Investment in an Equity Investee (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Investment in an Equity Investee |
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| Summary of composition of equity investees |
| | | | | | | June 30, | | December 31, | | | 2025 | | 2024 | | | | (in US$’000) | Shanghai Hutchison Pharmaceuticals Limited (“SHPL”) (note) | | 3,645 | | 77,765 |
Note: SHPL is a private company with no quoted market price available for its shares.
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| Summary of balance sheets for SHPL |
| | | | | | | June 30, | | December 31, | | | 2025 | | 2024 | | | | (in US$’000) | Current assets | | 215,248 | | 213,707 | Non-current assets | | 65,629 | | 67,561 | Current liabilities | | (210,965) | | (126,154) | Non-current liabilities | | (5,890) | | (3,858) | Net assets | | 64,022 | | 151,256 |
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| Summary of statements of operations for SHPL |
| | | | | | | Six Months Ended June 30, | | | 2025 | | 2024 | | | | (in US$’000) | Revenue | | 233,326 | | 225,208 | Gross profit | | 173,127 | | 166,758 | Interest income | | 493 | | 338 | Profit before taxation | | 81,754 | | 80,213 | Income tax expense (note (a)) | | (12,577) | | (12,294) | Net income (note (b)) | | 69,177 | | 67,919 |
Notes: (a) | The main entity within the SHPL group has been granted the High and New Technology Enterprise status. Accordingly, the entity was eligible to use a preferential income tax rate of 15% for the six months ended June 30, 2025 and 2024. |
(b) | Net income is before elimination of unrealized profits on transactions with the Group. The amounts eliminated were approximately US$584,000 and US$152,000 for the six months ended June 30, 2025 and 2024 respectively. |
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| Summary of reconciliation of the financial information presented to the carrying amount of investment in SHPL |
| | | | | | | 2025 | | 2024 | | | | (in US$’000) | Opening net assets as at January 1 | | 151,256 | | 91,628 | Net income | | 69,177 | | 67,919 | Dividend declared | | (157,274) | | — | Deemed distribution | | — | | (690) | Other comprehensive income/(loss) | | 863 | | (2,573) | Closing net assets as at June 30 | | 64,022 | | 156,284 | Group’s share of net assets | | 3,201 | | 78,142 | Discounting on dividend payable | | 212 | | — | Goodwill | | 279 | | 2,744 | Elimination of unrealized profits on downstream sales | | (47) | | (367) | Carrying amount of investment as at June 30 | | 3,645 | | 80,519 |
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