Genetron Health Announces Unaudited Fourth Quarter and Full Year 2021 Financial Results
03/29/2022 - 07:26 AM
BEIJING, March 29, 2022 (GLOBE NEWSWIRE) -- Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, today announced its unaudited preliminary financial results for the fourth quarter and full year ended December 31, 2021.
2021 and Recent Business Highlights
Therapy Selection: As of December 31, 2021, the Company had 58 hospital partners, of which 30 were IVD hospital partners. Genetron Health is continuing to enhance its in-hospital sales effort. Early Screening: The Company successfully introduced HCCscreen™ in China as an LDT service for hepatocellular carcinoma (HCC), along with establishing collaborations with channel partners involving government procurements, medical examination centers, hospitals, and online platforms. After reporting HCCscreen™ prospective cohort study data in March 2021, the Company has broadened its registrational strategy for its early screening program with two clinical trials. The enrollment of subjects in the clinical trial of the PCR-based assay, HCCscan, is currently on track, with five participating institutions already started as of the date hereof. The Company currently plans to enroll subjects for the clinical trial of NGS-based HCCscreen™ around late second quarter in 2022. The Company developed a multi-omics blood-based CRC early screening assay, with preliminary retrospective data showing >91% sensitivity and 95% specificity. Full details are expected to be published in 2022. MRD: Genetron Health formed a co-development agreement with AstraZeneca R&D China for personalized MRD tests for solid tumors in China. Our partner plans to incorporate the co-developed tests for China-specific studies. This is an exclusive, multi-year collaboration between both parties. Published MRD assay data based on Mutation Capsule: Gastric cancer data in the Journal of Hematology & Oncology 0.001% tumor DNA from peritoneal lavage fluid samples for precise prediction of peritoneal dissemination. Locally advanced rectal cancer data in eBioMedicine, part of THE LANCET Discovery Science : Analysis on different MRD approaches after neoadjuvant therapy. HCC data: Publication has been accepted for a high impact journal and would be available in the next few months The Company formed an exclusive agreement with Fosun Pharma to commercialize Seq-MRD®. The partnership marks the launch of Genetron Health’s first product for hematologic cancer and the first validated NGS-based MRD detection assay in the China market. Companion Diagnostics (CDx): The Company formed a collaboration agreement with HUTCHMED (China) for the joint development of a CDx test for ORPATHYS® (savolitinib) for NSCLC in China, using Genetron Health’s approved NGS-based 8-gene Lung Cancer Assay (Tissue). Onco Panscan, the Company’s CE-marked comprehensive genomic profiling assay, has passed the type testing in China. Patient enrollment for the registrational trial is planned to begin in late second quarter in 2022. AYVAKIT® (avapritinib) CDx kit, developed in partnership with CStone Pharmaceuticals, has entered the NMPA priority review and approval process in China. Other IVD Pipeline: Thyroid Basic, a PCR-based assay under development for molecular classification and prognosis for thyroid cancer, is undergoing a registrational trial at four clinical sites. The trial is expected to complete in 2022 with potential IVD approval in 2023. New Patent Issuance: Genetron Health’s innovative Mutation Capsule technology, a method for detecting mutation and methylation of tumor specific genes in ctDNA, was granted an invention patent (201910983038.8) by the China National Intellectual Property Administration. Fourth Quarter and Full Year 2021 Financial Highlights
Recorded total revenue of RMB146.9 million (US$23.0 million ) in the fourth quarter of 2021 and RMB532.0 million (US$83.5 million ) for the full year of 2021, representing 9.6% and 25.3% increases over the same periods in 2020, respectively. IVD revenue was RMB44.1 million (US$6.9 million ) in the fourth quarter of 2021 and RMB 154.5 million (US $24.3 million ) for the full year of 2021, representing 66.4% and 64.4% increases over the same periods in 2020, respectively. LDT revenue was RMB85.9 million (US$13.5 million ) in the fourth quarter of 2021 and RMB337.8 million (US$53.0 million ) for the full year of 2021, representing an 11.4% decrease and a 15.8% increase over the same periods in 2020, respectively. Development services revenue was RMB16.9 million (US$2.7 million ) in the fourth quarter of 2021 and RMB39.6 million (US$6.2 million ) for the full year of 2021, representing 60.9% and 2.0% increases over the same periods in 2020, respectively. Gross margin increased to 63.5% for the full year 2021, compared to 61.3% for the year 2020. “Throughout 2021 we experienced strong growth led by our in-hospital IVD sales, advanced our early screening registrational strategy for hepatocellular carcinoma, developed a multi-omics blood-based CRC early screening assay, established partnerships with AstraZeneca R&D China and Fosun Pharma to develop and commercialize MRD products, and expanded the body of clinical evidence and publications that are expected to reinforce and support the clinical value of our tests. These accomplishments have positioned Genetron Health favorably to advance precision oncology diagnostics,” said Mr. Sizhen Wang, co-founder, Chairman and CEO of Genetron Health. “As we have communicated, the continued enforcement of the “zero COVID” strategy in China has created a challenging operating environment that we will continue to navigate. We plan to execute across the business in a catalyst rich 2022 by introducing new products to the market, advancing our innovative pipeline and providing key data and trial updates that will further differentiate our portfolio of diagnostics. We are confident that our solutions can address emerging medical needs in China, and we expect to witness a significant long-term growth potential, amid a favorable macro environment where the government policy prioritizes optimal healthcare for citizens.”
