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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:
LenderBorrowerLine of CreditTermMaturity DateInterest RateAs of December 31,
20242023
$RMB$RMB
China Construction BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd. RMB580,000
9-year
June 11, 2027116,440 120,000 14,089 100,000 
China Merchants BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd.RMB350,000
9-year
January 20, 202928,611 62,857 8,856 62,857 
China Merchants BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd.RMB378,000
9-year
November 8, 202938,148 59,475 5,636 40,000 
China CITIC BankBeiGene (Suzhou) Co., Ltd.RMB480,000
10-year
July 28, 203241,384 10,100 — — 
China Merchants BankBeiGene, Ltd.$380,000
1-year
5380,000 2,773,723 300,000 2,129,321 
China Minsheng BankBeiGene, Ltd.$150,000
1-year
December 16, 20256.8%150,000 1,094,891 150,000 1,064,660 
China Industrial BankBeiGene, Ltd.RMB675,000
364-days
March 27, 2025692,475 675,000 — — 
China Merchants BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd.RMB400,000
1-year
June 5, 20253.0%54,800 400,000 56,356 400,000 
HSBC BankBeiGene, Ltd.RMB340,000
1-year
May 5, 2025746,580 340,000 47,903 340,000 
China Industrial BankBeiGene (Suzhou) Co., Ltd.RMB200,000
1-year
May 29, 20242.8%— — 28,177 200,000 
Shanghai Pudong Development BankBeiGene, Ltd.RMB700,000
1-year
November 24, 20252.9%93,091 679,492 49,312 350,000 
China Merchants BankBeiGene (Suzhou) Co., Ltd.RMB200,000
1-year
May 24, 20243.2%— — 28,037 199,000 
Total short-term debt851,529 6,215,538 688,366 4,885,838 
China Construction BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd. RMB580,000
9-year
June 11, 2027141,100 300,000 59,174 420,000 
China Merchants BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd.RMB350,000
 9-year
January 20, 2029227,987 204,286 37,638 267,143 
China Merchants BankBeiGene Guangzhou Biologics Manufacturing Co., Ltd. RMB378,000
9-year
November 8, 2029333,020 241,025 42,337 300,500 
China CITIC BankBeiGene (Suzhou) Co., Ltd.RMB480,000
10-year
July 28, 2032464,377 469,900 58,469 415,000 
Total long-term debt166,484 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 datesAmounts
$
Year ending December 31, 2025851,529 
Year ending December 31, 202646,207 
Year ending December 31, 202746,207 
Year ending December 31, 202825,657 
Year ending December 31, 202919,657 
Thereafter28,756 
Total1,018,013 
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.