Research and development expenses. Our research and development expenses increased 90.9% to RMB6.1 million (US$0.8 million) for 2006 from RMB3.2 million for 2005. The increase was mainly attributable to research and development expenses associated with TPIAO's phase IV post-marketing clinical tests and the development of our EPIAO pipeline products. The increase was also related to a one-time licensing fee for the licensing and co-development of anti-TNF alpha monoclonal antibody therapeutics with Epitomics Inc., and for continued development of other pipeline products.
-- Total net revenues increased 25.3% to RMB127.8 million (US$16.4 million).
-- Revenue from EPIAO increased 16.5% to RMB98.8 million (US$12.7 million).
-- Revenue from TPIAO increased 474.5% to RMB16.1 million (US$2.1 million).
-- Revenue from export sales increased 17.8% to RMB5.9 million (US$0.8 million).
-- Operating income increased 81.2% to RMB36.5 million (US$4.7 million).
-- Net income increased 89.9% to RMB30.5 million (US$3.9 million).
-- Earnings per ADS were RMB2.13 (US$0.27) in 2006, compared to RMB1.12 per ADS in 2005.
3SBio Inc. Announces Fourth Quarter And Fiscal Year 2006 Results