Tigermed Reports Third Quarter 2021 Results
Hangzhou, October 22, 2021 – Hangzhou Tigermed Consulting Co., Ltd. (stock code: 300347.SZ / 3347.HK), a leading provider of innovative clinical research solutions for biopharmaceutical and medical device industry, announces financial results for its third fiscal quarter of 2021.
This press release is for information and summary only and is not intended to provide any representation, in whole or in part, of the relevant matters. For further information, please refer to the 2021 third quarter report and relevant announcements published on the websites of the Shenzhen Stock Exchange (www.szse.cn ) and the Stock Exchange of Hong Kong (www.hkexnews.hk). The 2021 Third Quarter Report of the Company has not been audited.
According to the report, Tigermed achieved solid financial growth in the third quarter 2021, as highlighted below:
- Total revenue achieved 57.77% year-over-year growth to RMB 1,339 million during the Reporting Period.
- Net profit attributable to the shareholders of the company achieved 64.80% year-over-year growth to RMB 526 million.
- Net profit attributableto shareholders of the company after deduction of non-recurring profit and loss achieved 67.63% year-over-year growth to RMB 326 million.
During the reporting period, Tigermed continued to strengthen its own innovation and industrial cooperation. We launched Risk-Based Quality Management (“RBQM”) system and other digital technologies to empower ever-changing clinical development. We reached strategic cooperation with a number of partners and clinical research centers to build high level research eco-system and help accelerating pharmaceutical and biotech innovation. We actively shared our professional experience with global counterparts and showed Tigermed vitality to enable new drug development. And we continued to improved global reach by expanding our coverage to 46 countries in five continents around the world, providing tailored solutions to more than 2,100 global customers.
“During the third quarter of 2021, Tigermed maintained solid financial growth while continuously improving our integrated clinical research capabilities and international service layout”, said Ms. Xiaochun Cao, President of Tigermed. “We continued to earn our clients’ trust through our competitive high-quality services and efficient operations, empowering global new drug development to bring life-saving pharmaceutical products to market. Looking ahead, we will continue exploring cutting-edge technologies and innovative research platform to enable unbounded possibilities for our customers to bring groundbreaking medicines and treatment to patients.”
The information communicated herein contains certain statements that are or may be forward looking, including predictions about future events based on beliefs of the Company and information currently available to the management of the Company. By their nature forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future relating to, inter alia, the ability of the Company to compete effectively, the ability of the Company to develop new and market new services, the risks associated with listed subsidiaries of the Company, unforeseeable international tension, regulatory or governmental scrutiny in certain countries, the impact of emergencies and other force majeure events. Any investment in any securities issued by the Company will also involve certain risks. There may be additional material risks that are currently not considered to be material or of which the Company and its advisors or representatives are unaware. Against the background of these uncertainties, you should not rely on these forward-looking statements. The Company undertakes no obligation to update forward-looking statements or to adapt them to future events or developments.
Tigermed (Stock code: 300347.SZ/3347.HK) is a leading provider of innovative clinical research solutions across the full life cycle of biopharmaceutical and medical device products globally. With a broad portfolio of services and a promise of quality, from clinical development to commercialization, we are committed to moving our customers and patients through their development journey efficiently and cost-effectively. Tigermed currently represents a worldwide network of more than 80 subsidiaries and 170 offices and sites, with over 8,000 employees across 46 countries in Asia-Pacific, Europe, North & South America and Africa. We are devoted to building an integrated platform that enables boundless possibility for the healthcare industry, embracing challenges to fulfill our commitment to serve unmet patients’ needs, and eventually saving lives.