2023 Q4 Form 10-K Financial Statement

#000162828024007235 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $65.83M $266.7M
YoY Change 5.16% 24.03%
Cost Of Revenue $25.24M $95.82M
YoY Change 20.61% 29.45%
Gross Profit $40.59M $170.9M
YoY Change -2.6% 21.19%
Gross Profit Margin 61.66% 64.08%
Selling, General & Admin $82.63M $281.6M
YoY Change 14.72% 8.74%
% of Gross Profit 203.55% 164.78%
Research & Development $81.95M $265.9M
YoY Change 22.41% -7.17%
% of Gross Profit 201.88% 155.57%
Depreciation & Amortization $2.459M $9.029M
YoY Change 15.61% 9.75%
% of Gross Profit 6.06% 5.28%
Operating Expenses $164.6M $547.5M
YoY Change 18.42% 0.38%
Operating Profit -$124.0M -$366.6M
YoY Change 27.43% -9.34%
Interest Expense $21.77M $24.95M
YoY Change -146.26%
% of Operating Profit
Other Income/Expense, Net $6.783M $7.006M
YoY Change -91.79% 125.06%
Pretax Income -$95.43M -$334.6M
YoY Change 54.49% -24.51%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$95.43M -$334.6M
YoY Change 54.49% -24.51%
Net Earnings / Revenue -144.96% -125.46%
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$0.10 -$0.35
COMMON SHARES
Basic Shares Outstanding 966.4M shares
Diluted Shares Outstanding 966.4M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $806.5M $806.5M
YoY Change -20.03% -20.03%
Cash & Equivalents $790.2M $1.100M
Short-Term Investments $16.30M $16.30M
Other Short-Term Assets $23.00M $23.00M
YoY Change -35.54% -35.54%
Inventory $44.83M $44.83M
Prepaid Expenses
Receivables $59.20M $59.20M
Other Receivables $6.134M $6.134M
Total Short-Term Assets $939.6M $939.6M
YoY Change -16.43% -16.43%
LONG-TERM ASSETS
Property, Plant & Equipment $53.73M $68.58M
YoY Change -7.14% -11.37%
Goodwill
YoY Change
Intangibles $13.39M
YoY Change 786.1%
Long-Term Investments $9.220M $9.220M
YoY Change 43.37% 43.37%
Other Assets $2.433M $2.433M
YoY Change -32.32% -32.32%
Total Long-Term Assets $96.69M $96.69M
YoY Change 0.92% 0.92%
TOTAL ASSETS
Total Short-Term Assets $939.6M $939.6M
Total Long-Term Assets $96.69M $96.69M
Total Assets $1.036B $1.036B
YoY Change -15.07% -15.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.0M $113.0M
YoY Change 71.27% 71.27%
Accrued Expenses $40.82M $40.82M
YoY Change 5.36% 5.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $203.1M $203.1M
YoY Change 45.21% 45.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $325.0K $37.11M
YoY Change 6.94%
Total Long-Term Liabilities $325.0K $37.11M
YoY Change 6.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.1M $203.1M
Total Long-Term Liabilities $325.0K $37.11M
Total Liabilities $240.2M $240.2M
YoY Change 37.6% 37.6%
SHAREHOLDERS EQUITY
Retained Earnings -$2.196B
YoY Change 17.98%
Common Stock $2.975B
YoY Change 2.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $796.1M $796.1M
YoY Change
Total Liabilities & Shareholders Equity $1.036B $1.036B
YoY Change -15.07% -15.07%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$95.43M -$334.6M
YoY Change 54.49% -24.51%
Depreciation, Depletion And Amortization $2.459M $9.029M
YoY Change 15.61% 9.75%
Cash From Operating Activities -$14.92M -$198.2M
YoY Change -86.35% -46.09%
INVESTING ACTIVITIES
Capital Expenditures $843.0K $7.212M
YoY Change -80.72% -70.67%
Acquisitions
YoY Change
Other Investing Activities $15.30M -$2.285M
YoY Change -100.51%
Cash From Investing Activities $14.46M -$10.78M
YoY Change -430.6% -102.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 393.0K -$6.433M
YoY Change -297.49% 271.85%
NET CHANGE
Cash From Operating Activities -14.92M -$198.2M
Cash From Investing Activities 14.46M -$10.78M
Cash From Financing Activities 393.0K -$6.433M
Net Change In Cash -67.00K -$218.0M
YoY Change -99.94% -591.34%
FREE CASH FLOW
Cash From Operating Activities -$14.92M -$198.2M
Capital Expenditures $843.0K $7.212M
Free Cash Flow -$15.76M -$205.4M
YoY Change -86.13% -47.63%

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CY2023Q4 us-gaap Stockholders Equity
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2023 us-gaap Inventory Write Down
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CY2022 us-gaap Inventory Write Down
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477000 usd
CY2021 us-gaap Inventory Write Down
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CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9029000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8227000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
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6487000 usd
CY2023 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
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CY2022 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
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CY2021 us-gaap Tangible Asset Impairment Charges
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CY2023 zlab Amortization Of Deferred Income
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CY2022 zlab Amortization Of Deferred Income
AmortizationOfDeferredIncome
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CY2021 zlab Amortization Of Deferred Income
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CY2023 us-gaap Share Based Compensation
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79634000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2023 zlab Noncash Research And Development Expenses
NoncashResearchAndDevelopmentExpenses
0 usd
CY2022 zlab Noncash Research And Development Expenses
NoncashResearchAndDevelopmentExpenses
0 usd
CY2021 zlab Noncash Research And Development Expenses
NoncashResearchAndDevelopmentExpenses
62250000 usd
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023 us-gaap Equity Securities Fv Ni Gain Loss
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2789000 usd
CY2022 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
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CY2021 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
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CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2023 zlab Gain Loss On Disposal Of Land Use Rights
GainLossOnDisposalOfLandUseRights
408000 usd
