Welcome to our dedicated page for Hangzhou Tigerme news (Ticker: HNGZY), a resource for investors and traders seeking the latest updates and insights on Hangzhou Tigerme stock.
Hangzhou Tigermed Consulting Co., Ltd. reports news on its contract research organization business serving biopharmaceutical and medical device companies. Recurring updates cover annual and interim results, Clinical Trial Solutions, Clinical-related and Lab Services, multi-region clinical trial activity, and geographic performance across China and overseas markets.
Company developments also include completed acquisitions that expand medical imaging, clinical trial, bioanalytical, pharmacodynamics, and regional CRO capabilities; the opening of its international headquarters in Hong Kong; and technology initiatives such as the YiYa AI LLM platform for research and development services.
Hangzhou Tigermed Consulting reported strong financial results for the first half of 2022, achieving a 74.8% year-over-year growth in total revenue to RMB 3,594.2 million. The adjusted net profit attributable to owners rose by 26.6% to RMB 876.5 million. The company’s revenue from Clinical Trial Solutions surged by 110.1%, while overseas revenue doubled, increasing by 102.3%. As of June 30, 2022, Tigermed was managing 607 ongoing drug projects, including 207 international ones, and it ranked as the largest clinical service provider in China with a 12.5% market share.
Hangzhou Tigermed Consulting Co., Ltd. reported impressive 2021 annual results, achieving a 63.3% year-over-year revenue growth of RMB 5,213.5 million. The company's adjusted net profit attributable to owners rose by 60.6% to RMB 1,585.3 million. Significant revenue increases were noted in Clinical Trial Solutions (up 97.1%) and overseas markets (up 91.1%). New bookings surged 74.2% YoY, totaling RMB 9,645.5 million. In 2021, Tigermed expanded globally with over 8,300 employees across 52 countries, continuing to innovate in clinical research.
Tigermed, a leading clinical research organization based in Hangzhou, China, has been awarded the Frost & Sullivan 2021 China Contract Research Organization Competitive Strategy Leadership Award. This recognition highlights Tigermed's dedication to high standards and comprehensive services in the biopharmaceutical and medical device sectors. With over 8,000 employees and operations spanning 46 countries, Tigermed is positioned to drive growth in China's clinical CRO market.
Hangzhou Tigermed Consulting Co. reported impressive interim results for the six months ended June 30, 2021. Total revenue surged by 41.6% to RMB 2,056.4 million, while net profit increased by 52.0% to RMB 1,594.2 million. Adjusted non-IFRS net profit rose 69.8% to RMB 692.1 million, reflecting robust growth across clinical trial and laboratory services. New bookings soared 150.8% to RMB 5,074.8 million, showcasing strong demand in both domestic and overseas markets.
Hangzhou Tigermed Consulting Co., Ltd. reported robust annual results for 2020, reflecting a 13.9% revenue growth to RMB 3,192.3 million. Key drivers included a 12.8% increase in Clinical Trial Solutions revenue and a 14.9% rise in Clinical-related Services. Net profit surged 108.3% year-over-year to RMB 2,030.6 million. The company also saw a 44.9% growth in its backlog, totaling RMB 7,260.3 million. Despite COVID-19 challenges, operations resumed, and expansions occurred in various regions. Overall, Tigermed's strategic growth initiatives position it well in the clinical research sector.
On February 25, 2021, the China National Medical Products Administration granted conditional marketing authorization for the Ad5-nCoV vaccine, developed collaboratively by CanSino Biologics and a research team led by Professor Wei Chen. Tigermed played a crucial role as a clinical contract research organization, managing a multicenter Phase III clinical study across several countries, including Pakistan and Mexico, involving over 40,000 subjects. The interim results indicate the vaccine's efficacy at preventing symptomatic COVID-19 is approximately 65.28%, with a 90.07% efficacy against severe disease.