Company: ZLAB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038548
Chunk: 41

Company: Zai Lab Ltd
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 974,541,780 Net loss per share - basic and diluted(0.04)(0.08)(0.08)(0.14)As a result of the Company’s net loss in the three and six months ended June 30, 2025 and 2024, share options and non-vested restricted shares outstanding in the respective periods were excluded from the calculation of diluted loss per share as their inclusion would have been anti-dilutive.June 30,20252024Share options92,521,370 121,522,950 Non-vested restricted shares26,743,120 35,535,640 

10. Borrowings

The Company has debt arrangements with the Bank of China, SPD Bank, CMB, BOCOM, and Ningbo Bank to support its working capital needs in mainland China. The following table presents the Company’s short-term debt as of June 30, 2025 ($ in thousands): Weighted-average interest rate per annumJune 30, 2025Bank of China Working Capital Loans2.42 %48,891 SPD Bank Working Capital Loans2.80 %41,908 China Merchant Bank Working Capital Loans2.87 %34,895 Bank of Communications Working Capital Loans2.75 %41,908 Ningbo Bank Discounted Bills1.90 %6,907 Total short-term debt2.66 %174,509 Bank of China Working Capital Loan FacilityIn February 2024, the Company entered into an uncommitted facility letter with the Bank of China (Hong Kong) Limited (“BOC HK”) pursuant to which BOC HK will provide standby letters of credit in favor of the Bank of China 

12

Zai Lab Limited Notes to the unaudited condensed consolidated financial statements 

Pudong Development Zone Branch (“BOC Pudong Branch”) for loans of up to $100.0 million for a term of one year, which are or may become payable by the Company’s wholly-owned subsidiary, Zai Lab (Shanghai) Co., Ltd. (“Zai Lab Shanghai”). BOC HK and BOC Pudong Branch are collectively referred to as Bank of China. In accordance with this agreement, the Company also maintained restricted deposits of $100.0 million, which are presented as restricted cash-current on the unaudited condensed consolidated balance sheet, to secure the standby letters of credit.  Each working capital loan has a one-year term