CY2022 zlab Gain Loss On Disposal Of Land Use Rights
GainLossOnDisposalOfLandUseRights
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CY2021 zlab Gain Loss On Disposal Of Land Use Rights
GainLossOnDisposalOfLandUseRights
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CY2023 zlab Non Cash Lease Expenses
NonCashLeaseExpenses
8708000 usd
CY2022 zlab Non Cash Lease Expenses
NonCashLeaseExpenses
8350000 usd
CY2021 zlab Non Cash Lease Expenses
NonCashLeaseExpenses
6119000 usd
CY2023 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
10000000 usd
CY2022 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
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CY2021 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
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CY2023 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
10679000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20040000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023 us-gaap Increase Decrease In Notes Receivable Current
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CY2022 us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
1976000 usd
CY2021 us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
7335000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
14907000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15382000 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-12246000 usd
CY2021 zlab Increase Decrease In Long Term Deposits
IncreaseDecreaseInLongTermDeposits
8000 usd
CY2023 zlab Increase Decrease In Value Added Taxes Receivable
IncreaseDecreaseInValueAddedTaxesReceivable
0 usd
CY2022 zlab Increase Decrease In Value Added Taxes Receivable
IncreaseDecreaseInValueAddedTaxesReceivable
-22781000 usd
CY2021 zlab Increase Decrease In Value Added Taxes Receivable
IncreaseDecreaseInValueAddedTaxesReceivable
1717000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
36803000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Accounts Payable
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19810000 usd
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
7392000 usd
CY2021 us-gaap Increase Decrease In Other Current Liabilities
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30142000 usd
CY2023 zlab Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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CY2022 zlab Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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CY2021 zlab Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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CY2023 us-gaap Increase Decrease In Deferred Revenue
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11181000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
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CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
11149000 usd
CY2023 us-gaap Increase Decrease In Other Noncurrent Liabilities
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325000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2021 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
134000000 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
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260274000 usd
CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
445000000 usd
CY2023 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
117700000 usd
CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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705274000 usd
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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CY2023 us-gaap Payments To Acquire Equity Method Investments
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CY2022 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
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CY2021 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
30000000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7212000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24585000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18295000 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
122000 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2023 us-gaap Payments To Acquire Intangible Assets
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1279000 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
399000 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
653000 usd
CY2023 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
10000000 usd
CY2022 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
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CY2021 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
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CY2023 zlab Proceeds From Disposal Of Land Use Rights
ProceedsFromDisposalOfLandUseRights
3893000 usd
CY2022 zlab Proceeds From Disposal Of Land Use Rights
ProceedsFromDisposalOfLandUseRights
0 usd
CY2021 zlab Proceeds From Disposal Of Land Use Rights
ProceedsFromDisposalOfLandUseRights
0 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
420016000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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249957000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2369000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5870000 usd
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7417000 usd
CY2023 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 usd
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2021 us-gaap Payments Of Stock Issuance Costs
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1837000 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8802000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7600000 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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4253000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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44370000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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522044000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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1009273000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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442859000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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791264000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1009273000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