Fourth Quarter 2021 Unaudited Financial Results
Total revenue increased by 9.6% to RMB146.9 million (US$23.0 million ) in the fourth quarter of 2021 from RMB133.9 million in the same period of 2020.
Diagnosis and monitoring revenue increased by 5.3% to RMB130.0 million (US$20.4 million ) in the fourth quarter of 2021 from RMB123.5 million for the same period in 2020. The increase was primarily driven by the growth in revenue generated from the sale of IVD products, partially offset by a decrease in revenue generated from the provision of LDT services.
Revenue generated from the provision of LDT services decreased by 11.4% to RMB85.9 million (US$13.5 million ) in the fourth quarter of 2021 from RMB96.9 million in the same period of 2020. Approximately 5,880 units of LDT diagnostic tests were sold in the fourth quarter of 2021, representing an increase of 10.1% compared to the number of LDT diagnostic tests sold in the same period of 2020. Sales from the Company’s liquid biopsy early screening product HCCscreen™ were also included in the fourth quarter sales of LDT services. Revenue generated from the sale of IVD products increased by 66.4% to RMB44.1 million (US$6.9 million ) in the fourth quarter of 2021 from RMB 26.5 million in the same period of 2020. The increase was driven by sales of the Genetron S5 instrument and 8-gene Lung Cancer Assay (Tissue). The following table sets forth the number of the Company’s contracted in-hospital partners as of the end of the periods presented:
2020 1Q21 2Q21 3Q21 4Q21 IVD in-hospital partners 22 23 28 29 30 2020 1Q21 2Q21 3Q21 4Q21 Total in-hospital partners(1) 40 42 50 54 58 Note:
Revenue generated from development services increased by 60.9% to RMB16.9 million (US$2.7million ) in the fourth quarter of 2021 from RMB10.5 million in the same period of 2020. The increase was primarily driven by the growth in revenue generated from biopharmaceutical services.
Gross profit was RMB83.7 million (US$13.1 million ) in the fourth quarter of 2021, compared to RMB84.1 million in the same period of 2020. Gross margin decreased to 57.0% in the fourth quarter of 2021, compared to 62.8% in the same period of 2020, based on temporary impact resulting from new promotional activities.
Operating expenses increased by 54.7% to RMB267.5 million (US$42.0 million ) in the fourth quarter of 2021 from RMB173.0 million in the same period of 2020.
Selling expenses increased by 39.5% to RMB100.3 million (US$15.7 million ) in the fourth quarter of 2021 from RMB72.0 million in the same period of 2020. The increase was primarily driven by higher headcount to expand Genetron Health’s sales teams. Selling expenses as a percentage of revenue increased to 68.3% in the fourth quarter of 2021 from 53.7% in the same period of 2020.
Administrative expenses increased by 46.2% to RMB64.8 million (US$10.2 million ) in the fourth quarter of 2021 from RMB44.3 million in the same period of 2020. The increase was mainly driven by higher headcount and professional fees. Administrative expenses as a percentage of revenue increased to 44.1% in the fourth quarter of 2021 from 33.1% in the same period of 2020.
