According to the Zhitong Finance App, Keji Pharmaceutical-B (02171) announced the results for the year ended December 31, 2023. The group achieved R&D expenditure of 662 million yuan (RMB, same below) during the period, a year-on-year decrease of 2.74%; losses attributable to shareholders amounted to 748 million yuan, a year-on-year decrease of 16.19%; and a basic loss of 1.34 yuan per share.
According to the announcement, the main reason for the narrowing was the reduction in share-based remuneration, which totaled 14 million yuan for the year ended 31 December 2023, a decrease of 30 million yuan from 44 million yuan for the year ended 31 December 2022; reduced R&D expenses and reduced administrative expenses; and 30 million yuan in exchange losses for the year ended 31 December 2023, which had a net impact of 67 million yuan over the exchange loss of 97 million yuan for the year ended 31 December 2022.