964903000 usd
CY2023 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
2474000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
5269000 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
2568000 usd
CY2023 zlab Non Cash Payables For Intangible Assets
NonCashPayablesForIntangibleAssets
11516000 usd
CY2022 zlab Non Cash Payables For Intangible Assets
NonCashPayablesForIntangibleAssets
163000 usd
CY2021 zlab Non Cash Payables For Intangible Assets
NonCashPayablesForIntangibleAssets
191000 usd
CY2023 zlab Non Cash Payables For Treasury Stock
NonCashPayablesForTreasuryStock
0 usd
CY2022 zlab Non Cash Payables For Treasury Stock
NonCashPayablesForTreasuryStock
2000 usd
CY2021 zlab Non Cash Payables For Treasury Stock
NonCashPayablesForTreasuryStock
26000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3668000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
14801000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2183000 usd
CY2023 zlab Receivable Recognized For Disposal Of Property And Equipment
ReceivableRecognizedForDisposalOfPropertyAndEquipment
0 usd
CY2022 zlab Receivable Recognized For Disposal Of Property And Equipment
ReceivableRecognizedForDisposalOfPropertyAndEquipment
64000 usd
CY2021 zlab Receivable Recognized For Disposal Of Property And Equipment
ReceivableRecognizedForDisposalOfPropertyAndEquipment
0 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
790151000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1008470000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
964100000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1113000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
803000 usd
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
803000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
964903000 usd
CY2022Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
10
CY2022Q1 zlab Common Stock Authorized Share Capital
CommonStockAuthorizedShareCapital
30000 usd
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000006
CY2022Q1 zlab American Depositary Share To Common Stock Conversion Ratio
AmericanDepositaryShareToCommonStockConversionRatio
1
CY2022Q1 zlab American Depositary Share To Common Stock Conversion Ratio
AmericanDepositaryShareToCommonStockConversionRatio
10
CY2023 us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Areas where management uses subjective judgment include, but are not limited to, accrual of rebates, recognition of research and development expenses to the appropriate financial reporting period based on actual services performed, fair value of share-based compensation expenses, and recoverability of deferred tax assets. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Actual results could differ from these estimates.
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Current
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestCurrent
0 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Current
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestCurrent
0 usd
CY2019 zlab Land Use Rights Lease Term
LandUseRightsLeaseTerm
P30Y
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3100000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2700000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2500000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
0 usd
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%">Concentration of Credit Risk </span></div><div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Financial instruments that are potentially subject to significant concentration of credit risk consist of cash and cash equivalents, short-term investments, accounts receivable, and notes receivable. </span></div><div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">The carrying amounts of cash and cash equivalents and short-term investments represent the maximum amount of loss due to credit risk. As of December 31, 2023 and 2022, all of the Company’s cash and cash equivalents and short-term investments were held by major financial institutions located in mainland China and international financial institutions outside of mainland China which management believes are of high credit quality and continually monitors the credit worthiness of these financial institutions.</span></div>Accounts receivable are typically unsecured and are derived from product sales and collaborative arrangements. The Company manages credit risk of accounts receivable through ongoing monitoring of the outstanding balances and limits the amount of credit extended based upon payment history and credit worthiness. Historically, the Company has collected receivables from customers within the credit terms with no significant credit losses incurred. <div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Certain accounts receivable balances may be settled in the form of notes receivable. As of December 31, 2023, notes receivable represented bank acceptance promissory notes that are non-interest bearing and due within six months. Notes receivable were used to collect the receivables based on an administrative convenience, given these notes are readily </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">convertible to be known amounts of cash. In accordance with the sales agreements, whether to use cash or bank acceptance promissory notes to settle the receivables is at the Company’s discretion, and this selection does not impact the agreed contractual purchase prices. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%">Foreign Currency Risk </span></div>RMB is not a freely convertible currency. The State Administration of Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into foreign currencies. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.
CY2023Q4 us-gaap Cash
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