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Condensed Financial Information of the Parent Company | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information of the Parent Company [Abstract] |
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY |
| 32. | CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
The business transactions and assets of Adlai Hangzhou and Shanghai Adlai Nortye Biopharma Co., Ltd (“PRC Subsidiaries”) are primarily denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. These currency exchange control measures imposed by the PRC government may restrict the ability of PRC Subsidiaries to transfer their net assets to the Company through loans, advances or cash dividends. The net assets of PRC Subsidiaries in aggregate exceeded 25% of the Company’s consolidated net assets. Accordingly, condensed parent company financial statements have been prepared in accordance with Rule 5.04 and Rule 12-04 of SEC Regulation S-X. The subsidiaries did not pay any dividends to the Company for the periods presented. For the purpose of presenting parent-only financial information, the Company records its investment in its subsidiaries under the cost method of accounting. Such investment is presented on the separate condensed balance sheets of the Company as “Investment in subsidiaries”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with IFRSs are not required. As of December 31, 2023 and 2024, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any. PARENT COMPANY BALANCE SHEETS
|  | December 31, |
|  | 2023 |  |  | 2024 |
|  | $’000 |  |  | $’000 |
ASSETS |  |  |  |  |  |
Current assets |  |  |  |  |  |
Cash and cash equivalents |  |  | 63,150 |  |  |  | 10,652 |
Prepayments, other receivables and other assets |  |  | 44 |  |  |  | 30 |
short-term investments at amortized cost |  |  | 7,000 |  |  |  | — |
Total current assets |  |  | 70,194 |  |  |  | 10,682 |
Non-current assets |  |  |  |  |  |  |  |
Due from related parties |  |  | 123,102 |  |  |  | 177,507 |
Investment in subsidiaries |  |  | 129,711 |  |  |  | 138,588 |
Total non-current assets |  |  | 252,813 |  |  |  | 316,095 |
Total assets |  |  | 323,007 |  |  |  | 326,777 |
LIABILITIES |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Accounts payable |  |  | 976 |  |  |  | 538 |
Other payables and accruals. |  |  | 53 |  |  |  | 95 |
Due to related parties |  |  | 40 |  |  |  | — |
Interest-bearing bank and other borrowings |  |  | 10,650 |  |  |  | 10,810 |
Non-current liabilities due within one year |  |  | — |  |  |  | — |
Financial liabilities at FVTPL |  |  | — |  |  |  | — |
Total current liabilities |  |  | 11,719 |  |  |  | 11,443 |
Non-current liabilities |  |  |  |  |  |  | — |
Long-term loans |  |  | — |  |  |  | — |
Financial liabilities at FVTPL |  |  | — |  |  |  | — |
Total non-current liabilities |  |  | — |  |  |  | — |
Total liabilities |  |  | 11,719 |  |  |  | 11,443 |
Class A Ordinary shares (par value of $0.0001 per share; 93,710,805 shares outstanding as of December 31, 2023; and 93,710,803 shares outstanding as of December 31, 2024) |  |  | 9 |  |  |  | 9 |
Class B Ordinary shares (par value of $0.0001 per share; 16,990,000 shares outstanding as of December 31, 2023 and 2024) |  |  | 2 |  |  |  | 2 |
Share premium |  |  | 438,707 |  |  |  | 439,016 |
Share based payments reserve |  |  | 16,059 |  |  |  | 20,311 |
Accumulated deficit |  |  | (143,489 | ) |  |  | (144,004 | )
Total shareholders’ deficit |  |  | 311,288 |  |  |  | 315,334 |
Total liabilities and shareholders’ equity |  |  | 323,007 |  |  |  | 326,777 |
PARENT COMPANY STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
|  | For the Years Ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | $’000 |  |  | $’000 |  |  | $’000 |
REVENUE |  |  | — |  |  |  | — |  |  |  | — |
Other operating income, net |  |  | 156 |  |  |  | 242 |  |  |  | 1,305 |
General and administrative expenses |  |  | (1,390 | ) |  |  | (6,196 | ) |  |  | (1,473 | )
Research and development expenses |  |  | — |  |  |  | — |  |  |  | — |
Total operating loss |  |  | (1,234 | ) |  |  | (5,954 | ) |  |  | (168 | )
Other income and gains |  |  | — |  |  |  | — |  |  |  | 283 |
Other expenses |  |  | — |  |  |  | — |  |  |  | — |
Investment income |  |  | — |  |  |  | — |  |  |  | — |
Fair value loss on financial liabilities at FVTPL |  |  | 7,194 |  |  |  | (39,171 | ) |  |  | — |
Finance costs |  |  | — |  |  |  | (249 | ) |  |  | (630 | )
LOSS BEFORE TAX |  |  | 5,960 |  |  |  | (45,374 | ) |  |  | (515 | )
Income tax expense |  |  | — |  |  |  | — |  |  |  | — |
LOSS FOR THE YEAR |  |  | 5,960 |  |  |  | (45,374 | ) |  |  | (515 | )
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE YEAR |  |  | 5,960 |  |  |  | (45,374 | ) |  |  | (515 | )
PARENT COMPANY STATEMENTS OF CASH FLOWS
|  | Year ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | $’000 |  |  | $’000 |  |  | $’000 |
Net cash flows used in operating activities |  |  | (1,134 | ) |  |  | (13,143 | ) |  |  | (56,397 | )
Net cash flows used in investing activities |  |  | (35,035 | ) |  |  | (38,082 | ) |  |  | 4,193 |
Net cash flows from financing activities |  |  | — |  |  |  | 102,181 |  |  |  | (294 | )
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |  |  | (36,169 | ) |  |  | 50,956 |  |  |  | (52,498 | )
Cash and cash equivalents at beginning of year |  |  | 48,363 |  |  |  | 12,194 |  |  |  | 63,150 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  |  | 12,194 |  |  |  | 63,150 |  |  |  | 10,652 |

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