Research and development expenses increased by 61.3% to RMB85.5 million (US$13.4 million ) in the fourth quarter of 2021 from RMB53.0 million in the same period of 2020. The increase was primarily driven by higher research and development headcount and related expenses, as well as the Company’s continued efforts in the development of MRD tests, and clinical activities related to early screening and key product such as Onco Panscan. Research and development expenses as a percentage of revenue increased to 58.2% in the fourth quarter of 2021 from 39.5% in the same period of 2020.
As a result of the above, operating loss increased to RMB183.8 million (US$28.8 million ) in the fourth quarter of December 31, 2021 from RMB88.9 million in the same period of 2020.
Finance income-net increased to RMB18.6 million (US$2.9 million ) in the fourth quarter of 2021 from RMB15.6 million in the same period of 2020. The increase was primarily due to foreign currency exchange gains.
Loss for the period was RMB165.3 million (US$25.9 million ) for the three months ended December 31, 2021, compared to RMB73.2 million for the same period of 2020.
Non-IFRS loss for the period, defined as loss for the period excluding share-based compensation expenses and fair value loss of financial instruments with preferred rights was RMB153.1 million (US$24.0 million ) for the three months ended December 31, 2021, compared to RMB62.5 million for the same period of 2020. Please refer to the section titled “Non-IFRS Financial Measures” in this press release for details.
Basic loss per share attributable to owners of the company was RMB0.35 (US$0.06) for the fourth quarter of 2021, compared with a basic loss per share attributable to owners of the company of RMB0.16 for the same period of 2020. Excluding share-based compensation expenses and fair value loss of financial instruments with preferred rights, non-IFRS basic loss per share attributable to owners of the company was RMB0.33 (US$0.05) for the fourth quarter of 2021, compared with non-IFRS basic loss per share attributable to owners of the company of RMB0.14 for the same period of 2020. Diluted loss per share attributable to owners of the company was equivalent to basic loss per share in respective periods. Each ADS represents five ordinary shares, par value US$0.00 002 per share. Please refer to the section titled “Non-IFRS Financial Measures” in this press release for details.
Full Year 2021 Financial Results
Total revenue increased by 25.3% to RMB532.0 million (US$83.5 million ) in 2021 from RMB424.5 million in 2020.
Diagnosis and monitoring revenue increased by 27.7% to RMB492.4 million (US$77.3 million ) in 2021 from RMB385.7 million in 2020. The increase was driven by the growth in the revenue generated from both the provision of LDT services and the sale of IVD products.
Revenue generated from the provision of LDT services increased by 15.8% to RMB337.8 million (US$53.0 million ) in 2021 from RMB291.7 million in 2020. Approximately 24,360 units of LDT diagnostic tests were sold in 2021, representing an increase of 11.2% compared to the number of LDT diagnostic tests sold in 2020. Sales of LDT services also included sales of our early screening test, HCCscreen™, which has contributed to our revenue growth in 2021. Revenue generated from sale of IVD products increased by 64.4% to RMB154.5 million (US$24.3 million ) in 2021 from RMB94.0 million in 2020. The increase was driven by a growing number of assays and sequencing platforms sold in 2021, notably the Genetron S5 instrument and 8-gene Lung Cancer Assay (Tissue). Revenue generated from development services increased by 2.0% to RMB39.6 million (US$6.2 million ) in 2021 from RMB38.8 million in 2020. The increase was primarily driven by the growth in revenue generated from biopharmaceutical services, partially offset by a decrease in revenue generated from sequencing services.
Gross profit increased by 29.9% to RMB338.0 million (US$53.0 million ) in 2021 from RMB260.2 million in 2020. Gross margin increased to 63.5% in 2021, compared to 61.3% in 2020. In 2021, gross margin improvements were seen across all major business lines.
Operating expenses increased by 61.9% to RMB855.8 million (US$134.3 million ) in 2021 from RMB528.6 million in 2020.
Selling expenses increased by 39.0% to RMB343.2 million (US$53.9 million ) in 2021 from RMB 247.0 million in 2020, primarily due to increased headcount to expand Genetron Health’s core business as well as early screening sales teams. Selling expenses as a percentage of revenue increased to 64.5% in 2021 from 58.2% in 2020.
Administrative expenses increased by 79.7% to RMB227.0 million (US$35.6 million ) in 2021 from RMB126.3 million in 2020, primarily due to higher headcount and professional fees. Administrative expenses as a percentage of revenue increased to 42.7% in 2021 from 29.8% in 2020.
