Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Genetron Holdings Ltd |
Entity Central Index Key | 0001782594 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 441,810,100 |
Entity Voluntary Filers | No |
Entity Shell Company | false |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Entity Interactive Data Current | Yes |
Document Shell Company Report | false |
Entity Address, Country | CN |
ICFR Auditor Attestation Flag | false |
Document Accounting Standard | International Financial Reporting Standards |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Trading Symbol | GTH |
Title of 12(b) Security | American depositary shares, each ADS representing five ordinary shares, par value US$0.00002 per share |
Security Exchange Name | NASDAQ |
Ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares, par value US$0.00002 per share |
Security Exchange Name | NASDAQ |
No Trading Symbol Flag | true |
Consolidated Statements of Loss
Consolidated Statements of Loss ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥)¥ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019CNY (¥)¥ / shares | Dec. 31, 2018CNY (¥)¥ / shares | |
Statements [Line Items] | ||||
Revenue | ¥ 424,485 | $ 65,055 | ¥ 323,425 | ¥ 225,176 |
Cost of revenue | (164,268) | (25,175) | (178,435) | (132,450) |
Gross profit | 260,217 | 39,880 | 144,990 | 92,726 |
Selling expenses | (246,959) | (37,848) | (253,558) | (182,474) |
Administrative expenses | (126,318) | (19,359) | (117,169) | (88,233) |
Research and development expenses | (148,999) | (22,835) | (91,697) | (71,411) |
Net impairment losses on financial and contract assets | (14,843) | (2,275) | (2,733) | (658) |
Other income and gains - net | 8,526 | 1,307 | 13,297 | 17,074 |
Operating expenses | (528,593) | (81,010) | (451,860) | (325,702) |
Operating loss | (268,376) | (41,130) | (306,870) | (232,976) |
Finance income | 28,330 | 4,341 | 2,483 | 1,615 |
Finance costs | (5,627) | (862) | (11,704) | |
Finance income/(costs) - net | 22,703 | 3,479 | (9,221) | 1,615 |
- loss on fair value changes | (2,823,370) | (432,700) | (333,401) | (233,632) |
- other loss | (26,542) | |||
Loss before income tax | (3,069,043) | (470,351) | (676,034) | (464,993) |
Loss for the year | (3,069,043) | (470,351) | (676,034) | (464,993) |
Loss attributable to: | ||||
Owners of the Company | ¥ (3,069,043) | $ (470,351) | ¥ (676,034) | ¥ (464,993) |
Ordinary shares | ||||
Loss per share | ||||
-Basic and diluted | (per share) | ¥ (10.18) | $ (1.56) | ¥ (5.41) | ¥ (4.09) |
ADS | ||||
Loss per share | ||||
-Basic and diluted | (per share) | ¥ (50.92) | $ (7.80) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive loss ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Statement of comprehensive income [abstract] | ||||
Loss for the year | ¥ (3,069,043) | $ (470,351) | ¥ (676,034) | ¥ (464,993) |
Items that may be reclassified to profit or loss | ||||
Exchange differences on translation of foreign operations of the Company's subsidiaries | 10,325 | 1,582 | (1,824) | 141 |
Items that will not be reclassified to profit or loss | ||||
Changes in fair value of financial instruments with preferred rights due to own credit risk | (72) | (11) | (17,299) | (9,061) |
Exchange differences on translation of foreign operations of the Company | (161,467) | (24,746) | ||
Other comprehensive loss for the year, net of tax | (151,214) | (23,175) | (19,123) | (8,920) |
Total comprehensive loss for the year | (3,220,257) | (493,526) | (695,157) | (473,913) |
Total comprehensive loss attributable to: | ||||
Owners of the Company | ¥ (3,220,257) | $ (493,526) | ¥ (695,157) | ¥ (473,913) |
Consolidated Balance sheet
Consolidated Balance sheet ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Non-current assets | |||
Property, plant and equipment | ¥ 76,891 | $ 11,784 | ¥ 83,013 |
Right-of-use assets | 59,706 | 9,150 | 43,182 |
Intangible assets | 12,265 | 1,880 | 5,482 |
Financial assets at fair value through profit or loss | 19,609 | 3,005 | |
Prepayments | 15,362 | 2,354 | 12,679 |
Total non-current assets | 183,833 | 28,173 | 144,356 |
Current assets | |||
Inventories | 24,971 | 3,827 | 17,896 |
Contract assets | 1,112 | 170 | 1,020 |
Other current assets | 36,500 | 5,594 | 43,711 |
Trade receivables | 164,592 | 25,225 | 83,757 |
Other receivables and prepayments | 42,420 | 6,501 | 19,526 |
Amounts due from related parties | 214 | 33 | 1,064 |
Financial assets at fair value through profit or loss | 140,294 | 21,501 | 122,224 |
Derivative financial instruments | 196 | 30 | |
Cash and cash equivalents | 1,375,766 | 210,845 | 139,954 |
Total current assets | 1,786,065 | 273,726 | 429,152 |
Total assets | 1,969,898 | 301,899 | 573,508 |
Non-current liabilities | |||
Financial instruments with preferred rights | 2,106,334 | ||
Borrowings | 5,493 | 842 | 3,643 |
Lease liabilities | 43,016 | 6,592 | 29,124 |
Total non-current liabilities | 48,509 | 7,434 | 2,139,101 |
Current liabilities | |||
Trade payables | 34,071 | 5,222 | 49,955 |
Contract liabilities | 8,417 | 1,290 | 18,189 |
Other payables and accruals | 111,164 | 17,036 | 109,683 |
Amounts due to a related party | 24 | 4 | 34 |
Borrowings | 58,583 | 8,978 | 19,514 |
Lease liabilities | 16,585 | 2,542 | 15,363 |
Total current liabilities | 228,844 | 35,072 | 212,738 |
Total liabilities | 277,353 | 42,506 | 2,351,839 |
Net (liabilities)/assets | 1,692,545 | 259,393 | (1,778,331) |
SHAREHOLDERS' (DEFICIT)/EQUITY | |||
Share capital | 59 | 9 | 17 |
Share premium | 6,657,562 | 1,020,316 | |
Treasury shares | (3,578) | ||
Capital reserve | 0 | 0 | 0 |
Other reserves | (24,701) | (3,786) | 69,207 |
Accumulated losses | (4,940,375) | (757,146) | (1,843,977) |
Total shareholders' (deficit)/equity | ¥ 1,692,545 | $ 259,393 | ¥ (1,778,331) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity/(Deficit) ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) | Share capitalCNY (¥) | Share capitalUSD ($) | Treasury sharesCNY (¥) | Capital reserveCNY (¥) | Share-based compensation reserveCNY (¥) | Other reservesCNY (¥) | Other comprehensive lossesCNY (¥) | Accumulated lossesCNY (¥) |
Beginning Balance at Dec. 31, 2017 | ¥ (622,186) | ¥ (10,772) | ¥ 37,550 | ¥ 22,938 | ¥ 32,141 | ¥ (1,093) | ¥ (702,950) | |||
Comprehensive income/(loss) | ||||||||||
Loss for the year | (464,993) | (464,993) | ||||||||
Exchange differences | 141 | 141 | ||||||||
Changes in fair value of financial instruments with preferred rights due to own credit risk | (9,061) | (9,061) | ||||||||
Total comprehensive loss for the year | (473,913) | (8,920) | (464,993) | |||||||
Transactions with owners | ||||||||||
Vesting of restricted shares | 2,409 | 2,409 | (7,513) | 7,513 | ||||||
Share-based compensations | 29,644 | 29,644 | ||||||||
Total Transactions with owners | 32,053 | 2,409 | 22,131 | 7,513 | ||||||
Ending balance at Dec. 31, 2018 | (1,064,046) | (8,363) | 37,550 | 45,069 | 39,654 | (10,013) | (1,167,943) | |||
Comprehensive income/(loss) | ||||||||||
Loss for the year | (676,034) | (676,034) | ||||||||
Exchange differences | (1,824) | (1,824) | ||||||||
Changes in fair value of financial instruments with preferred rights due to own credit risk | (17,299) | (17,299) | ||||||||
Total comprehensive loss for the year | (695,157) | (19,123) | (676,034) | |||||||
Transactions with owners | ||||||||||
Issuance of ordinary shares | 18 | ¥ 18 | $ 3 | |||||||
Vesting of restricted shares | 2,409 | 2,409 | (7,513) | 7,513 | ||||||
Share-based compensations | 35,884 | 35,884 | ||||||||
Repurchase of ordinary shares | (57,439) | (1) | (35,174) | (22,264) | ||||||
Re-designation of treasury shares | 2,376 | (2,376) | ||||||||
Total Transactions with owners | (19,128) | 17 | 4,785 | (37,550) | 28,371 | (14,751) | ||||
Ending balance at Dec. 31, 2019 | (1,778,331) | 17 | 3 | (3,578) | 73,440 | 24,903 | (29,136) | (1,843,977) | ||
Comprehensive income/(loss) | ||||||||||
Loss for the year | (3,069,043) | $ (470,351) | (3,069,043) | |||||||
Exchange differences | (151,142) | (151,142) | ||||||||
Changes in fair value of financial instruments with preferred rights due to own credit risk | (72) | (11) | (72) | |||||||
Total comprehensive loss for the year | (3,220,257) | (493,526) | (151,214) | (3,069,043) | ||||||
Transfer of accumulated fair value change due to own credit risk of financial instruments with preferred rights upon conversion | 27,355 | 27,355 | (27,355) | |||||||
Transactions with owners | ||||||||||
Issuance of ordinary shares | 1,657,793 | 11 | 2 | 1,657,782 | ||||||
Conversion of financial instruments with preferred rights into ordinary shares | 4,999,811 | 31 | 4 | 4,999,780 | ||||||
Vesting of restricted shares | 3,578 | 3,578 | (8,283) | 8,283 | ||||||
Share-based compensations | 29,951 | 29,951 | ||||||||
Total Transactions with owners | 6,691,133 | 42 | 6,657,562 | ¥ 3,578 | 21,668 | 8,283 | ||||
Ending balance at Dec. 31, 2020 | ¥ 1,692,545 | $ 259,393 | ¥ 59 | $ 9 | ¥ 6,657,562 | ¥ 95,108 | ¥ 33,186 | ¥ (152,995) | ¥ (4,940,375) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Cash flows from operating activities | ||||
Cash used in operations | ¥ (300,897) | $ (46,115) | ¥ (196,957) | ¥ (201,016) |
Net cash used in operating activities | (300,897) | (46,115) | (196,957) | (201,016) |
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (36,655) | (5,618) | (21,323) | (43,910) |
Proceeds from sale of property, plant and equipment | 4,940 | |||
Purchase of intangible assets | (13,371) | (2,049) | (4,261) | (3,515) |
Purchase of wealth management products | (1,628,558) | (249,587) | (479,100) | (895,140) |
Redemption of wealth management products | 1,620,924 | 248,417 | 395,697 | 1,109,675 |
Investment income from wealth management products | 4,476 | 686 | 723 | 6,929 |
Purchase of equity security | (13,721) | (2,103) | ||
Purchase of other investment | (19,000) | (2,912) | ||
Purchase of derivative financial instruments | (68,078) | (10,433) | ||
Redemption of derivative financial instruments | 69,628 | 10,671 | ||
Loans to a related party | (5,000) | (43,550) | ||
Repayments of loans to a related party | 11,517 | 41,000 | ||
Others | (294) | (45) | ||
Net cash generated from/(used in) investing activities | (84,649) | (12,973) | (96,807) | 171,489 |
Cash flows from financing activities | ||||
Proceeds from issuance of ordinary shares | 1,676,816 | 256,983 | 18 | |
Proceeds from ADS depository | 23,069 | 3,535 | ||
Proceeds from issuance of financial instruments with preferred rights | 70,026 | 10,732 | 456,568 | 60,000 |
Issuance costs of financial instruments with preferred rights | (6,303) | (10,600) | ||
Repurchase of ordinary shares | (4,102) | (629) | (54,479) | |
Repurchase of financial instruments with preferred rights | (43,279) | |||
Proceeds from investors upon reorganization | 299,051 | 45,832 | 15,000 | |
Repayments to investors upon reorganization | (314,388) | (48,182) | ||
Proceeds from borrowings | 61,213 | 9,381 | 32,955 | |
Repayments of borrowings | (20,703) | (3,173) | (9,798) | |
Proceeds from loans from a related party | 35,000 | |||
Repayments of loans from a related party | (35,000) | |||
Principal elements of lease payments | (19,577) | (3,000) | (12,286) | |
Interests paid | (4,942) | (757) | (5,396) | |
Payments in relation to listing expenses | (21,691) | (3,324) | (1,269) | |
Others | (260) | (40) | ||
Net cash generated from financing activities | 1,744,512 | 267,358 | 371,731 | 49,400 |
Net increase (decrease) in cash and cash equivalents | 1,358,966 | 208,270 | 77,967 | 19,873 |
Cash and cash equivalents at beginning of year | 139,954 | 21,449 | 62,126 | 42,030 |
Exchange differences on cash and cash equivalents | (123,154) | (18,874) | (139) | 223 |
Cash and cash equivalents at end of year | ¥ 1,375,766 | $ 210,845 | ¥ 139,954 | ¥ 62,126 |
General information, reorganiza
General information, reorganization and basis of presentation | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
General information, reorganization and basis of presentation | 1. General information, reorganization and basis of presentation 1.1 General information Genetron Holdings Limited (the “Company”) was incorporated in the Cayman Islands on April 9, 2018 as an exempted company with limited liability under the Companies Law (2020 Revision) of the Cayman Islands. The address of the Company’s registered office is at the office of Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, The Company, its subsidiaries, its controlled structured entities (“variable interest entities” or “VIEs”) and its subsidiaries (“subsidiaries of VIEs”) are collectively referred to as the “Group”. The Group is principally engaged in precision oncology testing and development services (the “Listing Business”) in the People’s Republic of China (“PRC” or “China”). 1.2 Reorganization Prior to the incorporation of the Company and the completion of the reorganization as described below, the Listing Business was carried out by Genetron Health (Beijing) Co., Ltd. (“Genetron Health”) and its subsidiaries (collectively the “Operating Companies”). Genetron Health was incorporated in the PRC on May 7, 2015 with Mr. Weiwu He, Mr. Sizhen Wang and Mr. Hai Yan considered as founding individuals (collectively the “Founders”). Incorporation of overseas companies and their subsidiary in the PRC For the purpose of preparation for the listing of the shares of the Company, the Group underwent a group reorganization (the “Reorganization”) to establish the Company as the ultimate holding company. The Reorganization mainly involved the following: (i) On April 9, 2018, the Company was incorporated in the Cayman Islands. (ii) On June 6, 2018, Genetron Health (Hong Kong) Company Limited (“Genetron HK”) was incorporated in Hong Kong (“HK”) as a direct wholly-owned subsidiary of the Company. (iii) On March 8, 2019, Genetron (Tianjin) Co., Ltd. (“Genetron TJ”) was established in the PRC with Genetron HK being its sole equity holder. (iv) Pursuant to a series of contractual arrangements in July 2019 (collectively referred to as the “Contractual Arrangements”) between Genetron TJ , Upon completion of the Reorganization, each of the equity holders of Genetron Health became the shareholders of the Company with substantially the same rights and shareholding percentages in Genetron Health before and after the Reorganization, and the Company became the holding company of the companies now comprising the Group. As of December 31, 2020, the Group has direct or indirect interests in the following principal subsidiaries, VIEs and subsidiaries of VIEs: Company name Place and date of incorporation Registered capital Effective equity interest held Principal activities Directly held Genetron HK Hong Kong, June 6, 2018 HK$ 10,000 100 % Investment holding Genetron Health, Inc. Delaware, United State s August 23, 2019 US$ 1 100 % Molecular diagnostic services Indirectly held : Genetron TJ Tianjin, PRC March 8, 2019 RMB 500,000,000 100 % Biotechnology development and technical services Shanghai Junran Bio-Technology Co., Ltd. Shanghai, PRC July 1, 2019 RMB 1,000,000 100 % Biotechnology development and technical services Genetron (Wuxi) Business Management Co., Ltd. Wuxi, PRC December 3, 2020 US$ 50,000,000 100 (Note % ) Investment holding VIEs: Genetron Health Beijing, PRC May 7, 2015 RMB 70,958,900 100 % Gene-related detection services Genetron (Wuxi) Biotech Co., Ltd. Wuxi, PRC October 14, 2020 RMB 20,000,000 100 % Gene-related detection services Subsidiaries of VIEs: Shanghai Genetron Bio-Technology Co., Ltd. Shanghai, PRC July 8, 2015 RMB 20,000,000 100 % Investment holding Hangzhou Genetron Bio- Technology Co., Ltd. Hangzhou, PRC October 8, 2015 RMB 10,000,000 100 % Investment holding Chongqing Genetron Bio- Technology Co., Ltd. Chongqing, PRC March 1, 2016 RMB 20,000,000 100 % Investment holding and IVD products sales Beijing Genetron Biotechnology Co., Ltd. Beijing, PRC March 11, 2016 RMB 20,000,000 100 % Investment holding Guangzhou Genetron Biotechnology Co., Ltd. Guangzhou, PRC July 4, 2019 RMB 10,000,000 100 % Investment holding Hangzhou Genetron Medical Laboratory Co., Ltd. Hangzhou, PRC April 24, 2014 RMB 10,000,000 100 % Gene-related detection services Beijing Genetron Medical Laboratory Co., Ltd. Beijing, PRC November 5, 2015 RMB 8,510,000 100 % Gene-related detection services Shanghai Genetron Medical Laboratory Co., Ltd. Shanghai, PRC December 14, 2015 RMB 30,000,000 100 % Gene-related detection services Chongqing Genetron Medical Laboratory Co., Ltd. Chongqing, PRC August 11, 2016 RMB 20,000,000 100 % Gene-related detection services Guangzhou Genetron Medical Laboratory Co., Ltd. Guangzhou, PRC July 8, 2019 RMB 10,000,000 100 % Gene-related detection services Genetron Health Technologies, Inc. Delaware, United State s April 28, 2015 US$ 10,000,000 100 % Research services Note: Legal ownership of 90% with the remaining 10% interests (“other investors”) redeemable upon occurrence of certain events not solely within control of the Group and thereby accounted for as financial liabilities at fair value through profit or loss by the Group. Investing funds of US$1,670,000 from the other investors were received in January 2021. Except for the VIEs and subsidiaries of VIEs which are controlled by the Company through Contractual Arrangements (Note 2.4.1(a)), other subsidiaries (including Genetron TJ and Genetron (Wuxi) Business Management Co., Ltd. which are collectively referred as “PRC Subsidiaries”) are controlled by the Company through direct or indirect equity ownerships. 1.3 Basis of presentation Immediately prior to and after the Reorganization, the Listing Business was operated by Genetron Health and its subsidiaries. Pursuant to the Reorganization, the Listing Business was transferred to and held by the Company through the Operating Companies. The Company had not been involved in any other business prior to the Reorganization and did not meet the definition of a business. The Reorganization was merely a reorganization of the Listing Business with no change in management of such business. Accordingly, the Group resulting from the Reorganization was regarded as a recapitalization of the Listing Business under the Operating Companies for the purpose of these financial statements. The financial statements of the Group have been prepared on a consolidated basis as if the Reorganization had occurred historically and are presented using the carrying values of the assets, liabilities and operating results of the Listing Business under the Operating Companies. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of significant accounting policies | 2. Summary of significant accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 2.1 Basis of preparation These consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). The financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets at fair value through profit or loss, derivative financial instruments and financial instruments with preferred rights. The financial statements were authorized for issue by the board of directors of the Company on April 9 2.2 New standards, amendments to standards and interpretations adopted by the Group The Group has applied the following for the first time for their annual reporting period commencing January 1, 2020: • Amendments to IAS 1 and IAS 8 Definition of Material • Amendments to IFRS 3 Definition of a Business • Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform • Amendments to IFRS 16 COVID-19-related • Revised Conceptual Framework for Financial Reporting The above amendments do not have any material impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. 2.3 New standards, amendments to standards and interpretations not yet adopted Effective for annual Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform — Phase 2 January 1, 2021 Amendments to IAS 16 Property, Plant and Equipment: Proceeds before intended use January 1, 2022 Amendments to IAS 37 Onerous Contracts – Cost of Fulfilling a Contract January 1, 2022 Amendments to IFRS 3 Reference to the Conceptual Framework January 1, 2022 Annual Improvements 2018–2020 cycle January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 Amendments to IAS 1 Classification of Liabilities as Current or Non- current January 1, 2023 There are no new standards, amendments to existing standards or interpretations that are not yet effective and would be expected to have a material impact to the Group. 2.4 Subsidiaries 2.4.1 Consolidation A subsidiary is an entity (including VIE, as stated in Note 1 above) over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. Intra-group transactions, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. (a) Subsidiaries controlled through Contractual Arrangements The PRC Subsidiaries have entered into Contractual Arrangements, including the Shareholder Voting Rights Entrustment Agreements, Spousal Consent Letters, Equity Interest Pledge Agreements, Exclusive Business Cooperation Agreements and Exclusive Option Agreements, with the VIEs and their equity holders. (i) Agreements that provide the Company with effective control over the VIEs Shareholder Voting Rights Entrustment Agreements Pursuant to the agreements among the PRC Subsidiaries, VIEs and the equity holders of VIEs, these equity holders irrevocably authorize the PRC Subsidiaries or any person(s) designated by the PRC Subsidiaries to act as his or her attorney-in-fact to exercise all of his or her rights as an equity holder of the VIEs, including, but not limited to, the right to call and attend shareholders’ meetings, execute and deliver any and all written resolutions and meeting minutes as a shareholder, vote by itself or by proxy on any matters discussed on shareholders’ meetings, sell, transfer, pledge or dispose of any or all of the shares, nominate, appoint or remove the directors, supervisors and senior management, and other shareholders rights conferred by the articles of association of the VIEs and the relevant laws and regulations. Spousal Consent Letters The spouse of each of Mr. Sizhen Wang and certain other individuals has signed spousal consent letters. Under the spousal consent letter, the spouse unconditionally and irrevocably waives any rights or entitlements whatsoever to such shares that may be granted to his/her pursuant to applicable laws and undertakes not to make any assertion of rights to such shares. The spouse agrees and undertakes that he/she will take all necessary actions to ensure the proper performance of the Contractual Arrangements, and will be bound by the Contractual Arrangements in case he/she obtains any equity of the VIEs due to any reason. Equity Interest Pledge Agreements Pursuant to the agreements among the PRC Subsidiaries and the equity holders of VIEs, the equity holders of VIEs have pledged 100% equity interest in the VIEs in favor of the PRC Subsidiaries to guarantee the performance by the VIEs and their equity holders of their obligations under the Exclusive Business Cooperation Agreements, the Exclusive Option Agreements and any other agreement to be executed among the PRC Subsidiaries, VIEs and the equity holders from time to time. If the VIEs or their equity holders breach their contractual obligations under the agreements, the PRC Subsidiaries, as pledgees, will have the right to dispose of the pledged shares entirely or partially. The equity holders of the VIEs also agreed, without the PRC Subsidiaries’ prior written consents, not to transfer the pledged shares, establish or permit the existence of any security interest or other encumbrance on the pledged shares, or dispose of the pledged shares by any other means, except by the performance of the Exclusive Option Agreements. (ii) Agreements that allow the Company to receive economic benefits from the VIEs Exclusive Business Cooperation Agreements Pursuant to the agreements between the PRC Subsidiaries and VIEs, the PRC Subsidiaries or their designated entities affiliated have the exclusive right to provide the VIEs with technical support, business support and consulting services in return for fees equal to 100% of the consolidated net profits of the VIEs. Without the PRC Subsidiaries’ prior written consents, the VIEs shall not, directly and indirectly, obtain the same or similar services as provided under the agreements from any third party, or enter into any similar agreement with any third party. The PRC Subsidiaries have the right to determine the service fee charged to the VIEs under the agreements by considering, among other things, the complexity of the services, the time spent by employees of the PRC Subsidiaries to provide the services, contents and commercial value of the service provided, as well as the benchmark price of similar services in the market. The PRC Subsidiaries will have the exclusive ownership of all intellectual property rights developed by performance of the agreements. (iii) Agreements that provide the Company with the option to purchase the equity interests in the VIEs Exclusive Option Agreements Pursuant to the agreements among the PRC Subsidiaries, VIEs an d In the opinion of the Company’s management, the Contractual Arrangements enable the PRC Subsidiaries and the Group to: • exercise effective control over the VIEs; • receive substantially all of the economic benefits of the VIEs; and • have an exclusive option to purchase all or part of the equity interest in and/or assets of the VIEs when and to the extent permitted by laws. The Group does not have any equity interests in the VIEs. As a result of the Contractual Arrangements, the Group has rights to variable returns from its involvement in the VIEs and has the ability to affect those returns through its power over the VIEs, and is thereby considered to control the VIEs. Consequently, the Company regards the VIEs as indirect subsidiaries under IFRS. The Group has included the financial position and results of the VIEs and their subsidiaries in the consolidated financial statements. There is currently no contractual arrangement that requires the Company to provide additional financial support to the VIEs. (b) Risks in relation to VIEs and subsidiaries of VIEs After completion of the Reorganization, a significant part of the Group’s business is conducted through VIEs and subsidiaries of VIEs. The Company becomes the primary beneficiary through the Contractual Arrangements. In the opinion of management, the Contractual Arrangements are in compliance with PRC laws and are legally enforceable. However, uncertainties regarding the interpretation and application of current and future PRC laws, regulations and rules could limit the Company’s ability to enforce the Contractual Arrangements. In March 2019, the National People’s Congress of the PRC adopted the PRC Foreign Investment Law, which became effective on January 1, 2020. Among other things, the PRC Foreign Investment Law defines the “foreign investment” as investment activities in China by foreign investors in a direct or indirect manner, including those circumstances explicitly listed above as establishing new projects or foreign invested enterprises or acquiring shares of enterprises in China, and other approaches of investment as stipulated by laws, administrative regulations or otherwise regulated by the State Council. The PRC Foreign Investment Law leaves uncertainty as to whether foreign investors’ controlling PRC onshore variable interest entities via contractual arrangements will be recognized as “foreign investment” and thus be subject to the restrictions/prohibitions on foreign investments. Current PRC laws and regulations impose certain restrictions or prohibitions on foreign ownership of companies that engage in the development and application of technologies for diagnosis and treatment of human stem cells and genes (“genomics business”), to which the precision oncology service of the Group relates. Pursuant to the Special Administrative Measures (Negative List) issued by the National Development and Reform Committee and Ministry of Commerce of the PRC on June 30, 2019, which came into force on July 30, 2019, certain industries are specifically prohibited for foreign investment, including genomics business. To comply with PRC laws and regulations, the Group conducts related business in China through VIEs. If the corporate structure of the Group or the Contractual Arrangements between the VIEs and subsidiaries of VIEs and their respective equity holders were found to be in violation of the current or future PRC laws and regulations, the PRC government could: • revoke the Group’s business and operating licenses; • require the Group to discontinue or restrict its operations; • restrict the Group’s right to collect revenues; • require the Group to restructure the operations, re-apply • impose additional conditions or requirements with which the Group may not be able to comply; or • take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business. The Company’s ability to conduct its business may be negatively affected if the PRC government carries out any of the aforementioned actions. As a result, the Company may not be able to consolidate its VIEs and subsidiaries of VIEs in its consolidated financial statements as it may lose the ability to exert effective control over them or it may lose the ability to receive economic benefits from them. For the year ended December 31, 2018 (and the period from January 1, 2019 to completion of the Reorganization in July 2019), the financial statements of VIEs and subsidiaries of VIEs were substantially the same stated with the financial statements of the Group since the Company and most other entities within the Group did not conduct any business until the Reorganization completion. Summarized financial information of the Group’s VIEs and subsidiaries of VIEs for the years ended December 31, 2019 and 2020: As at December 31, 2019 2020 2020 Non-current 138,033 169,152 25,924 Current assets 298,815 335,772 51,459 Total assets 436,848 504,924 77,383 Non-current 265,353 780,519 119,620 Current liabilities 169,522 229,062 35,105 Total liabilities 434,875 1,009,581 154,725 Year ended December 31, 2019 2020 2020 RMB’000 RMB’000 US$’000 Note 2.5(d) Revenue 323,425 424,485 65,055 Loss for the year (406,239 ) (236,102 ) (36,184 ) Net cash used in operating activities (192,068 ) (196,594 ) (30,129 ) Net cash used in from investing activities (96,807 ) (9,223 ) (1,414 ) Net cash generated from financing activities 238,061 200,767 30,769 Net decrease in cash and cash equivalents (50,814 ) (5,050 ) (774 ) The above includes intercompany balances and transactions which have been eliminated on the Company’s consolidated financial statements. As of December 31, 2019 and 2020, the total assets of the Group’s VIEs and subsidiaries of VIEs mainly include cash and cash equivalents, financial assets at fair value through profit or loss, trade receivables, other receivables and prepayments, inventories, property, plant and equipment as well as right-of-use (c) Business combination The Group applies the acquisition method to account for business combinations except for business combinations under common control. For acquisition method, the consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred in c The Group recognizes any non-controlling acquisition-by-acquisition non-controlling Acquisition-related costs are expensed as incurred. The excess of the consideration transferred, the amount of any non-controlling non-controlling There is no business combination or non-controlling 2.5 Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (“functional currency”). The financial statements are presented in Renminbi (“RMB”), which is the functional currency of most entities within the Group, unless otherwise stated. (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in profit or loss. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statements of loss within finance income/(costs). All other foreign exchange gains and losses are presented in the statements of loss within other income and gains/(losses). (c) Group companies The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • income and expenses for each statement of comprehensive income/(loss) are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and • all resulting currency translation differences are recognized in other comprehensive income/(loss). (d) Convenience translation Translations of the consolidated balance sheets, the consolidated statements of loss, comprehensive loss and cash flows from RMB into United States dollars (“US$”) as of and for the year ended December 31, 2020 are solely for the convenience of the readers and calculated at the rate of US$1.00=RMB6.5250 representing the exchange rate as of December 31, 2020 set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate, or at any other rate, on December 31, 2020. 2.6 Property, plant and equipment Property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred. Depreciation is calculated using the straight-line method to allocate their cost, net of their residual values, over their estimated useful lives or, in the case of leasehold improvements and certain leased plant and equipment, the shorter lease term as follows: Instruments and equipment 3-5 years Office equipment and furniture 3-5 Transporting equipment 4 years Leasehold improvements shorter of lease period or 3-5 years The assets’ residual values and useful lives are reviewed and adjusted if appropriate at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (Note 2.8). Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within other income and gains/(losses) in the statements of loss. 2.7 Intangible assets (a) Software Acquired software licenses are capitalized on the basis of the costs incurred to acquire and bring the specific software into usage. These costs are amortized using the straight-line method over their estimated useful lives of about 5-10 (b) Patented technologies Separately acquired patent technologies are shown at historical cost. Patent technologies acquired in a business combination are recognized at fair value at the acquisition date. They have finite useful lives based on the terms of patents and are subsequently carried at cost less accumulated amortization and impairment losses. (c) Other intangible assets Other intangible assets were recognized upon a historical acquisition of a subsidiary. It is amortized using the straight-line method over the estimated useful life of the intangible assets of 4 years. (d) Research and development The Group incurs costs and efforts on research and development activities. Research expenditures are charged to the profit or loss as an expense in the period the expenditure is incurred. Development costs are recognized as assets if they can be directly attributable to a newly developed service or product and all the following can be demonstrated: • the technical feasibility to complete the development project so that it will be available for use or sale; • the intention to complete the development project to use or sell the service or product; • the ability to use or sell the service or product; • the manner in which the development project will generate probable future economic benefits for the Group; • the availability of adequate technical, financial and other resources to complete the development project and use or sell the service or product; and • the expenditure attributable to the asset during its development can be reliably measured. The development cost of an internally generated intangible asset is the sum of the expenditure incurred from the date the asset meets the recognition criteria above to the date when it is available for use. The development costs capitalized in connection with the intangible asset include costs of materials and services used or consumed, employee costs incurred in the creation of the asset and an appropriate portion of relevant overheads. Capitalized development costs are amortized using the straight-line method over the life of the related service or product. Amortization shall begin when the asset is available for use. Development expenditures not satisfying the above criteria are recognized in the profit or loss as incurred. 2.8 Impairment of non-financial Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. No goodwill or intangible assets with an indefinite useful life were recognized during the reported periods. