Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 4

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 1
Chunk 4
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 to certain statutory reserve funds or may make appropriations to certain discretionary funds, which are not distributable as cash dividends except in the event of a solvent liquidation of the companies. The amount of any repayment of shareholder loans or dividend payments can be distributed to our various offshore subsidiaries through our offshore Hong Kong-incorporated holding companies. For more information, see Item 3. D. “Risk Factors - Other Risks and Risks Relating to Doing Business in China - Restrictions on currency exchange may limit our ability to receive and use our revenue effectively. ” and Item 4. B. “ Business Overview - Regulations - PRC Regulation of Foreign Currency Exchange, Offshore Investment and State-Owned Assets - Regulation on Investment in Foreign invested Enterprises. ” Our joint venture in China does not require intra-group funding as it has been profitable. Service and milestone and upfront payments from our collaboration partners are received directly by our PRC subsidiaries and reinvested into their operations.

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For the year ended December 31, 2024, no fund was provided by HUTCHMED to its PRC subsidiaries. For the years ended December 31, 2023 and 2022, HUTCHMED provided funds to its PRC subsidiaries of $20.0 million and $310.0 million, respectively, of which $20.0 million and $100.0 million, respectively, were in the form of capital contributions and nil and $210.0 million, respectively, were in the form of shareholder loans. Additionally, during the years ended December 31, 2024, 2023 and 2022, shareholder loans of approximately $1.5 million, $2.6 million and $3.4 million were repaid by a PRC subsidiary, respectively. There were no transfers of assets other than transfers of cash to/from PRC subsidiaries in 2024, 2023 and 2022.

For the years ended December 31, 2024, 2023 and 2022, the Hong Kong immediate holding company of our onshore non-consolidated joint venture, Shanghai Hutchison Pharmaceuticals, received dividends totaling approximately $34.9 million, $42.3 million and $43.7 million, respectively. These dividends were subject to a 5% withholding tax upon distribution from Shanghai Hutchison Pharmaceuticals to its Hong Kong immediate holding company.

HUTCHMED also conducts operations outside of China through subsidiaries in the U. S. and E. U. Such subsidiaries in the U. S