Research and development expenses increased by 70.4% to RMB254.0 million (US$39.9 million ) in 2021 from RMB149.0 million in 2020. The increase was primarily driven by higher research and development headcount and related expenses, as well as the Company’s continued efforts in the development of MRD tests, and clinical activities related to early screening and key product such as Onco Panscan. Research and development expenses as a percentage of revenue increased to 47.7% in 2021 from 35.1% in 2020.
As a result of the above, operating loss increased to RMB517.8 million (US$81.3 million ) for 2021, from RMB 268.4 million in 2020.
Finance income-net decreased to RMB15.3 million (US$2.4 million ) in 2021 from RMB22.7 million in 2020. The decrease was related to foreign currency exchange fluctuations.
Loss for the year was RMB502.6 million (US$78.9 million ) in 2021, compared to RMB3,069.0 million in 2020.
Non-IFRS loss for the year, defined as loss for the year excluding share-based compensation expenses and fair value loss of financial instruments with preferred rights, was RMB448.5 million (US$70.4 million ) for 2021, compared to RMB215.7 million in 2020. Please refer to the section titled “Non-IFRS Financial Measures” in this press release for details.
Basic loss per share attributable to owners of the company was RMB1.08 (US$0.17) for 2021, compared with a basic loss per share attributable to owners of the company of RMB10.18 for 2020. Excluding share-based compensation expenses and fair value loss of financial instruments with preferred rights, non-IFRS basic loss per share attributable to owners of the company was RMB0.96 (US$0.15) for 2021, compared with non-IFRS basic loss per share of RMB0.72 for 2020. Diluted loss per share attributable to owners of the company was equivalent to basic loss per share attributable to owners of the company for respective periods. Each ADS represents five ordinary shares, par value US$0.00 002 per share. Please refer to the section titled “Non-IFRS Financial Measures” in this press release for details.
Cash and cash equivalents and current financial assets at fair value were RMB790.5 million (US$124.0 million ) as of December 31, 2021.
Financial Guidance
In the first quarter of 2022, Genetron Health expects to grow its revenue to approximately RMB 106 million, or around 15.1% year-over-year growth. Genetron Health expects its full year 2022 revenue to be around RMB 585-638 million, representing 10-20% growth over its revenue in 2021.
Conference Call
A conference call and webcast to discuss the results will be held at 8:30 a.m. U.S. Eastern Time on March 29, 2022 (or at 8:30 p.m. Beijing Time on March 29, 2022). Interested parties may listen to the conference call by dialing numbers below:
United States: +1-833-239-5565 China Domestic: 400-820-5286 Hong Kong: +852-3018-6771 International: +65-6713-5590 Conference ID: 9419319
Participants are encouraged to dial into the call at least 15 minutes in advance due to high call volumes.
A simultaneous webcast of the conference call will be available on the “Events and Presentations” page of the Company’s IR website. A replay of the webcast will be available for 30 days following the event. For more information, please visit ir.genetronhealth.com.
Exchange Rate Information
All translations made in the financial statements or elsewhere in this press release made from RMB into United States dollars (“US$”) are solely for convenience and calculated at the rate of US$1.00 = RMB6.3726, representing the exchange rate as of December 30, 2021, set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate, or at any other rate, on December 30, 2021.
Non-IFRS Financial Measures
The Company uses non-IFRS loss and non-IFRS loss per share attributable to owners of the Company for the year/period, which are non-IFRS financial measures, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that non-IFRS loss and non-IFRS loss per share attributable to owners of the Company help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its loss for the year/period. The Company believes that non-IFRS loss and non-IFRS loss per share attributable to owners of the Company for the year/period provide useful information about its results of operations, enhance the overall understanding of its past performance and future prospects, and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.
Non-IFRS loss and non-IFRS loss per share attributable to owners of the Company for the year/period should not be considered in isolation or construed as an alternative to operating loss, loss for the year/period or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review non-IFRS loss and non-IFRS loss per share attributable to owners of the Company for the year/period and the reconciliation to their most directly comparable IFRS measures. Non-IFRS loss and non-IFRS loss per share attributable to owners of the Company for the year/period presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
Non-IFRS loss for the year/period represent loss for the year/period excluding share-based compensation expenses and fair value loss of financial instruments with preferred rights. Please see the “Unaudited Non-IFRS Financial Measures” included in this press release for a full reconciliation of non-IFRS loss for the year/period to loss for the year/period and non-IFRS loss per share attributable to owners of the Company for the year/period to loss per share attributable to owners of the Company for the year/period.