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial 2.9 Financial assets (a) Classification The Group classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through other comprehensive income (“OCI”) or through profit or loss), and • those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through OCI (“FVOCI”). The Group reclassifies debt investments when and only when its business model for managing those assets changes. (b) Recognition and derecognition Regular way purchases and sales of financial assets are recognized on trade date, being the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. (c) Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (“FVPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. (i) Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Group classifies its debt instruments: • Amortized cost: Assets that are held for collection of contractual cash flows, where those cash flows represent solely payments of principal and interest, are measured at amortized cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other income and gains/(losses). Impairment losses are presented as separate line item in the statements of loss. • FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other income and gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Impairment losses are presented as separate line item in the statements of loss. • FVPL: Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented within other income and gains/(losses) in the period in which it arises. (ii) Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss as other income and gains when the Group’s right to receive payments is established. Changes in the fair value of financial assets at FVPL are recognized in other income and gains/(losses) in the statements of loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. (d) Impairment The Group assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables and contract assets with no significant financing component, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the receivables. 2.10 Derivatives Derivatives are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. Trading derivatives are classified as a current asset or liability. The Group’s derivative instruments do not qualify for hedge accounting. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in profit or loss and are included in other income and gains/(losses). 2.11 Inventories Raw materials, work in progress and finished goods are stated at the lower of cost and net realizable value. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs and related production overheads (based on normal operating capacity). Costs of purchased inventories are determined after deducting rebates and discounts. Cost is determined using the weighted average method. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. 2.12 Trade and other receivables Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collection of trade and other receivables is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current Trade and other receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Group holds the trade and other receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. See Note 3.1(b) for a description of the Group’s impairment policies. 2.13 Cash and cash equivalents For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheets. 2.14 Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or awards are shown in equity as a deduction, net of tax, from the proceeds. 2.15 Trade and other payables These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method. Trade payables are unsecured with usual payment terms of 30 days. 2.16 Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. Borrowings are removed from the balance sheets when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. 2.17 Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Other borrowing costs are expensed in the period in which they are incurred. 2.18 Financial instruments with preferred rights Financial instruments with preferred rights issued by the Group are convertible into ordinary shares upon the closing of a qualified IPO or at the option of the holders and redeemable upon occurrence of certain future events. The Group designates the financial instruments with preferred rights as financial liabilities at fair value through profit or loss. They are initially recognized at fair value. Any directly attributable transaction costs are expensed in the consolidated statements of loss. Subsequent to initial recognition, the amount of change in the fair value of the financial instruments with preferred rights that is attributable to changes i |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Financial risk management | 3. Financial risk management 3.1 Financial risk factors The Group’s activities expose it to a variety of financial risks: market risk (including interest rate risk and exchange risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. Risk management is carried out by the senior management of the Group. (a) Market risk (i) Interest rate risk The Group’s interest rate risk primarily arises from wealth management products (Note 21(ii)), bank deposits (Note 23), borrowings (Note 28) and loans to/from related parties (Note 33(b)(ii)). Those carried at variable rates expose the Group to cash flow interest rate risk whereas those at fixed rates expose the Group to fair value interest rate risk. Interest amounts continue to be insignificant during the reported periods. (ii) Exchange risk The Group is exposed to exchange risk arising from foreign currency exposures, primarily with respect to US$. Foreign exchange risk arises when future commercial transactions or recognized assets or liabilities are denominated in a currency that is not the functional currency of the Group entity. The Group’s net result is not significantly impacted since transactions, assets and liabilities of each Group entity are mostly denominated in the functional currency of the respective entity. (b) Credit risk Credit risk primarily arises from wealth management products, cash and cash equivalents, trade and other receivables, amounts due from related parties and contract assets. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the balance sheets. The credit risk of wealth management products and cash and cash equivalents is limited because the counterparties are mainly state-owned or reputable commercial institutions located in the PRC and Hong Kong. For trade and other receivables, amounts due from related parties and contract assets, management makes periodic as well as individual assessments on the recoverability based on historical settlement records and past experience and adjusts for forward looking information on macroeconomic factors affecting the ability of the debtors to settle the receivables. The Group applies the simplified approach for the Group’s trade receivables and contract assets without significant financial component by using a lifetime expected loss provision. The trade receivables and contract assets relating to customers with known financial difficulties or with significant doubt on collection of receivables are assessed individually for provision for impairment allowance. As at December 31, 2020, the balance of loss allowance in respect of these individually assessed receivables was RMB2,036,000 (2019: RMB356,000). Management has assessed that, on the basis of lifetime expected credit loss approach, the expected credit loss % for trade receivables and contract assets with different groupings based on shared credit risk characteristics as follows: Within 2 months Between 2 months to 1 year Between 1 to 2 years Between 2 to 3 years After 3 Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2019 Expected loss rate 1 % 1 % 20 % 60 % 100 % Trade receivables and contract assets, gross 40,834 39,837 5,484 1,300 556 88,011 Loss allowance 392 398 1,107 781 556 3,234 Within 6 months Between 6 months to 1 year Between 1 to 2 years Between 2 to 3 After 3 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2020 Expected loss rate 5 % 11 % 20 % 65 % 100 % Trade receivables and contract assets, gross 118,104 41,047 21,304 1,562 83 182,100 Loss allowance 6,304 4,692 4,300 1,017 83 16,396 The contribution of sales of IVD products to the overall revenue mix increased in 2020. The expected loss rates are thereby adjusted to reflect the different credit risk characteristics, timing of settlements, etc. related to those customers (Note 19). In view of the history of cooperation with debtors and the sound collection history of other receivables and amounts due from related parties, management believes that the credit risk inherent in these outstanding receivables is not significant. There are no significant increases in credit risk of the receivables comparing with initial recognition and so the 12-month Loss allowance provisions for trade and other receivables and contract assets were disclosed in Note 19, Note 20 and Note 6 respectively. (c) Liquidity risk The Group aims to maintain sufficient cash to meet obligations falling due as well as operating and capital requirements. The table below analyzes the Group’s financial liabilities into relevant maturity groupings based on the remaining period at each year-end The amounts disclosed in the table are the contractual undiscounted cash flows except for financial instruments with preferred rights, which are presented on a fair value basis. Less than 1 year Between 1 and 2 years Between 2 and 5 years Over 5 Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2019 Financial instruments with preferred rights — 2,106,334 — — 2,106,334 Borrowings 21,009 3,293 607 — 24,909 Lease liabilities 16,788 13,308 19,439 — 49,535 Trade payables 49,955 — — — 49,955 Other payables 79,923 — — — 79,923 Amounts due to a related party 34 — — — 34 Total 167,709 2,122,935 20,046 — 2,310,690 As at December 31, 2020 Borrowings 60,689 5,779 — — 66,468 Lease liabilities 19,094 16,833 28,705 3,004 67,636 Trade payables 34,071 — — — 34,071 Other payables 56,206 — — — 56,206 Amounts due to a related party 24 — — — 24 Total 170,084 22,612 28,705 3,004 224,405 3.2 Capital management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Group monitors capital by regularly reviewing the capital structure. The Group may adjust the amount of dividends paid to shareholders, provide returns for shareholders, issue new shares or sell assets to repay borrowings. The Group monitors capital on the basis of the debt-to-adjusted as-if- 3.3 Fair value estimation The table below analyzes the Group’s financial instruments carried at fair value as at December 31, 2019 and 2020 by level of the inputs to valuation techniques used to measure fair value. Such inputs are categorized into three levels within a fair value hierarchy as follows: (i) Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). (ii) Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). (iii) Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). Level 1 Level 2 Level 3 Total Notes RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2019 Assets Financial assets at fair value through profit or loss - wealth management products 21(ii) — — 122,224 122,224 Liabilities Financial instruments with preferred rights 30 — — 2,106,334 2,106,334 As at December 31, 2020 Assets Financial assets at fair value through profit or loss - other investment 21(i) — — 19,609 19,609 - wealth management products 21(ii) — — 130,002 130,002 - equity security 21(iii) 10,292 — — 10,292 Derivative financial instruments 22 — 196 — 196 Total 10,292 196 149,611 160,099 There were no transfers between levels 1, 2 and 3 during the reported periods. Financial instruments in Level 3 If one or more of the significant inputs are not based on observable market data, the instrument is included in level 3. Specific valuation techniques used to value financial instruments include: • Quoted market prices or dealer quotes for similar instruments; • Discounted cash flow model and unobservable inputs mainly including assumptions of expected future cash flows and discount rate; and • A combination of observable and unobservable inputs, including risk-free rate, expected volatility, discount rate for lack of marketability, market multiples, etc. Level 3 instruments of the Group’s assets and liabilities include wealth management products, other investment measured at FVPL and financial instruments with preferred rights, respectively. The following table presents the movements in level 3 instruments for the reported periods, except for those of financial instruments with preferred rights which are presented in Note 30. Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Wealth management products Opening balance 252,915 38,597 122,224 Additions 895,140 479,100 1,628,558 Settlements (1,116,604 ) (396,420 ) (1,625,106 ) Investment income credited to profit or loss (Note 9) 7,146 947 4,652 Exchange differences — — (326 ) Closing balance 38,597 122,224 130,002 Other investment Opening balance — — — Additions — — 19,000 Fair value change recognized in profit or loss (Note 9) — — 609 Closing balance — — 19,609 The valuations of Level 3 instruments of wealth management products, other investment and financial instruments with preferred rights are set out in Note 21(ii), Note 21(i) and Note 4(a), respectively. The carrying amounts of the Group’s other financial assets and liabilities, including cash and cash equivalents, trade and other receivables, trade and other payables, amounts due from/to related parties and borrowings, approximate their fair values. |
Critical accounting estimates a
Critical accounting estimates and judgments | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Critical accounting estimates and judgments | 4. Critical accounting estimates and judgments The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management also needs to exercise judgment in applying the Group’s accounting policies. Estimates and judgments are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the Group and that are believed to be reasonable under the circumstances. (a) Fair value of financial instruments with preferred rights The Group adopted the quoted market price of the Company’s ordinary shares upon IPO on June 19, 2020 to measure the fair value of financial instruments with preferred rights immediately before their conversion into ordinary shares. Prior to the IPO, the fair value of financial instruments with preferred rights that were not traded in an active market was determined using valuation techniques. The Group used the discounted cash flow method to determine the equity value of the Group and adopted equity allocation model to determine the fair value of the financial instruments with preferred rights. Key assumptions such as discount rate, risk-free interest rate and discount for lack of marketability (“DLOM”) involved the use of significant accounting estimates and judgements. (b) Impairment of receivables The Group applies the IFRS 9 simplified approach to measure expected credit losses which use a lifetime expected loss allowance and makes impairment loss based on assessments of the recoverability of the trade receivables and contract assets, including the current creditworthiness, the past collection history of each debtor and forward looking information. A considerable amount of judgment is required to estimate the expected loss rates. Where the actual result is different from the original estimate, such difference will impact the carrying value of the trade receivables and contract assets and loss allowances in the year in which such estimate is changed. (c) Recognition of share-based compensation expenses As mentioned in Note 27, equity-settled share-based compensation plans have been granted to employees and consultants. The Group has used Binomial model to determine the total fair value of the awards, which is to be expensed over the vesting period. Significant estimate on assumptions, such as the fair value of underlying shares, risk-free interest rate, expected volatility, vesting period and dividend yield, is required to be made by the management. (d) Current and deferred income taxes (i) Deferred income tax The Group recognizes deferred tax assets based on estimates that it is probable to generate sufficient taxable profits in the foreseeable future against which the deductible losses will be utilized. The recognition of deferred tax assets mainly involves management’s judgments and estimations about the timing and the amount of taxable profits of the companies which have tax losses. (ii) Uncertain tax positions There are many transactions and events for which the ultimate tax determination is uncertain during the ordinary course of business. Significant judgment is required from the Group in determining the provision for income taxes. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. In determining the amount of current and deferred income tax, the Group takes into account the impact of uncertain tax positions and whether preferential tax rates, additional taxes, interest or penalties may be due and whether future taxable profits will be available to enable deferred tax assets resulting from deductible temporary differences and tax losses to be recognized. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Group to change its judgment regarding the adequacy of existing tax liabilities. Such changes to tax liabilities will impact tax expense in the period that such a determination is made. (e) Consolidation of VIEs The Group exercises control over the VIEs and has the right to recognize and receive substantially all the economic benefits through the Contractual Arrangements. The Group considers that it controls the VIEs notwithstanding the fact that it does not hold direct equity interests in the VIEs, as it has power over the VIEs and receives substantially all the economic benefits from the business activities of the VIEs through the Contractual Arrangements. Accordingly, the VIEs and subsidiaries of VIEs are accounted for as controlled structured entities and their financial statements have also been consolidated by the Company. |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2020 | |
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Segment reporting | 5. Segment reporting Management reviews the operating results of the business based on operating segments to make decisions about resources to be allocated. Management presents the following segments by which the CODM makes strategic decisions (Note 6): • Diagnosis and monitoring – provision for LDT services • Diagnosis and monitoring – sale of IVD products • Development services The major operating entities of the Group are domiciled in the PRC. Accordingly, substantially all of the Group’s operating results were derived from the PRC during the reported periods. As at December 31, 2019 and 2020, substantially all of the Group’s non-current |
Revenue and segment information
Revenue and segment information | 12 Months Ended |
Dec. 31, 2020 | |
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Revenue and segment information | 6. Revenue and segment information Diagnosis and monitoring – provision of LDT services Diagnosis and monitoring – sale of IVD products Development services Total RMB’000 RMB’000 RMB’000 RMB’000 Year ended December 31, 2018 Revenue 168,579 4,714 51,883 225,176 Segment profit/(loss) 93,545 1,491 (2,310 ) 92,726 Year ended December 31, 2019 Revenue 234,569 34,915 53,941 323,425 Segment profit/(loss) 141,542 11,966 (8,518 ) 144,990 Year ended December 31, 2020 Revenue 291,702 93,982 38,801 424,485 Segment profit 198,170 60,266 1,781 260,217 Reconciliation of segment profits to loss for the year: Year ended December 31, 2018 2019 2020 Total segment profits 92,726 144,990 260,217 Unallocated expenses - operating expenses (325,702 ) (451,860 ) (528,593 ) - finance income/(costs) – net 1,615 (9,221 ) 22,703 - losses from financial instruments with preferred rights (233,632 ) (359,943 ) (2,823,370 ) Loss for the year (464,993 ) (676,034 ) (3,069,043 ) Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Timing of revenue recognition - over time 149,906 204,406 265,137 - at a point in time 75,270 119,019 159,348 225,176 323,425 424,485 The Group has recognized the following assets and liabilities related to contracts with customers: As at December 31, 2019 RMB’000 2020 RMB’000 Contract assets 1,131 1,181 Less: provision for impairment (111 ) (69 ) 1,020 1,112 Contract liabilities 18,189 8,417 Revenue recognized that was included in the contract liabilities balance at the beginning of the year 8,469 16,026 Note: Contract assets arise from provision of services ahead of the agreed payment schedules for fixed-price contracts. The contract assets were aged within one year with insignificant credit risk. Contract liabilities mainly arise from the advance payments made by customers while the underlying services are yet to be provided. Most of these remaining obligations under such agreement are expected to be fulfilled within one year based on the estimation from management. |
Expenses by nature
Expenses by nature | 12 Months Ended |
Dec. 31, 2020 | |
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Expenses by nature | 7. Expenses by nature Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Cost of inventories and consumables used (Note 17) 110,970 144,644 148,988 Employee benefit expenses (Note 8) 176,507 236,476 268,986 Depreciation on property, plant and equipment (Note 13) 26,752 30,458 33,466 Depreciation on right-of-use — 14,784 18,277 Amortization on intangible assets (Note 15) 1,106 1,344 1,452 Provision for impairment of trade and other receivables and contract assets 658 2,733 14,843 Promotion expenses 92,811 130,599 131,209 Rental, utilities and office expenses 17,670 9,663 16,347 Listing expenses 9,392 27,064 986 |
Employee benefit expenses
Employee benefit expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Employee benefit expenses | 8. Employee benefit expenses Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Wages, salaries and bonuses 111,794 153,815 195,462 Welfare expenses 7,500 8,866 8,637 Housing funds 7,996 11,465 14,799 Contributions to pension plans (Note) 19,573 26,446 20,137 Share-based compensation expenses (Note 27(d)) 29,644 35,884 29,951 176,507 236,476 268,986 Note: The employees of the Group in the PRC are members of a state-managed pension scheme operated by the PRC Government. The Group is required to contribute a specified percentage of payroll costs as determined by local government authority to the pension obligations to fund the benefits. The only obligation of the Group with respect to the retirement benefits scheme is to make the specified contribution under the scheme. Employee benefit expenses were charged in the following categories in the consolidated statements of loss: Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Cost of revenue 21,737 27,375 27,108 Selling expenses 75,303 101,378 101,379 Administrative expenses 48,529 60,084 64,610 Research and development expenses 30,938 47,639 75,889 176,507 236,476 268,986 |
Other income and gains - net
Other income and gains - net | 12 Months Ended |
Dec. 31, 2020 | |
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Other income and gains – net | 9. Other income and gains – net Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Investment income from wealth management products 7,146 947 4,652 Fair value (loss)/gain on: - equity security — — (3,153 ) - other investment — — 609 - derivative financial instruments — — 196 Gain on: - redemption of derivative financial instruments — — 1,550 - disposal of property, plant and equipment — 1,505 — Government grants (Note) 10,695 11,695 3,869 Amortization on deferred income from ADS depository (Note 29(b)) — — 2,405 Others (767 ) (850 ) (1,602 ) 17,074 13,297 8,526 Note: Government grants are subsidies received for compensating the Group’s research and development expenses incurred for certain projects and other operating activities. |
Finance income_(costs) - net
Finance income/(costs) - net | 12 Months Ended |
Dec. 31, 2020 | |
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Finance income/(costs) – net | 10. Finance income/(costs) – net Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Finance income Interests from: - bank deposits 798 198 433 - loans to a related party 749 243 — Net exchange gains 68 2,042 27,897 1,615 2,483 28,330 Finance costs Issuance costs of financial instruments with preferred rights — (6,303 ) — Interests on: - lease liabilities — (2,076 ) (2,069 ) - borrowings — (2,133 ) (3,298 ) - loans from a related party — (1,192 ) — Oth ers — — (260 ) — (11,704 ) (5,627 ) Finance income/(costs) – net 1,615 (9,221 ) 22,703 |
Income tax expense
Income tax expense | 12 Months Ended |
Dec. 31, 2020 | |
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Income tax expense | 11. Income tax expense Income tax expense is recognized based on the income tax rates in the following main tax jurisdictions where the Group operates for the reported periods. (a) Cayman Islands The Company is incorporated in the Cayman Islands as an exempted company with limited liabilities under the Companies Law of Cayman Islands and accordingly, is exempted from Cayman Islands income tax. (b) Hong Kong No Hong Kong profit tax was provided for as there was no estimated assessable profit that was subject to Hong Kong profits tax during the reported periods. (c) PRC Provision for PRC corporate income tax is calculated based on the statutory income tax rate of 25% on the assessable income of respective PRC Group entities during the reported periods in accordance with relevant PRC enterprise income tax rules and regulations (“EIT Law”) except for certain Group entities in PRC with preferential tax rates as detailed below. No provision for PRC corporate income tax has been made for the reported periods as the Group has no such assessable profit for the years. The reconciliation between the Group’s actual tax charge and the amount that is calculated based on the statutory income tax rate of 25% in the PRC is as follows: Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loss before income tax (464,993 ) (676,034 ) (3,069,043 ) Tax credits calculated at statutory tax rate of 25% (116,248 ) (169,009 ) (767,261 ) Effects of preferential tax rates (Note (i)) 44,728 37,139 18,900 Expenses not deductible for income tax purpose (Note (ii)) 44,926 101,536 722,458 Super deduction of research and development expenses (4,279 ) (6,273 ) (8,390 ) Tax losses and deductible temporary differences for which no deferred income tax assets were recognized 30,873 36,607 34,293 Income tax expense — — — Note: (i) Certain Group entities in PRC have been eligible as High/New Technology Enterprises (“HNTEs”) with preferential tax rate of 15% as set out in PRC EIT Law. (ii) These mainly include fair value loss of financial instruments with preferred rights. The Group did not recognize deferred income tax assets amounting to approximately RMB106 million and RMB140 million as at December 31, 2019 and 2020 respectively in respect of tax losses and deductible temporary differences that can be carried forward against future taxable income. Pursuant to the notice on extension for expiries of unused tax losses of HNTEs and Small and Medium- sized Technological Enterprises (Caishui [2018] No. 76)) issued in July 2018, which retrospectively effected from January 1, 2018, the accumulated tax losses which did not expire from 2018 would have expiries extending from 5 years to 10 years from then on. The unrecognized tax losses of approximately RMB660 million and RMB840 million as at December 31, 2019 and 2020 will progressively expire until 2029 and 2030 respectively as a result. As of December 31, 2019 and 2020 the Group did not have any significant unrecognized uncertain tax positions. |
Loss per share
Loss per share | 12 Months Ended |
Dec. 31, 2020 | |
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Loss per share | 12. Loss per share Basic and diluted loss per share reflecting the effect of the issuance of ordinary shares by the Company are presented as follows. To calculate loss per share, the capital structure in July 2019 when the Reorganization completed is pushed back assuming it had been in effect historically as stated in Note 1.3. Basic loss per share is calculated by dividing the loss attributable to owners of the Company by the weighted average number of ordinary shares outstanding, excluding treasury shares which are detailed in Note 25. Restricted ordinary shares have been considered in the calculation when they vested on monthly basis. Year ended December 31, 2018 2019 2020 Loss attributable to owners of the Company (RMB’000) (464,993 ) (676,034 ) (3,069,043 ) Weighted average number of ordinary shares outstanding (in thousands) (Note) 113,757 124,895 301,380 Basic loss per share (RMB) (4.09 ) (5.41 ) (10.18 ) Basic loss per ADS (RMB) (50.92 ) Awards granted under share-based compensation plans and Preferred Shares are considered as potential dilutive shares throughout the reporting periods. However, due to the Group’s negative financial Note: Movement of number of ordinary shares outstanding (excluding treasury shares) for the reported periods are shown as follows. Year ended December 31, 2018 2019 2020 in thousands in thousands in thousands At beginning of the year 107,768 119,812 123,584 Ordinary shares - repurchased — (8,272 ) — - issued upon IPO — — 80,000 - converted from Preferred Shares upon IPO — — 220,332 *Restricted shares vested 12,044 12,044 17,894 **Awards vested — — 14,897 At end of the year 119,812 123,584 456,707 * considered in the calculation when they vested on monthly basis ** represent awards with nominal subscription prices which have been vested but not yet exercised at end of the year |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2020 | |
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Property, plant and equipment | 13. Property, plant and equipment Instruments and equipment Office equipment and furniture Transporting equipment Leasehold improvements Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at January 1, 2018 Cost 81,297 2,622 — 16,246 100,165 Accumulated depreciation (28,677 ) (622 ) — (5,563 ) (34,862 ) Net book value 52,620 2,000 — 10,683 65,303 Year ended December 31, 2018 Opening net book value 52,620 2,000 — 10,683 65,303 Additions 40,610 345 445 2,625 44,025 Depreciation (21,010 ) (521 ) (53 ) (5,168 ) (26,752 ) Exchange differences (25 ) — — — (25 ) Closing net book value 72,195 1,824 392 8,140 82,551 As at December 31, 2018 Cost 121,895 2,967 445 18,871 144,178 Accumulated depreciation (49,700 ) (1,143 ) (53 ) (10,731 ) (61,627 ) Net book value 72,195 1,824 392 8,140 82,551 Year ended December 31, 2019 Opening net book value 72,195 1,824 392 8,140 82,551 Additions 27,766 986 24 2,210 30,986 Disposals (173 ) — — — (173 ) Depreciation (25,332 ) (611 ) (113 ) (4,402 ) (30,458 ) Exchange differences 107 — — — 107 Closing net book value 74,563 2,199 303 5,948 83,013 As at December 31, 2019 Cost 147,658 3,953 469 21,081 173,161 Accumulated depreciation (73,095 ) (1,754 ) (166 ) (15,133 ) (90,148 ) Net book value 74,563 2,199 303 5,948 83,013 Year ended December 31, 2020 Opening net book value 74,563 2,199 303 5,948 83,013 Additions 19,573 908 — 6,896 27,377 Depreciation (28,038 ) (784 ) (112 ) (4,532 ) (33,466 ) Exchange differences (33 ) — — — (33 ) Closing net book value 66,065 2,323 191 8,312 76,891 As at December 31, 2020 Cost 167,085 4,861 469 27,977 200,392 Accumulated depreciation (101,020 ) (2,538 ) (278 ) (19,665 ) (123,501 ) Net book value 66,065 2,323 191 8,312 76,891 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
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Leases | 14. Leases (a) Amounts recognized in the consolidated balance sheets are as follows: (i) Right-of-use Properties Office equipment Total RMB’000 RMB’000 RMB’000 As at January 1, 2019 Cost 42,561 50 42,611 Year ended December 31, 2019 Opening net book amount 42,561 50 42,611 Additions 15,355 — 15,355 Depreciation (14,766 ) (18 ) (14,784 ) Closing net book amount 43,150 32 43,182 As at December 31, 2019 Cost 57,916 50 57,966 Accumulated depreciation (14,766 ) (18 ) (14,784 ) Net book value 43,150 32 43,182 Year ended December 31, 2020 Opening net book amount 43,150 32 43,182 Additions 34,801 — 34,801 Depreciation (18,259 ) (18 ) (18,277 ) Closing net book amount 59,692 14 59,706 As at December 31, 2020 Cost 92,717 50 92,767 Accumulated depreciation (33,025 ) (36 ) (33,061 ) Net book value 59,692 14 59,706 (ii) Lease liabilities As at December 31, 2019 2020 RMB’000 RMB’000 Non-current 29,124 43,016 Current 15,363 16,585 44,487 59,601 (b) Amounts recognized in the consolidated statements of loss in addition to depreciation shown above are as follows: Year ended December 31, 2019 2020 RMB’000 RMB’000 Interest expense (included in finance costs) (Note 10) 2,076 2,069 Expense relating to short-term leases (included in cost of revenue, selling expenses, administrative expenses and research and development expenses) 621 530 Expense relating to leases of low-value 403 521 (c) The total cash outflow for leases in 2019 and 2020 was RMB15,234,000 and RMB22,726,000, respectively. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2020 | |
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Intangible assets | 15. Intangible assets Software Patented Others Total RMB’000 RMB’000 RMB’000 RMB’000 As at January 1, 2018 Cost 3,563 230 2,030 5,823 Accumulated amortization and impairment (696 ) (230 ) (1,015 ) (1,941 ) Net book value 2,867 — 1,015 3,882 Year ended December 31, 2018 Opening net book value 2,867 — 1,015 3,882 Additions 608 — — 608 Amortization (599 ) — (507 ) (1,106 ) Exchange differences 11 — — 11 Closing net book value 2,887 — 508 3,395 As at December 31, 2018 Cost 4,200 230 2,030 6,460 Accumulated amortization and impairment (1,313 ) (230 ) (1,522 ) (3,065 ) Net book value 2,887 — 508 3,395 Year ended December 31, 2019 Opening net book value 2,887 — 508 3,395 Additions 3,376 — — 3,376 Amortization (836 ) — (508 ) (1,344 ) Exchange differences 55 — — 55 Closing net book value 5,482 — — 5,482 As at December 31, 2019 Cost 7,679 230 2,030 9,939 Accumulated amortization and impairment (2,197 ) (230 ) (2,030 ) (4,457 ) Net book value 5,482 — — 5,482 Year ended December 31, 2020 Opening net book value 5,482 — — 5,482 Additions 8,253 — — 8,253 Amortization (1,452 ) — — (1,452 ) Exchange differences (18 ) — — (18 ) Closing net book value 12,265 — — 12,265 As at December 31, 2020 Cost 15,798 230 2,030 18,058 Accumulated amortization and impairment (3,533 ) (230 ) (2,030 ) (5,793 ) Net book value 12,265 — — 12,265 |
Financial instruments by catego
Financial instruments by category | 12 Months Ended |
Dec. 31, 2020 | |
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Financial instruments by category | 16. Financial instruments by category Financial assets at FVPL Financial assets at amortized cost Total RMB’000 RMB’000 RMB’000 Financial assets As at December 31, 2019 Trade receivables — 83,757 83,757 Other receivables — 4,273 4,273 Amounts due from related parties — 1,064 1,064 Financial assets at fair value through profit or loss 122,224 — 122,224 Cash and cash equivalents — 139,954 139,954 122,224 229,048 351,272 As at December 31, 2020 Trade receivables — 164,592 164,592 Other receivables — 11,968 11,968 Amounts due from related parties — 214 214 Financial assets at fair value through profit or loss 159,903 — 159,903 Derivative financial instruments 196 — 196 Cash and cash equivalents — 1,375,766 1,375,766 160,099 1,552,540 1,712,639 Financial liabilities As at December 31, 2019 Financial instruments with preferred rights 2,106,334 — 2,106,334 Borrowings — 23,157 23,157 Lease liabilities — 44,487 44,487 Trade payables — 49,955 49,955 Other payables — 79,923 79,923 Amounts due to a related party — 34 34 2,106,334 197,556 2,303,890 As at December 31, 2020 Borrowings — 64,076 64,076 Lease liabilities — 59,601 59,601 Trade payables — 34,071 34,071 Other payables — 56,206 56,206 Amounts due to a related party — 24 24 — 213,978 213,978 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
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Inventories | 17. Inventories As at December 31, 2019 2020 RMB’000 RMB’000 Raw materials 14,824 14,078 Work-in-progress 1,325 5,265 Finished goods 1,747 5,628 17,896 24,971 Inventories recognized as expenses and included in cost of revenue during the years ended December 31, 2018, 2019 and 2020 amounted to RMB110,970,000, RMB144,644,000 and RMB148,988,000 respectively. |
