2024-09-23-港交所-励晶太平洋_2024中期报告_82页_2mb

REPORT SUMMARY

Key Highlights and Financial Performance:

• Financial Overview: The Group recorded a significant recovery in losses for the six months ended 30 June 2024, with an attributable loss of approximately US$2.62 million compared to US$12.20 million during the same period in the previous year. Key cost drivers included R&D expenditure and G&A expenses.
• Capital Position: Capital deficiency improved slightly to approximately US$4.07 million as at 30 June 2024 versus US$1.55 million on the prior year date. The Group maintains a controlled cash position, with substantial reliance on financing arrangements and equity financing.
• Revenue Drivers: Primary revenue stream from patent licensing has declined due to the transition of rights to partners. The Group's subsidiaries continue clinical trials for its pharmaceutical pipeline (e.g., Senstend™ in China and Fortacin™ in the US).

Key Business Developments and Strategy:

• Drug Development: Progress was made in advancing Senstend™ with a manufacturing agreement secured for commercialization in China, and regulatory steps finalized to meet market entry goals. In the US, Fortacin™ is undergoing Phase III trials, with a select licensing deal executed to support commercialization in Japan.
• Strategic Focus: Management reassessed operational plans, focusing on cost control, selective M&A, and partnerships to bolster value. Deep Longevity continues to develop AI-based aging technologies.
• Corporate Actions: Key funding strategies include seeking loan extensions, exploring further equity financing, and evaluating operational efficiencies.

Outlook:
The outlook remains cautious, with plans centered on asset monetization, strategic relationships, and innovation in AI and pharmaceuticals. The Group will mitigate currency volatility and economic risks amid global uncertainty.