Company: HMDCF
Filing Date: 2025-03-19
Form Type: 20-F
Source: 0001410578-25-000377
Chunk: 289

Company: HUTCHMED (China) Ltd
Filing Date: 2025-03-19
Form: 20-F
Item: Item 1
Chunk 289
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 Limited for sales and marketing expenses and related personnel expenses for our unpartnered drug Sulanda. It also includes sales and marketing expenses and related personnel expenses incurred by our Other Ventures in their distribution and marketing of pharmaceutical and healthcare products.

Table of Contents

Administrative Expenses

The following table sets forth the components of our administrative expenses for the years indicated.

Administrative expenses are also incurred by our corporate head office, which are not allocated to either Oncology/Immunology or Other Ventures.

                               Year Ended December 31,                                                             
                                                  2024                    2023                    2022             
                                               $ ’ 000          %      $ ’ 000          %      $ ’ 000          %  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Administrative Expenses                                                                                          
  Oncology/Immunology                           36,910       57.4       47,966       60.1       58,395       63.3  
  Other Ventures                                 4,996        7.8        5,435        6.8        3,482        3.8  
  Corporate Head Office                         22,390       34.8       26,383       33.1       30,296       32.9  
  Total                                         64,296      100.0       79,784      100.0       92,173      100.0  

Oncology/Immunology’s administrative expenses are primarily comprised of the salaries and benefits of administrative staff, office leases and other overhead expenses incurred by HUTCHMED Limited.

Our Other Ventures’ administrative expenses are primarily comprised of the salaries and benefits of administrative staff, office leases and other overhead expenses incurred by our Distribution Business.

Our corporate head office administrative expenses are primarily comprised of the salaries and benefits of our corporate head office employees and directors, office leases and other overhead expenses.

Equity in Earnings of Equity Investees

We have historically derived a significant portion of our net income from our equity in earnings of equity investees, which was primarily attributable to our non-consolidated joint venture, Shanghai Hutchison Pharmaceuticals. Our equity in earnings of equity investees, net of tax, contributed by Shanghai Hutchison Pharmaceuticals was $49.7 million, $47.3 million and $46.5 million for the years ended December 31, 2022, 2023 and 2024 respectively.

On December 31