Other current assets
Other current assets | 12 Months Ended |
Dec. 31, 2020 | |
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Other current assets | 18. Other current assets These include deductible value-added tax (“VAT”) balances which can offset against future VAT payables. |
Trade receivables
Trade receivables | 12 Months Ended |
Dec. 31, 2020 | |
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Trade receivables | 19. Trade receivables As at December 31, 2019 2020 RMB’000 RMB’000 Trade receivables 87,236 182,955 Less: provision for impairment (3,479 ) (18,363 ) 83,757 164,592 Trade receivables are generally due for settlement within 30 days, except for those of IVD product sales up to 180 days. As at December 31, 2019 and 2020 majority of the trade receivables are aged within one year. The amounts of trade receivables that were past due but not impaired were insignificant to the Group. The expected credit losses of trade receivables and the Group’s exposure to credit risk are disclosed in Note 3.1(b). |
Other receivables and prepaymen
Other receivables and prepayments | 12 Months Ended |
Dec. 31, 2020 | |
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Other receivables and prepayments | 20. Other receivables and prepayments As at December 31, 2019 2020 RMB’000 RMB’000 Deposits 4,273 7,603 Prepayment for goods and service 10,694 27,568 Prepayment for rental expenses 1,216 694 Others 3,820 7,032 20,003 42,897 Less: provision for impairment (477 ) (477 ) 19,526 42,420 |
Financial assets at fair value
Financial assets at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2020 | |
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Financial assets at fair value through profit or loss | 21. Financial assets at fair value through profit or loss As at December 31, 2019 2020 RMB’000 RMB’000 Non-current Other investment (Note (i)) — 19,609 Current Wealth management products (Note (ii)) 122,224 130,002 Equity security (Note (iii)) — 10,292 122,224 140,294 Note: (i) In 2020 the Group invested RMB19 million in a biotechnology company and thereby obtained 30% of its equity interests with certain preferred rights in redemption, liquidation and anti- dilution. As such it is deemed as a debt instrument and classified as financial asset at FVPL with fair value measured based on discounted cash flow method. (ii) Wealth management products held by the Group with various maturities bear floating interest rates at ranges of 2.78% and 2.30%-2.40% (iii) This is investment of an equity security listed in Hong Kong held for trading with purchase cost of approximately RMB14 million. Its fair value at end of reporting period is determined by closing price quoted in an active stock market. Changes in fair values of these financial assets are recorded in other income and gains/(losses) - net in the consolidated statements of loss. |
Derivative financial instrument
Derivative financial instruments | 12 Months Ended |
Dec. 31, 2020 | |
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Derivative financial instruments | 22. Derivative financial instruments The Group has entered into foreign currency forwards to sell US$ and buy RMB with maturities within one year. The fair values of these foreign currency forwards are based on the present value of the estimated future cash flows by reference to forward exchange rates and other factors at the balance sheet date. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2020 | |
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Cash and cash equivalents | 23. Cash and cash equivalents As at December 31, 2019 2020 RMB’000 RMB’000 Cash at bank -RMB deposits 9,339 20,433 -US$ deposits 130,545 1,355,276 -HK$ deposits 70 57 Cash on hand — — 139,954 1,375,766 Cash at banks earns interest at floating rates based on daily bank deposit rates. Cash at banks denominated in RMB are deposited with banks in the PRC. The conversion of these RMB-denominated |
Share capital and share premium
Share capital and share premium | 12 Months Ended |
Dec. 31, 2020 | |
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Share capital and share premium | 24. Share capital and share premium Note Number of ordinary shares Nominal value of ordinary shares Number of Nominal value US$’000 US$’000 Authorized: Upon incorporation (i) 500,000,000 50 — — As at December 31, 2018 500,000,000 50 — — As at January 1, 2019 500,000,000 50 — — Share sub-division (ii) 2,000,000,000 — — — Re-designation (iii) (171,083,000 ) (3 ) 171,083,000 3 Shares repurchase and issuance - repurchase (v) (8,272,000 ) — (6,933,000 ) — - issuance (v) — — 15,205,000 — Re-designation (vi) (34,147,600 ) (1 ) 34,147,600 1 As at December 31, 2019 2,286,497,400 46 213,502,600 4 As at January 1, 2020 2,286,497,400 46 213,502,600 4 Re-designation D-2 (vii) (6,829,500 ) — 6,829,500 — Conversion of preferred shares into ordinary shares (viii) 220,332,100 4 (220,332,100 ) (4 ) As at December 31, 2020 2,500,000,000 50 — — Note Number of Nominal value of Share US$’000 RMB’000 RMB’000 Issued: Upon incorporation (i) 3 — — — As at December 31, 2018 3 — — — As at January 1, 2019 3 — — — Share repurchase (ii) (2 ) — — — Share sub-division (ii) 4 — — — Issuance of ordinary shares (iv) 149,749,995 3 18 — Repurchase of ordinary shares (v) (8,272,000 ) — (1 ) — As at December 31, 2019 141,478,000 3 17 — As at January 1, 2020 141,478,000 3 17 — Issuance of ordinary shares upon IPO (viii) 80,000,000 2 11 1,657,782 Conversion of preferred shares into ordinary shares (viii) 220,332,100 4 31 4,999,780 As at December 31, 2020 441,810,100 9 59 6,657,562 Note: (i) On April 9, 2018, the Company was incorporated in the Cayman Islands with an authorized share capital of US$50,000 divided into 500,000,000 ordinary shares with a par value of US$0.0001 each and 3 ordinary shares were issued. (ii) On July 2, 2019, the Company repurchased 2 ordinary shares and conducted a 1:5 share sub- division to amend its authorized share capital to 2,500,000,000 ordinary shares with a par value of US$0.00002 each in accordance with the resolution of the shareholders of the Company. (iii) On July 2, 2019, the Company issued 171,083,000 preferred shares (equivalent to then 34,216,600 preferred shares of Genetron Health with each share having been converted to five shares of the Company) at par value of US$0.00002 per share. (iv) On July 2, 2019, the Company further issued 149,749,995 ordinary shares to each of the then equity holders of Genetron Health with substantially the same rights and shareholding percentages in Genetron Health upon the Reorganization. Together with the 5 ordinary shares of the Company resulted from (i) and (ii) above, this totalled 149,750,000 ordinary shares of the Company, with each share of Genetron Health having been converted to five shares of the Company. (v) In November 2019 the Group repurchased 8,272,000 ordinary shares and 6,933,000 preferred shares from certain then shareholders including the Founders for an aggregate consideration of US$15 million, and issued 15,205,000 Series C-2 (“C-2 Consequently the total nominal value of ordinary shares repurchased of US$165 (equivalent to approximately RMB1,000) was deducted from share capital, and the excess of the relevant portion of consideration paid over the total nominal value of repurchased ordinary shares of US$8,160,000 (equivalent to approximately RMB57,438,000) was debited to (a) the balance standing to then capital reserve of RMB35,174,000 and (b) other reserve of RMB22,264,000. (vi) In November 2019 the Company further issued 34,147,600 Series D preferred shares for an aggregate consideration of US$50 million to certain investors including the C-2 (vii) In February 2020 the Company further issued 6,829,500 Series D-2 (viii) On June 19, 2020, 16,000,000 ADSs (representing 80,000,000 ordinary shares) were offered by the Company upon their listing on NASDAQ. Simultaneously all the 220,332,100 then preferred shares of the Company were converted into ordinary shares. |
Treasury shares
Treasury shares | 12 Months Ended |
Dec. 31, 2020 | |
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Treasury shares | 25. Treasury shares A total of 93,506,000 ordinary shares of the Company held by the Founders were put in escrow with service conditions and vested on monthly basis or by one tranche which are detailed in Note 27(b) and Note 27(c) respectively. As at December 31, 2019, 17,894,000 ordinary shares of the Company were still in escrow and considered as treasury shares. As at December 31, 2020, all the ordinary shares in escrow were vested and released. |
Reserves
Reserves | 12 Months Ended |
Dec. 31, 2020 | |
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Reserves | 26. Reserves (a) Capital reserve Capital reserve mainly included historical cash contributions to Genetron Health by its equity holders. On August 28, 2017, a Founder invested RMB2,173,600 to Genetron Health in cash to subscribe for 2,173,600 ordinary shares of Genetron Health, details of which are set out in Note 27(c). In November 2019 the Group repurchased certain ordinary shares with the excess of consideration paid over their nominal value being debited to the balances standing to then capital reserve and other reserve of the Group as detailed in Note 24(v). (b) Share-based compensation reserve The share-based compensation reserve represents the fair value of the actual or estimated number of unvested restricted shares and unexercised awards granted to employees recognized in accordance with the accounting policy adopted for equity-settled share-based payments in Note 2.21 to the financial statements. (c) Other reserve Other reserve includes the reserve transferred from share-based compensation reserve upon vesting of restricted shares and exercise of awards. (d) Other comprehensive losses Other comprehensive losses comprise the exchange translation reserve which represents the foreign exchange differences arising from the translation of the financial statements of foreign operations in accordance with the accounting policy set out in Note 2.5(c) to the financial statements, and changes in the fair value of the financial instruments with preferred rights which are attributable to changes in the credit risk of that liability set out in Note 2.18. (e) Statutory reserves In accordance with the PRC regulations and the articles of association of the PRC companies now comprising the Group, before annual profit distribution companies registered in the PRC are required to set aside 10% of its net profit for the year after offsetting any prior year losses as determined under relevant PRC accounting standards to the statutory surplus reserve fund. When the balance of such reserve reaches 50% of the company’s registered capital, any further appropriation is optional. No profit appropriation to the reserve fund was made for those Group entities for the reported periods as they were in accumulated loss positions. |
Share-based payment
Share-based payment | 12 Months Ended |
Dec. 31, 2020 | |
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Share-based payment | 27. Share-based payment (a) Share Incentive Plan and Share Incentive Scheme Genetron Health had two previous employee share incentive plans for its key employees, key management and consultants, which were approved by its board of directors and became effective in January 2017 and June 2018, respectively. The purpose is to provide incentives and rewards to eligible participants for their contribution or potential contribution to the Group and to recruit and retain high calibre persons who are valuable to the Group. The incentive shares had included 6,792,300 shares of Genetron Health (equivalent to 33,961,500 shares of the Company with each share of Genetron Health having been converted to five shares of the Company in July 2019). In July 2019, the Group adopted the 2019 Genetron Health Share Incentive Plan (the “2019 Plan”) under which the awards completely replaced all options granted under previous similar share incentive plans. In October 2019, the Group further adopted the 2019 Genetron Health Share Incentive Scheme (the “2019 Scheme”) with substantially the same terms. The 2019 Plan and 2019 Scheme provide for the issuance of up to an aggregate of 33,961,500 and 20,830,100 of the Company’s ordinary shares respectively, out of which 22,555,620 ordinary shares have been issued but deemed not outstanding as at December 31, 2020. Pursuant to the plans, a grantee has the right to subscribe for the ordinary shares at a price determined by the board of directors of the Company. The awards granted can only vest if the performance conditions (including certain annual performance rating and sales or development performance indicator, which have been defined on grant date) and service conditions are met. The service condition of the awards granted to employees and key management is usually four years since the grant date and 25% of the granted awards are progressively vested on each anniversary of the grant date. The service condition for consultants is one to three years. The grantees are entitled to subscribe for underlying shares only if an IPO is achieved, provided that the service condition is also met. As of each grant date before IPO on June 19, 2020, management believed achievement of the IPO was probable. Grantees who leave the Group before the exercisable date will lose their entitlement to the vested awards. Awards granted typically expire in ten years from the grant date as stated in grant agreements. Participation in the plans is at the discretion of the board of directors of the Company and no individual has contractual right to participate in the plans or receive any guaranteed benefits. Set out below are movements of awards during the reported periods. Year ended December 31, 2018 2019 2020 Exercise price Number of awards Exercise price Number of awards Exercise price Number of awards Outstanding at beginning of the year RMB 1.00 1,624,456 RMB 1.00 4,578,933 US$ 0.03 23,481,970 Granted during the year RMB 1.00 3,205,000 RMB 1.00 713,840 US$ 0.88 3,035,000 Forfeited before Reorganization (Note (i)) RMB 1.00 (250,523 ) RMB 1.00 (47,507 ) — — Share sub-division — — US$ 0.03 18,321,704 — — Forfeited after Reorganization (Note (i)) — — US$ 0.03 (85,000 ) US$ 0.03 (300,702 ) Outstanding at end of the year RMB 1.00 4,578,933 US$ 0.03 23,481,970 US$ 0.13 26,216,268 Exercisable at end of the year (Note (ii)) — — — — US$ 0.03 14,897,089 Note: (i) The shares are forfeited if the employment terminates or the performance condition is not met. (ii) Awards are only exercisable upon completion of IPO or after other vesting periods. (iii) Exercise prices are shown as weighted average as applicable. The weighted average remaining contractual lives of awards outstanding as at the years ended December 31, 2019 and 2020 are 8.0 years and 7.3 years, respectively. Fair value of awards granted The Group used the discounted cash flow method to determine the underlying equity fair value and adopted equity allocation model to determine the fair value of the underlying ordinary shares prior to IPO, subsequent to which the fair value of the shares is calculated based on the quoted market price of the Company’s shares at the respective grant date. Based on the fair value of underlying ordinary shares, the Group used Binominal option-pricing model to determine the fair value of awards as at each of the grant dates. Key assumptions for the awards granted are set as below: Year of grant 2017 2018 Before After 2020 Fair values at grant date - (RMB per share of Genetron Health) (Note) 10.83 28.19 36.32 — — - (US$ per share of the Company) (Note) — — — 1.25 1.76 - 2.38 Exercise prices - (RMB per share of Genetron Health) (Note) 1.00 1.00 1.00 — — - (US$ per share of the Company) (Note) — — — 0.03 0.03 - 0.99 Risk-free interest rates 2.51 % 2.94 % 2.09 % 1.69 % 0.64% - 0.67 % Dividend yield nil nil nil nil nil Expected volatilities 55.08 % 53.48 % 50.20 % 48.80 % 54.90% - 55.10 % Expected term 10 years 10 years 10 years 10 years 10 years Note: Each share of Genetron Health was converted to five shares of the Company upon the Reorganization in July 2019 when the exercise price of all then existing awards was modified from RMB1.00 per share of Genetron Health to US$0.03 per share of the Company without impact on their values. (b) Restriction of ordinary shares held by Founders On May 7, 2015, an aggregate of 16,527,600 ordinary shares of Genetron Health at par value of RMB1.00 per share were issued to three directors, who are also Founders of Genetron Health. In accordance with Series A financing agreement on July 17, 2015, all the 16,527,600 ordinary shares held by the individual Founders were put in escrow since that date with a five-year service condition (which was subsequently fulfilled during 2020). Such restriction was deemed as a compensatory arrangement for services to be provided by the Founders and therefore accounted for as a share-based compensation arrangement. The Group applied Binomial model to determine the fair value of this share-based payment as RMB3.12 per share on the grant date. Key assumptions included risk-free interest rate of 1.70%, expected volatility of 50.00%, dividend yield of nil and expected terms of 5 years based on best estimates. As modified since Series B financing in September 2016, one sixtieth of the award became vested on a monthly basis over five years provided that the Founders remained employment relationship with Genetron Health. Under the Series C financing in October 2017, the shares owned by one of the Founders were no longer subject to the five-year service condition and his then 2,540,650 restricted shares were vested immediately on the modification date. Accordingly, the unrecognized grant date fair value of those shares were accelerated and recognized as share-based compensation expenses on the modified date. If the Founders terminated service, the Group had to repurchase the shares put in escrow at RMB1.00 per share, which was considered a leaver provision and recorded in other payables and accruals to be released proportionally as the restricted shares were progressively released from escrow. The movement of the restricted shares for the years ended December 31, 2018, 2019 and 2020 are summarized as below: Number of restricted shares Outstanding at January 1, 2018 6,222 Vested and released (2,409 ) Outstanding at December 31, 2018 3,813 Outstanding at January 1, 2019 3,813 Vested and released before Reorganization (1,204 ) Share sub-division 10,439 Vested and released after Reorganization (6,024 ) Outstanding at December 31, 2019 7,024 Outstanding at January 1, 2020 7,024 Vested and released (7,024 ) Outstanding at December 31, 2020 — (c) Share-based payment to a Founder Pursuant to the Series A preferred shares agreement in July 2015, a Founder was granted the right to subscribe for shares of Genetron Health amounted to 3% to 5% of its total shares outstanding at par value of RMB1.00 per share if the appraised value of Genetron Health reached RMB590 million before Series B preferred shares financing. The shares had a five-year service condition (which was subsequently fulfilled during 2020). The market condition of target appraised value was met in 2016 and the Founder was allowed to subscribe for 2,173,600 shares (representing 5% of the total number of ordinary and preferred shares then outstanding) of Genetron Health at RMB1.00 per share. The shares were paid up in 2017 and the funds received represent a leaver provision being recorded in other payables and accruals as Genetron Health had to pay such amount to repurchase the shares if the service condition was not met. The Group applied Binomial model to determine the fair value of this share-based payment as RMB1.79 per share on the grant date. Key assumptions included probability of achieving the market condition, risk-free interest rate of 0.51%, expected volatility of 55.80%, dividend yield of nil and expected terms of 1.5 years based on best estimates. (d) Share-based compensation expenses were charged in the following categories in the consolidated statements of loss: Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Cost of revenue 234 446 300 Selling expenses 1,186 2,720 3,906 Administrative expenses 22,259 25,940 15,013 Research and development expenses 5,965 6,778 10,732 29,644 35,884 29,951 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
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Borrowings | 28. Borrowings As at December 31, 2019 2020 RMB’000 RMB’000 Non-current Other borrowings (Note (i)) 3,643 5,493 Current Bank borrowings (Note (ii)) 5,000 50,000 Current portion of other borrowings (Note (i)) 14,514 8,583 19,514 58,583 Total 23,157 64,076 Notes: (i) The Group entered into sale and leaseback agreements with independent parties, to which the Group transferred the ownership of certain instruments and thereby obtained cash proceeds (“consideration”) with the following details: Date Term Consideration Guarantee/pledge RMB’000 March 2019 2 year 25,000 (a) June 2019 3 year 6,960 (b) July 2020 2 year 12,800 (c) (a) guarantee provided by a director of the Group and pledge of all equity interest of Beijing Genetron Medical Laboratory Co., Ltd., a subsidiary of the Company (b) corporate guarantee provided by Genetron Health (c) guarantee provided by a director of the Group The Group continues to have control over the assets which make the above ownership transfers not qualify as sales transactions as a result. The proceeds received by the Group are thus in substance borrowings with the assets not being derecognized. The interest rates of these borrowings are approximately 6%-8% (ii) The Group obtained bank facilities by which loan amounts were drawn with following details: Date of obtaining facility Facility Facility Loan amount drawn Loan period Guarantee /pledge Interest rate RMB’000 RMB’000 June 2019 2 year 5,000 5,000 June 2019 – June 2020 (a) 5.0 % March 2020 1 year 10,000 10,000 March 2020 – March 2021 (b) 3.7 % March 2020 1 year 30,000 30,000 March 2020 – March 2021 (c) 2.0 % May 2020 2 year 25,000 10,000 October 2020 – October 2021 (d) 3.5 % (a) guaranteed by an independent party (the “guarantor”), to which each of Mr. Sizhen Wang (a director of the Group) and Genetron Health have provided counter-guarantees, in addition to a facility fee of RMB110,000 paid by the Group. To provide the counter-guarantee Genetron Health has to pledge not less than RMB10 million of certain of its receivables to the guarantor. (b) guaranteed by an independent party, to which Mr. Sizhen Wang has provided counter-guarantee, in addition to a facility fee of RMB130,000 paid by the Group. (c) guaranteed by Mr. Sizhen Wang. (d) guaranteed by an independent party (the “guarantor”), to which each of Mr. Sizhen Wang, Genetron Health and certain of its subsidiaries have provided counter-guarantees, in addition to a facility fee of RMB138,000 paid by the Group. To provide the counter-guarantees Genetron Health and certain of its subsidiaries have to pledge a patented technology and not less than RMB20 million of certain of Genetron Health’s receivables to the guarantor (net book balance pledged as of December 31, 2020 approximated RMB29 million). |
Other payables and accruals
Other payables and accruals | 12 Months Ended |
Dec. 31, 2020 | |
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Other payables and accruals | 29. Other payables and accruals As at December 31, 2019 2020 RMB’000 RMB’000 Payroll and welfare payables 19,205 30,625 Accrued professional service fees and listing expenses 27,375 10,437 Accrued taxes other than income tax 4,633 1,668 Amount due to an investor (Note (a)) 15,000 — Payable to investors for shares repurchase 3,539 3,283 Leaver provisions related to restricted shares (Note 27(b), (c)) 3,578 — Deferred income from ADS depository (Note (b)) — 19,766 Others 36,353 45,385 109,683 111,164 Note: (a) Upon the Reorganization certain original preferred shareholders of Genetron Health (i) subscribed preferred shares of the Company to replace their historical investment in Genetron Health; and (ii) would thereby be repaid an equivalent amount for their historical investment in Genetron Health. As at December 31, 2019, a cash consideration of RMB15 million for the subscription of one of those investors had been received by the Company while the historical investment in Genetron Health had not yet been repaid to the investor. This balance to be repaid was non-interest 0 Similarly during 2020, certain investors subscribed for approximately RMB299 million of investment in the Company and received repayment of the same amount of their historical investment in Genetron Health in the same year. (b) After listing in 2020 the Company entered into an agreement with a bank to deposit its ADSs for 5 years (the “deposit period”) and received a fee of US$3.4 million (equivalent to approximately RMB23 million) which is to be amortized over the deposit period. |
Financial instruments with pref
Financial instruments with preferred rights | 12 Months Ended |
Dec. 31, 2020 | |
Financial instruments [Abstract] | |
Financial instruments with preferred rights | 30. Financial instruments with preferred rights The Group had completed a series of financing by issuing shares with preferred rights including conversion feature, liquidation preferences and redemption rights (“Preferred Shares”), of which the preferred shares issued by Genetron Health before July 2019 were converted to shares of the Company on one-for-five Date of subscription Round Note Number of Preferred Shares Subscription/ (repurchase) (in thousands) RMB’000 July 17, 2015 Series A-1 39,200 70,000 August 6, 2015 Series A-1 8,400 15,000 September 24, 2015 Series A-2 19,760 50,000 September 18, 2016 Series B 25,358 100,000 November 2, 2016 Series B 18,005 71,000 October 10, 2017 Series C 51,525 350,000 December 29, 2017 Series C 8,835 60,000 November 18, 2019 Series A-1, A-2, B 24(v) (6,933 ) (48,105 ) November 19, 2019 Series C-2 24(v) 15,205 105,325 November 19, 2019 Series D 24(vi) 34,148 351,243 February 19, 2020 Series D-2 24(vii) 6,829 70,026 220,332 The Group designated the entire instruments as financial liabilities at FVPL with the changes in the fair value recorded in the consolidated statements of loss, except for the changes in fair value due to own credit risk, which were recorded in other comprehensive losses. The accumulated fair value change due to own credit risk amounting to RMB27,355,000 was reclassified to accumulated losses upon conversion of these financial instruments with preferred rights into ordinary shares. Movements of financial instruments with preferred rights during the years ended December 31, 2018, 2019 and 2020 are: RMB’000 Year ended December 31, 2018 At January 1, 2018 1,018,019 Issuance of Series C preferred shares 60,000 Changes in fair value recognized in profit or loss 233,632 Changes in fair value due to own credit risk recognized in OCI 9,061 At December 31, 2018 1,320,712 Year ended December 31, 2019 At January 1, 2019 1,320,712 Repurchase of Series A-1, A-2, (48,105 ) Issuance of Series C-2 105,325 Issuance of Series D preferred shares 351,243 Changes in fair value recognized in profit or loss 333,401 Changes in fair value due to own credit risk recognized in OCI 17,299 Other loss 26,542 Exchange differences (83 ) At December 31, 2019 2,106,334 Year ended December 31, 2020 At January 1, 2020 2,106,334 Issuance of Series D-2 70,026 Changes in fair value recognized in profit or loss 2,823,370 Changes in fair value due to own credit risk recognized in OCI 72 Conversion into ordinary shares (4,999,811 ) Others 9 At December 31, 2020 — |
Cash flow information
Cash flow information | 12 Months Ended |
Dec. 31, 2020 | |
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Cash flow information | 31. Cash flow information (a) Reconciliation from loss before income tax to cash used in operations Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loss before income tax (464,993 ) (676,034 ) (3,069,043 ) Adjustments for: Depreciation on - property, plant and equipment 26,752 30,458 33,466 - right-of-use — 14,784 18,277 Amortization on intangible assets 1,106 1,344 1,452 Provision for impairment of trade and other receivables and contract assets 658 2,733 14,843 Investment income from wealth management products (7,146 ) (947 ) (4,652 ) Fair value loss – net on other financial assets at FVPL — — 2,348 Gain on - redemption of derivative financial instruments — — (1,550 ) - disposal of property, plant and equipment — (1,505 ) — Amortization on deferred income of ADS depository — — (2,405 ) Finance (income)/costs - net (68 ) 9,419 (22,270 ) Share-based compensation expenses 29,644 35,884 29,951 Losses related to financial instruments with preferred rights 233,632 359,943 2,823,370 Others — — (110 ) Changes in working capital: - Inventories (8,846 ) 3,719 (7,075 ) - Contract assets 444 1,234 (50 ) - Other current assets (11,689 ) (6,687 ) 7,211 - Trade receivables (27,410 ) (48,151 ) (95,719 ) - Other receivables and prepayments (4,468 ) (33 ) (22,894 ) - Amounts due from related parties (3,674 ) (634 ) 850 - Trade payables 2,938 26,633 (9,073 ) - Contract liabilities 5,468 9,322 (9,772 ) - Other payables and accruals 26,636 41,561 11,948 Cash used in operations (201,016 ) (196,957 ) (300,897 ) (b) Reconciliation of liabilities arising from financing activities Financial rights (Note 30) Amounts due to Borrowings Loans from a Lease Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At January 1, 2018 1,018,019 — — — — 1,018,019 Cash received 60,000 — — — — 60,000 Non-cash 242,693 — — — — 242,693 At December 31, 2018 1,320,712 — — — — 1,320,712 At January 1, 2019 1,320,712 — — — 41,418 1,362,130 Cash received 456,568 15,000 32,955 35,000 — 539,523 Cash repaid (43,279 ) — (9,798 ) (35,000 ) (14,362 ) (102,439 ) Non-cash 372,333 — — — 17,431 389,764 At December 31, 2019 2,106,334 15,000 23,157 — 44,487 2,188,978 At January 1, 2020 2,106,334 15,000 23,157 — 44,487 2,188,978 Cash received 70,026 299,051 61,213 — — 430,290 Cash repaid — (314,388 ) (20,703 ) — (19,577 ) (354,668 ) Non-cash (2,176,360 ) 337 409 — 34,691 (2,140,923 ) At December 31, 2020 — — 64,076 — 59,601 123,677 |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2020 | |
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Commitments | 32. Commitments (a) Capital commitments As at December 31, 2019 2020 RMB’000 RMB’000 Equipment and intangible assets - Contracted but not provided for 1,790 14,578 (b) Lease commitments The Group leases certain office buildings under non-cancellable From January 1, 2019, the Group has recognized right-of-use low-value non-cancellable year-end As at December 31, 2019 2020 RMB’000 RMB’000 No later than 1 year 615 300 Later than 1 year but no later than 3 years 15 — 630 300 As at December 31, 2020, undiscounted future lease payments amounted to RMB5,963,000 (2019: nil) are committed by the Group with lease commencement dates subsequent to the balance sheet date. They will be recognised as right-of-use |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Related party transactions | 33. Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control or exercise significant influence over the other party. Parties are also considered to be related if they are subject to common control. Members of key management of the Group and their close family members are also considered as related parties. Names of related parties Nature of relationship Mr. Sizhen Wang A director of the Group Mr. Weiwu He A director of the Group Vcanbio Gene Technology Corp., Ltd. An investor of the Group Edigene (Beijing) Inc. A director of this entity is also a director of the Company Juventas Cell Therapy Ltd. Certain directors of this entity are also directors of the Group TCRCure Biopharma (Beijing) Ltd. Certain directors of this entity are also directors of the Group TCRCure Biopharma (Chongqing) Ltd. Certain directors of this entity are also directors of the Group FHP Holdings Ltd. An entity controlled by a director of the Company In addition to other related party transactions and balances disclosed elsewhere in these financial statements, the following is a summary of significant transactions and balances with related parties during the reported periods and at each year-ends. (a) Interests in subsidiaries of the Company are set out in Note 1.2. (b) Significant transactions with related parties (i) Provision of services Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Edigene (Beijing) Inc. 97 1,071 623 Vcanbio Gene Technology Corp., Ltd. 1,236 — — TCRCure Biopharma (Beijing) Ltd. — 588 — TCRCure Biopharma (Chongqing) Ltd. — — 898 1,333 1,659 1,521 (ii) Loans to/from related parties Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loans to Mr. Sizhen Wang: - Loans advanced 43,550 5,000 — - Loans repaid (41,000 ) (10,525 ) — - Interest charged 749 243 — - Interest paid — (992 ) — Loans to Mr. Sizhen Wang were unsecured, interest-bearing at 0%-4.35% Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loans from Juventas Cell Therapy Ltd.: - Loans advanced — 35,000 — - Loans repaid — (35,000 ) — - Interest charged — 1,192 — - Interest paid — (1,192 ) — Loans from Juventas Cell Therapy Ltd. were guaranteed by Mr. Sizhen Wang, interest-bearing at 12% per annum and repaid in 2019. (c) Balances with related parties (i) Trade receivables As at December 31, 2019 2020 RMB’000 RMB’000 Edigene (Beijing) Inc. 456 214 TCRCure Biopharma (Beijing) Ltd. 608 — 1,064 214 (ii) Other payables As at December 31, 2019 2020 RMB’000 RMB’000 FHP Holdings Ltd. 34 24 (d) Key management compensation Key management includes directors, supervisors and senior management personnel. The compensations paid or payable to key management for employee services are shown below: Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Salaries and other short-term employee benefits 5,250 5,034 8,112 Contributions to pension plans 50 125 107 Share-based compensation expenses 19,952 17,454 15,679 25,252 22,613 23,898 |
Restricted net assets and paren
Restricted net assets and parent company only condensed financial information | 12 Months Ended |
Dec. 31, 2020 | |
