Adlai Nortye Ltd. Files 20-F Annual Report

Ticker: ANL · Form: 20-F · Filed: Apr 19, 2024 · CIK: 1944552

Sentiment: neutral

Topics: Adlai Nortye, 20-F, Annual Report, Pharmaceutical, SEC Filing

TL;DR

<b>Adlai Nortye Ltd. submitted its 2023 annual report on Form 20-F, detailing financial performance and corporate structure.</b>

AI Summary

Adlai Nortye Ltd. (ANL) filed a Foreign Annual Report (20-F) with the SEC on April 19, 2024. Adlai Nortye Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company's principal business address is located at 685 U.S. Highway One, 2nd Floor, North Brunswick, NJ 08902. The filing includes information on various subsidiaries, including Shanghai Adlai Nortye Biopharma Co. Ltd. and Hangzhou Adlai Nortye Biopharma Co. Ltd. Key financial data points such as revenue and net income are presented for the fiscal year 2023. The report details share incentive schemes and plans, with references to management and employee participation.

Why It Matters

For investors and stakeholders tracking Adlai Nortye Ltd., this filing contains several important signals. This filing provides investors with a comprehensive overview of Adlai Nortye's financial health, operational activities, and strategic initiatives for the fiscal year 2023. The 20-F filing is crucial for understanding the company's compliance with SEC regulations and its commitment to transparency for its shareholders.

Risk Assessment

Risk Level: medium — Adlai Nortye Ltd. shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to assess the company's performance and future prospects.

Financial Highlights

revenue
40440000
net Income
14560000

Key Numbers

Key Players & Entities

FAQ

When did Adlai Nortye Ltd. file this 20-F?

Adlai Nortye Ltd. filed this Foreign Annual Report (20-F) with the SEC on April 19, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Adlai Nortye Ltd. (ANL).

Where can I read the original 20-F filing from Adlai Nortye Ltd.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Adlai Nortye Ltd..

What are the key takeaways from Adlai Nortye Ltd.'s 20-F?

Adlai Nortye Ltd. filed this 20-F on April 19, 2024. Key takeaways: Adlai Nortye Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023.. The company's principal business address is located at 685 U.S. Highway One, 2nd Floor, North Brunswick, NJ 08902.. The filing includes information on various subsidiaries, including Shanghai Adlai Nortye Biopharma Co. Ltd. and Hangzhou Adlai Nortye Biopharma Co. Ltd..

Is Adlai Nortye Ltd. a risky investment based on this filing?

Based on this 20-F, Adlai Nortye Ltd. presents a moderate-risk profile. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code and the nature of its business.

What should investors do after reading Adlai Nortye Ltd.'s 20-F?

Investors should review the detailed financial statements and risk factors within the 20-F to assess the company's performance and future prospects. The overall sentiment from this filing is neutral.

Risk Factors

Filing Stats: 4,602 words · 18 min read · ~15 pages · Grade level 13.6 · Accepted 2024-04-19 16:08:47

Key Financial Figures

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents TABLE OF CONTENTS Page INTRODUCTION ii

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS iii PART I 1 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 ITEM 4. INFORMATION ON THE COMPANY 68 ITEM 4A. UNRESOLVED STAFF COMMENTS 127 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 128 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 139 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 148 ITEM 8. FINANCIAL INFORMATION 151 ITEM 9. THE OFFER AND LISTING 152 ITEM 10. ADDITIONAL INFORMATION 152 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 161 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 161 PART II 164 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 164 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 164 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 164 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 166 ITEM 16B. CODE OF ETHICS 166 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 166 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 166 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 166 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 167 ITEM 16G. CORPORATE GOVERNANCE 167 ITEM 16H. MINE SAFETY DISCLOSURE 167 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 167 ITEM 16J. INSIDER TRADING POLICIES 167 ITEM 16K. CYBERSECURITY 167 PART III 169 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 169 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 169 ITEM 19. EXHIBITS 169

SIGNATURES

SIGNATURES 171 i Table of Contents INTRODUCTION Unless otherwise indicated or the context otherwise requires, references in this annual report on Form 20-F to: "ADRs" are to the American depositary receipts that may evidence the ADSs; "ADSs" are to the American depositary shares, each of which represents our Class A ordinary shares; "BVI" are to the British Virgin Islands; "China" or the "PRC" or mainland China", unless otherwise specified herein, are to the People's Republic of China, excluding, for the purposes of this annual report only, Taiwan and the special administrative regions of Hong Kong and Macau; "Class A ordinary shares" are to our Class A ordinary shares, par value US$0.0001 per share; "Class B ordinary shares" are to our Class B ordinary shares, par value US$0.0001 per share; "Hangzhou Adlai" is to Adlai Nortye Biopharma Co., Ltd., our wholly foreign-owned enterprise incorporated in the PRC; "Hong Kong" is to Hong Kong Special Administrative Region of China; "Macau" is to Macau Special Administrative Region of China; "RMB" or "Renminbi" are to the legal currency of China; "shares" or "ordinary shares" are to our Class A ordinary shares and Class B ordinary shares; "US$," "U.S. dollars," "$," and "dollars" are to the legal currency of the United States; and "we," "us," "our company," and "our" are to Adlai Nortye Ltd., our Cayman Islands holding company and its subsidiaries, which include those in the U.S. and mainland China that conduct daily operations. ii Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report on Form 20-F contains statements of a forward-looking nature. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements are made under the "safe harbor" provision under Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and as defined in the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. In some cases, these forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. These forward-looking statements relate to, among others: our growth strategies; our future business development, results of operations and financial condition; trends in online consumer retailing; trends in Chinese manufacturing; the expected benefits of our acquisitions or investments; consumer and economic dynamics in the markets we serve; expected changes in our revenues and certain cost and expense items; and assumptions underlying or related to any of the foregoing. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. You should read these statements in conjunction with the risks disclosed in "Item 3. Key Information—D. Risk Factors" of this annual report and other risks outlined in our other filings with the Securities and Exchange Commission, or the SEC. Moreover, we operate in an emerging and evolving environment. New risks may emerge

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Our Organi zational Structure Adlai Nortye Ltd. is not a Chinese operating company, but is a Cayman Islands holding company. Our daily operations are conducted primarily through our operating subsidiaries in the United States and mainland China. The chart below sets forth our corporate structure and identifies our subsidiaries and their subsidiaries, as of the date of this annual report: Cash Transfers and Dividend Distributions As a holding company, we may rely on dividends from our subsidiaries for our cash requirements, including any payment of dividends to our shareholders. The ability of our subsidiaries to pay dividends to us, however, may be restricted by the debt they incur on their own behalf and/or laws and regulations applicable to them. Unless otherwise indicated or the context otherwise requires, "we," "us," "our company," and "our" refer to Adlai Nortye Ltd., our Cayman Islands holding company and its subsidiaries, which include those in the U.S. and mainland China that conduct daily operations. 1 Table of Contents We maintain our bank accounts and balances primarily in licensed banks in the United States, mainland China and Hong Kong. If needed, cash can be transferred between our Cayman Islands holding company and subsidiaries incorporated in the United States, mainland China and Hong Kong through equity investments and intercompany loans. Currently, there are no restrictions of transferring funds between our Cayman Islands holding company and subsidiaries in the United States and Hong Kong; however, currency exchange control measures imposed by the PRC government may restrict the ability of our subsidiaries in the PRC to transfer their cash to our Cayman Islands holding company and other subsidiaries incorporated outside the PRC through loans, advances or cash dividends. We may also make loans and additional capital contribution to our subsidiaries or branches, subject to certain restrictions under the applicable l

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