABILITIES 3,729,569 4,633,250 Trade and other payables 717,950 1,149,121 Contract liabilities 939,765 876,381 Bank borrowings 1,868,215 2,390,088 Income tax payables 85,875 98,295 L
Slide 31: 300347.SZ / 3347.HK
300347.SZ / 3347.HK Hangzhou Tigermed Consulting Co., Ltd. www.tigermedgrp.com
Hangzhou Tigermed Consulting — H1 2023 Earnings Presentation on 6ix