Summary
BeiGene, Ltd. (ONC) has filed its 2024 Interim Report for the six months ended June 30, 2024, with the Shanghai Stock Exchange's STAR Market. This report, prepared according to PRC accounting standards, provides additional financial details and is available in Chinese on the Shanghai Stock Exchange website. Crucially, the filing includes Exhibit 99.1, which details research and development expenses allocated by key products and other R&D projects for the reporting period under U.S. GAAP, along with a summary of material differences between PRC GAAP and U.S. GAAP. This exhibit is intended to furnish investors with a clearer understanding of R&D spending under the accounting standards most commonly used for reporting in the U.S.
Key Highlights
- 1BeiGene filed its 2024 Interim Report for the six months ended June 30, 2024, with the Shanghai Stock Exchange's STAR Market.
- 2The report is prepared in accordance with China Accounting Standards for Business Enterprises (CAS) and other PRC GAAP.
- 3Exhibit 99.1 provides R&D expenses broken down by key products and projects, prepared under U.S. GAAP.
- 4Exhibit 99.1 also includes a summary of material differences between PRC GAAP and U.S. GAAP.
- 5This information is intended to offer investors a U.S. GAAP perspective on R&D allocation.
- 6The full interim report is available in Chinese on the Shanghai Stock Exchange website (www.sse.com.cn).
Frequently Asked Questions
The primary purpose of this 8-K filing is to provide investors with additional financial information regarding BeiGene's 2024 Interim Report, specifically focusing on research and development expenses presented under U.S. GAAP, and to highlight the differences between PRC GAAP and U.S. GAAP for clarity.
The complete 2024 Interim Report is available in Chinese on the website of the Shanghai Stock Exchange at www.sse.com.cn.
This is to give investors a more direct view of research and development spending according to U.S. GAAP, which is a widely understood accounting standard for many investors, and to help reconcile any differences with the figures presented under PRC GAAP in the STAR Market filing.
No, the STAR Interim Report and its content on the Shanghai Stock Exchange website are not considered part of this U.S. SEC filing (Form 8-K) and are not incorporated by reference into any other SEC filings, except for the specific information in Exhibit 99.1 that is furnished herewith.