Crystal Pacific (00575) announced its 2023 results, with revenue of US$291,000, an increase of 1.55 times over the previous year...
According to the Zhitong Finance App, Li Jing Pacific (00575) announced its 2023 results, with revenue of US$291,000, an increase of 1.55 times over the previous year; the loss due to the company's shareholders was about US$2.55 million, a decrease of 31.24% over the previous year; and the loss per share was 11.13 US cents.
According to the announcement, the losses were mainly due to total amortization expenses for intangible assets of about US$22.18 million (non-cash items); the Group's operating and R&D expenses of approximately US$6.07 million; and impairment losses of intangible assets and use-of-use assets of approximately US$1.52 million and US$1.15 million (non-cash items), respectively, which were partially offset by a tax credit of approximately US$5.41 million for deferred tax liabilities.
In 2023, the company successfully completed phase 3 randomized clinical research in China, achieving an important milestone. All four common major endpoints were successfully reached, discussions with the US Food and Drug Administration on the evaluation of special programs progressed, the European Medicines Agency approved a new Fortacin third-party manufacturer, and Fortacin's major re-launch in France, Germany, Italy and Portugal, bringing royalties. Finally, DLI launched SenoClock (and SenoClock Gold), a SaaS platform carrying all aging clocks. Although the company has made significant progress in achieving its stated goals, it is also facing challenges such as high inflation, a high interest rate environment, and economic and geopolitical uncertainty.