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Restricted net assets and parent company only condensed financial information | 34. Restricted net assets and parent company only condensed financial information The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Company’s subsidiaries and VIEs incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In accordance with the PRC laws and regulations, statutory reserve funds shall be made and can only be used for specific purposes and are not distributable as cash dividends. As a result of these PRC laws and regulations that require annual appropriation of 10% of net after-tax The Company performs a test on the restricted net assets of its consolidated subsidiaries, VIEs and subsidiaries of VIEs (the “restricted net assets”) in accordance with Securities and Exchange Commission Regulation S-X 4-08 (a) Balance sheets As at December 31, 2019 2020 2020 RMB’000 RMB’000 US$’000 Note 2.5(d) ASSETS Non-current assets Interests in subsidiaries 1,839,044 2,859,204 438,192 Prepayments 4,172 — — Total non-current 1,843,216 2,859,204 438,192 Current assets Other receivables and prepayments 645 12,116 1,857 Amounts due from related parties 4,674 6,982 1,070 Financial assets at fair value through profit or loss — 31,953 4,897 Derivative financial instruments — 196 30 Cash and cash equivalents 122,104 941,541 144,297 Total current assets 127,423 992,788 152,151 Total assets 1,970,639 3,851,992 590,343 LIABILITIES Non-current Financial instruments with preferred rights 2,106,334 — — Total non-current 2,106,334 — — Current liabilities Other payables and accruals 26,492 27,838 4,266 Amounts due to related parties 564 557 86 Total current liabilities 27,056 28,395 4,352 Total liabilities 2,133,390 28,395 4,352 Net (liabilities)/assets (162,751 ) 3,823,597 585,991 SHAREHOLDERS’ (DEFICIT)/EQUITY Share capital 17 59 9 Share premium — 6,657,562 1,020,316 Treasury shares (3,578 ) — — Other reserves 100,723 279,479 42,831 Accumulated losses (259,913 ) (3,113,503 ) (477,165 ) Total shareholders’ (deficit)/equity (162,751 ) 3,823,597 585,991 (b) Statements of loss Year ended December 31, 2018 2019 2020 2020 RMB’000 RMB’000 RMB’000 US$’000 Note 2.5(d) Administrative expenses — (18,199 ) (19,480 ) (2,986 ) Other income and gains - net — — 833 128 Finance costs - net — (6,303 ) (1,230 ) (189 ) Financial instruments with preferred rights - loss on fair value changes — (208,869 ) (2,823,370 ) (432,700 ) - other loss — (26,542 ) — — Loss before income tax — (259,913 ) (2,843,247 ) (435,747 ) Income tax expense — — — — Loss for the year — (259,913 ) (2,843,247 ) (435,747 ) (c) Statements of cash flows Year ended December 31, 2018 2019 2020 2020 RMB’000 RMB’000 RMB’000 US$’000 Note 2.5(d) Cash flows from operating activities Cash used in operations — (10,805 ) (36,241 ) (5,554 ) Net cash used in operating activities — (10,805 ) (36,241 ) (5,554 ) Cash flows from investing activities Investment in subsidiaries — (231,062 ) (1,006,010 ) (154,178 ) Purchase of wealth management products — — (21,858 ) (3,350 ) Purchase of equity security — — (13,721 ) (2,103 ) Purchase of derivative financial instruments — — (68,078 ) (10,433 ) Redemption of derivative financial instruments — — 69,628 10,671 Others — — (294 ) (45 ) Net cash used in investing activities — (231,062 ) (1,040,333 ) (159,438 ) Cash flows from financing activities Proceeds from issuance of ordinary shares — 18 1,676,816 256,983 Proceeds from ADS depository — — 23,069 3,535 Proceeds from issuance of financial instruments with preferred rights — 456,568 70,026 10,732 Issuance costs of financial instruments with preferred rights — (6,303 ) — — Repurchase of ordinary shares — (54,479 ) (4,102 ) (629 ) Repurchase of financial instruments with preferred rights — (43,279 ) — — Proceeds from an investor upon reorganization — 15,000 299,051 45,832 Payments in relation to listing expenses — (1,081 ) (21,691 ) (3,324 ) Net cash generated from financing activities — 366,444 2,043,169 313,129 Net increase in cash and cash equivalents — 124,577 966,595 148,137 Cash and cash equivalents at beginning of year — — 122,104 18,713 Exchange differences of cash and cash equivalents — (2,473 ) (147,158 ) (22,553 ) Cash and cash equivalents at end of year — 122,104 941,541 144,297 (d) The Company did not have any significant guarantees, capital or other commitments as of December 31, 2019 and 2020. The VIEs and subsidiaries of VIEs did not pay any dividends to the Company for the reported periods. |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
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Basis of preparation | 2.1 Basis of preparation These consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). The financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets at fair value through profit or loss, derivative financial instruments and financial instruments with preferred rights. The financial statements were authorized for issue by the board of directors of the Company on April 9 |
New standards, amendments to standards and interpretations adopted by the Group | 2.2 New standards, amendments to standards and interpretations adopted by the Group The Group has applied the following for the first time for their annual reporting period commencing January 1, 2020: • Amendments to IAS 1 and IAS 8 Definition of Material • Amendments to IFRS 3 Definition of a Business • Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform • Amendments to IFRS 16 COVID-19-related • Revised Conceptual Framework for Financial Reporting The above amendments do not have any material impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. 2.3 New standards, amendments to standards and interpretations not yet adopted Effective for annual Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform — Phase 2 January 1, 2021 Amendments to IAS 16 Property, Plant and Equipment: Proceeds before intended use January 1, 2022 Amendments to IAS 37 Onerous Contracts – Cost of Fulfilling a Contract January 1, 2022 Amendments to IFRS 3 Reference to the Conceptual Framework January 1, 2022 Annual Improvements 2018–2020 cycle January 1, 2022 IFRS 17 Insurance Contracts January 1, 2023 Amendments to IAS 1 Classification of Liabilities as Current or Non- current January 1, 2023 There are no new standards, amendments to existing standards or interpretations that are not yet effective and would be expected to have a material impact to the Group. |
Subsidiaries | 2.4 Subsidiaries 2.4.1 Consolidation A subsidiary is an entity (including VIE, as stated in Note 1 above) over which the Group has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. Intra-group transactions, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. (a) Subsidiaries controlled through Contractual Arrangements The PRC Subsidiaries have entered into Contractual Arrangements, including the Shareholder Voting Rights Entrustment Agreements, Spousal Consent Letters, Equity Interest Pledge Agreements, Exclusive Business Cooperation Agreements and Exclusive Option Agreements, with the VIEs and their equity holders. (i) Agreements that provide the Company with effective control over the VIEs Shareholder Voting Rights Entrustment Agreements Pursuant to the agreements among the PRC Subsidiaries, VIEs and the equity holders of VIEs, these equity holders irrevocably authorize the PRC Subsidiaries or any person(s) designated by the PRC Subsidiaries to act as his or her attorney-in-fact to exercise all of his or her rights as an equity holder of the VIEs, including, but not limited to, the right to call and attend shareholders’ meetings, execute and deliver any and all written resolutions and meeting minutes as a shareholder, vote by itself or by proxy on any matters discussed on shareholders’ meetings, sell, transfer, pledge or dispose of any or all of the shares, nominate, appoint or remove the directors, supervisors and senior management, and other shareholders rights conferred by the articles of association of the VIEs and the relevant laws and regulations. Spousal Consent Letters The spouse of each of Mr. Sizhen Wang and certain other individuals has signed spousal consent letters. Under the spousal consent letter, the spouse unconditionally and irrevocably waives any rights or entitlements whatsoever to such shares that may be granted to his/her pursuant to applicable laws and undertakes not to make any assertion of rights to such shares. The spouse agrees and undertakes that he/she will take all necessary actions to ensure the proper performance of the Contractual Arrangements, and will be bound by the Contractual Arrangements in case he/she obtains any equity of the VIEs due to any reason. Equity Interest Pledge Agreements Pursuant to the agreements among the PRC Subsidiaries and the equity holders of VIEs, the equity holders of VIEs have pledged 100% equity interest in the VIEs in favor of the PRC Subsidiaries to guarantee the performance by the VIEs and their equity holders of their obligations under the Exclusive Business Cooperation Agreements, the Exclusive Option Agreements and any other agreement to be executed among the PRC Subsidiaries, VIEs and the equity holders from time to time. If the VIEs or their equity holders breach their contractual obligations under the agreements, the PRC Subsidiaries, as pledgees, will have the right to dispose of the pledged shares entirely or partially. The equity holders of the VIEs also agreed, without the PRC Subsidiaries’ prior written consents, not to transfer the pledged shares, establish or permit the existence of any security interest or other encumbrance on the pledged shares, or dispose of the pledged shares by any other means, except by the performance of the Exclusive Option Agreements. (ii) Agreements that allow the Company to receive economic benefits from the VIEs Exclusive Business Cooperation Agreements Pursuant to the agreements between the PRC Subsidiaries and VIEs, the PRC Subsidiaries or their designated entities affiliated have the exclusive right to provide the VIEs with technical support, business support and consulting services in return for fees equal to 100% of the consolidated net profits of the VIEs. Without the PRC Subsidiaries’ prior written consents, the VIEs shall not, directly and indirectly, obtain the same or similar services as provided under the agreements from any third party, or enter into any similar agreement with any third party. The PRC Subsidiaries have the right to determine the service fee charged to the VIEs under the agreements by considering, among other things, the complexity of the services, the time spent by employees of the PRC Subsidiaries to provide the services, contents and commercial value of the service provided, as well as the benchmark price of similar services in the market. The PRC Subsidiaries will have the exclusive ownership of all intellectual property rights developed by performance of the agreements. (iii) Agreements that provide the Company with the option to purchase the equity interests in the VIEs Exclusive Option Agreements Pursuant to the agreements among the PRC Subsidiaries, VIEs an d In the opinion of the Company’s management, the Contractual Arrangements enable the PRC Subsidiaries and the Group to: • exercise effective control over the VIEs; • receive substantially all of the economic benefits of the VIEs; and • have an exclusive option to purchase all or part of the equity interest in and/or assets of the VIEs when and to the extent permitted by laws. The Group does not have any equity interests in the VIEs. As a result of the Contractual Arrangements, the Group has rights to variable returns from its involvement in the VIEs and has the ability to affect those returns through its power over the VIEs, and is thereby considered to control the VIEs. Consequently, the Company regards the VIEs as indirect subsidiaries under IFRS. The Group has included the financial position and results of the VIEs and their subsidiaries in the consolidated financial statements. There is currently no contractual arrangement that requires the Company to provide additional financial support to the VIEs. (b) Risks in relation to VIEs and subsidiaries of VIEs After completion of the Reorganization, a significant part of the Group’s business is conducted through VIEs and subsidiaries of VIEs. The Company becomes the primary beneficiary through the Contractual Arrangements. In the opinion of management, the Contractual Arrangements are in compliance with PRC laws and are legally enforceable. However, uncertainties regarding the interpretation and application of current and future PRC laws, regulations and rules could limit the Company’s ability to enforce the Contractual Arrangements. In March 2019, the National People’s Congress of the PRC adopted the PRC Foreign Investment Law, which became effective on January 1, 2020. Among other things, the PRC Foreign Investment Law defines the “foreign investment” as investment activities in China by foreign investors in a direct or indirect manner, including those circumstances explicitly listed above as establishing new projects or foreign invested enterprises or acquiring shares of enterprises in China, and other approaches of investment as stipulated by laws, administrative regulations or otherwise regulated by the State Council. The PRC Foreign Investment Law leaves uncertainty as to whether foreign investors’ controlling PRC onshore variable interest entities via contractual arrangements will be recognized as “foreign investment” and thus be subject to the restrictions/prohibitions on foreign investments. Current PRC laws and regulations impose certain restrictions or prohibitions on foreign ownership of companies that engage in the development and application of technologies for diagnosis and treatment of human stem cells and genes (“genomics business”), to which the precision oncology service of the Group relates. Pursuant to the Special Administrative Measures (Negative List) issued by the National Development and Reform Committee and Ministry of Commerce of the PRC on June 30, 2019, which came into force on July 30, 2019, certain industries are specifically prohibited for foreign investment, including genomics business. To comply with PRC laws and regulations, the Group conducts related business in China through VIEs. If the corporate structure of the Group or the Contractual Arrangements between the VIEs and subsidiaries of VIEs and their respective equity holders were found to be in violation of the current or future PRC laws and regulations, the PRC government could: • revoke the Group’s business and operating licenses; • require the Group to discontinue or restrict its operations; • restrict the Group’s right to collect revenues; • require the Group to restructure the operations, re-apply • impose additional conditions or requirements with which the Group may not be able to comply; or • take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business. The Company’s ability to conduct its business may be negatively affected if the PRC government carries out any of the aforementioned actions. As a result, the Company may not be able to consolidate its VIEs and subsidiaries of VIEs in its consolidated financial statements as it may lose the ability to exert effective control over them or it may lose the ability to receive economic benefits from them. For the year ended December 31, 2018 (and the period from January 1, 2019 to completion of the Reorganization in July 2019), the financial statements of VIEs and subsidiaries of VIEs were substantially the same stated with the financial statements of the Group since the Company and most other entities within the Group did not conduct any business until the Reorganization completion. Summarized financial information of the Group’s VIEs and subsidiaries of VIEs for the years ended December 31, 2019 and 2020: As at December 31, 2019 2020 2020 Non-current 138,033 169,152 25,924 Current assets 298,815 335,772 51,459 Total assets 436,848 504,924 77,383 Non-current 265,353 780,519 119,620 Current liabilities 169,522 229,062 35,105 Total liabilities 434,875 1,009,581 154,725 Year ended December 31, 2019 2020 2020 RMB’000 RMB’000 US$’000 Note 2.5(d) Revenue 323,425 424,485 65,055 Loss for the year (406,239 ) (236,102 ) (36,184 ) Net cash used in operating activities (192,068 ) (196,594 ) (30,129 ) Net cash used in from investing activities (96,807 ) (9,223 ) (1,414 ) Net cash generated from financing activities 238,061 200,767 30,769 Net decrease in cash and cash equivalents (50,814 ) (5,050 ) (774 ) The above includes intercompany balances and transactions which have been eliminated on the Company’s consolidated financial statements. As of December 31, 2019 and 2020, the total assets of the Group’s VIEs and subsidiaries of VIEs mainly include cash and cash equivalents, financial assets at fair value through profit or loss, trade receivables, other receivables and prepayments, inventories, property, plant and equipment as well as right-of-use (c) Business combination The Group applies the acquisition method to account for business combinations except for business combinations under common control. For acquisition method, the consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred in c The Group recognizes any non-controlling acquisition-by-acquisition non-controlling Acquisition-related costs are expensed as incurred. The excess of the consideration transferred, the amount of any non-controlling non-controlling There is no business combination or non-controlling |
Foreign currency translation | 2.5 Foreign currency translation (a) Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (“functional currency”). The financial statements are presented in Renminbi (“RMB”), which is the functional currency of most entities within the Group, unless otherwise stated. (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in profit or loss. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statements of loss within finance income/(costs). All other foreign exchange gains and losses are presented in the statements of loss within other income and gains/(losses). (c) Group companies The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • income and expenses for each statement of comprehensive income/(loss) are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and • all resulting currency translation differences are recognized in other comprehensive income/(loss). (d) Convenience translation Translations of the consolidated balance sheets, the consolidated statements of loss, comprehensive loss and cash flows from RMB into United States dollars (“US$”) as of and for the year ended December 31, 2020 are solely for the convenience of the readers and calculated at the rate of US$1.00=RMB6.5250 representing the exchange rate as of December 31, 2020 set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate, or at any other rate, on December 31, 2020. |
Property, plant and equipment | 2.6 Property, plant and equipment Property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred. Depreciation is calculated using the straight-line method to allocate their cost, net of their residual values, over their estimated useful lives or, in the case of leasehold improvements and certain leased plant and equipment, the shorter lease term as follows: Instruments and equipment 3-5 years Office equipment and furniture 3-5 Transporting equipment 4 years Leasehold improvements shorter of lease period or 3-5 years The assets’ residual values and useful lives are reviewed and adjusted if appropriate at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (Note 2.8). Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within other income and gains/(losses) in the statements of loss. |
Intangible assets | 2.7 Intangible assets (a) Software Acquired software licenses are capitalized on the basis of the costs incurred to acquire and bring the specific software into usage. These costs are amortized using the straight-line method over their estimated useful lives of about 5-10 (b) Patented technologies Separately acquired patent technologies are shown at historical cost. Patent technologies acquired in a business combination are recognized at fair value at the acquisition date. They have finite useful lives based on the terms of patents and are subsequently carried at cost less accumulated amortization and impairment losses. (c) Other intangible assets Other intangible assets were recognized upon a historical acquisition of a subsidiary. It is amortized using the straight-line method over the estimated useful life of the intangible assets of 4 years. (d) Research and development The Group incurs costs and efforts on research and development activities. Research expenditures are charged to the profit or loss as an expense in the period the expenditure is incurred. Development costs are recognized as assets if they can be directly attributable to a newly developed service or product and all the following can be demonstrated: • the technical feasibility to complete the development project so that it will be available for use or sale; • the intention to complete the development project to use or sell the service or product; • the ability to use or sell the service or product; • the manner in which the development project will generate probable future economic benefits for the Group; • the availability of adequate technical, financial and other resources to complete the development project and use or sell the service or product; and • the expenditure attributable to the asset during its development can be reliably measured. The development cost of an internally generated intangible asset is the sum of the expenditure incurred from the date the asset meets the recognition criteria above to the date when it is available for use. The development costs capitalized in connection with the intangible asset include costs of materials and services used or consumed, employee costs incurred in the creation of the asset and an appropriate portion of relevant overheads. Capitalized development costs are amortized using the straight-line method over the life of the related service or product. Amortization shall begin when the asset is available for use. Development expenditures not satisfying the above criteria are recognized in the profit or loss as incurred. |
Impairment of non-financial assets | 2.8 Impairment of non-financial Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. No goodwill or intangible assets with an indefinite useful life were recognized during the reported periods. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial |
Financial assets | 2.9 Financial assets (a) Classification The Group classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through other comprehensive income (“OCI”) or through profit or loss), and • those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through OCI (“FVOCI”). The Group reclassifies debt investments when and only when its business model for managing those assets changes. (b) Recognition and derecognition Regular way purchases and sales of financial assets are recognized on trade date, being the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. (c) Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (“FVPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. (i) Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Group classifies its debt instruments: • Amortized cost: Assets that are held for collection of contractual cash flows, where those cash flows represent solely payments of principal and interest, are measured at amortized cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other income and gains/(losses). Impairment losses are presented as separate line item in the statements of loss. • FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other income and gains/(losses). Interest income from these financial assets is included in finance income using the effective interest rate method. Impairment losses are presented as separate line item in the statements of loss. • FVPL: Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented within other income and gains/(losses) in the period in which it arises. (ii) Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss as other income and gains when the Group’s right to receive payments is established. Changes in the fair value of financial assets at FVPL are recognized in other income and gains/(losses) in the statements of loss as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. (d) Impairment The Group assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables and contract assets with no significant financing component, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the receivables. |
Derivatives | 2.10 Derivatives Derivatives are initially recognized at fair value on the date a derivative contract is entered into, and they are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the nature of the item being hedged. Trading derivatives are classified as a current asset or liability. The Group’s derivative instruments do not qualify for hedge accounting. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in profit or loss and are included in other income and gains/(losses). |
Inventories | 2.11 Inventories Raw materials, work in progress and finished goods are stated at the lower of cost and net realizable value. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs and related production overheads (based on normal operating capacity). Costs of purchased inventories are determined after deducting rebates and discounts. Cost is determined using the weighted average method. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. |
Trade and other receivables | 2.12 Trade and other receivables Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collection of trade and other receivables is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current Trade and other receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Group holds the trade and other receivables with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. See Note 3.1(b) for a description of the Group’s impairment policies. |
Cash and cash equivalents | 2.13 Cash and cash equivalents For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheets. |
Share capital | 2.14 Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or awards are shown in equity as a deduction, net of tax, from the proceeds. |
Trade and other payables | 2.15 Trade and other payables These amounts represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method. Trade payables are unsecured with usual payment terms of 30 days. |
Borrowings | 2.16 Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. Borrowings are removed from the balance sheets when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. |
Borrowing costs | 2.17 Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Other borrowing costs are expensed in the period in which they are incurred. |
Financial instruments with preferred rights | 2.18 Financial instruments with preferred rights Financial instruments with preferred rights issued by the Group are convertible into ordinary shares upon the closing of a qualified IPO or at the option of the holders and redeemable upon occurrence of certain future events. The Group designates the financial instruments with preferred rights as financial liabilities at fair value through profit or loss. They are initially recognized at fair value. Any directly attributable transaction costs are expensed in the consolidated statements of loss. Subsequent to initial recognition, the amount of change in the fair value of the financial instruments with preferred rights that is attributable to changes in the credit risk of that liability shall be presented in OCI with the remaining changes in fair value recognized in profit or loss. As at December 31, 2019, management believed that there were no triggering events resulting in redemption in 12 months from each end of the reporting period and so the financial instruments with preferred rights were classified as non-current |
Current and deferred income tax | 2.19 Current and deferred income tax The income tax expense or credit for the period is the tax payable on the current period’s taxable income, based on the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively. (a) Current income tax The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Company and its subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amounts expected to be paid to the tax authorities. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. (b) Deferred income tax Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are recognized only if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. Deferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and tax bases of investments in foreign operations where the Group is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. |
Employee benefits | 2.20 Employee benefits (a) Short-term obligations Liabilities for wages and salaries, including non-monetary (b) Pension obligations The Group incorporated in the PRC contributes based on certain percentage of the salaries of the employees to a defined contribution retirement benefit plan organized by relevant government authorities in the PRC on a monthly basis. The government authorities undertake to assume the retirement benefit obligations payable to all existing and further retired employees under these plans and the Group has no further obligation for post-retirement benefits beyond the contributions made. Contributions to these plans are expensed as incurred. Assets of the plans are held and managed by government authorities and are separate from those of the Group. (c) Housing funds and medical insurance The PRC employees of the Group are entitled to participate in various government-supervised housing funds and medical insurance. The Group contributes on a monthly basis to these funds based on certain percentage of the salaries of the employees, subject to certain ceiling. The Group’s liability in respect of these funds is limited to the contribution payable in each period and recognized as employee benefit expense when they are due. |
Share-based payment | 2.21 Share-based payment Share-based compensation benefits (including restricted ordinary shares, share options and restricted share units (“RSU”), collectively the “awards”) are provided to employees and consultants via the Share Incentive Plan and Share Incentive Scheme with information being set out in Note 27(a). The fair value of awards granted is recognized as an employee benefits expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the awards granted: • including any market performance conditions (e.g. the entity’s share price) • excluding the impact of any service and non-market • including the impact of any non-vesting The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each period, the Group revises its estimates of the vesting period and the number of awards that are expected to vest based on the service and non- market performance vesting conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity. The Group applies prospective treatment in respect of accounting for modifications of equity-settled awards that reduce the vesting period, if any. |
Revenue recognition | 2.22 Revenue recognition Revenue is measured at the fair value of the consideration received or receivable. Revenues are recognized when, or as, the control of the goods or services is transferred to the customer. Depending on the terms of the contract and the laws applicable, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if the Group’s performance: • provides all of the benefits received and consumed simultaneously by the customer; • creates and enhances an asset that the customer controls as the Group performs; or • does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. If control of the goods and services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services. The progress towards complete satisfaction of performance obligation, depending on the nature of the goods and services to be transferred, is measured based on one of the following methods that best depicts the Group’s performance in satisfying the performance obligation: • direct measurements of the value of individual services transferred by the Group to the customer; or • the Group’s efforts or inputs to the satisfaction of the performance obligation. When determining the transaction price to be allocated to different performance obligations, the Group first determines the fees that the Group entitles in the contract period. The Group includes in the transaction price some or all of an amount of variable considerations only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. If contracts involve the sale of multiple goods, goods followed by related services, or multiple services, the transaction price will be allocated to each performance obligation based on their relative stand-alone selling prices. If the stand-alone selling prices are not directly observable, they are estimated based on expected cost plus a margin or adjusted market assessment approach, depending on the availability of observable information. The Group has two main revenue streams which are (a) diagnosis and monitoring; and (b) development services. (a) Diagnosis and monitoring Diagnosis and monitoring as well as early screening (collectively “precision oncology testing”) refer to those performed in the form of laboratory developed tests (“LDT”) services and in-vitro The testing is designed for each individual. The Group recognizes revenue over time when it has an enforceable right to payment for performance completed to date. The progress of precision oncology recognized over time is measured based on the Group’s input to the satisfaction of related performance obligation. Revenue from the testing is recognized at a point in time when the Group does not have enforceable right to payment for performance completed to date. For those arrangements, the Group recognizes revenue when the report is delivered. Revenue from sales of IVD products is recognized when control of IVD products is transferred upon that hospitals and institutional customers have received and accepted the products. (b) Development services Revenue from development services refers to the research services and sequencing services. Research services are recognized over time when it has an enforceable right to payment for performance completed to date. The progress of research services is measured based on the Group’s inputs or outputs to the satisfaction of related performance obligation of research services. Sequencing services are recognized at a point in time when the Group does not have enforceable right to payment for performance completed to date. For those arrangements, the Group recognizes revenue when the report is delivered. (c) Principal-agent consideration The Group performs the underlying precision oncology testing and development services. When another party is involved in providing the service to an end customer, the Group will determine whether the other party is the principal or the agent to the end customer. The Group reports the revenue on a gross or net basis depending on whether the other party is acting as a principal or an agent to the end customer in a transaction. This determination is based on an evaluation of various factors including but not limited to whether the other party (i) is the primary obligor in the arrangement; (ii) has latitude in establishing the selling price; and (iii) has inventory risk before the specified good or service is transferred to a customer or after transfer of control to the customer. When the other party is acting as a principal to the end customer, the Group considers the other party as its customer and records the net amount from the other party as revenue. When the other party is acting as an agent, the Group considers the end customer as its customer and records the gross amount from the end customer as revenue. (d) Financing components The Group does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeding one year. As a consequence, the Group does not adjust any of the transaction prices for the time value of money. (e) Contract assets and liabilities When either party to a contract has performed, the Group presents the contracts in balance sheets as a contract asset or a contract liability, depending on the relationship between the Group’s performance and customers’ payment. A contract asset is the Group’s right to consideration in exchange for goods or services which the Group has transferred to customers. Contract asset is subject to the impairment of expected credit losses model under IFRS 9. Incremental costs incurred to obtain a contract, if recoverable, are capitalized and presented as contract assets and subsequently amortized when the related revenue is recognized. For those costs with amortization periods of less than 1 year, they are expensed as incurred. If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract as a contract liability when the payment is made or the receivable is recorded (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. |
Cost of revenue | 2.23 Cost of revenue Cost of revenue is principally related to costs of services. Costs of services primarily consist of costs of raw materials consumed during the process of revenue-generating services, salaries and benefits for production personnel (including related share-based compensations), rental and depreciation expenses as well as maintenance of equipment, and other related costs of operations. |
Selling expenses | 2.24 Selling expenses Selling expenses primarily include promotion and marketing expenses as well as employee benefits related to sales personnel including share-based compensations. |
Administrative expenses | 2.25 Administrative expenses Administrative expenses primarily include payroll and related expenses for employees involved in general corporate functions including finance, legal and human resources, rental and depreciation expenses related to facilities and equipment used by these functions, professional service expenses and other general corporate related expenses. |
Research and development expenses | 2.26 Research and development expenses As stated in Note 2.7(d), all expenditure related to research and development is recorded in expenses when it could not meet the criteria of capitalization. |
Interest income | 2.27 Interest income Interest income is recognized using the effective interest method. |
