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LEASES | 3 Months Ended
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Mar. 31, 2025
Lease [Abstract] |
LEASES | LEASES The Company as a lessee The Company has leases for office, research laboratory and manufacturing facilities, equipment, vehicles, and land. The terms of the leases vary, although most generally have lease terms between 3 and 29 years. Lump sum payments were made upfront to acquire the leasehold land from the owners with lease periods of 50 years, and no ongoing payments will be made under the terms of these leasehold land. Leases with terms of 12 months or less are expensed as incurred. Collaboration assets represent the Company’s share of assets leased to the collaboration from Janssen Biotech, Inc., a Johnson & Johnson company ("Janssen"), which purchased the assets on behalf of the collaboration, in connection with our collaboration and license agreement (the "Janssen Agreement"). Collaboration assets under construction that will be leased to the collaboration from Janssen when placed into service are classified as collaboration prepaid leases on the consolidated financial statements. (a)Right-of-use assets The carrying amounts of the Company’s right-of-use assets and the movements for the three months ended March 31, 2025 are as follows:
|  | 2025
|  | US$’000
Right-of-use assets at January 1, 2025 |  | 101,932 |
Additions |  | 6,703 |
Impairment |  | (970) |
Exchange realignment |  | 2,346 |
Depreciation of right-of-use assets |  | (2,787) |
Right-of-use assets at March 31, 2025 |  | 107,224 |
(b)Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The balance of the Company’s lease liabilities and the movements for the three months ended March 31, 2025 are as follows:
|  | 2025
|  | US$’000
Carrying amount at January 1, 2025 |  | 49,407 |
Additions |  | 6,435 |
Accretion of interest recognized during the period |  | 499 |
Payments |  | (1,276) |
Exchange realignment |  | 2,000 |
Carrying amount at March 31, 2025 |  | 57,065 |
Analyzed into: |  |
Current portion |  | 5,341 |
Non-current portion |  | 51,724 |
Carrying amount at March 31, 2025 |  | 57,065 |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2024-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2024-03-27 + Details
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- Definition Lease abstract. + References No definition available. + Details
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