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Debt | 12 Months Ended
--- | ---
Dec. 31, 2024
Debt Disclosure [Abstract] |
Debt | Debt The following table summarizes the Company’s short-term and long-term debt obligations as of December 31, 2024 and 2023:
Lender |  | Borrower |  | Line of Credit |  | Term |  | Maturity Date |  | Interest Rate |  | As of December 31,
2024 |  | 2023
|  |  |  |  |  |  |  |  |  |  |  | $ |  | RMB |  | $ |  | RMB
China Construction Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB580,000 |  | 9-year |  | June 11, 2027 |  | 1 |  | 16,440 |  |  | 120,000 |  |  | 14,089 |  |  | 100,000 |
China Merchants Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB350,000 |  | 9-year |  | January 20, 2029 |  | 2 |  | 8,611 |  |  | 62,857 |  |  | 8,856 |  |  | 62,857 |
China Merchants Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB378,000 |  | 9-year |  | November 8, 2029 |  | 3 |  | 8,148 |  |  | 59,475 |  |  | 5,636 |  |  | 40,000 |
China CITIC Bank |  | BeiGene (Suzhou) Co., Ltd. |  | RMB480,000 |  | 10-year |  | July 28, 2032 |  | 4 |  | 1,384 |  |  | 10,100 |  |  | — |  |  | — |
China Merchants Bank |  | BeiGene, Ltd. |  | $380,000 |  | 1-year |  | 5 |  | 380,000 |  |  | 2,773,723 |  |  | 300,000 |  |  | 2,129,321 |
China Minsheng Bank |  | BeiGene, Ltd. |  | $150,000 |  | 1-year |  | December 16, 2025 |  | 6.8% |  | 150,000 |  |  | 1,094,891 |  |  | 150,000 |  |  | 1,064,660 |
China Industrial Bank |  | BeiGene, Ltd. |  | RMB675,000 |  | 364-days |  | March 27, 2025 |  | 6 |  | 92,475 |  |  | 675,000 |  |  | — |  |  | — |
China Merchants Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB400,000 |  | 1-year |  | June 5, 2025 |  | 3.0% |  | 54,800 |  |  | 400,000 |  |  | 56,356 |  |  | 400,000 |
HSBC Bank |  | BeiGene, Ltd. |  | RMB340,000 |  | 1-year |  | May 5, 2025 |  | 7 |  | 46,580 |  |  | 340,000 |  |  | 47,903 |  |  | 340,000 |
China Industrial Bank |  | BeiGene (Suzhou) Co., Ltd. |  | RMB200,000 |  | 1-year |  | May 29, 2024 |  | 2.8% |  | — |  |  | — |  |  | 28,177 |  |  | 200,000 |
Shanghai Pudong Development Bank |  | BeiGene, Ltd. |  | RMB700,000 |  | 1-year |  | November 24, 2025 |  | 2.9% |  | 93,091 |  |  | 679,492 |  |  | 49,312 |  |  | 350,000 |
China Merchants Bank |  | BeiGene (Suzhou) Co., Ltd. |  | RMB200,000 |  | 1-year |  | May 24, 2024 |  | 3.2% |  | — |  |  | — |  |  | 28,037 |  |  | 199,000 |
Total short-term debt |  | 851,529 |  |  | 6,215,538 |  |  | 688,366 |  |  | 4,885,838 |
China Construction Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB580,000 |  | 9-year |  | June 11, 2027 |  | 1 |  | 41,100 |  |  | 300,000 |  |  | 59,174 |  |  | 420,000 |
China Merchants Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB350,000 |  | 9-year |  | January 20, 2029 |  | 2 |  | 27,987 |  |  | 204,286 |  |  | 37,638 |  |  | 267,143 |
China Merchants Bank |  | BeiGene Guangzhou Biologics Manufacturing Co., Ltd. |  | RMB378,000 |  | 9-year |  | November 8, 2029 |  | 3 |  | 33,020 |  |  | 241,025 |  |  | 42,337 |  |  | 300,500 |
China CITIC Bank |  | BeiGene (Suzhou) Co., Ltd. |  | RMB480,000 |  | 10-year |  | July 28, 2032 |  | 4 |  | 64,377 |  |  | 469,900 |  |  | 58,469 |  |  | 415,000 |
Total long-term debt |  | 166,484 |  |  | 1,215,211 |  |  | 197,618 |  |  | 1,402,643 |
