Company: ZLAB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008409
Chunk: 19

Company: Zai Lab Ltd
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 19
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 of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ KPMG LLP

Short Hills, New Jersey

February 27, 2025

F-4

Zai Lab Limited 

Consolidated Balance Sheets 

(in thousands of U.S. dollars (“$”), except for number of shares and per share data) 

December 31,Notes20242023AssetsCurrent assetsCash and cash equivalents3449,667 790,151 Restricted cash, current100,000 — Short-term investments4330,000 16,300 Accounts receivable (net of allowance for credit losses of $25 and $17 as of December 31, 2024 and 2023, respectively)85,178 59,199 Notes receivable4,233 6,134 Inventories, net539,875 44,827 Prepayments and other current assets41,527 22,995 Total current assets1,050,480 939,606 Restricted cash, non-current1,114 1,113 Long-term investments 63,115 9,220 Prepayments for equipment18 111 Property and equipment, net747,961 53,734 Operating lease right-of-use assets821,496 14,844 Land use rights, net2,907 3,069 Intangible assets, net956,027 13,389 Long-term deposits1,284 1,209 Value added tax recoverable1,351 — Total assets1,185,753 1,036,295 Liabilities and shareholders’ equityCurrent liabilitiesAccounts payable100,906 112,991 Current operating lease liabilities88,048 7,104 Short-term debt12131,711 — Other