Gelonghui March 27 | Chuangsheng Group-B (06628.HK) announced its annual results. For the year ended December 31, 2023, revenue was reduced from RMB 101.9 million in 2022 to RMB 53.8 million, mainly due to a reduction in CDMO services. R&D expenditure increased from RMB 349.8 million in 2022 to RMB 382 million, mainly due to the progress of the company's main pipelines and optimal allocation of resources. Total losses and overall expenses during the year increased from RMB 417.7 million in 2022 to RMB 465.7 million, mainly due to R&D investment related to pipeline progress.

The company has established a diversified and differentiated molecular pipeline covering 13 types of tumors, osteopathies and nephropathy. Most candidate antibodies are developed within the company's antibody development platform, covering proven, partially validated, and novel biological pathways, and one candidate pipeline drug is obtained by authorized introduction.