Government grants | 2.28 Government grants Grants from the government are recognized at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. Where the grants relates to an expense item, it is recognized as income on a systematic basis over the period that the costs, which it is intended to compensate, are expensed. Where the grants relates to an asset, the fair value is credited to a deferred income account and is released to profit or loss over the expected useful life of the relevant asset on straight-line basis or deducted from the carrying amount of the asset and released to the profit or loss by way of a reduced depreciation charge. |
Leases | 2.29 Leases The Group leases various properties and office equipment. Rental contracts are typically made for fixed periods of approximately 2 to 5 years but may have extension options as described below. Contracts may contain both lease and non-lease non-lease Until December 31, 2018, leases in which a significant portion of the risks and rewards of ownership were not transferred to the Group as lessee were classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) were charged to profit or loss on a straight-line basis over the period of the lease. The Group has adopted IFRS 16 from January 1, 2019, by which leases are recognized as a right-of-use right-of-use Under IFRS 16, assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance • variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date, • amounts expected to be payable by the Group under residual value guarantees, • the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and • payments of penalties for terminating the lease, if the lease term reflects the Group exercising that termination option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the lessee’s incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use • the amount of the initial measurement of lease liability, • any lease payments made at or before the commencement date less any lease incentives received, • any initial direct costs, and • restoration costs. Right-of-use right-of-use Payments associated with short-term leases and leases of low-value In the statement of cash flows, cash flows related to leases are classified as the followings: • cash payments for the principal and interest elements of the lease liabilities are classified within financing activities; • short-term lease payments, payments for leases of low-value |
Segment reporting | 2.30 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (“CODM”). The CODM has been identified as the Chief Executive Officer (“CEO”) of the Company who makes strategic decisions, monitors daily operation of the Group, allocates resources and assesses performance of the operating segments. |
Loss per share | 2.31 Loss per share (a) Basic loss per share Basic loss per share is calculated by dividing: • the loss attributable to owners of the Company, excluding any costs of servicing equity other than ordinary shares • by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year and excluding treasury shares (b) Diluted loss per share Diluted loss per share adjusts the figures used in the determination of basic loss per share to take into account: • the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and • the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. |
General information, reorgani_2
General information, reorganization and basis of presentation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure of Interest in Subsidiaries and Variable Interest Entities | As of December 31, 2020, the Group has direct or indirect interests in the following principal subsidiaries, VIEs and subsidiaries of VIEs: Company name Place and date of incorporation Registered capital Effective equity interest held Principal activities Directly held Genetron HK Hong Kong, June 6, 2018 HK$ 10,000 100 % Investment holding Genetron Health, Inc. Delaware, United State s August 23, 2019 US$ 1 100 % Molecular diagnostic services Indirectly held : Genetron TJ Tianjin, PRC March 8, 2019 RMB 500,000,000 100 % Biotechnology development and technical services Shanghai Junran Bio-Technology Co., Ltd. Shanghai, PRC July 1, 2019 RMB 1,000,000 100 % Biotechnology development and technical services Genetron (Wuxi) Business Management Co., Ltd. Wuxi, PRC December 3, 2020 US$ 50,000,000 100 (Note % ) Investment holding VIEs: Genetron Health Beijing, PRC May 7, 2015 RMB 70,958,900 100 % Gene-related detection services Genetron (Wuxi) Biotech Co., Ltd. Wuxi, PRC October 14, 2020 RMB 20,000,000 100 % Gene-related detection services Subsidiaries of VIEs: Shanghai Genetron Bio-Technology Co., Ltd. Shanghai, PRC July 8, 2015 RMB 20,000,000 100 % Investment holding Hangzhou Genetron Bio- Technology Co., Ltd. Hangzhou, PRC October 8, 2015 RMB 10,000,000 100 % Investment holding Chongqing Genetron Bio- Technology Co., Ltd. Chongqing, PRC March 1, 2016 RMB 20,000,000 100 % Investment holding and IVD products sales Beijing Genetron Biotechnology Co., Ltd. Beijing, PRC March 11, 2016 RMB 20,000,000 100 % Investment holding Guangzhou Genetron Biotechnology Co., Ltd. Guangzhou, PRC July 4, 2019 RMB 10,000,000 100 % Investment holding Hangzhou Genetron Medical Laboratory Co., Ltd. Hangzhou, PRC April 24, 2014 RMB 10,000,000 100 % Gene-related detection services Beijing Genetron Medical Laboratory Co., Ltd. Beijing, PRC November 5, 2015 RMB 8,510,000 100 % Gene-related detection services Shanghai Genetron Medical Laboratory Co., Ltd. Shanghai, PRC December 14, 2015 RMB 30,000,000 100 % Gene-related detection services Chongqing Genetron Medical Laboratory Co., Ltd. Chongqing, PRC August 11, 2016 RMB 20,000,000 100 % Gene-related detection services Guangzhou Genetron Medical Laboratory Co., Ltd. Guangzhou, PRC July 8, 2019 RMB 10,000,000 100 % Gene-related detection services Genetron Health Technologies, Inc. Delaware, United State s April 28, 2015 US$ 10,000,000 100 % Research services Note: Legal ownership of 90% with the remaining 10% interests (“other investors”) redeemable upon occurrence of certain events not solely within control of the Group and thereby accounted for as financial liabilities at fair value through profit or loss by the Group. Investing funds of US$1,670,000 from the other investors were received in January 2021. Except for the VIEs and subsidiaries of VIEs which are controlled by the Company through Contractual Arrangements (Note 2.4.1(a)), other subsidiaries (including Genetron TJ and Genetron (Wuxi) Business Management Co., Ltd. which are collectively referred as “PRC Subsidiaries”) are controlled by the Company through direct or indirect equity ownerships. |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Financial Information of the Group's VIEs and Subsidiaries of VIEs | Summarized financial information of the Group’s VIEs and subsidiaries of VIEs for the years ended December 31, 2019 and 2020: As at December 31, 2019 2020 2020 Non-current 138,033 169,152 25,924 Current assets 298,815 335,772 51,459 Total assets 436,848 504,924 77,383 Non-current 265,353 780,519 119,620 Current liabilities 169,522 229,062 35,105 Total liabilities 434,875 1,009,581 154,725 Year ended December 31, 2019 2020 2020 RMB’000 RMB’000 US$’000 Note 2.5(d) Revenue 323,425 424,485 65,055 Loss for the year (406,239 ) (236,102 ) (36,184 ) Net cash used in operating activities (192,068 ) (196,594 ) (30,129 ) Net cash used in from investing activities (96,807 ) (9,223 ) (1,414 ) Net cash generated from financing activities 238,061 200,767 30,769 Net decrease in cash and cash equivalents (50,814 ) (5,050 ) (774 ) |
Summary of Property Plant And Equipment | Depreciation is calculated using the straight-line method to allocate their cost, net of their residual values, over their estimated useful lives or, in the case of leasehold improvements and certain leased plant and equipment, the shorter lease term as follows: Instruments and equipment 3-5 years Office equipment and furniture 3-5 Transporting equipment 4 years Leasehold improvements shorter of lease period or 3-5 years |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure Details Of Expected Credit Loss On Trade Receivables And Contract Assets | Management has assessed that, on the basis of lifetime expected credit loss approach, the expected credit loss % for trade receivables and contract assets with different groupings based on shared credit risk characteristics as follows: Within 2 months Between 2 months to 1 year Between 1 to 2 years Between 2 to 3 years After 3 Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2019 Expected loss rate 1 % 1 % 20 % 60 % 100 % Trade receivables and contract assets, gross 40,834 39,837 5,484 1,300 556 88,011 Loss allowance 392 398 1,107 781 556 3,234 Within 6 months Between 6 months to 1 year Between 1 to 2 years Between 2 to 3 After 3 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2020 Expected loss rate 5 % 11 % 20 % 65 % 100 % Trade receivables and contract assets, gross 118,104 41,047 21,304 1,562 83 182,100 Loss allowance 6,304 4,692 4,300 1,017 83 16,396 |
Disclosure of maturity analysis for non-derivative financial liabilities | The amounts disclosed in the table are the contractual undiscounted cash flows except for financial instruments with preferred rights, which are presented on a fair value basis. Less than 1 year Between 1 and 2 years Between 2 and 5 years Over 5 Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2019 Financial instruments with preferred rights — 2,106,334 — — 2,106,334 Borrowings 21,009 3,293 607 — 24,909 Lease liabilities 16,788 13,308 19,439 — 49,535 Trade payables 49,955 — — — 49,955 Other payables 79,923 — — — 79,923 Amounts due to a related party 34 — — — 34 Total 167,709 2,122,935 20,046 — 2,310,690 As at December 31, 2020 Borrowings 60,689 5,779 — — 66,468 Lease liabilities 19,094 16,833 28,705 3,004 67,636 Trade payables 34,071 — — — 34,071 Other payables 56,206 — — — 56,206 Amounts due to a related party 24 — — — 24 Total 170,084 22,612 28,705 3,004 224,405 |
Disclosure of Financial Assets And Liabilities At Fair Value | Level 1 Level 2 Level 3 Total Notes RMB’000 RMB’000 RMB’000 RMB’000 As at December 31, 2019 Assets Financial assets at fair value through profit or loss - wealth management products 21(ii) — — 122,224 122,224 Liabilities Financial instruments with preferred rights 30 — — 2,106,334 2,106,334 As at December 31, 2020 Assets Financial assets at fair value through profit or loss - other investment 21(i) — — 19,609 19,609 - wealth management products 21(ii) — — 130,002 130,002 - equity security 21(iii) 10,292 — — 10,292 Derivative financial instruments 22 — 196 — 196 Total 10,292 196 149,611 160,099 |
Disclosure of Changes In Fair Value Of Financial Assets Based On Significant Unobservable Inputs | The following table presents the movements in level 3 instruments for the reported periods, except for those of financial instruments with preferred rights which are presented in Note 30. Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Wealth management products Opening balance 252,915 38,597 122,224 Additions 895,140 479,100 1,628,558 Settlements (1,116,604 ) (396,420 ) (1,625,106 ) Investment income credited to profit or loss (Note 9) 7,146 947 4,652 Exchange differences — — (326 ) Closing balance 38,597 122,224 130,002 Other investment Opening balance — — — Additions — — 19,000 Fair value change recognized in profit or loss (Note 9) — — 609 Closing balance — — 19,609 |
Revenue and segment informati_2
Revenue and segment information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Revenue and Segment Information | Diagnosis and monitoring – provision of LDT services Diagnosis and monitoring – sale of IVD products Development services Total RMB’000 RMB’000 RMB’000 RMB’000 Year ended December 31, 2018 Revenue 168,579 4,714 51,883 225,176 Segment profit/(loss) 93,545 1,491 (2,310 ) 92,726 Year ended December 31, 2019 Revenue 234,569 34,915 53,941 323,425 Segment profit/(loss) 141,542 11,966 (8,518 ) 144,990 Year ended December 31, 2020 Revenue 291,702 93,982 38,801 424,485 Segment profit 198,170 60,266 1,781 260,217 |
Summary of Reconciliation of Segment Profits to Loss for the Year | Reconciliation of segment profits to loss for the year: Year ended December 31, 2018 2019 2020 Total segment profits 92,726 144,990 260,217 Unallocated expenses - operating expenses (325,702 ) (451,860 ) (528,593 ) - finance income/(costs) – net 1,615 (9,221 ) 22,703 - losses from financial instruments with preferred rights (233,632 ) (359,943 ) (2,823,370 ) Loss for the year (464,993 ) (676,034 ) (3,069,043 ) |
Summary of Timing of Revenue Recognition | Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Timing of revenue recognition - over time 149,906 204,406 265,137 - at a point in time 75,270 119,019 159,348 225,176 323,425 424,485 |
Summary of Assets and Liabilities Related to Contracts with Customers | The Group has recognized the following assets and liabilities related to contracts with customers: As at December 31, 2019 RMB’000 2020 RMB’000 Contract assets 1,131 1,181 Less: provision for impairment (111 ) (69 ) 1,020 1,112 Contract liabilities 18,189 8,417 Revenue recognized that was included in the contract liabilities balance at the beginning of the year 8,469 16,026 |
Expenses by nature (Tables)
Expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Expenses by Nature | Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Cost of inventories and consumables used (Note 17) 110,970 144,644 148,988 Employee benefit expenses (Note 8) 176,507 236,476 268,986 Depreciation on property, plant and equipment (Note 13) 26,752 30,458 33,466 Depreciation on right-of-use — 14,784 18,277 Amortization on intangible assets (Note 15) 1,106 1,344 1,452 Provision for impairment of trade and other receivables and contract assets 658 2,733 14,843 Promotion expenses 92,811 130,599 131,209 Rental, utilities and office expenses 17,670 9,663 16,347 Listing expenses 9,392 27,064 986 |
Employee benefit expenses (Tabl
Employee benefit expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Classes of employee benefits expense [abstract] | |
Summary of Employee Benefit Expenses Details | Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Wages, salaries and bonuses 111,794 153,815 195,462 Welfare expenses 7,500 8,866 8,637 Housing funds 7,996 11,465 14,799 Contributions to pension plans (Note) 19,573 26,446 20,137 Share-based compensation expenses (Note 27(d)) 29,644 35,884 29,951 176,507 236,476 268,986 |
Summary of Employee Benefit Expenses | Employee benefit expenses were charged in the following categories in the consolidated statements of loss: Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Cost of revenue 21,737 27,375 27,108 Selling expenses 75,303 101,378 101,379 Administrative expenses 48,529 60,084 64,610 Research and development expenses 30,938 47,639 75,889 176,507 236,476 268,986 |
Other income and gains - net (T
Other income and gains - net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Other Income and Gains Net | Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Investment income from wealth management products 7,146 947 4,652 Fair value (loss)/gain on: - equity security — — (3,153 ) - other investment — — 609 - derivative financial instruments — — 196 Gain on: - redemption of derivative financial instruments — — 1,550 - disposal of property, plant and equipment — 1,505 — Government grants (Note) 10,695 11,695 3,869 Amortization on deferred income from ADS depository (Note 29(b)) — — 2,405 Others (767 ) (850 ) (1,602 ) 17,074 13,297 8,526 Note: Government grants are subsidies received for compensating the Group’s research and development expenses incurred for certain projects and other operating activities. |
Finance income_(costs) - net (T
Finance income/(costs) - net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Detailed information of Finance income/(costs) | Year ended December 31, 2018 RMB’000 2019 RMB’000 2020 RMB’000 Finance income Interests from: - bank deposits 798 198 433 - loans to a related party 749 243 — Net exchange gains 68 2,042 27,897 1,615 2,483 28,330 Finance costs Issuance costs of financial instruments with preferred rights — (6,303 ) — Interests on: - lease liabilities — (2,076 ) (2,069 ) - borrowings — (2,133 ) (3,298 ) - loans from a related party — (1,192 ) — Oth ers — — (260 ) — (11,704 ) (5,627 ) Finance income/(costs) – net 1,615 (9,221 ) 22,703 |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of reconciliation between the Group's actual tax charge and statutory income tax rate | The reconciliation between the Group’s actual tax charge and the amount that is calculated based on the statutory income tax rate of 25% in the PRC is as follows: Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loss before income tax (464,993 ) (676,034 ) (3,069,043 ) Tax credits calculated at statutory tax rate of 25% (116,248 ) (169,009 ) (767,261 ) Effects of preferential tax rates (Note (i)) 44,728 37,139 18,900 Expenses not deductible for income tax purpose (Note (ii)) 44,926 101,536 722,458 Super deduction of research and development expenses (4,279 ) (6,273 ) (8,390 ) Tax losses and deductible temporary differences for which no deferred income tax assets were recognized 30,873 36,607 34,293 Income tax expense — — — Note: (i) Certain Group entities in PRC have been eligible as High/New Technology Enterprises (“HNTEs”) with preferential tax rate of 15% as set out in PRC EIT Law. (ii) These mainly include fair value loss of financial instruments with preferred rights. |
Loss per share (Tables)
Loss per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of basic and diluted loss per share reflecting the effect of the issuance of ordinary shares by the company | Year ended December 31, 2018 2019 2020 Loss attributable to owners of the Company (RMB’000) (464,993 ) (676,034 ) (3,069,043 ) Weighted average number of ordinary shares outstanding (in thousands) (Note) 113,757 124,895 301,380 Basic loss per share (RMB) (4.09 ) (5.41 ) (10.18 ) Basic loss per ADS (RMB) (50.92 ) |
Summary of movement of number of ordinary shares outstanding (excluding treasury shares) | Movement of number of ordinary shares outstanding (excluding treasury shares) for the reported periods are shown as follows. Year ended December 31, 2018 2019 2020 in thousands in thousands in thousands At beginning of the year 107,768 119,812 123,584 Ordinary shares - repurchased — (8,272 ) — - issued upon IPO — — 80,000 - converted from Preferred Shares upon IPO — — 220,332 *Restricted shares vested 12,044 12,044 17,894 **Awards vested — — 14,897 At end of the year 119,812 123,584 456,707 * considered in the calculation when they vested on monthly basis ** represent awards with nominal subscription prices which have been vested but not yet exercised at end of the year |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of property plant and equipment | Instruments and equipment Office equipment and furniture Transporting equipment Leasehold improvements Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at January 1, 2018 Cost 81,297 2,622 — 16,246 100,165 Accumulated depreciation (28,677 ) (622 ) — (5,563 ) (34,862 ) Net book value 52,620 2,000 — 10,683 65,303 Year ended December 31, 2018 Opening net book value 52,620 2,000 — 10,683 65,303 Additions 40,610 345 445 2,625 44,025 Depreciation (21,010 ) (521 ) (53 ) (5,168 ) (26,752 ) Exchange differences (25 ) — — — (25 ) Closing net book value 72,195 1,824 392 8,140 82,551 As at December 31, 2018 Cost 121,895 2,967 445 18,871 144,178 Accumulated depreciation (49,700 ) (1,143 ) (53 ) (10,731 ) (61,627 ) Net book value 72,195 1,824 392 8,140 82,551 Year ended December 31, 2019 Opening net book value 72,195 1,824 392 8,140 82,551 Additions 27,766 986 24 2,210 30,986 Disposals (173 ) — — — (173 ) Depreciation (25,332 ) (611 ) (113 ) (4,402 ) (30,458 ) Exchange differences 107 — — — 107 Closing net book value 74,563 2,199 303 5,948 83,013 As at December 31, 2019 Cost 147,658 3,953 469 21,081 173,161 Accumulated depreciation (73,095 ) (1,754 ) (166 ) (15,133 ) (90,148 ) Net book value 74,563 2,199 303 5,948 83,013 Year ended December 31, 2020 Opening net book value 74,563 2,199 303 5,948 83,013 Additions 19,573 908 — 6,896 27,377 Depreciation (28,038 ) (784 ) (112 ) (4,532 ) (33,466 ) Exchange differences (33 ) — — — (33 ) Closing net book value 66,065 2,323 191 8,312 76,891 As at December 31, 2020 Cost 167,085 4,861 469 27,977 200,392 Accumulated depreciation (101,020 ) (2,538 ) (278 ) (19,665 ) (123,501 ) Net book value 66,065 2,323 191 8,312 76,891 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of right of use assets | Properties Office equipment Total RMB’000 RMB’000 RMB’000 As at January 1, 2019 Cost 42,561 50 42,611 Year ended December 31, 2019 Opening net book amount 42,561 50 42,611 Additions 15,355 — 15,355 Depreciation (14,766 ) (18 ) (14,784 ) Closing net book amount 43,150 32 43,182 As at December 31, 2019 Cost 57,916 50 57,966 Accumulated depreciation (14,766 ) (18 ) (14,784 ) Net book value 43,150 32 43,182 Year ended December 31, 2020 Opening net book amount 43,150 32 43,182 Additions 34,801 — 34,801 Depreciation (18,259 ) (18 ) (18,277 ) Closing net book amount 59,692 14 59,706 As at December 31, 2020 Cost 92,717 50 92,767 Accumulated depreciation (33,025 ) (36 ) (33,061 ) Net book value 59,692 14 59,706 |
Disclosure Of Quantitative Information About Lease Liabilities | As at December 31, 2019 2020 RMB’000 RMB’000 Non-current 29,124 43,016 Current 15,363 16,585 44,487 59,601 |
Disclosure Of Detailed Information About Breakdown Of Lease Expense Explanatory | Year ended December 31, 2019 2020 RMB’000 RMB’000 Interest expense (included in finance costs) (Note 10) 2,076 2,069 Expense relating to short-term leases (included in cost of revenue, selling expenses, administrative expenses and research and development expenses) 621 530 Expense relating to leases of low-value 403 521 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Intangible Assets | Software Patented Others Total RMB’000 RMB’000 RMB’000 RMB’000 As at January 1, 2018 Cost 3,563 230 2,030 5,823 Accumulated amortization and impairment (696 ) (230 ) (1,015 ) (1,941 ) Net book value 2,867 — 1,015 3,882 Year ended December 31, 2018 Opening net book value 2,867 — 1,015 3,882 Additions 608 — — 608 Amortization (599 ) — (507 ) (1,106 ) Exchange differences 11 — — 11 Closing net book value 2,887 — 508 3,395 As at December 31, 2018 Cost 4,200 230 2,030 6,460 Accumulated amortization and impairment (1,313 ) (230 ) (1,522 ) (3,065 ) Net book value 2,887 — 508 3,395 Year ended December 31, 2019 Opening net book value 2,887 — 508 3,395 Additions 3,376 — — 3,376 Amortization (836 ) — (508 ) (1,344 ) Exchange differences 55 — — 55 Closing net book value 5,482 — — 5,482 As at December 31, 2019 Cost 7,679 230 2,030 9,939 Accumulated amortization and impairment (2,197 ) (230 ) (2,030 ) (4,457 ) Net book value 5,482 — — 5,482 Year ended December 31, 2020 Opening net book value 5,482 — — 5,482 Additions 8,253 — — 8,253 Amortization (1,452 ) — — (1,452 ) Exchange differences (18 ) — — (18 ) Closing net book value 12,265 — — 12,265 As at December 31, 2020 Cost 15,798 230 2,030 18,058 Accumulated amortization and impairment (3,533 ) (230 ) (2,030 ) (5,793 ) Net book value 12,265 — — 12,265 |
Financial instruments by cate_2
Financial instruments by category (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of financial instruments | Financial assets at FVPL Financial assets at amortized cost Total RMB’000 RMB’000 RMB’000 Financial assets As at December 31, 2019 Trade receivables — 83,757 83,757 Other receivables — 4,273 4,273 Amounts due from related parties — 1,064 1,064 Financial assets at fair value through profit or loss 122,224 — 122,224 Cash and cash equivalents — 139,954 139,954 122,224 229,048 351,272 As at December 31, 2020 Trade receivables — 164,592 164,592 Other receivables — 11,968 11,968 Amounts due from related parties — 214 214 Financial assets at fair value through profit or loss 159,903 — 159,903 Derivative financial instruments 196 — 196 Cash and cash equivalents — 1,375,766 1,375,766 160,099 1,552,540 1,712,639 Financial liabilities As at December 31, 2019 Financial instruments with preferred rights 2,106,334 — 2,106,334 Borrowings — 23,157 23,157 Lease liabilities — 44,487 44,487 Trade payables — 49,955 49,955 Other payables — 79,923 79,923 Amounts due to a related party — 34 34 2,106,334 197,556 2,303,890 As at December 31, 2020 Borrowings — 64,076 64,076 Lease liabilities — 59,601 59,601 Trade payables — 34,071 34,071 Other payables — 56,206 56,206 Amounts due to a related party — 24 24 — 213,978 213,978 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Detailed Information About Inventories Explanatory | As at December 31, 2019 2020 RMB’000 RMB’000 Raw materials 14,824 14,078 Work-in-progress 1,325 5,265 Finished goods 1,747 5,628 17,896 24,971 |
Trade receivables (Tables)
Trade receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Detailed Information About Trade Receivables | As at December 31, 2019 2020 RMB’000 RMB’000 Trade receivables 87,236 182,955 Less: provision for impairment (3,479 ) (18,363 ) 83,757 164,592 |
Other receivables and prepaym_2
Other receivables and prepayments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Other receivables and prepayments | As at December 31, 2019 2020 RMB’000 RMB’000 Deposits 4,273 7,603 Prepayment for goods and service 10,694 27,568 Prepayment for rental expenses 1,216 694 Others 3,820 7,032 20,003 42,897 Less: provision for impairment (477 ) (477 ) 19,526 42,420 |
Financial assets at fair valu_2
Financial assets at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Financial assets at fair value through profit or loss | As at December 31, 2019 2020 RMB’000 RMB’000 Non-current Other investment (Note (i)) — 19,609 Current Wealth management products (Note (ii)) 122,224 130,002 Equity security (Note (iii)) — 10,292 122,224 140,294 Note: (i) In 2020 the Group invested RMB19 million in a biotechnology company and thereby obtained 30% of its equity interests with certain preferred rights in redemption, liquidation and anti- dilution. As such it is deemed as a debt instrument and classified as financial asset at FVPL with fair value measured based on discounted cash flow method. (ii) Wealth management products held by the Group with various maturities bear floating interest rates at ranges of 2.78% and 2.30%-2.40% (iii) This is investment of an equity security listed in Hong Kong held for trading with purchase cost of approximately RMB14 million. Its fair value at end of reporting period is determined by closing price quoted in an active stock market. |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of cash and cash equivalents | As at December 31, 2019 2020 RMB’000 RMB’000 Cash at bank -RMB deposits 9,339 20,433 -US$ deposits 130,545 1,355,276 -HK$ deposits 70 57 Cash on hand — — 139,954 1,375,766 |
Share capital and share premi_2
Share capital and share premium (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of classes of share capital [abstract] | |
Summary of Share Capital Authorized | Note Number of ordinary shares Nominal value of ordinary shares Number of Nominal value US$’000 US$’000 Authorized: Upon incorporation (i) 500,000,000 50 — — As at December 31, 2018 500,000,000 50 — — As at January 1, 2019 500,000,000 50 — — Share sub-division (ii) 2,000,000,000 — — — Re-designation (iii) (171,083,000 ) (3 ) 171,083,000 3 Shares repurchase and issuance - repurchase (v) (8,272,000 ) — (6,933,000 ) — - issuance (v) — — 15,205,000 — Re-designation (vi) (34,147,600 ) (1 ) 34,147,600 1 As at December 31, 2019 2,286,497,400 46 213,502,600 4 As at January 1, 2020 2,286,497,400 46 213,502,600 4 Re-designation D-2 (vii) (6,829,500 ) — 6,829,500 — Conversion of preferred shares into ordinary shares (viii) 220,332,100 4 (220,332,100 ) (4 ) As at December 31, 2020 2,500,000,000 50 — — |
Summary of Share Capital Issued | Note Number of Nominal value of Share US$’000 RMB’000 RMB’000 Issued: Upon incorporation (i) 3 — — — As at December 31, 2018 3 — — — As at January 1, 2019 3 — — — Share repurchase (ii) (2 ) — — — Share sub-division (ii) 4 — — — Issuance of ordinary shares (iv) 149,749,995 3 18 — Repurchase of ordinary shares (v) (8,272,000 ) — (1 ) — As at December 31, 2019 141,478,000 3 17 — As at January 1, 2020 141,478,000 3 17 — Issuance of ordinary shares upon IPO (viii) 80,000,000 2 11 1,657,782 Conversion of preferred shares into ordinary shares (viii) 220,332,100 4 31 4,999,780 As at December 31, 2020 441,810,100 9 59 6,657,562 Note: (i) On April 9, 2018, the Company was incorporated in the Cayman Islands with an authorized share capital of US$50,000 divided into 500,000,000 ordinary shares with a par value of US$0.0001 each and 3 ordinary shares were issued. (ii) On July 2, 2019, the Company repurchased 2 ordinary shares and conducted a 1:5 share sub- division to amend its authorized share capital to 2,500,000,000 ordinary shares with a par value of US$0.00002 each in accordance with the resolution of the shareholders of the Company. (iii) On July 2, 2019, the Company issued 171,083,000 preferred shares (equivalent to then 34,216,600 preferred shares of Genetron Health with each share having been converted to five shares of the Company) at par value of US$0.00002 per share. (iv) On July 2, 2019, the Company further issued 149,749,995 ordinary shares to each of the then equity holders of Genetron Health with substantially the same rights and shareholding percentages in Genetron Health upon the Reorganization. Together with the 5 ordinary shares of the Company resulted from (i) and (ii) above, this totalled 149,750,000 ordinary shares of the Company, with each share of Genetron Health having been converted to five shares of the Company. (v) In November 2019 the Group repurchased 8,272,000 ordinary shares and 6,933,000 preferred shares from certain then shareholders including the Founders for an aggregate consideration of US$15 million, and issued 15,205,000 Series C-2 (“C-2 Consequently the total nominal value of ordinary shares repurchased of US$165 (equivalent to approximately RMB1,000) was deducted from share capital, and the excess of the relevant portion of consideration paid over the total nominal value of repurchased ordinary shares of US$8,160,000 (equivalent to approximately RMB57,438,000) was debited to (a) the balance standing to then capital reserve of RMB35,174,000 and (b) other reserve of RMB22,264,000. (vi) In November 2019 the Company further issued 34,147,600 Series D preferred shares for an aggregate consideration of US$50 million to certain investors including the C-2 (vii) In February 2020 the Company further issued 6,829,500 Series D-2 (viii) On June 19, 2020, 16,000,000 ADSs (representing 80,000,000 ordinary shares) were offered by the Company upon their listing on NASDAQ. Simultaneously all the 220,332,100 then preferred shares of the Company were converted into ordinary shares. |
Share-based payment (Tables)
Share-based payment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Movements of Employee Share Options During The Reported Period | Set out below are movements of awards during the reported periods. Year ended December 31, 2018 2019 2020 Exercise price Number of awards Exercise price Number of awards Exercise price Number of awards Outstanding at beginning of the year RMB 1.00 1,624,456 RMB 1.00 4,578,933 US$ 0.03 23,481,970 Granted during the year RMB 1.00 3,205,000 RMB 1.00 713,840 US$ 0.88 3,035,000 Forfeited before Reorganization (Note (i)) RMB 1.00 (250,523 ) RMB 1.00 (47,507 ) — — Share sub-division — — US$ 0.03 18,321,704 — — Forfeited after Reorganization (Note (i)) — — US$ 0.03 (85,000 ) US$ 0.03 (300,702 ) Outstanding at end of the year RMB 1.00 4,578,933 US$ 0.03 23,481,970 US$ 0.13 26,216,268 Exercisable at end of the year (Note (ii)) — — — — US$ 0.03 14,897,089 Note: (i) The shares are forfeited if the employment terminates or the performance condition is not met. (ii) Awards are only exercisable upon completion of IPO or after other vesting periods. (iii) Exercise prices are shown as weighted average as applicable. |
Summary of Binominal Option-Pricing Model To Determine The Fair Value of Options At Each of The Grant Dates | Based on the fair value of underlying ordinary shares, the Group used Binominal option-pricing model to determine the fair value of awards as at each of the grant dates. Key assumptions for the awards granted are set as below: Year of grant 2017 2018 Before After 2020 Fair values at grant date - (RMB per share of Genetron Health) (Note) 10.83 28.19 36.32 — — - (US$ per share of the Company) (Note) — — — 1.25 1.76 - 2.38 Exercise prices - (RMB per share of Genetron Health) (Note) 1.00 1.00 1.00 — — - (US$ per share of the Company) (Note) — — — 0.03 0.03 - 0.99 Risk-free interest rates 2.51 % 2.94 % 2.09 % 1.69 % 0.64% - 0.67 % Dividend yield nil nil nil nil nil Expected volatilities 55.08 % 53.48 % 50.20 % 48.80 % 54.90% - 55.10 % Expected term 10 years 10 years 10 years 10 years 10 years Note: Each share of Genetron Health was converted to five shares of the Company upon the Reorganization in July 2019 when the exercise price of all then existing awards was modified from RMB1.00 per share of Genetron Health to US$0.03 per share of the Company without impact on their values. |
Summary of The Movement of The Restricted Shares | The movement of the restricted shares for the years ended December 31, 2018, 2019 and 2020 are summarized as below: Number of restricted shares Outstanding at January 1, 2018 6,222 Vested and released (2,409 ) Outstanding at December 31, 2018 3,813 Outstanding at January 1, 2019 3,813 Vested and released before Reorganization (1,204 ) Share sub-division 10,439 Vested and released after Reorganization (6,024 ) Outstanding at December 31, 2019 7,024 Outstanding at January 1, 2020 7,024 Vested and released (7,024 ) Outstanding at December 31, 2020 — |
Summary of Share-based Compensation Expenses | (d) Share-based compensation expenses were charged in the following categories in the consolidated statements of loss: Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Cost of revenue 234 446 300 Selling expenses 1,186 2,720 3,906 Administrative expenses 22,259 25,940 15,013 Research and development expenses 5,965 6,778 10,732 29,644 35,884 29,951 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Borrowings | As at December 31, 2019 2020 RMB’000 RMB’000 Non-current Other borrowings (Note (i)) 3,643 5,493 Current Bank borrowings (Note (ii)) 5,000 50,000 Current portion of other borrowings (Note (i)) 14,514 8,583 19,514 58,583 Total 23,157 64,076 |
Summary of Details Information Sale and Lease Back Agreements with Independent Parties | (i) The Group entered into sale and leaseback agreements with independent parties, to which the Group transferred the ownership of certain instruments and thereby obtained cash proceeds (“consideration”) with the following details: Date Term Consideration Guarantee/pledge RMB’000 March 2019 2 year 25,000 (a) June 2019 3 year 6,960 (b) July 2020 2 year 12,800 (c) (a) guarantee provided by a director of the Group and pledge of all equity interest of Beijing Genetron Medical Laboratory Co., Ltd., a subsidiary of the Company (b) corporate guarantee provided by Genetron Health (c) guarantee provided by a director of the Group |
Summary of Information about Group Obtained Loan Facilities | (ii) The Group obtained bank facilities by which loan amounts were drawn with following details: Date of obtaining facility Facility Facility Loan amount drawn Loan period Guarantee /pledge Interest rate RMB’000 RMB’000 June 2019 2 year 5,000 5,000 June 2019 – June 2020 (a) 5.0 % March 2020 1 year 10,000 10,000 March 2020 – March 2021 (b) 3.7 % March 2020 1 year 30,000 30,000 March 2020 – March 2021 (c) 2.0 % May 2020 2 year 25,000 10,000 October 2020 – October 2021 (d) 3.5 % (a) guaranteed by an independent party (the “guarantor”), to which each of Mr. Sizhen Wang (a director of the Group) and Genetron Health have provided counter-guarantees, in addition to a facility fee of RMB110,000 paid by the Group. To provide the counter-guarantee Genetron Health has to pledge not less than RMB10 million of certain of its receivables to the guarantor. (b) guaranteed by an independent party, to which Mr. Sizhen Wang has provided counter-guarantee, in addition to a facility fee of RMB130,000 paid by the Group. (c) guaranteed by Mr. Sizhen Wang. (d) guaranteed by an independent party (the “guarantor”), to which each of Mr. Sizhen Wang, Genetron Health and certain of its subsidiaries have provided counter-guarantees, in addition to a facility fee of RMB138,000 paid by the Group. To provide the counter-guarantees Genetron Health and certain of its subsidiaries have to pledge a patented technology and not less than RMB20 million of certain of Genetron Health’s receivables to the guarantor (net book balance pledged as of December 31, 2020 approximated RMB29 million). |