About Genetron Holdings Limited
Genetron Holdings Limited (“Genetron Health” or the “Company”) (NASDAQ: GTH) is a leading precision oncology platform company in China that specializes in cancer molecular profiling and harnesses advanced technologies in molecular biology and data science to transform cancer treatment. The Company has developed a comprehensive oncology portfolio that covers the entire spectrum of cancer management, addressing needs and challenges from early screening, diagnosis and treatment recommendations, as well as continuous disease monitoring and care. Genetron Health also partners with global biopharmaceutical companies and offers customized services and products. For more information, please visit ir.genetronhealth.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor Relations Contact US: hoki.luk@genetronhealth.com
Philip Trip Taylorir@genetronhealth.com
Media Relations Contact yanrong.zhao@genetronhealth.com
Edmond LococoEdmond.Lococo@icrinc.com genetron.pr@icrinc.com
GENETRON HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS For the three months ended For the year ended December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 RMB’000 RMB’000 US$’000 RMB’000 RMB’000 US$’000 Revenue 133,944 146,863 23,046 424,485 531,950 83,475 Cost of revenue (49,820 ) (63,144 ) (9,909 ) (164,268 ) (193,983 ) (30,440 ) Gross profit 84,124 83,719 13,137 260,217 337,967 53,035 Selling expenses (71,959 ) (100,349 ) (15,747 ) (246,959 ) (343,161 ) (53,850 ) Administrative expenses (44,349 ) (64,840 ) (10,175 ) (126,318 ) (227,001 ) (35,622 ) Research and development expenses (52,969 ) (85,450 ) (13,409 ) (148,999 ) (253,950 ) (39,850 ) Net impairment losses on financial and contract assets (12,746 ) (13,291 ) (2,086 ) (14,843 ) (37,032 ) (5,811 ) Other income/(loss) - net 9,039 (3,616 ) (566 ) 8,526 5,329 836 Operating expenses (172,984 ) (267,546 ) (41,983 ) (528,593 ) (855,815 ) (134,297 ) Operating loss (88,860 ) (183,827 ) (28,846 ) (268,376 ) (517,848 ) (81,262 ) Finance income 17,268 18,789 2,948 28,330 20,501 3,217 Finance costs (1,630 ) (229 ) (36 ) (5,627 ) (5,251 ) (824 ) Finance income - net 15,638 18,560 2,912 22,703 15,250 2,393 Fair value loss of financial instruments with preferred rights - - - (2,823,370 ) - - Loss before income tax (73,222 ) (165,267 ) (25,934 ) (3,069,043 ) (502,598 ) (78,869 ) Income tax expense - - - - - - Loss for the period/year (73,222 ) (165,267 ) (25,934 ) (3,069,043 ) (502,598 ) (78,869 ) Loss attributable to: Owners of the Company (73,222 ) (162,690 ) (25,530 ) (3,069,043 ) (496,238 ) (77,871 ) Non-controlling interests - (2,577 ) (404 ) - (6,360 ) (998 ) (73,222 ) (165,267 ) (25,934 ) (3,069,043 ) (502,598 ) (78,869 ) Loss per share for loss attributable to owners of the company RMB RMB USD RMB RMB USD -Basic and diluted (0.16 ) (0.35 ) (0.06 ) (10.18 ) (1.08 ) (0.17 ) Loss per ADS for loss attributable to owners of the company -Basic and diluted (0.80 ) (1.76 ) (0.28 ) (50.92 ) (5.39 ) (0.85 ) Shares used in loss per share computation: -Basic and diluted 456,621,292 462,785,013 462,785,013 301,379,911 460,547,499 460,547,499 ADS used in loss per ADS computation: -Basic and diluted 91,324,258 92,557,002 92,557,002 60,275,982 92,109,499 92,109,499
