Genetron Health Announces Unaudited Fourth Quarter and Full Year 2021 Financial Results
Genetron Holdings Limited (NASDAQ: GTH) reported its unaudited preliminary financial results for Q4 and full year 2021. Q4 revenue rose 9.6% to RMB146.9 million ($23.0 million), driven by a 66.4% increase in IVD revenue. Full year revenue grew 25.3% to RMB532.0 million ($83.5 million). While gross margin expanded to 63.5%, operating loss increased to RMB183.8 million ($28.8 million) due to rising operational costs. Genetron anticipates Q1 2022 revenue of approximately RMB106 million, projecting a full year 2022 revenue growth of 10-20% compared to 2021.
- Q4 revenue increased by 9.6% to RMB146.9 million ($23.0 million).
- Full year 2021 revenue rose 25.3% to RMB532.0 million ($83.5 million).
- IVD revenue jumped 66.4% in Q4 2021.
- Gross margin improved to 63.5% for 2021.
- Expecting Q1 2022 revenue growth of approximately 15.1% year-over-year.
- Operating loss widened to RMB183.8 million ($28.8 million) in Q4 2021.
- Administrative expenses surged 79.7% to RMB227.0 million ($35.6 million) in 2021.
- R&D expenses rose 70.4%, increasing operational costs significantly.
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 and95% 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: The personalized MRD assay showed sensitivity to detect
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
- Gastric cancer data in the Journal of Hematology & Oncology: The personalized MRD assay showed sensitivity to detect
- 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, representing9.6% and25.3% 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, representing66.4% and64.4% 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 an11.4% decrease and a15.8% 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, representing60.9% and2.0% increases over the same periods in 2020, respectively.
- IVD revenue was RMB44.1 million (US
- Gross margin increased to
63.5% for the full year 2021, compared to61.3% 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
Diagnosis and monitoring revenue increased by
- 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 of10.1% 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: (1) The number of total in-hospital partners include both sales of LDT services and IVD products. | |||||||||
Revenue generated from development services increased by
Gross profit was RMB83.7 million (US
Operating expenses increased by
Selling expenses increased by
Administrative expenses increased by
Research and development expenses increased by
As a result of the above, operating loss increased to RMB183.8 million (US
Finance income-net increased to RMB18.6 million (US
Loss for the period was RMB165.3 million (US
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
Basic loss per share attributable to owners of the company was RMB0.35 (US
Full Year 2021 Financial Results
Total revenue increased by
Diagnosis and monitoring revenue increased by
- 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 of11.2% 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
Gross profit increased by
Operating expenses increased by
Selling expenses increased by
Administrative expenses increased by
Research and development expenses increased by
As a result of the above, operating loss increased to RMB517.8 million (US
Finance income-net decreased to RMB15.3 million (US
Loss for the year was RMB502.6 million (US
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
Basic loss per share attributable to owners of the company was RMB1.08 (US
Cash and cash equivalents and current financial assets at fair value were RMB790.5 million (US
Financial Guidance
In the first quarter of 2022, Genetron Health expects to grow its revenue to approximately RMB 106 million, or around
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
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
Head of Investor Relations
Email: hoki.luk@genetronhealth.com
Phone: +1 (408) 891-9255
Philip Trip Taylor
Vice President | Gilmartin Group
ir@genetronhealth.com
Media Relations Contact
Yanrong Zhao
Genetron Health
yanrong.zhao@genetronhealth.com
Edmond Lococo
ICR
Edmond.Lococo@icrinc.com
Mobile: +86 138-1079-1408
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 | ||||||
FAQ
What were Genetron's fourth quarter 2021 revenue results?
How much revenue did Genetron generate in 2021?
What is Genetron's financial outlook for 2022?
What were Genetron's major financial challenges in 2021?