Other payables and accruals (Ta
Other payables and accruals (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Other Payables and Accruals | As at December 31, 2019 2020 RMB’000 RMB’000 Payroll and welfare payables 19,205 30,625 Accrued professional service fees and listing expenses 27,375 10,437 Accrued taxes other than income tax 4,633 1,668 Amount due to an investor (Note (a)) 15,000 — Payable to investors for shares repurchase 3,539 3,283 Leaver provisions related to restricted shares (Note 27(b), (c)) 3,578 — Deferred income from ADS depository (Note (b)) — 19,766 Others 36,353 45,385 109,683 111,164 |
Financial instruments with pr_2
Financial instruments with preferred rights (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial instruments [Abstract] | |
Summary of Financial Instruments with Preferred Rights Reorganization | The Group had completed a series of financing by issuing shares with preferred rights including conversion feature, liquidation preferences and redemption rights (“Preferred Shares”), of which the preferred shares issued by Genetron Health before July 2019 were converted to shares of the Company on one-for-five Date of subscription Round Note Number of Preferred Shares Subscription/ (repurchase) (in thousands) RMB’000 July 17, 2015 Series A-1 39,200 70,000 August 6, 2015 Series A-1 8,400 15,000 September 24, 2015 Series A-2 19,760 50,000 September 18, 2016 Series B 25,358 100,000 November 2, 2016 Series B 18,005 71,000 October 10, 2017 Series C 51,525 350,000 December 29, 2017 Series C 8,835 60,000 November 18, 2019 Series A-1, A-2, B 24(v) (6,933 ) (48,105 ) November 19, 2019 Series C-2 24(v) 15,205 105,325 November 19, 2019 Series D 24(vi) 34,148 351,243 February 19, 2020 Series D-2 24(vii) 6,829 70,026 220,332 |
Summary of Movements of Financial Instruments with Preferred Rights | Movements of financial instruments with preferred rights during the years ended December 31, 2018, 2019 and 2020 are: RMB’000 Year ended December 31, 2018 At January 1, 2018 1,018,019 Issuance of Series C preferred shares 60,000 Changes in fair value recognized in profit or loss 233,632 Changes in fair value due to own credit risk recognized in OCI 9,061 At December 31, 2018 1,320,712 Year ended December 31, 2019 At January 1, 2019 1,320,712 Repurchase of Series A-1, A-2, (48,105 ) Issuance of Series C-2 105,325 Issuance of Series D preferred shares 351,243 Changes in fair value recognized in profit or loss 333,401 Changes in fair value due to own credit risk recognized in OCI 17,299 Other loss 26,542 Exchange differences (83 ) At December 31, 2019 2,106,334 Year ended December 31, 2020 At January 1, 2020 2,106,334 Issuance of Series D-2 70,026 Changes in fair value recognized in profit or loss 2,823,370 Changes in fair value due to own credit risk recognized in OCI 72 Conversion into ordinary shares (4,999,811 ) Others 9 At December 31, 2020 — |
Cash flow information (Tables)
Cash flow information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Reconciliation from Loss before Income Tax to Cash Used In Operations | (a) Reconciliation from loss before income tax to cash used in operations Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loss before income tax (464,993 ) (676,034 ) (3,069,043 ) Adjustments for: Depreciation on - property, plant and equipment 26,752 30,458 33,466 - right-of-use — 14,784 18,277 Amortization on intangible assets 1,106 1,344 1,452 Provision for impairment of trade and other receivables and contract assets 658 2,733 14,843 Investment income from wealth management products (7,146 ) (947 ) (4,652 ) Fair value loss – net on other financial assets at FVPL — — 2,348 Gain on - redemption of derivative financial instruments — — (1,550 ) - disposal of property, plant and equipment — (1,505 ) — Amortization on deferred income of ADS depository — — (2,405 ) Finance (income)/costs - net (68 ) 9,419 (22,270 ) Share-based compensation expenses 29,644 35,884 29,951 Losses related to financial instruments with preferred rights 233,632 359,943 2,823,370 Others — — (110 ) Changes in working capital: - Inventories (8,846 ) 3,719 (7,075 ) - Contract assets 444 1,234 (50 ) - Other current assets (11,689 ) (6,687 ) 7,211 - Trade receivables (27,410 ) (48,151 ) (95,719 ) - Other receivables and prepayments (4,468 ) (33 ) (22,894 ) - Amounts due from related parties (3,674 ) (634 ) 850 - Trade payables 2,938 26,633 (9,073 ) - Contract liabilities 5,468 9,322 (9,772 ) - Other payables and accruals 26,636 41,561 11,948 Cash used in operations (201,016 ) (196,957 ) (300,897 ) |
Summary of Reconciliation of Liabilities Arising From Financing Activities | (b) Reconciliation of liabilities arising from financing activities Financial rights (Note 30) Amounts due to Borrowings Loans from a Lease Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At January 1, 2018 1,018,019 — — — — 1,018,019 Cash received 60,000 — — — — 60,000 Non-cash 242,693 — — — — 242,693 At December 31, 2018 1,320,712 — — — — 1,320,712 At January 1, 2019 1,320,712 — — — 41,418 1,362,130 Cash received 456,568 15,000 32,955 35,000 — 539,523 Cash repaid (43,279 ) — (9,798 ) (35,000 ) (14,362 ) (102,439 ) Non-cash 372,333 — — — 17,431 389,764 At December 31, 2019 2,106,334 15,000 23,157 — 44,487 2,188,978 At January 1, 2020 2,106,334 15,000 23,157 — 44,487 2,188,978 Cash received 70,026 299,051 61,213 — — 430,290 Cash repaid — (314,388 ) (20,703 ) — (19,577 ) (354,668 ) Non-cash (2,176,360 ) 337 409 — 34,691 (2,140,923 ) At December 31, 2020 — — 64,076 — 59,601 123,677 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Capital Commitments | (a) Capital commitments As at December 31, 2019 2020 RMB’000 RMB’000 Equipment and intangible assets - Contracted but not provided for 1,790 14,578 |
Summary of Future Minimum Lease Payables under Non-Cancellable Leases | The future minimum lease payables under such non-cancellable year-end As at December 31, 2019 2020 RMB’000 RMB’000 No later than 1 year 615 300 Later than 1 year but no later than 3 years 15 — 630 300 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of Provision of Services | (i) Provision of services Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Edigene (Beijing) Inc. 97 1,071 623 Vcanbio Gene Technology Corp., Ltd. 1,236 — — TCRCure Biopharma (Beijing) Ltd. — 588 — TCRCure Biopharma (Chongqing) Ltd. — — 898 1,333 1,659 1,521 |
Summary of Loans to/from Related Parties | (ii) Loans to/from related parties Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loans to Mr. Sizhen Wang: - Loans advanced 43,550 5,000 — - Loans repaid (41,000 ) (10,525 ) — - Interest charged 749 243 — - Interest paid — (992 ) — Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Loans from Juventas Cell Therapy Ltd.: - Loans advanced — 35,000 — - Loans repaid — (35,000 ) — - Interest charged — 1,192 — - Interest paid — (1,192 ) — |
Summary of Balances with Related Parties | (i) Trade receivables As at December 31, 2019 2020 RMB’000 RMB’000 Edigene (Beijing) Inc. 456 214 TCRCure Biopharma (Beijing) Ltd. 608 — 1,064 214 (ii) Other payables As at December 31, 2019 2020 RMB’000 RMB’000 FHP Holdings Ltd. 34 24 |
Summary of Compensations Paid or Payable to Key Management for Employee Services | Key management includes directors, supervisors and senior management personnel. The compensations paid or payable to key management for employee services are shown below: Year ended December 31, 2018 2019 2020 RMB’000 RMB’000 RMB’000 Salaries and other short-term employee benefits 5,250 5,034 8,112 Contributions to pension plans 50 125 107 Share-based compensation expenses 19,952 17,454 15,679 25,252 22,613 23,898 |
Restricted net assets and par_2
Restricted net assets and parent company only condensed financial information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Schedule of Condensed Balance Sheets | (a) Balance sheets As at December 31, 2019 2020 2020 RMB’000 RMB’000 US$’000 Note 2.5(d) ASSETS Non-current assets Interests in subsidiaries 1,839,044 2,859,204 438,192 Prepayments 4,172 — — Total non-current 1,843,216 2,859,204 438,192 Current assets Other receivables and prepayments 645 12,116 1,857 Amounts due from related parties 4,674 6,982 1,070 Financial assets at fair value through profit or loss — 31,953 4,897 Derivative financial instruments — 196 30 Cash and cash equivalents 122,104 941,541 144,297 Total current assets 127,423 992,788 152,151 Total assets 1,970,639 3,851,992 590,343 LIABILITIES Non-current Financial instruments with preferred rights 2,106,334 — — Total non-current 2,106,334 — — Current liabilities Other payables and accruals 26,492 27,838 4,266 Amounts due to related parties 564 557 86 Total current liabilities 27,056 28,395 4,352 Total liabilities 2,133,390 28,395 4,352 Net (liabilities)/assets (162,751 ) 3,823,597 585,991 SHAREHOLDERS’ (DEFICIT)/EQUITY Share capital 17 59 9 Share premium — 6,657,562 1,020,316 Treasury shares (3,578 ) — — Other reserves 100,723 279,479 42,831 Accumulated losses (259,913 ) (3,113,503 ) (477,165 ) Total shareholders’ (deficit)/equity (162,751 ) 3,823,597 585,991 |
Schedule of Condensed Income Statements | (b) Statements of loss Year ended December 31, 2018 2019 2020 2020 RMB’000 RMB’000 RMB’000 US$’000 Note 2.5(d) Administrative expenses — (18,199 ) (19,480 ) (2,986 ) Other income and gains - net — — 833 128 Finance costs - net — (6,303 ) (1,230 ) (189 ) Financial instruments with preferred rights - loss on fair value changes — (208,869 ) (2,823,370 ) (432,700 ) - other loss — (26,542 ) — — Loss before income tax — (259,913 ) (2,843,247 ) (435,747 ) Income tax expense — — — — Loss for the year — (259,913 ) (2,843,247 ) (435,747 ) |
Schedule of Condensed Cash Flow Statements | (c) Statements of cash flows Year ended December 31, 2018 2019 2020 2020 RMB’000 RMB’000 RMB’000 US$’000 Note 2.5(d) Cash flows from operating activities Cash used in operations — (10,805 ) (36,241 ) (5,554 ) Net cash used in operating activities — (10,805 ) (36,241 ) (5,554 ) Cash flows from investing activities Investment in subsidiaries — (231,062 ) (1,006,010 ) (154,178 ) Purchase of wealth management products — — (21,858 ) (3,350 ) Purchase of equity security — — (13,721 ) (2,103 ) Purchase of derivative financial instruments — — (68,078 ) (10,433 ) Redemption of derivative financial instruments — — 69,628 10,671 Others — — (294 ) (45 ) Net cash used in investing activities — (231,062 ) (1,040,333 ) (159,438 ) Cash flows from financing activities Proceeds from issuance of ordinary shares — 18 1,676,816 256,983 Proceeds from ADS depository — — 23,069 3,535 Proceeds from issuance of financial instruments with preferred rights — 456,568 70,026 10,732 Issuance costs of financial instruments with preferred rights — (6,303 ) — — Repurchase of ordinary shares — (54,479 ) (4,102 ) (629 ) Repurchase of financial instruments with preferred rights — (43,279 ) — — Proceeds from an investor upon reorganization — 15,000 299,051 45,832 Payments in relation to listing expenses — (1,081 ) (21,691 ) (3,324 ) Net cash generated from financing activities — 366,444 2,043,169 313,129 Net increase in cash and cash equivalents — 124,577 966,595 148,137 Cash and cash equivalents at beginning of year — — 122,104 18,713 Exchange differences of cash and cash equivalents — (2,473 ) (147,158 ) (22,553 ) Cash and cash equivalents at end of year — 122,104 941,541 144,297 |
General information, reorgani_3
General information, reorganization and basis of presentation - Disclosure of Interest in Subsidiaries and Variable Interest Entities (Detail) - 12 months ended Dec. 31, 2020 | CNY (¥) | USD ($) | HKD ($) |
Genetron Health | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Beijing, PRC May 7, 2015 | ||
Registered capital | ¥ 70,958,900 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Genetron (Wuxi) Biotech Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Wuxi, PRC October 14, 2020 | ||
Registered capital | ¥ 20,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Shanghai Genetron Bio- Technology Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Shanghai, PRC July 8, 2015 | ||
Registered capital | ¥ 20,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding | ||
Hangzhou Genetron Bio- Technology Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Hangzhou, PRC October 8, 2015 | ||
Registered capital | ¥ 10,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding | ||
Chongqing Genetron Bio- Technology Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Chongqing, PRC March 1, 2016 | ||
Registered capital | ¥ 20,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding and IVD products sales | ||
Beijing Genetron Biotechnology Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Beijing, PRC March 11, 2016 | ||
Registered capital | ¥ 20,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding | ||
Guangzhou Genetron Biotechnology Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Guangzhou, PRC July 4, 2019 | ||
Registered capital | ¥ 10,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding | ||
Hangzhou Genetron Medical Laboratory Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Hangzhou, PRC April 24, 2014 | ||
Registered capital | ¥ 10,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Beijing Genetron Medical Laboratory Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Beijing, PRC November 5, 2015 | ||
Registered capital | ¥ 8,510,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Shanghai Genetron Medical Laboratory Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Shanghai, PRC December 14, 2015 | ||
Registered capital | ¥ 30,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Chongqing Genetron Medical Laboratory Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Chongqing, PRC August 11, 2016 | ||
Registered capital | ¥ 20,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Guangzhou Genetron Medical Laboratory Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Guangzhou, PRC July 8, 2019 | ||
Registered capital | ¥ 10,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Gene-related detection services | ||
Genetron Health Technologies, Inc. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Delaware, United States of AmericaApril 28, 2015 | ||
Registered capital | $ | $ 10,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Research services | ||
Direct Ownership | Genetron HK | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Hong Kong, June 6, 2018 | ||
Registered capital | $ | $ 10,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding | ||
Direct Ownership | Genetron Health, Inc. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Delaware, United States of AmericaAugust 23, 2019 | ||
Registered capital | $ | 1 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Molecular diagnostic services | ||
Indirect Ownership | Genentron TJ | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Tianjin, PRC March 8, 2019 | ||
Registered capital | ¥ 500,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Biotechnology development and technical services | ||
Indirect Ownership | Shanghai Junran Bio- Technology Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Shanghai, PRC July 1, 2019 | ||
Registered capital | ¥ 1,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Biotechnology development and technical services | ||
Indirect Ownership | Genetron (Wuxi) Business Management Co., Ltd. | |||
Disclosure Of Interest In Subsidiaries And Variable Interest Entities [Line Items] | |||
Place Of Incorporation | Wuxi, PRC December 3, 2020 | ||
Registered capital | $ | $ 50,000,000 | ||
Effective equity interest held | 100.00% | ||
Principal activities | Investment holding |
General information, reorgani_4
General information, reorganization and basis of presentation - Disclosure of Interest in Subsidiaries and Variable Interest Entities (Parenthetical) (Detail) - Wuxi Genetron Enterprise Management Co., Ltd. | 12 Months Ended |
Dec. 31, 2020 | |
Beneficial Ownership | |
Disclosure Of Reconciliation Of Segment Profits To Loss For The Year [Line Items] | |
Percentage of ownership interest in subsidiaries | 90.00% |
Redeemable Ownership Interest | |
Disclosure Of Reconciliation Of Segment Profits To Loss For The Year [Line Items] | |
Percentage of ownership interest in subsidiaries | 10.00% |
General information, reorgani_5
General information, reorganization and basis of presentation - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended |
Jan. 31, 2021 | Dec. 31, 2020 | |
General Information [Line Items] | ||
Entity incorporation date of incorporation | Apr. 9, 2018 | |
Country of incorporation | Cayman Islands | |
Redeemable Ownership Interest [Member] | Major ordinary share transactions [member] | ||
General Information [Line Items] | ||
Proceeds from issuing other equity instruments | $ 1,670,000 |
Summary of significant accoun_4
Summary of significant accounting policies - Summary of Financial Information of the Group's VIEs and Subsidiaries of VIEs (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2020USD ($) | |
Disclosure Detail Of Summarized Financial Information Of Consolidated Condensed Financials [Line Items] | |||||
Non-current assets | ¥ 183,833 | ¥ 144,356 | $ 28,173 | ||
Current assets | 1,786,065 | 429,152 | 273,726 | ||
Total assets | 1,969,898 | 573,508 | 301,899 | ||
Non-current liabilities | 48,509 | 2,139,101 | 7,434 | ||
Current liabilities | 228,844 | 212,738 | 35,072 | ||
Total liabilities | 277,353 | 2,351,839 | 42,506 | ||
Revenue | 424,485 | $ 65,055 | 323,425 | ¥ 225,176 | |
Loss for the year | (3,069,043) | (470,351) | (676,034) | (464,993) | |
Net cash used in operating activities | (300,897) | (46,115) | (196,957) | (201,016) | |
Net cash used in from investing activities | (84,649) | (12,973) | (96,807) | 171,489 | |
Net cash generated from financing activities | 1,744,512 | 267,358 | 371,731 | 49,400 | |
Net increase (decrease) in cash and cash equivalents | 1,358,966 | 208,270 | 77,967 | ¥ 19,873 | |
Variable Interest Entity | |||||
Disclosure Detail Of Summarized Financial Information Of Consolidated Condensed Financials [Line Items] | |||||
Non-current assets | 169,152 | 138,033 | 25,924 | ||
Current assets | 335,772 | 298,815 | 51,459 | ||
Total assets | 504,924 | 436,848 | 77,383 | ||
Non-current liabilities | 780,519 | 265,353 | 119,620 | ||
Current liabilities | 229,062 | 169,522 | 35,105 | ||
Total liabilities | 1,009,581 | 434,875 | $ 154,725 | ||
Revenue | 424,485 | 65,055 | 323,425 | ||
Loss for the year | (236,102) | (36,184) | (406,239) | ||
Net cash used in operating activities | (196,594) | (30,129) | (192,068) | ||
Net cash used in from investing activities | (9,223) | (1,414) | (96,807) | ||
Net cash generated from financing activities | 200,767 | 30,769 | 238,061 | ||
Net increase (decrease) in cash and cash equivalents | ¥ (5,050) | $ (774) | ¥ (50,814) |
Summary of significant accoun_5
Summary of significant accounting policies - Summary of Property Plant And Equipment (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Transporting equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 4 years |
Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Description of useful life, property, plant and equipment | shorter of lease period or 3-5 years |
Bottom of range [member] | Instruments and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 3 years |
Bottom of range [member] | Office equipment and furniture | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 3 years |
Bottom of range [member] | Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 3 years |
Top of range [member] | Instruments and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 5 years |
Top of range [member] | Office equipment and furniture | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 5 years |
Top of range [member] | Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Property, plant and equipment | 5 years |
Summary of significant accoun_6
Summary of significant accounting policies - Additional Information (Detail) ¥ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥)¥ / shares | Dec. 31, 2018CNY (¥) | Dec. 31, 2020USD ($) | Jan. 01, 2019CNY (¥) | |
Summary Of Significant Accounting Policies [Line Items] | ||||||
Closing foreign exchange rate | 6.5250 | 6.5250 | ||||
Right-of-use assets | ¥ 59,706 | ¥ 43,182 | ¥ 42,611 | $ 9,150 | ¥ 42,000 | |
Approximated lease liabilities | ¥ 42,000 | |||||
Profit (loss) | ¥ (3,069,043) | $ (470,351) | (676,034) | ¥ (464,993) | ||
IFRS 16 | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Profit (loss) | ¥ 2,000 | |||||
Basic and diluted earnings (loss) per share | ¥ / shares | ¥ 0.01 | |||||
Bottom of range | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Lessee lease term | 2 years | 2 years | ||||
Top of range | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Lessee lease term | 5 years | 5 years | ||||
Computer software | Bottom of range | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Finite lived intangible assets estimated useful lives | 5 years | 5 years | ||||
Computer software | Top of range | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Finite lived intangible assets estimated useful lives | 10 years | 10 years | ||||
Other intangible assets | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Finite lived intangible assets estimated useful lives | 4 years | 4 years | ||||
Variable Interest Entity | Equity Pledge Agreement | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Percentage of equity interest pledged | 100.00% | 100.00% | ||||
Variable Interest Entity | Exclusive Business Co-operation Agreement | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Percentage of net profits eligible in respect of fees | 100.00% | 100.00% |
Financial risk management - Dis
Financial risk management - Disclosure Details Of Expected Credit Loss On Trade Receivables And Contract Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Trade receivables and contract assets, gross | ¥ 182,100 | ¥ 88,011 |
Loss allowance | ¥ 16,396 | ¥ 3,234 |
Within 6 months | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 5.00% | |
Trade receivables and contract assets, gross | ¥ 118,104 | |
Loss allowance | ¥ 6,304 | |
Between 6 months to 1 year | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 11.00% | |
Trade receivables and contract assets, gross | ¥ 41,047 | |
Loss allowance | ¥ 4,692 | |
Within than 2 months | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 1.00% | |
Trade receivables and contract assets, gross | ¥ 40,834 | |
Loss allowance | ¥ 392 | |
Between 2 months to 1 year | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 1.00% | |
Trade receivables and contract assets, gross | ¥ 39,837 | |
Loss allowance | ¥ 398 | |
Between 1 to 2 years | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 20.00% | 20.00% |
Trade receivables and contract assets, gross | ¥ 21,304 | ¥ 5,484 |
Loss allowance | ¥ 4,300 | ¥ 1,107 |
Between 2 to 3 years | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 65.00% | 60.00% |
Trade receivables and contract assets, gross | ¥ 1,562 | ¥ 1,300 |
Loss allowance | ¥ 1,017 | ¥ 781 |
After 3 years | ||
Disclosure of financial assets [line items] | ||
Expected loss rate | 100.00% | 100.00% |
Trade receivables and contract assets, gross | ¥ 83 | ¥ 556 |
Loss allowance | ¥ 83 | ¥ 556 |
Financial risk management - D_2
Financial risk management - Disclosure of maturity analysis for non-derivative financial liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Financial instruments with preferred rights | ¥ 0 | ¥ 2,106,334 | ¥ 1,320,712 | ¥ 1,018,019 |
Borrowings | 64,076 | 23,157 | ||
Lease liabilities | 59,601 | 44,487 | ||
Total | 224,405 | 2,310,690 | ||
Financial instruments with preferred rights | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Financial instruments with preferred rights | 2,106,334 | |||
Borrowings | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Borrowings | 66,468 | 24,909 | ||
Lease liabilities | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Lease liabilities | 67,636 | 49,535 | ||
Trade Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 34,071 | 49,955 | ||
Other Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Other payables | 56,206 | 79,923 | ||
Amounts due to a related party | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Amounts payable, related party transactions | 24 | 34 | ||
Less than 1 year | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Total | 170,084 | 167,709 | ||
Less than 1 year | Borrowings | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Borrowings | 60,689 | 21,009 | ||
Less than 1 year | Lease liabilities | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Lease liabilities | 19,094 | 16,788 | ||
Less than 1 year | Trade Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 34,071 | 49,955 | ||
Less than 1 year | Other Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Other payables | 56,206 | 79,923 | ||
Less than 1 year | Amounts due to a related party | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Amounts payable, related party transactions | 24 | 34 | ||
Between 1 and 2 years | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Total | 22,612 | 2,122,935 | ||
Between 1 and 2 years | Financial instruments with preferred rights | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Financial instruments with preferred rights | 2,106,334 | |||
Between 1 and 2 years | Borrowings | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Borrowings | 5,779 | 3,293 | ||
Between 1 and 2 years | Lease liabilities | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Lease liabilities | 16,833 | 13,308 | ||
Between 1 and 2 years | Trade Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 0 | 0 | ||
Between 1 and 2 years | Other Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Other payables | 0 | 0 | ||
Between 1 and 2 years | Amounts due to a related party | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Amounts payable, related party transactions | 0 | 0 | ||
Between 2 and 5 years | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Total | 28,705 | 20,046 | ||
Between 2 and 5 years | Borrowings | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Borrowings | 0 | 607 | ||
Between 2 and 5 years | Lease liabilities | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Lease liabilities | 28,705 | 19,439 | ||
Between 2 and 5 years | Trade Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 0 | 0 | ||
Between 2 and 5 years | Other Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Other payables | 0 | 0 | ||
Between 2 and 5 years | Amounts due to a related party | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Amounts payable, related party transactions | 0 | 0 | ||
Over 5 years | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Total | 3,004 | 0 | ||
Over 5 years | Borrowings | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Borrowings | 0 | 0 | ||
Over 5 years | Lease liabilities | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Lease liabilities | 3,004 | 0 | ||
Over 5 years | Trade Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Trade payables | 0 | 0 | ||
Over 5 years | Other Payables | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Other payables | 0 | 0 | ||
Over 5 years | Amounts due to a related party | ||||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||||
Amounts payable, related party transactions | ¥ 0 | ¥ 0 |
Financial risk management - D_3
Financial risk management - Disclosure Of Financial Assets And Liabilities At Fair Value (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | ¥ 19,609 | $ 3,005 | |||
Financial liabilities at fair value through profit or loss | 0 | ¥ 2,106,334 | ¥ 1,320,712 | ¥ 1,018,019 | |
Total | 160,099 | ||||
Wealth Management Products | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | 130,002 | 122,224 | |||
Financial instruments with preferred rights | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial liabilities at fair value through profit or loss | 2,106,334 | ||||
Equity security | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | 10,292 | ||||
Other Investments | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | 19,609 | ||||
Foreign Currency Forwards | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Derivative financial instruments | 196 | ||||
Level 1 | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Total | 10,292 | ||||
Level 1 | Equity security | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | 10,292 | ||||
Level 2 | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Total | 196 | ||||
Level 2 | Foreign Currency Forwards | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Derivative financial instruments | 196 | ||||
Level 3 | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Total | 149,611 | ||||
Level 3 | Wealth Management Products | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | 130,002 | 122,224 | |||
Level 3 | Financial instruments with preferred rights | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial liabilities at fair value through profit or loss | ¥ 2,106,334 | ||||
Level 3 | Other Investments | |||||
Disclosure Of Financial Assets And Liabilites At Fair Value [Line Items] | |||||
Financial assets at fair value through profit or loss | ¥ 19,609 |
Financial risk management - D_4
Financial risk management - Disclosure Of Changes In Fair Value Of Financial Assets Based On Significant Unobservable Inputs (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of fair value measurement of assets [line items] | ||||
Opening balance | ¥ 573,508 | |||
Closing balance | 1,969,898 | $ 301,899 | ¥ 573,508 | |
Level 3 | Wealth Management Products | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Opening balance | 122,224 | 38,597 | ¥ 252,915 | |
Additions | 1,628,558 | 479,100 | 895,140 | |
Settlements | (1,625,106) | (396,420) | (1,116,604) | |
Investment income credited to profit or loss (Note 9) | 4,652 | 947 | 7,146 | |
Exchange differences | (326) | |||
Closing balance | 130,002 | 122,224 | ¥ 38,597 | |
Level 3 | Other Investments | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Opening balance | 0 | |||
Additions | 19,000 | |||
Fair value change recognized in profit or loss (Note 9) | 609 | |||
Closing balance | ¥ 19,609 | ¥ 0 |
Financial risk management - Add
Financial risk management - Additional Information (Detail) - CNY (¥) | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [abstract] | ||
Net debt outstanding | ¥ 0 | ¥ 0 |
Allowance for losses of individual assess receivables | ¥ 2,036,000 | ¥ 356,000 |
Revenue and segment informati_3
Revenue and segment information - Summary of Revenue and Segment Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of operating segments [line items] | ||||
Revenue | ¥ 424,485 | $ 65,055 | ¥ 323,425 | ¥ 225,176 |
Segment profit/(loss) | (3,069,043) | $ (470,351) | (676,034) | (464,993) |
Operating segments | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 424,485 | 323,425 | 225,176 | |
Segment profit/(loss) | 260,217 | 144,990 | 92,726 | |
Operating segments | Diagnosis and monitoring – provision of LDT services | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 291,702 | 234,569 | 168,579 | |
Segment profit/(loss) | 198,170 | 141,542 | 93,545 | |
Operating segments | Diagnosis and monitoring – sale of IVD products | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 93,982 | 34,915 | 4,714 | |
Segment profit/(loss) | 60,266 | 11,966 | 1,491 | |
Operating segments | Development services | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 38,801 | 53,941 | 51,883 | |
Segment profit/(loss) | ¥ 1,781 | ¥ (8,518) | ¥ (2,310) |
Revenue and segment informati_4
Revenue and segment information - Summary of Reconciliation of Segment Profits to Loss for the Year (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of reconciliation of segment profits to loss for the year [line items] | ||||
Loss for the year | ¥ (3,069,043) | $ (470,351) | ¥ (676,034) | ¥ (464,993) |
Material reconciling items | ||||
Disclosure of reconciliation of segment profits to loss for the year [line items] | ||||
Loss for the year | (3,069,043) | (676,034) | (464,993) | |
Material reconciling items | Total segment profits | ||||
Disclosure of reconciliation of segment profits to loss for the year [line items] | ||||
Loss for the year | 260,217 | 144,990 | 92,726 | |
Material reconciling items | Operating expenses | ||||
Disclosure of reconciliation of segment profits to loss for the year [line items] | ||||
Loss for the year | (528,593) | (451,860) | (325,702) | |
Material reconciling items | Finance income/(costs) – net | ||||
Disclosure of reconciliation of segment profits to loss for the year [line items] | ||||
Loss for the year | 22,703 | (9,221) | 1,615 | |
Material reconciling items | losses from financial instruments with preferred rights | ||||
Disclosure of reconciliation of segment profits to loss for the year [line items] | ||||
Loss for the year | ¥ (2,823,370) | ¥ (359,943) | ¥ (233,632) |
Revenue and segment informati_5
Revenue and segment information - Summary of Timing of Revenue Recognition (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of performance obligations [line items] | ||||
Revenue | ¥ 424,485 | $ 65,055 | ¥ 323,425 | ¥ 225,176 |
Material reconciling items | ||||
Disclosure of performance obligations [line items] | ||||
Revenue | 424,485 | 323,425 | 225,176 | |
Material reconciling items | Over time | ||||
Disclosure of performance obligations [line items] | ||||
Revenue | 265,137 | 204,406 | 149,906 | |
Material reconciling items | At a point in time | ||||
Disclosure of performance obligations [line items] | ||||
Revenue | ¥ 159,348 | ¥ 119,019 | ¥ 75,270 |
Revenue and segment informati_6
Revenue and segment information - Summary of Assets and Liabilities Related to Contracts with Customers (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2020USD ($) | |
Text Block [Abstract] | |||
Contract assets | ¥ 1,181 | ¥ 1,131 | |
Less: provision for impairment | (69) | (111) | |
Contract assets | 1,112 | 1,020 | $ 170 |
Contract liabilities | 8,417 | 18,189 | |
Revenue recognized that was included in the contract liabilities balance at the beginning of the year | ¥ 16,026 | ¥ 8,469 |
Expenses by nature - Summary of
Expenses by nature - Summary of Expenses by Nature (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Expenses by nature [abstract] | |||
Cost of inventories and consumables used | ¥ 148,988 | ¥ 144,644 | ¥ 110,970 |
Employee benefit expenses | 268,986 | 236,476 | 176,507 |
Depreciation on property, plant and equipment | 33,466 | 30,458 | 26,752 |
Depreciation on right-of-use assets | 18,277 | 14,784 | |
Amortization on intangible assets | 1,452 | 1,344 | 1,106 |
Provision for impairment of trade and other receivables and contract assets | 14,843 | 2,733 | 658 |
Promotion expenses | 131,209 | 130,599 | 92,811 |
Rental, utilities and office expenses | 16,347 | 9,663 | 17,670 |
Listing expenses | ¥ 986 | ¥ 27,064 | ¥ 9,392 |
Employee benefit expenses - Sum
Employee benefit expenses - Summary of PRC Members Employee Benefit Expenses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Classes of employee benefits expense [abstract] | |||
Wages, salaries and bonuses | ¥ 195,462 | ¥ 153,815 | ¥ 111,794 |
Welfare expenses | 8,637 | 8,866 | 7,500 |
Housing funds | 14,799 | 11,465 | 7,996 |
Contributions to pension plans | 20,137 | 26,446 | 19,573 |
Share-based compensation expenses | 29,951 | 35,884 | 29,644 |
Employee benefits expense | ¥ 268,986 | ¥ 236,476 | ¥ 176,507 |
Employee benefit expenses - S_2
Employee benefit expenses - Summary of Employee Benefit Expenses (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Statements [Line Items] | ||||
Cost of revenue | ¥ 164,268 | $ 25,175 | ¥ 178,435 | ¥ 132,450 |
Selling expenses | 246,959 | 37,848 | 253,558 | 182,474 |
Administrative expenses | 126,318 | 19,359 | 117,169 | 88,233 |
Research and development expenses | 148,999 | $ 22,835 | 91,697 | 71,411 |
Employee benefits expense | 268,986 | 236,476 | 176,507 | |
Employee benefit expense | ||||
Statements [Line Items] | ||||