GENETRON HOLDINGS LIMITED UNAUDITED NON-IFRS FINANCIAL MEASURES For the three months ended For the year ended December 31, 2020 December 31, 2021 December 31, 2020 December 31, 2021 RMB’000 RMB’000 US$’000 RMB’000 RMB’000 US$’000 Loss for the period/year (73,222 ) (165,267 ) (25,934 ) (3,069,043 ) (502,598 ) (78,869 ) Adjustments: Share-based compensation 10,729 12,144 1,906 29,951 54,144 8,497 Fair value loss of financial instruments with preferred rights - - - 2,823,370 - - Non-IFRS Loss (62,493 ) (153,123 ) (24,028 ) (215,722 ) (448,454 ) (70,372 ) Attributable to: Owners of the Company (62,493 ) (150,546 ) (23,624 ) (215,722 ) (442,094 ) (69,374 ) Non-controlling interests - (2,577 ) (404 ) - (6,360 ) (998 ) (62,493 ) (153,123 ) (24,028 ) (215,722 ) (448,454 ) (70,372 ) Non-IFRS loss per share for loss attributable to owners of the company RMB RMB USD RMB RMB USD -Basic and diluted (0.14 ) (0.33 ) (0.05 ) (0.72 ) (0.96 ) (0.15 ) Non-IFRS loss per ADS (5 ordinary shares equal to 1 ADS) for loss attributable to owners of the company -Basic and diluted (0.68 ) (1.63 ) (0.26 ) (3.58 ) (4.80 ) (0.75 ) Shares used in non-IFRS loss per share computation: -Basic and diluted 456,621,292 462,785,013 462,785,013 301,379,911 460,547,499 460,547,499 ADS used in non-IFRS loss per ADS computation: -Basic and diluted 91,324,258 92,557,002 92,557,002 60,275,982 92,109,499 92,109,499
GENETRON HOLDINGS LIMITED UNAUDITED REVENUE AND SEGMENT INFORMATION Diagnosis and monitoring -provision of LDT services Diagnosis and monitoring -sale of IVD products Development services Total RMB’000 RMB’000 RMB’000 RMB’000 Three months ended December 31, 2020 Revenue 96,948 26,514 10,482 133,944 Segment profit 67,209 16,439 476 84,124 Three months ended December 31, 2021 Revenue 85,885 44,112 16,866 146,863 Segment profit 55,463 24,300 3,956 83,719 Year ended December 31, 2020 Revenue 291,702 93,982 38,801 424,485 Segment profit 198,170 60,266 1,781 260,217 Year ended December 31, 2021 Revenue 337,844 154,543 39,563 531,950 Segment profit 231,186 99,993 6,788 337,967
GENETRON HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, 2020 As of December 31, 2021 RMB’000 RMB’000 US$’000 ASSETS Non-current assets Property, plant and equipment 76,891 110,285 17,306 Right-of-use assets 59,706 52,074 8,172 Intangible assets 12,265 20,695 3,247 Financial assets at fair value through profit or loss 19,609 49,780 7,812 Prepayments 15,362 37,610 5,902 Total non-current assets 183,833 270,444 42,439 Current assets Inventories 24,971 35,603 5,587 Contract assets 1,112 7,775 1,220 Other current assets 36,500 30,705 4,818 Trade receivables 164,592 282,113 44,270 Other receivables and prepayments 42,420 97,895 15,361 Amounts due from related parties 214 597 94 Financial assets at fair value through profit or loss 140,294 151,443 23,765 Derivative financial instruments 196 2,002 314 Cash and cash equivalents 1,375,766 639,042 100,280 Total current assets 1,786,065 1,247,175 195,709 Total assets 1,969,898 1,517,619 238,148
GENETRON HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS （ CONTINUED) As of December 31, 2020 As of December 31, 2021 RMB’000 RMB’000 US$’000 LIABILITIES Non-current liabilities Borrowings 5,493 - - Lease liabilities 43,016 33,865 5,315 Other non-current liabilities - 8,612 1,351 Total non-current liabilities 48,509 42,477 6,666 Current liabilities Trade payables 34,071 55,767 8,751 Contract liabilities 8,417 11,962 1,877 Other payables and accruals 111,164 157,232 24,673 Amounts due to related parties 24 3 1 Borrowings 58,583 19,554 3,068 Lease liabilities 16,585 20,572 3,228 Total current liabilities 228,844 265,090 41,598 Total liabilities 277,353 307,567 48,264 Net assets 1,692,545 1,210,052 189,884 SHAREHOLDERS’ EQUITY Equity attributable to owners of the Company Share capital 59 61 9 Share premium 6,657,562 6,711,234 1,053,139 Other reserves (24,701 ) (69,091 ) (10,841 ) Accumulated losses (4,940,375 ) (5,436,613 ) (853,123 ) 1,692,545 1,205,591 189,184 Non-controlling interests - 4,461 700 Total shareholders’ equity 1,692,545 1,210,052 189,884
