Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 478

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 4
Chunk 478
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 We monitor in real time our operations throughout the entire production process, from inspection of raw and auxiliary materials, manufacture, delivery of finished products, clinical testing at hospitals, to ethical sales tactics. Our quality assurance team is also responsible for ensuring that we are in compliance with all applicable regulations, standards and internal policies. Our senior management team is actively involved in setting quality policies and managing internal and external quality performance of our company and our joint venture Shanghai Hutchison Pharmaceuticals. 
Customers and Suppliers
For the years ended December 31, 2022, 2023 and 2024, we generated revenue of $185.0 million, $538.0 million and $329.2 million from our five largest customers, respectively. For the years ended December 31, 2022, 2023 and 2024, revenue from our five largest customers represented approximately 43%, 64% and 52% of our total revenue, respectively, and revenue from our largest customer in those periods represented approximately 16%, 42% and 28% of our revenue in the same periods, respectively. Save for Sinopharm, our five largest customers were independent third parties and none of our directors or their close associates or, to the knowledge of our directors, any shareholders who owned more than 5% of our issued ordinary shares had any interest in any of our five largest customers as of the date of the filing of this annual report.
In 2022, 2023 and 2024, Sinopharm, which jointly owns the Distribution Business with us, was one of our five largest customers. Sales to Sinopharm and/or its associates contributed 16%, 8% and 9% of our revenue in 2022, 2023 and 2024, respectively. Purchases from Sinopharm and/or its associates contributed approximately 1% of our total purchases in 2022, 2023 and less than 1% of our total purchases in 2024, respectively.
For the years ended December 31, 2022, 2023 and 2024, the total purchases from our five largest suppliers were $90.9 million, $77.1 million and $75.4 million, respectively. For the years ended December 31, 2022, 2023 and 2024, our purchases from our five largest suppliers represented less than 20% of our total purchases. All of our five largest suppliers were independent third parties and none of our directors or their close associates