Cost of revenue | 27,108 | 27,375 | 21,737 | |
Selling expenses | 101,379 | 101,378 | 75,303 | |
Administrative expenses | 64,610 | 60,084 | 48,529 | |
Research and development expenses | 75,889 | 47,639 | 30,938 | |
Employee benefits expense | ¥ 268,986 | ¥ 236,476 | ¥ 176,507 |
Other income and gains - net -
Other income and gains - net - Summary of Other Income and Gains Nets (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure Of Other Income And Gains [Abstract] | ||||
Investment income from wealth management products | ¥ 4,652 | ¥ 947 | ¥ 7,146 | |
Fair value (loss)/gain on equity security | (3,153) | |||
Fair value (loss)/gain on other investment | 609 | |||
Fair value (loss)/gain on derivative financial instruments | 196 | |||
Gain on redemption of derivative financial instruments | 1,550 | |||
Gain on disposal of property, plant and equipment | 1,505 | |||
Government grants | 3,869 | 11,695 | 10,695 | |
Amortization on deferred income from ADS depository | 2,405 | |||
Others | (1,602) | (850) | (767) | |
Other income and gains – net | ¥ 8,526 | $ 1,307 | ¥ 13,297 | ¥ 17,074 |
Finance income_(costs) - net -
Finance income/(costs) - net - Detailed information of Finance income/(costs) (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure Of Finance Income Expense [Abstract] | ||||
Interests from bank deposits | ¥ 433 | ¥ 198 | ¥ 798 | |
Interests from loans to a related party | 243 | 749 | ||
Net exchange gains | 27,897 | 2,042 | 68 | |
Finance income | 28,330 | $ 4,341 | 2,483 | 1,615 |
Issuance costs of financial instruments with preferred rights | (6,303) | |||
Interests on lease liabilities | (2,069) | (2,076) | ||
Interests on borrowings | (3,298) | (2,133) | ||
Interests on loans from a related party | (1,192) | |||
Others | (260) | |||
Finance costs | (5,627) | (862) | (11,704) | |
Finance income/(costs) - net | ¥ 22,703 | $ 3,479 | ¥ (9,221) | ¥ 1,615 |
Income tax expense - Summary of
Income tax expense - Summary of reconciliation between the Groups actual tax charge and statutory income tax rate (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | ||||
Loss before income tax | ¥ (3,069,043) | $ (470,351) | ¥ (676,034) | ¥ (464,993) |
Tax credits calculated at statutory tax rate of 25% | (767,261) | (169,009) | (116,248) | |
Effects of preferential tax rates | 18,900 | 37,139 | 44,728 | |
Expenses not deductible for income tax purpose | 722,458 | 101,536 | 44,926 | |
Super deduction of research and development expenses | (8,390) | (6,273) | (4,279) | |
Tax losses and deductible temporary differences for which no deferred income tax assets were recognized | 34,293 | 36,607 | 30,873 | |
Income tax expense | ¥ 0 | ¥ 0 | ¥ 0 |
Income tax expense - Summary _2
Income tax expense - Summary of reconciliation between the Groups actual tax charge and statutory income tax rate (Parenthetical) (Detail) - PRC | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of reconciliation between the Group's actual tax charge and statutory income tax rate [line items] | |
Statutory income tax rate | 25.00% |
Preferential Tax Rate | 15.00% |
Income tax expense - Additional
Income tax expense - Additional Information (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020HKD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018 | |
Disclosure of reconciliation between the Group's actual tax charge and statutory income tax rate [line items] | ||||
Deferred income tax assets | ¥ 140,000 | ¥ 106,000 | ||
Tax effect of tax losses | 840,000 | 660,000 | ||
Unrecognized uncertain tax positions | ¥ 0 | ¥ 0 | ||
Tax effect of tax losses expire period | 2030 | 2030 | 2029 | |
Bottom of range | ||||
Disclosure of reconciliation between the Group's actual tax charge and statutory income tax rate [line items] | ||||
Tax effect of tax losses expiration year | 5 years | |||
Top of range | ||||
Disclosure of reconciliation between the Group's actual tax charge and statutory income tax rate [line items] | ||||
Tax effect of tax losses expiration year | 10 years | |||
HONG KONG | ||||
Disclosure of reconciliation between the Group's actual tax charge and statutory income tax rate [line items] | ||||
Applicable tax rate | 0.00% | 0.00% | ||
Accounting profit | $ | $ 0 |
Loss per share - Summary of bas
Loss per share - Summary of basic and diluted loss per share reflecting the effect of the issuance of ordinary shares by the company (Detail) ¥ / shares in Units, ¥ in Thousands, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥)¥ / sharesshares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019CNY (¥)¥ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | |
Disclosure of basic and diluted loss per share reflecting the effect of the issuance of ordinary shares explanatory [line items] | ||||
Loss attributable to owners of the Company | ¥ (3,069,043) | $ (470,351) | ¥ (676,034) | ¥ (464,993) |
Weighted average number of ordinary shares outstanding | shares | 301,380 | 301,380 | 124,895 | 113,757 |
Basic loss | ¥ (10.18) | ¥ (5.41) | ¥ (4.09) | |
ADS | ||||
Disclosure of basic and diluted loss per share reflecting the effect of the issuance of ordinary shares explanatory [line items] | ||||
Basic loss | ¥ (50.92) |
Loss per share - Summary of mov
Loss per share - Summary of movement of number of ordinary shares outstanding (excluding treasury shares) (Detail) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Movement Of Number Of Ordinary Shares Outstanding Excluding Treasury Shares [Abstract] | |||
At beginning of the year | 123,584 | 119,812 | 107,768 |
Ordinary shares repurchased | (8,272) | ||
Ordinary shares issued upon IPO | 80,000 | ||
Ordinary shares converted from Preferred Shares upon IPO | 220,332 | ||
Restricted shares vested | 17,894 | 12,044 | 12,044 |
Awards vested | 14,897 | ||
At end of the year | 456,707 | 123,584 | 119,812 |
Property, plant and equipment -
Property, plant and equipment - Summary of property plant and equipment (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | ¥ 76,891 | ¥ 83,013 | ¥ 82,551 | ¥ 65,303 | |
Opening net book value | 83,013 | 82,551 | 65,303 | ||
Additions | 27,377 | 30,986 | 44,025 | ||
Disposals | (173) | ||||
Depreciation | (33,466) | (30,458) | (26,752) | ||
Exchange differences | (33) | 107 | (25) | ||
Closing net book value | 76,891 | $ 11,784 | 83,013 | 82,551 | |
Cost | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 200,392 | 173,161 | 144,178 | 100,165 | |
Accumulated depreciation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | (123,501) | (90,148) | (61,627) | (34,862) | |
Instruments and equipment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 66,065 | 74,563 | 72,195 | 52,620 | |
Opening net book value | 74,563 | 72,195 | 52,620 | ||
Additions | 19,573 | 27,766 | 40,610 | ||
Disposals | (173) | ||||
Depreciation | (28,038) | (25,332) | (21,010) | ||
Exchange differences | (33) | 107 | (25) | ||
Closing net book value | 66,065 | 74,563 | 72,195 | ||
Instruments and equipment | Cost | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 167,085 | 147,658 | 121,895 | 81,297 | |
Instruments and equipment | Accumulated depreciation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | (101,020) | (73,095) | (49,700) | (28,677) | |
Office equipment and furniture | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 2,323 | 2,199 | 1,824 | 2,000 | |
Opening net book value | 2,199 | 1,824 | 2,000 | ||
Additions | 908 | 986 | 345 | ||
Disposals | 0 | ||||
Depreciation | (784) | (611) | (521) | ||
Exchange differences | 0 | 0 | 0 | ||
Closing net book value | 2,323 | 2,199 | 1,824 | ||
Office equipment and furniture | Cost | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 4,861 | 3,953 | 2,967 | 2,622 | |
Office equipment and furniture | Accumulated depreciation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | (2,538) | (1,754) | (1,143) | (622) | |
Transporting equipment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 191 | 303 | 392 | 0 | |
Opening net book value | 303 | 392 | 0 | ||
Additions | 0 | 24 | 445 | ||
Disposals | 0 | ||||
Depreciation | (112) | (113) | (53) | ||
Exchange differences | 0 | 0 | 0 | ||
Closing net book value | 191 | 303 | 392 | ||
Transporting equipment | Cost | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 469 | 469 | 445 | 0 | |
Transporting equipment | Accumulated depreciation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | (278) | (166) | (53) | 0 | |
Leasehold improvements | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 8,312 | 5,948 | 8,140 | 10,683 | |
Opening net book value | 5,948 | 8,140 | 10,683 | ||
Additions | 6,896 | 2,210 | 2,625 | ||
Disposals | 0 | ||||
Depreciation | (4,532) | (4,402) | (5,168) | ||
Exchange differences | 0 | 0 | 0 | ||
Closing net book value | 8,312 | 5,948 | 8,140 | ||
Leasehold improvements | Cost | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | 27,977 | 21,081 | 18,871 | 16,246 | |
Leasehold improvements | Accumulated depreciation | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Net book value | ¥ (19,665) | ¥ (15,133) | ¥ (10,731) | ¥ (5,563) |
Leases - Summary of right of us
Leases - Summary of right of use assets (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Jan. 01, 2019CNY (¥) | |
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | ¥ 59,706 | $ 9,150 | ¥ 42,611 | ¥ 42,000 |
Opening net book amount | 43,182 | 42,611 | ||
Additions | 34,801 | 15,355 | ||
Depreciation | (18,277) | (14,784) | ||
Closing net book amount | 59,706 | $ 9,150 | 43,182 | |
Cost | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | 92,767 | 57,966 | ||
Opening net book amount | 57,966 | 42,611 | ||
Closing net book amount | 92,767 | 57,966 | ||
Accumulated impairment | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | (33,061) | (14,784) | ||
Opening net book amount | (14,784) | |||
Closing net book amount | (33,061) | (14,784) | ||
Properties | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | 59,692 | 43,150 | ||
Opening net book amount | 43,150 | 42,561 | ||
Additions | 34,801 | 15,355 | ||
Depreciation | (18,259) | (14,766) | ||
Closing net book amount | 59,692 | 43,150 | ||
Properties | Cost | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | 92,717 | 57,916 | ||
Opening net book amount | 57,916 | 42,561 | ||
Closing net book amount | 92,717 | 57,916 | ||
Properties | Accumulated impairment | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | (33,025) | (14,766) | ||
Opening net book amount | (14,766) | |||
Closing net book amount | (33,025) | (14,766) | ||
Office equipment | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | 14 | 32 | ||
Opening net book amount | 32 | 50 | ||
Additions | 0 | 0 | ||
Depreciation | (18) | (18) | ||
Closing net book amount | 14 | 32 | ||
Office equipment | Cost | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | 50 | 50 | ||
Opening net book amount | 50 | 50 | ||
Closing net book amount | 50 | 50 | ||
Office equipment | Accumulated impairment | ||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||
Net book value | (36) | (18) | ||
Opening net book amount | (18) | |||
Closing net book amount | ¥ (36) | ¥ (18) |
Leases - Disclosure Of Quantita
Leases - Disclosure Of Quantitative Information About Lease Liabilities (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Lease liabilities [abstract] | |||
Non-current | ¥ 43,016 | $ 6,592 | ¥ 29,124 |
Current | 16,585 | $ 2,542 | 15,363 |
Lease liabilities | ¥ 59,601 | ¥ 44,487 |
Leases - Disclosure Of Detailed
Leases - Disclosure Of Detailed Information About Breakdown Of Lease Expense Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Quantitative Information About Amounts recognized in the consolidated statements of loss in addition to depreciation [Abstract] | ||
Interest expense (included in finance costs) | ¥ 2,069 | ¥ 2,076 |
Expense relating to short-term leases (included in cost of revenue, selling expenses, administrative expenses and research and development expenses) | 530 | 621 |
Expense relating to leases of low-value assets that are not shown above as short-term leases (included in cost of revenue, administrative expenses and research and development expenses) | ¥ 521 | ¥ 403 |
Leases - Additional Information
Leases - Additional Information (Detail) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Text Block [Abstract] | ||
Total cash outflow for leases | ¥ 22,726,000 | ¥ 15,234,000 |
Intangible assets - Summary of
Intangible assets - Summary of Intangible Assets (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | ¥ 12,265 | $ 1,880 | ¥ 3,395 | ¥ 3,395 |
Opening net book value | 5,482 | 3,395 | 3,882 | |
Additions | 8,253 | 3,376 | 608 | |
Amortization | (1,452) | (1,344) | (1,106) | |
Exchange differences | (18) | 55 | 11 | |
Closing net book value | 12,265 | $ 1,880 | 5,482 | 3,395 |
Computer software | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 12,265 | 5,482 | 2,887 | |
Opening net book value | 5,482 | 2,887 | 2,867 | |
Additions | 8,253 | 3,376 | 608 | |
Amortization | (1,452) | (836) | (599) | |
Exchange differences | (18) | 55 | 11 | |
Closing net book value | 12,265 | 5,482 | 2,887 | |
Patented technology | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 0 | 0 | 0 | |
Opening net book value | 0 | 0 | 0 | |
Additions | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Exchange differences | 0 | 0 | 0 | |
Closing net book value | 0 | 0 | 0 | |
Others | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 0 | 0 | 508 | |
Opening net book value | 0 | 508 | 1,015 | |
Additions | 0 | 0 | 0 | |
Amortization | 0 | (508) | (507) | |
Exchange differences | 0 | 0 | 0 | |
Closing net book value | 0 | 0 | 508 | |
Cost | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 18,058 | 9,939 | 6,460 | |
Opening net book value | 9,939 | 6,460 | 5,823 | |
Closing net book value | 18,058 | 9,939 | 6,460 | |
Cost | Computer software | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 15,798 | 7,679 | 4,200 | |
Opening net book value | 7,679 | 4,200 | 3,563 | |
Closing net book value | 15,798 | 7,679 | 4,200 | |
Cost | Patented technology | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 230 | 230 | 230 | |
Opening net book value | 230 | 230 | 230 | |
Closing net book value | 230 | 230 | 230 | |
Cost | Others | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | 2,030 | 2,030 | 2,030 | |
Opening net book value | 2,030 | 2,030 | 2,030 | |
Closing net book value | 2,030 | 2,030 | 2,030 | |
Accumulated amortization and impairment | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | (5,793) | (4,457) | (3,065) | |
Opening net book value | (4,457) | (3,065) | (1,941) | |
Closing net book value | (5,793) | (4,457) | (3,065) | |
Accumulated amortization and impairment | Computer software | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | (3,533) | (2,197) | (1,313) | |
Opening net book value | (2,197) | (1,313) | (696) | |
Closing net book value | (3,533) | (2,197) | (1,313) | |
Accumulated amortization and impairment | Patented technology | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | (230) | (230) | (230) | |
Opening net book value | (230) | (230) | (230) | |
Closing net book value | (230) | (230) | (230) | |
Accumulated amortization and impairment | Others | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Net book value | (2,030) | (2,030) | (1,522) | |
Opening net book value | (2,030) | (1,522) | (1,015) | |
Closing net book value | ¥ (2,030) | ¥ (2,030) | ¥ (1,522) |
Financial instruments by cate_3
Financial instruments by category -Summary of financial instruments (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due from related parties | ¥ 214 | ¥ 1,064 | ||||
Financial assets at fair value through profit or loss | 19,609 | $ 3,005 | ||||
Cash and cash equivalents | 1,375,766 | $ 210,845 | 139,954 | $ 21,449 | ¥ 62,126 | ¥ 42,030 |
Financial assets | 1,712,639 | 351,272 | ||||
Financial instruments with preferred rights | 0 | 2,106,334 | ¥ 1,320,712 | ¥ 1,018,019 | ||
Borrowings | 64,076 | 23,157 | ||||
Financial liabilities | 213,978 | 2,303,890 | ||||
Trade receivables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Trade receivables | 164,592 | 83,757 | ||||
Other receivables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Other receivables | 11,968 | 4,273 | ||||
Amounts due from related parties | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due from related parties | 214 | 1,064 | ||||
Financial assets at fair value through profit or loss | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial assets at fair value through profit or loss | 159,903 | 122,224 | ||||
Derivative financial instruments | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Derivative financial instruments | 196 | |||||
Cash and cash equivalents | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Cash and cash equivalents | 1,375,766 | 139,954 | ||||
Financial instruments with preferred rights | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial instruments with preferred rights | 2,106,334 | |||||
Borrowings | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Borrowings | 64,076 | 23,157 | ||||
Lease liabilities | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Leases Liabilities | 59,601 | 44,487 | ||||
Trade Payables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Trade payables | 34,071 | 49,955 | ||||
Other Payables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Other payables | 56,206 | 79,923 | ||||
Amounts due to a related party | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due to a related party | 24 | 34 | ||||
Financial liabilities at FVPL | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial liabilities | 0 | 2,106,334 | ||||
Financial liabilities at FVPL | Financial instruments with preferred rights | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial instruments with preferred rights | 2,106,334 | |||||
Financial liabilities at FVPL | Borrowings | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Borrowings | 0 | 0 | ||||
Financial liabilities at FVPL | Lease liabilities | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Leases Liabilities | 0 | 0 | ||||
Financial liabilities at FVPL | Trade Payables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Trade payables | 0 | 0 | ||||
Financial liabilities at FVPL | Other Payables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Other payables | 0 | 0 | ||||
Financial liabilities at FVPL | Amounts due to a related party | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due to a related party | 0 | 0 | ||||
Financial liabilities at amortized cost | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial liabilities | 213,978 | 197,556 | ||||
Financial liabilities at amortized cost | Financial instruments with preferred rights | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial instruments with preferred rights | 0 | |||||
Financial liabilities at amortized cost | Borrowings | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Borrowings | 64,076 | 23,157 | ||||
Financial liabilities at amortized cost | Lease liabilities | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Leases Liabilities | 59,601 | 44,487 | ||||
Financial liabilities at amortized cost | Trade Payables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Trade payables | 34,071 | 49,955 | ||||
Financial liabilities at amortized cost | Other Payables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Other payables | 56,206 | 79,923 | ||||
Financial liabilities at amortized cost | Amounts due to a related party | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due to a related party | 24 | 34 | ||||
Financial assets at FVPL | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial assets | 160,099 | 122,224 | ||||
Financial assets at FVPL | Trade receivables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Trade receivables | 0 | 0 | ||||
Financial assets at FVPL | Other receivables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Other receivables | 0 | 0 | ||||
Financial assets at FVPL | Amounts due from related parties | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due from related parties | 0 | 0 | ||||
Financial assets at FVPL | Financial assets at fair value through profit or loss | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial assets at fair value through profit or loss | 159,903 | 122,224 | ||||
Financial assets at FVPL | Derivative financial instruments | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Derivative financial instruments | 196 | |||||
Financial assets at FVPL | Cash and cash equivalents | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Cash and cash equivalents | 0 | 0 | ||||
Financial assets at amortized cost | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial assets | 1,552,540 | 229,048 | ||||
Financial assets at amortized cost | Trade receivables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Trade receivables | 164,592 | 83,757 | ||||
Financial assets at amortized cost | Other receivables | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Other receivables | 11,968 | 4,273 | ||||
Financial assets at amortized cost | Amounts due from related parties | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Amounts due from related parties | 214 | 1,064 | ||||
Financial assets at amortized cost | Financial assets at fair value through profit or loss | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Financial assets at fair value through profit or loss | 0 | 0 | ||||
Financial assets at amortized cost | Derivative financial instruments | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Derivative financial instruments | 0 | |||||
Financial assets at amortized cost | Cash and cash equivalents | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Cash and cash equivalents | ¥ 1,375,766 | ¥ 139,954 |
Inventories - Summary of Detail
Inventories - Summary of Detailed Information About Inventories Explanatory (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Classes of current inventories [abstract] | |||
Raw materials | ¥ 14,078 | ¥ 14,824 | |
Work-in-progress | 5,265 | 1,325 | |
Finished goods | 5,628 | 1,747 | |
Total inventories | ¥ 24,971 | $ 3,827 | ¥ 17,896 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Classes of current inventories [abstract] | |||
Cost of inventories recognized as operating costs | ¥ 148,988,000 | ¥ 144,644,000 | ¥ 110,970,000 |
Trade receivables - Summary of
Trade receivables - Summary of Detailed Information About Trade Receivables (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Trade receivables | ¥ 164,592 | $ 25,225 | ¥ 83,757 |
Trade receivables | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Trade receivables | 182,955 | 87,236 | |
Less: provision for impairment | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Trade receivables | ¥ (18,363) | ¥ (3,479) |
Other receivables and prepaym_3
Other receivables and prepayments (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Statements [Line Items] | |||
Deposits | ¥ 7,603 | ¥ 4,273 | |
Prepayment for goods and service | 27,568 | 10,694 | |
Prepayment for rental expenses | 694 | 1,216 | |
Others | 7,032 | 3,820 | |
Other receivables and prepayments | 42,420 | $ 6,501 | 19,526 |
Gross carrying amount | |||
Statements [Line Items] | |||
Other receivables and prepayments | 42,897 | 20,003 | |
Accumulated impairment | |||
Statements [Line Items] | |||
Other receivables and prepayments | ¥ (477) | ¥ (477) |
Financial assets at fair valu_3
Financial assets at fair value through profit or loss (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | |||
Current financial assets at fair value through profit or loss | ¥ 140,294 | $ 21,501 | ¥ 122,224 |
Other Investments | |||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | |||
Non-current financial assets at fair value through profit or loss | 19,609 | ||
Wealth Management Products | |||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | |||
Current financial assets at fair value through profit or loss | 130,002 | ¥ 122,224 | |
Other equity securities | |||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | |||
Current financial assets at fair value through profit or loss | ¥ 10,292 |
Financial assets at fair valu_4
Financial assets at fair value through profit or loss (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Wealth Management Products | ||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | ||
Investment in securities floating interest rate | 2.78% | |
Wealth Management Products | Bottom of range | ||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | ||
Investment in securities floating interest rate | 2.30% | |
Wealth Management Products | Top of range | ||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | ||
Investment in securities floating interest rate | 2.40% | |
Other equity securities | ||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | ||
Payment to acquire financial assets at fair value through profit or loss held for trading | ¥ 14 | |
Other Investments | ||
Disclosure Of Financial Instruments At Fair Value Through Profit Or Loss [Line Items] | ||
Payment to acquire financial assets at fair value through profit or loss | ¥ 19 | |
Percentage of other equity interests | 30.00% |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of cash and cash equivalents (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Disclosure of detailed information about cash and cash equivalents [line items] | ||||||
Cash on hand | ¥ 0 | |||||
Cash and cash equivalents | 1,375,766 | $ 210,845 | ¥ 139,954 | $ 21,449 | ¥ 62,126 | ¥ 42,030 |
RMB deposits | ||||||
Disclosure of detailed information about cash and cash equivalents [line items] | ||||||
Cash at bank | 20,433 | 9,339 | ||||
US$ deposits | ||||||
Disclosure of detailed information about cash and cash equivalents [line items] | ||||||
Cash at bank | 1,355,276 | 130,545 | ||||
HK$ deposits | ||||||
Disclosure of detailed information about cash and cash equivalents [line items] | ||||||
Cash at bank | ¥ 57 | ¥ 70 |
Share capital and share premi_3
Share capital and share premium - Summary of Share Capital Authorized (Detail) ¥ in Thousands | Nov. 30, 2019shares | Jul. 02, 2019shares | Dec. 31, 2020CNY (¥)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Jan. 01, 2020USD ($)shares | Jan. 01, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Apr. 09, 2018USD ($)shares |
Disclosure of classes of share capital [line items] | |||||||||
Conversion of preferred shares into ordinary shares | ¥ | ¥ 4,999,811 | ||||||||
Ordinary shares | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Share sub-division | 2,000,000,000 | ||||||||
Re-designation upon issuance of then preferred shares at share conversion | (171,083,000) | ||||||||
Shares repurchase and issuance- repurchase | 8,272,000 | (8,272,000) | |||||||
Shares repurchase and issuance- issuance | 149,749,995 | 80,000,000 | 80,000,000 | 149,749,995 | |||||
Re-designation upon issuance of preferred shares | (6,829,500) | (6,829,500) | (34,147,600) | ||||||
Conversion of preferred shares into ordinary shares | 220,332,100 | 220,332,100 | |||||||
Re-designation upon issuance of then preferred shares at share conversion | $ | $ (3,000) | ||||||||
Re-designation upon issuance of preferred shares | $ | $ (1,000) | ||||||||
Conversion of preferred shares into ordinary shares | $ | $ 4,000 | ||||||||
Ending balance | 2,500,000,000 | 2,286,497,400 | 2,286,497,400 | 500,000,000 | 500,000,000 | 500,000,000 | |||
Ending balance | $ | $ 50,000 | $ 46,000 | $ 46,000 | $ 50,000 | $ 50,000 | $ 50,000 | |||
Preference shares | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Re-designation upon issuance of then preferred shares at share conversion | 171,083,000 | 171,083,000 | |||||||
Shares repurchase and issuance- repurchase | 6,933,000 | (6,933,000) | |||||||
Shares repurchase and issuance- issuance | 15,205,000 | ||||||||
Re-designation upon issuance of preferred shares | 6,829,500 | 6,829,500 | 34,147,600 | ||||||
Conversion of preferred shares into ordinary shares | (220,332,100) | (220,332,100) | |||||||
Re-designation upon issuance of then preferred shares at share conversion | $ | $ 3,000 | ||||||||
Re-designation upon issuance of preferred shares | $ | $ 1,000 | ||||||||
Conversion of preferred shares into ordinary shares | $ | $ (4,000) | ||||||||
Ending balance | 213,502,600 | 213,502,600 | |||||||
Ending balance | $ | $ 4,000 | $ 4,000 | |||||||
Incorporation | Ordinary shares | |||||||||
Disclosure of classes of share capital [line items] | |||||||||
Ending balance | 500,000,000 | ||||||||
Ending balance | $ | $ 50,000 |
Share capital and share premi_4
Share capital and share premium - Summary of Share Capital Issued (Detail) ¥ in Thousands, $ in Thousands | Nov. 30, 2019shares | Jul. 02, 2019shares | Dec. 31, 2020CNY (¥)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019CNY (¥)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2020USD ($)shares | Jan. 01, 2020CNY (¥)shares | Jan. 01, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Jan. 01, 2019shares | Dec. 31, 2018CNY (¥)shares | Apr. 09, 2018shares | Dec. 31, 2017CNY (¥) |
Disclosure of classes of share capital [line items] | ||||||||||||||
Issuance of ordinary shares | ¥ | ¥ 1,657,793 | ¥ 18 | ||||||||||||
Conversion of preferred shares into ordinary shares | ¥ | 4,999,811 | |||||||||||||
Ending balance | 1,692,545 | (1,778,331) | $ 259,393 | ¥ (1,064,046) | ¥ (622,186) | |||||||||
Nominal value of ordinary shares | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Issuance of ordinary shares | 11 | $ 2 | 18 | $ 3 | ||||||||||
Repurchase of ordinary shares | ¥ | (1) | |||||||||||||
Conversion of preferred shares into ordinary shares | 31 | $ 4 | ||||||||||||
Ending balance | 59 | ¥ 17 | $ 9 | ¥ 17 | $ 3 | $ 3 | ||||||||
Share premium | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Issuance of ordinary shares | ¥ | 1,657,782 | |||||||||||||
Conversion of preferred shares into ordinary shares | ¥ | 4,999,780 | |||||||||||||
Ending balance | ¥ | ¥ 6,657,562 | |||||||||||||
Ordinary shares | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Share repurchase | (2) | (2) | ||||||||||||
Share sub-division | 4 | 4 | ||||||||||||
Issuance of ordinary shares | 149,749,995 | 80,000,000 | 80,000,000 | 149,749,995 | 149,749,995 | |||||||||
Repurchase of ordinary shares | 8,272,000 | (8,272,000) | (8,272,000) | |||||||||||
Conversion of preferred shares into ordinary shares | 220,332,100 | 220,332,100 | ||||||||||||
Conversion of preferred shares into ordinary shares | $ | $ 4 | |||||||||||||
Ending balance | 5 | 441,810,100 | 141,478,000 | 441,810,100 | 141,478,000 | 141,478,000 | 141,478,000 | 3 | 3 | 3 | ||||
Incorporation | Ordinary shares | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Ending balance | 3 |
Share capital and share premi_5
Share capital and share premium - Summary of Share Capital Authorized And Issued (Parenthetical) (Detail) | Jun. 19, 2020shares | Nov. 30, 2019CNY (¥)shares | Nov. 30, 2019USD ($)shares | Jul. 02, 2019$ / sharesshares | Feb. 29, 2020USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Jan. 01, 2020USD ($)shares | Jan. 01, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Apr. 09, 2018USD ($)$ / sharesshares | Dec. 31, 2017shares |
Disclosure of classes of share capital [line items] | ||||||||||||
Shares outstanding | 456,707,000 | 123,584,000 | 119,812,000 | 107,768,000 | ||||||||
Conversion of preferred shares into ordinary shares | 220,332,100 | |||||||||||
Issued capital | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Purchase of ordinary shares | ¥ 1,000 | $ 165 | ||||||||||
Capital and other reserves | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Purchase of ordinary shares | 57,438,000 | $ 8,160,000 | ||||||||||
Capital reserve | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Purchase of ordinary shares | ¥ | 35,174,000 | |||||||||||
Other reserves | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Purchase of ordinary shares | ¥ | ¥ 22,264,000 | |||||||||||
Ordinary shares | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Shares of common stock authorized value | $ | $ 50,000 | $ 46,000 | $ 46,000 | $ 50,000 | $ 50,000 | $ 50,000 | ||||||
Number of shares authorized | 2,500,000,000 | 2,286,497,400 | 2,286,497,400 | 500,000,000 | 500,000,000 | 500,000,000 | ||||||
Par or stated value per share | $ / shares | $ 0.0001 | |||||||||||
Number of shares issued | 5 | 441,810,100 | 141,478,000 | 141,478,000 | 3 | 3 | 3 | |||||
Repurchase of share one | (2) | |||||||||||
Re-designation upon issuance of then preferred shares at share conversion | (171,083,000) | |||||||||||
Shares outstanding | 149,750,000 | |||||||||||
Stock shares issued during the period shares | 149,749,995 | 80,000,000 | 149,749,995 | |||||||||
Stock repurchased during the period shares | 8,272,000 | 8,272,000 | (8,272,000) | |||||||||
Ordinary shares | IPO | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Stock shares issued during the period shares | 80,000,000 | |||||||||||
Ordinary shares | Revision in authorized capital | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Number of shares authorized | 2,500,000,000 | |||||||||||
Par or stated value per share | $ / shares | $ 0.00002 | |||||||||||
Number of shares issued | 5 | |||||||||||
Repurchase of share one | 2 | |||||||||||
Preference shares | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Shares of common stock authorized value | $ | $ 4,000 | $ 4,000 | ||||||||||
Number of shares authorized | 213,502,600 | 213,502,600 | ||||||||||
Par or stated value per share | $ / shares | $ 0.00002 | |||||||||||
Re-designation upon issuance of then preferred shares at share conversion | 171,083,000 | 171,083,000 | ||||||||||
Stock shares issued during the period shares | 15,205,000 | |||||||||||
Stock repurchased during the period shares | 6,933,000 | 6,933,000 | (6,933,000) | |||||||||
Preference shares | Before reorganisation | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Shares outstanding | 34,216,600 | |||||||||||
Series C two preferred shares | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Stock shares issued during the period shares | 15,205,000 | 15,205,000 | 6,829,500 | |||||||||
Proceeds from issuance of preferred shares | $ | $ 15,000,000 | $ 10,000,000 | ||||||||||
Series D preferred shares | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Stock shares issued during the period shares | 34,147,600 | 34,147,600 | ||||||||||
Proceeds from issuance of preferred shares | $ | $ 50,000,000 | |||||||||||
ADS | IPO | ||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||
Stock shares issued during the period shares | 16,000,000 |
Treasury shares - Additional In
Treasury shares - Additional Information (Detail) - shares | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 02, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statements [Line Items] | ||||||
Number of shares outstanding | 456,707,000 | 123,584,000 | 119,812,000 | 107,768,000 | ||
Ordinary shares | ||||||
Statements [Line Items] | ||||||
Number of shares outstanding | 149,750,000 | |||||
Treasury shares | ||||||
Statements [Line Items] | ||||||
Number of shares outstanding | 17,894,000 | |||||
Founders | Ordinary shares | ||||||
Statements [Line Items] | ||||||
Number of shares in entity held | 93,506,000 |
Reserves - Additional Informati
Reserves - Additional Information (Detail) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Aug. 28, 2017CNY (¥)shares | |
Disclosure of classes of share capital [line items] | ||||
Percentage of net profit after offsetting any prior year losses and transfer to the statutory surplus reserve fund | 10.00% | |||
Percentage of Statutory reserves balance not exceeds of the company's registered capital | 50.00% | |||
Capital reserve | ¥ 0 | $ 0 | ¥ 0 | |
Founders | ||||
Disclosure of classes of share capital [line items] | ||||
Capital reserve | ¥ | ¥ 2,173,600 | |||
Ordinary shares | Founders | ||||
Disclosure of classes of share capital [line items] | ||||
Number of shares issued and fully paid | shares | 2,173,600 |
Share-based payment - Additiona
Share-based payment - Additional Information (Detail) ¥ / shares in Units, ¥ in Millions | Jul. 17, 2015yr¥ / sharesshares | Jul. 31, 2019shares | Oct. 31, 2017¥ / sharesshares | Dec. 31, 2019sharesyr$ / shares | Jun. 30, 2019yr¥ / shares | Dec. 31, 2020CNY (¥)sharesyr¥ / shares | Dec. 31, 2020CNY (¥)sharesyr¥ / shares$ / shares | Dec. 31, 2019shares | Dec. 31, 2018sharesyr¥ / shares | Dec. 31, 2017sharesyr¥ / shares | Jan. 01, 2020shares | Jul. 02, 2019shares | Jan. 01, 2019shares | Apr. 09, 2018$ / sharesshares | May 07, 2015¥ / sharesshares |