1.The outstanding borrowings bear floating interest rates benchmarking RMB loan interest rates of financial institutions in the PRC. The loan interest rate was 4.2% as of December 31, 2024. The Company repaid $13,739 (or RMB100,000) during the year ended December 31, 2024. The loan is secured by BeiGene Guangzhou Biologics Manufacturing Co., Ltd.’s property ownership certificate and fixed assets. 2.The outstanding borrowings bear floating interest rates benchmarking RMB loan interest rates of financial institutions in the PRC. The loan interest rate was 3.7% as of December 31, 2024. The Company repaid $8,730 (RMB62,857) during the year ended December 31, 2024. The loan is secured by Guangzhou Factory’s second land use right and certain fixed assets. 3.The outstanding borrowings bear floating interest rates benchmarking RMB loan interest rates of financial institutions in the PRC. The loan interest rate was 3.8% as of December 31, 2024. The Company repaid $5,562 (RMB40,000) during the year ended December 31, 2024. The loan is secured by fixed assets that will be placed into service upon completion of the third phase of the Guangzhou manufacturing facility’s build out. 4.The outstanding borrowings bear a floating interest rate benchmarked against prevailing interest rates of certain PRC financial institutions. The loan interest rate was 3.7% as of December 31, 2024. The Company drew down $9,053 (RMB65,000) during the year ended December 31, 2024. The loan is secured by BeiGene (Suzhou) Co., Ltd.’s property ownership certificate of the small molecule manufacturing campus in Suzhou, China. 5.The outstanding borrowings bear floating interest rates benchmarking the secured overnight financing rate. The loan interest rate was 6.2% as of December 31, 2024. $80,000 of the borrowing matures on January 27, 2025, and $300,000 matures on December 17, 2025. 6.The outstanding borrowings bear floating interest rates benchmarking RMB loan interest rates of financial institutions in the PRC. The loan interest rate was 2.6% as of December 31, 2024. 7.The outstanding borrowings bear floating interest rates benchmarking Hong Kong interbank market rate for RMB. The loan interest rate was 4.4% as of December 31, 2024. The Company has numerous financial and non-financial covenants on its debt obligations with various banks and other lenders. Some of these covenants include default and/or cross-default provisions that could require acceleration of repayment of loans in the event of default. However, the Company’s debt is primarily short-term in nature. Any acceleration would be a matter of months but may impact the Company’s ability to refinance debt obligations if an event of default occurs. As of December 31, 2024, the Company is in compliance with all covenants of our material debt agreements. Contractual Maturities of Debt Obligations The aggregate contractual maturities of all borrowings due subsequent to December 31, 2024 are as follows:
Maturity dates |  | Amounts
|  | $
Year ending December 31, 2025 |  | 851,529 |
Year ending December 31, 2026 |  | 46,207 |
Year ending December 31, 2027 |  | 46,207 |
Year ending December 31, 2028 |  | 25,657 |
Year ending December 31, 2029 |  | 19,657 |
Thereafter |  | 28,756 |
Total |  | 1,018,013 |
Interest Expense Interest on bank loans is paid quarterly until the respective loans are fully settled. Interest expense recognized for the years ended December 31, 2024, 2023 and 2022 amounted to $46,894, $20,800 and $21,699, respectively, among which, $32,158, $16,571 and $2,594 was capitalized, respectively. Interest paid for the years ended December 31, 2024, 2023 and 2022, net of amounts capitalized, amounted to $19,723, $3,484 and $22,489, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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