Tengshengbo Medicine-B (02137.HK) announced that during the six months ended June 30, 2024, the company's other income was RMB 709 million, a decrease of RMB 150 million or 17.5% compared to RMB 859 million in the six months ended June 30, 2023. This is mainly due to the decrease in income recognized for government subsidies.
During the six months ended June 30, 2024, R&D expenses were RMB 126.2 million, a decrease of RMB 76.0 million or 37.6% compared to RMB 202.2 million in the six months ended June 30, 2023. This decrease is mainly attributed to pipeline sorting and organizational optimization during the reporting period, which resulted in a decrease of RMB 36.6 million in third-party contracting costs and a decrease of RMB 36.4 million in employee costs.
During the six months ended June 30, 2024, the company incurred a loss of RMB 283.2 million, an increase of RMB 86.4 million or 43.9% compared to RMB 196.8 million in the six months ended June 30, 2023. The increase in loss is mainly attributed to other losses of RMB 115.4 million mainly related to the fair value loss on financial assets, partially offset by the decrease in R&D and administrative expenses.