Statements [Line Items] | |||||||||||||||
Weighted average remaining contractual life of outstanding share options | 7 years 3 months 18 days | 7 years 3 months 18 days | 8 years | ||||||||||||
Exercise price, share options granted | $ / shares | $ 0.03 | ||||||||||||||
Risk free interest rate, share options granted | 1.69% | 2.09% | 2.94% | 2.51% | |||||||||||
Expected volatility, share options granted | 48.80% | 50.20% | 53.48% | 55.08% | |||||||||||
Option life, share options granted | yr | 10 | 10 | 10 | 10 | 10 | 10 | |||||||||
Expected dividend as percentage, share options granted | |||||||||||||||
Exercise price of outstanding share options | ¥ / shares | ¥ 1 | ||||||||||||||
Number of service condition shares option granted to employees from the grant date | 4 years | 4 years | |||||||||||||
Percentage of shares option granted on the grant date | 25.00% | 25.00% | |||||||||||||
Number of shares option granted expiry from the grant date | 10 years | 10 years | |||||||||||||
Number of share options outstanding in share-based payment arrangement | 23,481,970 | 26,216,268 | 26,216,268 | 23,481,970 | 4,578,933 | 1,624,456 | |||||||||
Number of shares outstanding | 123,584,000 | 456,707,000 | 456,707,000 | 123,584,000 | 119,812,000 | 107,768,000 | |||||||||
Two Thousand Nineteen share incentive Scheme | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Number of shares issued | 20,830,100 | ||||||||||||||
Ordinary shares | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Par value per share | $ / shares | $ 0.0001 | ||||||||||||||
Number of shares issued | 141,478,000 | 441,810,100 | 441,810,100 | 141,478,000 | 3 | 141,478,000 | 5 | 3 | 3 | ||||||
Number of shares outstanding | 149,750,000 | ||||||||||||||
Ordinary shares | Two Thousand Nineteen share incentive Scheme | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Number of shares outstanding | 22,555,620 | 22,555,620 | |||||||||||||
Ordinary shares | Two Thousand Nineteen share incentive Plan | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Number of shares issued | 33,961,500 | ||||||||||||||
Bottom of range | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Exercise price, share options granted | $ / shares | $ 0.03 | ||||||||||||||
Risk free interest rate, share options granted | 0.64% | 0.64% | |||||||||||||
Expected volatility, share options granted | 54.90% | 54.90% | |||||||||||||
Top of range | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Exercise price, share options granted | $ / shares | $ 0.99 | ||||||||||||||
Risk free interest rate, share options granted | 0.67% | 0.67% | |||||||||||||
Expected volatility, share options granted | 55.10% | 55.10% | |||||||||||||
Genetron Health | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Exercise price, share options granted | ¥ / shares | ¥ 1 | ¥ 1 | ¥ 1 | ||||||||||||
Genetron Health | Two Thousand Nineteen share incentive Plan | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Stock issued during period, shares, stock splits | 33,961,500 | ||||||||||||||
Number of share options outstanding in share-based payment arrangement | 6,792,300 | 6,792,300 | |||||||||||||
Founders | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Par value per share | ¥ / shares | ¥ 1 | $ 1 | |||||||||||||
Number of shares issued | 2,173,600 | 2,173,600 | |||||||||||||
Percentage of total number of ordinary shares and preferred shares outstanding | 5.00% | 5.00% | |||||||||||||
Exercise price, share options granted | ¥ / shares | ¥ 1.79 | ||||||||||||||
Risk free interest rate, share options granted | 0.51% | 0.51% | |||||||||||||
Expected volatility, share options granted | 55.80% | 55.80% | |||||||||||||
Option life, share options granted | yr | 1.5 | 1.5 | |||||||||||||
Expected dividend as percentage, share options granted | 0.00% | 0.00% | |||||||||||||
Founders | Restriction of ordinary shares | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Par value per share | ¥ / shares | ¥ 1 | ||||||||||||||
Weighted average remaining contractual life of outstanding share options | 5 years | ||||||||||||||
Number of shares issued | 16,527,600 | 16,527,600 | |||||||||||||
Exercise price, share options granted | ¥ / shares | ¥ 3.12 | ||||||||||||||
Risk free interest rate, share options granted | 1.70% | ||||||||||||||
Expected volatility, share options granted | 50.00% | ||||||||||||||
Option life, share options granted | yr | 5 | ||||||||||||||
Expected dividend as percentage, share options granted | 0.00% | ||||||||||||||
Founders | Genetron Health | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Par value per share | ¥ / shares | ¥ 1 | $ 1 | |||||||||||||
Appraised value stock | ¥ | ¥ 590 | $ 590 | |||||||||||||
Weighted average remaining contractual life of outstanding share options | 5 years | 5 years | 5 years | ||||||||||||
Number of restricted shares vested | 2,540,650 | ||||||||||||||
Founders | Genetron Health | Bottom of range | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Percentage of total shares outstanding | 3.00% | 3.00% | |||||||||||||
Founders | Genetron Health | Top of range | |||||||||||||||
Statements [Line Items] | |||||||||||||||
Percentage of total shares outstanding | 5.00% | 5.00% |
Share-based payment - Summary o
Share-based payment - Summary of Movements of Employee Share Options During The Reported Period (Detail) | 12 Months Ended | ||||
Dec. 31, 2020shares$ / shares | Dec. 31, 2019shares¥ / shares | Dec. 31, 2019shares$ / shares | Dec. 31, 2018shares¥ / shares | Jan. 01, 2019shares | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |||||
Outstanding at beginning of the year | (per share) | $ 0.03 | ¥ 1 | ¥ 1 | ||
Granted during the year | (per share) | 0.88 | 1 | 1 | ||
Forfeited before Reorganization | ¥ / shares | ¥ 1 | 1 | |||
Share sub-division upon Reorganization | $ / shares | $ 0.03 | ||||
Forfeited after Reorganization | $ / shares | 0.03 | 0.03 | |||
Outstanding at end of the year | (per share) | 0.13 | $ 0.03 | ¥ 1 | ||
Exercisable at end of the year | $ / shares | $ 0.03 | ||||
Outstanding at beginning of the year | 23,481,970 | 4,578,933 | 4,578,933 | 1,624,456 | |
Granted during the year | 3,035,000 | 713,840 | 713,840 | 3,205,000 | |
Forfeited before Reorganization | (47,507) | (47,507) | (250,523) | ||
Share sub-division upon Reorganization | 18,321,704 | ||||
Forfeited after Reorganization | (300,702) | (85,000) | (85,000) | ||
Outstanding at end of the year | 26,216,268 | 23,481,970 | 23,481,970 | 4,578,933 | |
Exercisable at end of the year | 14,897,089 |
Share-based payment - Summary_2
Share-based payment - Summary of Binominal Option-Pricing Model To Determine The Fair Value of Options At Each of The Grant Dates (Detail) | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2019yr$ / shares | Jun. 30, 2019yr¥ / shares | Dec. 31, 2020yr$ / shares | Dec. 31, 2018yr¥ / shares | Dec. 31, 2017yr¥ / shares | |
Statements [Line Items] | |||||
Fair values at grant date | $ 1.25 | ||||
Exercise prices | $ 0.03 | ||||
Risk-free interest rates | 1.69% | 2.09% | 2.94% | 2.51% | |
Dividend yield | |||||
Expected volatilities | 48.80% | 50.20% | 53.48% | 55.08% | |
Expected term | yr | 10 | 10 | 10 | 10 | 10 |
Bottom of range | |||||
Statements [Line Items] | |||||
Fair values at grant date | $ 1.76 | ||||
Exercise prices | $ 0.03 | ||||
Risk-free interest rates | 0.64% | ||||
Expected volatilities | 54.90% | ||||
Top of range | |||||
Statements [Line Items] | |||||
Fair values at grant date | $ 2.38 | ||||
Exercise prices | $ 0.99 | ||||
Risk-free interest rates | 0.67% | ||||
Expected volatilities | 55.10% | ||||
Genetron health | |||||
Statements [Line Items] | |||||
Fair values at grant date | ¥ / shares | ¥ 36.32 | ¥ 28.19 | ¥ 10.83 | ||
Exercise prices | ¥ / shares | ¥ 1 | ¥ 1 | ¥ 1 |
Share-based payment - Summary_3
Share-based payment - Summary of Binominal Option-Pricing Model To Determine The Fair Value of Options At Each of The Grant Dates (Parenthetical) (Detail) - 1 months ended Jul. 31, 2019 | ¥ / shares | $ / shares |
Genetron Health | ||
Statements [Line Items] | ||
Weighted average share price | (per share) | ¥ 1 | $ 0.03 |
Share-based payment - Summary_4
Share-based payment - Summary of The Movement of The Restricted Shares (Detail) - Restriction of ordinary shares | 12 Months Ended | ||
Dec. 31, 2020shares | Dec. 31, 2019shares | Dec. 31, 2018shares | |
Statements [Line Items] | |||
Outstanding, beginning of year | 7,024,000 | 3,813,000 | 6,222,000 |
Vested and released | (7,024,000) | (2,409,000) | |
Vested and released before Reorganization | (1,204,000) | ||
Vested and released after Reorganization | (6,024,000) | ||
Share sub-division upon Reorganization | 10,439,000 | ||
Outstanding, end of year | 7,024,000 | 3,813,000 |
Share-based payment - Summary_5
Share-based payment - Summary of Share-based Compensation Expenses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statements [Line Items] | |||
Expense from share-based payment transactions with employees | ¥ 29,951 | ¥ 35,884 | ¥ 29,644 |
Cost of revenue | |||
Statements [Line Items] | |||
Expense from share-based payment transactions with employees | 300 | 446 | 234 |
selling expenses | |||
Statements [Line Items] | |||
Expense from share-based payment transactions with employees | 3,906 | 2,720 | 1,186 |
Administrative expenses | |||
Statements [Line Items] | |||
Expense from share-based payment transactions with employees | 15,013 | 25,940 | 22,259 |
Research and development expenses | |||
Statements [Line Items] | |||
Expense from share-based payment transactions with employees | ¥ 10,732 | ¥ 6,778 | ¥ 5,965 |
Borrowings - Summary of Borrowi
Borrowings - Summary of Borrowing (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) |
Disclosure of detailed information about borrowings [line items] | |||
Other borrowings (Note (i)) | ¥ 5,493 | $ 842 | ¥ 3,643 |
Bank borrowings (Note (ii)) | 50,000 | 5,000 | |
Current portion of other borrowings (Note (i)) | 8,583 | 14,514 | |
Current borrowings and current portion of non-current borrowings | 58,583 | $ 8,978 | 19,514 |
Total | ¥ 64,076 | ¥ 23,157 |
Borrowings - Summary of Details
Borrowings - Summary of Details Information Sale and Lease Back Agreements with Independent Parties (Detail) ¥ in Thousands | 12 Months Ended |
Dec. 31, 2020CNY (¥) | |
Transaction as on March 2019 | |
Disclosure of sale and leaseback agreements with independent parties information [Line Items] | |
Term | 2 year |
Consideration | ¥ 25,000 |
Transaction as on June 2019 | |
Disclosure of sale and leaseback agreements with independent parties information [Line Items] | |
Term | 3 year |
Consideration | ¥ 6,960 |
Transaction as on July 2020 | |
Disclosure of sale and leaseback agreements with independent parties information [Line Items] | |
Term | 2 year |
Consideration | ¥ 12,800 |
Borrowings - Summary of Informa
Borrowings - Summary of Information about Group Obtained Loan Facilities (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Transaction as on June 2019 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Facility term | 3 year | |
Mr. Sizhen Wang | Transaction as on June 2019 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Facility term | 2 year | |
Facility amount | ¥ 5,000 | |
Loan amount drawn | ¥ 5,000 | |
Interest rate (per annum) | 5.00% | |
Mr. Sizhen Wang | Transaction as on March 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Facility term | 1 year | |
Facility amount | ¥ 10,000 | |
Loan amount drawn | ¥ 10,000 | |
Interest rate (per annum) | 3.70% | |
Mr. Sizhen Wang | Transaction as on March 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Facility term | 1 year | |
Facility amount | ¥ 30,000 | |
Loan amount drawn | ¥ 30,000 | |
Interest rate (per annum) | 2.00% | |
Mr. Sizhen Wang | Transaction as on May 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Facility term | 2 year | |
Facility amount | ¥ 25,000 | |
Loan amount drawn | ¥ 10,000 | |
Interest rate (per annum) | 3.50% | |
Mr. Sizhen Wang | Bottom of range [member] | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Interest rate (per annum) | 0.00% | |
Mr. Sizhen Wang | Bottom of range [member] | Transaction as on June 2019 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | June 2019 | |
Mr. Sizhen Wang | Bottom of range [member] | Transaction as on March 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | March 2020 | |
Mr. Sizhen Wang | Bottom of range [member] | Transaction as on March 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | March 2020 | |
Mr. Sizhen Wang | Bottom of range [member] | Transaction as on May 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | October 2020 | |
Mr. Sizhen Wang | Top of range [member] | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Interest rate (per annum) | 4.35% | |
Mr. Sizhen Wang | Top of range [member] | Transaction as on June 2019 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | June 2020 | |
Mr. Sizhen Wang | Top of range [member] | Transaction as on March 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | March 2021 | |
Mr. Sizhen Wang | Top of range [member] | Transaction as on March 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | March 2021 | |
Mr. Sizhen Wang | Top of range [member] | Transaction as on May 2020 | ||
Disclosure of group obtained loan facilities [Line Items] | ||
Loan period | October 2021 |
Borrowings - Additional informa
Borrowings - Additional information (Detail) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Bottom of range [member] | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 0.00% | |
Top of range [member] | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 4.35% | |
Transaction as on June 2019 | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 5.00% | |
Transaction as on May 2020 | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 3.50% | |
Transaction as on March 2020 | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing facility fee | ¥ 130,000 | |
Transaction as on March 2020 | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 3.70% | |
Genetron Health | Bottom of range [member] | People's Bank of China | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 6.00% | |
Genetron Health | Top of range [member] | People's Bank of China | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 8.00% | |
Genetron Health | Transaction as on June 2019 | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Minimum pledged receivables required | ¥ 10,000,000 | |
Borrowing facility fee | 110,000 | |
Genetron Health | Transaction as on May 2020 | ||
Disclosure of detailed information about borrowings [line items] | ||
Net book value of receivables pledged | 29,000,000 | |
Genetron Health | Transaction as on May 2020 | Mr. Sizhen Wang | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowing facility fee | 138,000 | |
Genetron Health | Transaction as on May 2020 | Top of range [member] | Patent technology | ||
Disclosure of detailed information about borrowings [line items] | ||
Minimum pledged receivables required | ¥ 20,000,000 |
Other payables and accruals - S
Other payables and accruals - Summary of Other Payables and Accruals (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other payables and accruals [Abstract] | ||
Payroll and welfare payables | ¥ 30,625 | ¥ 19,205 |
Accrued professional service fees and listing expenses | 10,437 | 27,375 |
Accrued taxes other than income tax | 1,668 | 4,633 |
Amount due to an investor (Note) | 15,000 | |
Payable to investors for shares repurchase | 3,283 | 3,539 |
Leaver provisions related to restricted shares (Note 27(b)) | 3,578 | |
Deferred income from ADS depository | 19,766 | |
Others | 45,385 | 36,353 |
Total | ¥ 111,164 | ¥ 109,683 |
Other payables and accruals - A
Other payables and accruals - Additional Information (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | |
Disclosure of other payables and accruals [Abstract] | |||
Value of investment converted to preferred stock | ¥ 299 | ¥ 15 | |
Deferred Income Amortization Period | 5 years | 5 years | |
Proceeds From Deposit Fee | ¥ 23 | $ 3.4 |
Financial instruments with pr_3
Financial instruments with preferred rights - Summary of Financial Instruments with Preferred Rights Reorganization (Detail) ¥ in Thousands, shares in Thousands | 12 Months Ended |
Dec. 31, 2020CNY (¥)shares | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Number of Preferred Shares of the Company | 220,332 |
July 17, 2015 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series A-1 |
Number of Preferred Shares of the Company | 39,200 |
Subscription/ (repurchase) consideration | ¥ | ¥ 70,000 |
August 6, 2015 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series A-1 |
Number of Preferred Shares of the Company | 8,400 |
Subscription/ (repurchase) consideration | ¥ | ¥ 15,000 |
September 24, 2015 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series A-2 |
Number of Preferred Shares of the Company | 19,760 |
Subscription/ (repurchase) consideration | ¥ | ¥ 50,000 |
September 18, 2016 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series B |
Number of Preferred Shares of the Company | 25,358 |
Subscription/ (repurchase) consideration | ¥ | ¥ 100,000 |
November 2, 2016 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series B |
Number of Preferred Shares of the Company | 18,005 |
Subscription/ (repurchase) consideration | ¥ | ¥ 71,000 |
October 10, 2017 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series C |
Number of Preferred Shares of the Company | 51,525 |
Subscription/ (repurchase) consideration | ¥ | ¥ 350,000 |
December 29, 2017 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series C |
Number of Preferred Shares of the Company | 8,835 |
Subscription/ (repurchase) consideration | ¥ | ¥ 60,000 |
November 18, 2019 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series A-1, A-2, B |
Number of Preferred Shares of the Company | (6,933) |
Subscription/ (repurchase) consideration | ¥ | ¥ (48,105) |
November 19, 2019 C2 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series C-2 |
Number of Preferred Shares of the Company | 15,205 |
Subscription/ (repurchase) consideration | ¥ | ¥ 105,325 |
November 19, 2019 D | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series D |
Number of Preferred Shares of the Company | 34,148 |
Subscription/ (repurchase) consideration | ¥ | ¥ 351,243 |
February 19, 2020 | |
Disclosure of financial instruments with preferred rights reorganization [Line Items] | |
Round | Series D-2 |
Number of Preferred Shares of the Company | 6,829 |
Subscription/ (repurchase) consideration | ¥ | ¥ 70,026 |
Financial instruments with pr_4
Financial instruments with preferred rights - Summary of Movements of Financial Instruments with Preferred Rights (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Financial instruments [Abstract] | ||||
Beginning Balance | ¥ 2,106,334 | ¥ 1,320,712 | ¥ 1,018,019 | |
Issuance of Series C preferred shares | 60,000 | |||
Repurchase of Series A-1, A-2, B preferred shares | (48,105) | |||
Issuance of Series C-2 preferred shares | 105,325 | |||
Issuance of Series D preferred shares | 351,243 | |||
Issuance of Series D Two Preferred Shares | 70,026 | |||
Changes in fair value recognized in profit or loss | 2,823,370 | $ 432,700 | 333,401 | 233,632 |
Changes in fair value due to own credit risk recognized in OCI | (72) | $ (11) | (17,299) | (9,061) |
Conversion into ordinary shares | (4,999,811) | |||
Other loss | 9 | 26,542 | ||
Exchange differences | (83) | |||
Ending balance | ¥ 0 | ¥ 2,106,334 | ¥ 1,320,712 |
Financial instruments with pr_5
Financial instruments with preferred rights - Additional Information (Detail) ¥ in Thousands | 12 Months Ended |
Dec. 31, 2020CNY (¥) | |
Financial instruments [Abstract] | |
Transfer of accumulated fair value change due to own credit risk of financial instruments with preferred rights upon conversion | ¥ 27,355 |
Cash flow information - Summary
Cash flow information - Summary of Reconciliation from Loss before Income Tax to Cash Used In Operations (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of reconciliation from cash flow operating activities [Abstract] | ||||
Profit (loss) | ¥ (3,069,043) | $ (470,351) | ¥ (676,034) | ¥ (464,993) |
Depreciation on property, plant and equipment | 33,466 | 30,458 | 26,752 | |
Depreciation on right-of-use assets | 18,277 | 14,784 | ||
Amortization on intangible assets | 1,452 | 1,344 | 1,106 | |
Provision for impairment of trade and other receivables and contract assets | 14,843 | 2,733 | 658 | |
Investment income from wealth management products | (4,652) | (947) | (7,146) | |
Fair value loss – net on other financial assets at FVPL | 2,348 | |||
Gain on redemption of derivative financial instruments | (1,550) | |||
Gain on disposal of property, plant and equipment | (1,505) | |||
Amortization on deferred income of ADS depository | (2,405) | |||
Finance (income)/costs - net | 22,270 | 9,419 | 68 | |
Share-based compensation expenses | 29,951 | 35,884 | 29,644 | |
Losses related to financial instruments with preferred rights | 2,823,370 | 359,943 | 233,632 | |
Others | (110) | |||
Inventories | (7,075) | 3,719 | (8,846) | |
Contract assets | (50) | 1,234 | 444 | |
Other current assets | 7,211 | (6,687) | (11,689) | |
Trade receivables | (95,719) | (48,151) | (27,410) | |
Other receivables and prepayments | (22,894) | (33) | (4,468) | |
Amounts due from related parties | 850 | (634) | (3,674) | |
Trade payables | (9,073) | 26,633 | 2,938 | |
Contract liabilities | (9,772) | 9,322 | 5,468 | |
Other payables and accruals | 11,948 | 41,561 | 26,636 | |
Cash used in operations | ¥ (300,897) | $ (46,115) | ¥ (196,957) | ¥ (201,016) |
Cash flow information - Summa_2
Cash flow information - Summary of Reconciliation of Liabilities Arising From Financing Activities (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | ¥ 2,188,978 | ¥ 1,362,130 | ¥ 1,018,019 |
Cash received | 430,290 | 539,523 | 60,000 |
Cash repaid | (354,668) | (102,439) | |
Non-cash movements | (2,140,923) | 389,764 | 242,693 |
Ending balance | 123,677 | 2,188,978 | 1,362,130 |
Financial instruments with preferred rights | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 2,106,334 | 1,320,712 | 1,018,019 |
Cash received | 70,026 | 456,568 | 60,000 |
Cash repaid | (43,279) | ||
Non-cash movements | (2,176,360) | 372,333 | 242,693 |
Ending balance | 2,106,334 | 1,320,712 | |
Amount due to an investor | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 15,000 | ||
Cash received | 299,051 | 15,000 | |
Cash repaid | (314,388) | ||
Non-cash movements | 337 | ||
Ending balance | 15,000 | ||
Borrowings | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 23,157 | ||
Cash received | 61,213 | 32,955 | |
Cash repaid | (20,703) | (9,798) | |
Non-cash movements | 409 | ||
Ending balance | 64,076 | 23,157 | |
Loan From related party | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Cash received | 35,000 | ||
Cash repaid | (35,000) | ||
Lease liabilities | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 44,487 | 41,418 | |
Cash repaid | (19,577) | (14,362) | |
Non-cash movements | 34,691 | 17,431 | |
Ending balance | ¥ 59,601 | ¥ 44,487 | ¥ 41,418 |
Commitments - Summary of Capita
Commitments - Summary of Capital Commitments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Equipment and intangible assets | ||
Disclosure of capital commitments [line Items] | ||
Equipment and intangible assets - Contracted but not provided for | ¥ 14,578 | ¥ 1,790 |
Commitments - Summary of Future
Commitments - Summary of Future Minimum Lease Payables under Non-Cancellable Leases (Detail) - Office building - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
No later than 1 year | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payables | ¥ 300 | ¥ 615 |
Later than 1 year but no later than 3 years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payables | 0 | 15 |
Non-cancellable leases not recognized in the financial statements | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future minimum lease payables | ¥ 300 | ¥ 630 |
Commitments - Additional Inform
Commitments - Additional Information (Detail) - CNY (¥) | Dec. 31, 2020 | Dec. 31, 2019 |
Text Block [Abstract] | ||
Operating lease future undiscounted lease payments | ¥ 5,963,000 | ¥ 0 |
Related party transactions - Ad
Related party transactions - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Mr. Sizhen Wang | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | A director of the Group | |
Mr. Sizhen Wang | Bottom of range | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings, interest rate | 0.00% | |
Mr. Sizhen Wang | Top of range | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings, interest rate | 4.35% | |
Mr. Weiwu He | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | A director of the Group | |
Vcanbio Gene Technology Corp., Ltd. | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | An investor of the Group | |
Edigene (Beijing) Inc. | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | A director of this entity is also a director of the Company | |
Juventas Cell Therapy Ltd. | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | Certain directors of this entity are also directors of the Group | |
Borrowings, interest rate | 12.00% | |
TCRCure Biopharma (Beijing) Ltd. | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | Certain directors of this entity are also directors of the Group | |
TCRCure Biopharma (Chongqing) Ltd. | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | Certain directors of this entity are also directors of the Group | |
FHP Holdings Ltd. | ||
Disclosure of transactions between related parties [line items] | ||
Description of nature of related party relationship | An entity controlled by a director of the Company |
Related party transactions - Su
Related party transactions - Summary of Provision of services (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of provision of services with related party [Line Items] | |||
Provision of services | ¥ 1,521 | ¥ 1,659 | ¥ 1,333 |
Edigene (Beijing) Inc. | |||
Disclosure of provision of services with related party [Line Items] | |||
Provision of services | 623 | 1,071 | 97 |
Vcanbio Gene Technology Corp., Ltd. | |||
Disclosure of provision of services with related party [Line Items] | |||
Provision of services | ¥ 1,236 | ||
TCRCure Biopharma (Beijing) Ltd. | |||
Disclosure of provision of services with related party [Line Items] | |||
Provision of services | ¥ 588 | ||
TCRCure Biopharma (Chongqing) Ltd. | |||
Disclosure of provision of services with related party [Line Items] | |||
Provision of services | ¥ 898 |
Related party transactions - _2
Related party transactions - Summary of Loans to/from Related Parties (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||
Loans advanced | ¥ 5,000 | ¥ 43,550 | |
Loans advanced | 35,000 | ||
Loans repaid | (35,000) | ||
Mr. Sizhen Wang | |||
Disclosure of transactions between related parties [line items] | |||
Loans advanced | 5,000 | 43,550 | |
Loans repaid | (10,525) | (41,000) | |
Interest charged | 243 | 749 | |
Interests on lease liabilities | (992) | ||
Juventas Cell Therapy Ltd. | |||
Disclosure of transactions between related parties [line items] | |||
Loans advanced | 35,000 | ||
Loans repaid | (35,000) | ||
Interest charged | 1,192 | ||
Interests on lease liabilities | ¥ (1,192) |
Related party transactions - _3
Related party transactions - Summary of Balances with Related Parties (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of balance with related parties [Line Items] | ||
Trade receivables | ¥ 214 | ¥ 1,064 |
Edigene (Beijing) Inc. | ||
Disclosure of balance with related parties [Line Items] | ||
Trade receivables | 214 | 456 |
TCRCure Biopharma (Beijing) Ltd. | ||
Disclosure of balance with related parties [Line Items] | ||
Trade receivables | 608 | |
FHP Holdings Ltd. | ||
Disclosure of balance with related parties [Line Items] | ||
Other payables | ¥ 24 | ¥ 34 |
Related party transactions - _4
Related party transactions - Summary of Compensations Paid or Payable to Key Management for Employee Services (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [abstract] | |||
Salaries and other short-term employee benefits | ¥ 8,112 | ¥ 5,034 | ¥ 5,250 |
Contributions to pension plans | 107 | 125 | 50 |
Share-based compensation expenses | 15,679 | 17,454 | 19,952 |
Key management compensation | ¥ 23,898 | ¥ 22,613 | ¥ 25,252 |
Restricted net assets and par_3
Restricted net assets and parent company only condensed financial information - Schedule of Condensed Balance Sheets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Non-current assets | ||||||
Total non-current assets | ¥ 183,833 | $ 28,173 | ¥ 144,356 | |||
Current assets | ||||||
Other receivables and prepayments | 42,420 | 6,501 | 19,526 | |||
Amounts due from related parties | 214 | 33 | 1,064 | |||
Financial assets at fair value through profit or loss | 140,294 | 21,501 | 122,224 | |||
Derivative financial instruments | 196 | 30 | ||||
Cash and cash equivalents | 1,375,766 | 210,845 | 139,954 | $ 21,449 | ¥ 62,126 | ¥ 42,030 |
Total current assets | 1,786,065 | 273,726 | 429,152 | |||
Total assets | 1,969,898 | 301,899 | 573,508 | |||
Non-current liabilities | ||||||
Financial instruments with preferred rights | 2,106,334 | |||||
Total non-current liabilities | 48,509 | 7,434 | 2,139,101 | |||
Current liabilities | ||||||
Total current liabilities | 228,844 | 35,072 | 212,738 | |||
Total liabilities | 277,353 | 42,506 | 2,351,839 | |||
Net (liabilities)/assets | 1,692,545 | 259,393 | (1,778,331) | |||
SHAREHOLDERS' (DEFICIT)/EQUITY | ||||||
Share capital | 59 | 9 | 17 | |||
Share premium | 6,657,562 | 1,020,316 | ||||
Treasury shares | (3,578) | |||||
Other reserves | (24,701) | (3,786) | 69,207 | |||
Accumulated losses | (4,940,375) | (757,146) | (1,843,977) | |||
Total shareholders' (deficit)/equity | 1,692,545 | 259,393 | (1,778,331) | ¥ (1,064,046) | ¥ (622,186) | |
Parent | ||||||
Non-current assets | ||||||
Interests in subsidiaries | 2,859,204 | 438,192 | 1,839,044 | |||
Prepayments | 4,172 | |||||
Total non-current assets | 2,859,204 | 438,192 | 1,843,216 | |||
Current assets | ||||||
Other receivables and prepayments | 12,116 | 1,857 | 645 | |||
Amounts due from related parties | 6,982 | 1,070 | 4,674 | |||
Financial assets at fair value through profit or loss | 31,953 | 4,897 | ||||
Derivative financial instruments | 196 | 30 | ||||
Cash and cash equivalents | 941,541 | 144,297 | 122,104 | $ 18,713 | ||
Total current assets | 992,788 | 152,151 | 127,423 | |||
Total assets | 3,851,992 | 590,343 | 1,970,639 | |||
Non-current liabilities | ||||||
Financial instruments with preferred rights | 2,106,334 | |||||
Total non-current liabilities | 2,106,334 | |||||
Current liabilities | ||||||
Other payables and accruals | 27,838 | 4,266 | 26,492 | |||
Amounts due to related parties | 557 | 86 | 564 | |||
Total current liabilities | 28,395 | 4,352 | 27,056 | |||
Total liabilities | 28,395 | 4,352 | 2,133,390 | |||
Net (liabilities)/assets | 3,823,597 | 585,991 | (162,751) | |||
SHAREHOLDERS' (DEFICIT)/EQUITY | ||||||
Share capital | 59 | 9 | 17 | |||
Share premium | 6,657,562 | 1,020,316 | ||||
Treasury shares | (3,578) | |||||
Other reserves | 279,479 | 42,831 | 100,723 | |||
Accumulated losses | (3,113,503) | (477,165) | (259,913) | |||
Total shareholders' (deficit)/equity | ¥ 3,823,597 | $ 585,991 | ¥ (162,751) |
Restricted net assets and par_4
Restricted net assets and parent company only condensed financial information - Schedule of Condensed Income Statements (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Condensed Income Statements Captions [LineItems] | ||||
Administrative expenses | ¥ (126,318) | $ (19,359) | ¥ (117,169) | ¥ (88,233) |
Other income and gains - net | 8,526 | 1,307 | 13,297 | 17,074 |
Finance costs | (5,627) | (862) | (11,704) | |
- loss on fair value changes | (2,823,370) | (432,700) | (333,401) | (233,632) |
- other loss | (26,542) | |||
Loss before income tax | (3,069,043) | (470,351) | (676,034) | (464,993) |
Loss for the year | (3,069,043) | (470,351) | (676,034) | ¥ (464,993) |
Parent | ||||
Condensed Income Statements Captions [LineItems] | ||||
Administrative expenses | (19,480) | (2,986) | (18,199) | |
Other income and gains - net | 833 | 128 | ||
Finance costs | (1,230) | (189) | (6,303) | |
- loss on fair value changes | (2,823,370) | (432,700) | (208,869) | |
- other loss | (26,542) | |||
Loss before income tax | (2,843,247) | (435,747) | (259,913) | |
Loss for the year | ¥ (2,843,247) | $ (435,747) | ¥ (259,913) |
Restricted net assets and par_5
Restricted net assets and parent company only condensed financial information - Schedule of Condensed Cash Flow Statements (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Cash flows from operating activities | ||||
Cash used in operations | ¥ (300,897) | $ (46,115) | ¥ (196,957) | ¥ (201,016) |
Net cash used in operating activities | (300,897) | (46,115) | (196,957) | (201,016) |
Cash flows from investing activities | ||||
Purchase of wealth management products | (1,628,558) | (249,587) | (479,100) | (895,140) |
Purchase of equity security | (13,721) | (2,103) | ||
Purchase of derivative financial instruments | (68,078) | (10,433) | ||
Redemption of derivative financial instruments | 69,628 | 10,671 | ||
Others | (294) | (45) | ||
Net cash generated from/(used in) investing activities | (84,649) | (12,973) | (96,807) | 171,489 |
Cash flows from financing activities | ||||
Proceeds from issuance of ordinary shares | 1,676,816 | 256,983 | 18 | |
Repurchase of ordinary shares | (4,102) | (629) | (54,479) | |
Proceeds from investors upon reorganization | 299,051 | 45,832 | 15,000 | |
Payments in relation to listing expenses | (21,691) | (3,324) | (1,269) | |
Net cash generated from financing activities | 1,744,512 | 267,358 | 371,731 | 49,400 |
Net increase (decrease) in cash and cash equivalents | 1,358,966 | 208,270 | 77,967 | 19,873 |
Cash and cash equivalents at beginning of year | 139,954 | 21,449 | 62,126 | 42,030 |
Exchange differences of cash and cash equivalents | (123,154) | (18,874) | (139) | 223 |
Cash and cash equivalents at end of year | 1,375,766 | 210,845 | 139,954 | ¥ 62,126 |
Parent | ||||
Cash flows from operating activities | ||||
Cash used in operations | (36,241) | (5,554) | (10,805) | |
Net cash used in operating activities | (36,241) | (5,554) | (10,805) | |
Cash flows from investing activities | ||||
Investment in subsidiaries | (1,006,010) | (154,178) | (231,062) | |
Purchase of wealth management products | (21,858) | (3,350) | ||
Purchase of equity security | (13,721) | (2,103) | ||
Purchase of derivative financial instruments | (68,078) | (10,433) | ||
Redemption of derivative financial instruments | 69,628 | 10,671 | ||
Others | (294) | (45) | ||
Net cash generated from/(used in) investing activities | (1,040,333) | (159,438) | (231,062) | |
Cash flows from financing activities | ||||
Proceeds from issuance of ordinary shares | 1,676,816 | 256,983 | 18 | |
Proceeds from ADS depository | 23,069 | 3,535 | ||
Proceeds from issuance of financial instruments with preferred rights | 70,026 | 10,732 | 456,568 | |
Issuance costs of financial instruments with preferred rights | (6,303) | |||
Repurchase of ordinary shares | (4,102) | (629) | (54,479) | |
Repurchase of financial instruments with preferred rights | (43,279) | |||
Proceeds from investors upon reorganization | 299,051 | 45,832 | 15,000 | |
Payments in relation to listing expenses | (21,691) | (3,324) | (1,081) | |
Net cash generated from financing activities | 2,043,169 | 313,129 | 366,444 | |
Net increase (decrease) in cash and cash equivalents | 966,595 | 148,137 | 124,577 | |
Cash and cash equivalents at beginning of year | 122,104 | 18,713 | ||
Exchange differences of cash and cash equivalents | (147,158) | (22,553) | (2,473) | |
Cash and cash equivalents at end of year | ¥ 941,541 | $ 144,297 | ¥ 122,104 |
Restricted net assets and par_6
Restricted net assets and parent company only condensed financial information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Additional information [abstract] | |
Percentage of net profit after offsetting any prior year losses and transfer to the statutory surplus reserve fund | 10.00% |
Percentage of Statutory reserves balance not exceeds of the company's registered capital | 50.00% |