Group 1: Financial Performance - The company reported a revenue of approximately 489 million RMB and a net profit of about 4.062 million RMB for the first half of 2025 [1] - The net cash flow from operating activities remained positive, amounting to 34.83 million RMB, representing a year-on-year increase of 25% [1] Group 2: Business Strategy and Growth - Since the strategic transformation to CDMO, the company has become a leading domestic biopharmaceutical CDMO provider, offering comprehensive international services from R&D to commercial production [1] - In the first half of 2025, the company added 16 new projects, including 14 ADC projects, bringing the total to 169 projects, and assisted 12 projects in advancing from preclinical to clinical stages [1] - The company has a signed but unfulfilled order backlog of 200 million RMB, indicating strong future revenue potential [1] - The company achieved a repurchase rate of 73% during the reporting period, reflecting high customer satisfaction and service quality [1] Group 3: Product Development and International Expansion - The core product, Bevacizumab injection (domestic brand name: Puxintin), has made significant progress in overseas expansion in emerging markets, successfully obtaining market approval in Nigeria and Pakistan [2] - As of June 30, 2025, the company's facilities have passed GMP inspections in Brazil, Colombia, Egypt, Indonesia, Argentina, and Pakistan, demonstrating international recognition of its quality system and compliance [2] - The approvals in Nigeria and Pakistan mark a breakthrough for the company in international commercial supply, enhancing its global market presence [2]

Group 1 - The company reported a revenue of approximately 489 million RMB and a net profit of about 4.06 million RMB for the first half of 2025, with a positive net cash flow from operating activities of 34.83 million RMB, representing a 25% year-on-year increase [1] - Since its strategic transformation to CDMO, the company has become a leading domestic biopharmaceutical CDMO provider, offering comprehensive international services from R&D to commercial production for various bioconjugates [1] - As of June 30, 2025, the company added 16 new projects in the first half of the year, including 14 ADC projects, bringing the total to 169 projects, and assisted 12 projects in advancing from preclinical to clinical stages, showcasing its service delivery capabilities [1] - The company has signed uncompleted orders amounting to 200 million RMB, with a repurchase rate of 73% due to its excellent delivery capabilities and service quality [1] - The company successfully assisted clients in completing the world's first approved clinical dual-load ADC project during the reporting period [1] Group 2 - The company's core product, Bevacizumab injection (domestic brand name: Puxintin®), has made significant progress in overseas expansion in emerging markets, successfully obtaining market approval from regulatory authorities in Nigeria and Pakistan in the first half of 2025 [2] - Facilities related to the product have passed GMP inspections in Brazil, Colombia, Egypt, Indonesia, Argentina, and Pakistan, indicating international recognition of the company's quality system and compliance [2] - The approvals in Nigeria and Pakistan mark a breakthrough for the company in international commercial supply, as it will be responsible for the global commercialization of Bevacizumab injection [2]

[Performance Summary](index=1&type=section&id=Performance%20Summary) [Financial and Operational Highlights](index=1&type=section&id=Financial%20and%20Operational%20Highlights) In H1 2025, total revenue decreased by 6% to RMB 489 million, with product sales slightly down and CDMO/CMO revenue falling 32% due to project delays, leading to an 87% drop in net profit to RMB 4.06 million, while operating cash flow grew 25% to RMB 34.83 million, and core product Bevacizumab Injection made significant overseas market progress Key Financial Indicators for H1 2025 | Indicator | H1 2025 (RMB Thousands) | YoY Change | | :--- | :--- | :--- | | Revenue | 489,140 | -6% | | - Product Sales Revenue | 397,909 | -1% | | - CDMO/CMO Business Revenue | 77,301 | -32% | | Net Profit | 4,062 | -87% | | Net Cash from Operating Activities | 34,830 | +25% | - The decline in net profit is primarily attributed to delayed delivery milestones for key CDMO projects, increased depreciation and amortization from new major construction projects, and higher selling and administrative expenses for overseas market expansion and management system optimization[4](index=4&type=chunk) - Core product Bevacizumab Injection (Puxinting®) received marketing approval in Nigeria and Pakistan, with production facilities passing GMP inspections in Brazil, Colombia, and other countries, marking the commencement of the company's international commercial supply[5](index=5&type=chunk) - The company-licensed TAB014 (Bevacizumab Intravitreal Injection Solution) to Zhaoke Ophthalmology has submitted a marketing application, making it the first Bevacizumab ophthalmic formulation to be declared for marketing in China for wet age-related macular degeneration (wAMD)[6](index=6&type=chunk) [Consolidated Financial Information](index=3&type=section&id=Consolidated%20Financial%20Information) [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the company reported revenue of RMB 489 million, a 6% decrease year-on-year, with operating profit significantly dropping to RMB 9.18 million from RMB 33.26 million due to stable costs and expenses amidst declining revenue, resulting in a net profit of RMB 4.06 million, down 87% year-on-year, and basic and diluted earnings per share of RMB 0.01 Summary of Interim Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Item | 2025 (RMB Thousands) | 2024 (RMB Thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 489,140 | 520,603 | -6.0% | | Operating Profit | 9,178 | 33,258 | -72.4% | | Profit Before Income Tax | 4,062 | 31,559 | -87.1% | | Profit for the Period | 4,062 | 31,559 | -87.1% | | Basic and Diluted Earnings Per Share (RMB) | 0.01 | 0.04 | -75.0% | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets were RMB 1.476 billion, a slight decrease from year-end 2024, while total liabilities decreased to RMB 745 million, primarily due to lower current liabilities, and total equity slightly increased to RMB 732 million, with net current assets improving to RMB 390 million from RMB 328 million Summary of Interim Condensed Consolidated Statement of Financial Position | Item | June 30, 2025 (RMB Thousands) | December 31, 2024 (RMB Thousands) | | :--- | :--- | :--- | | **Total Assets** | **1,476,422** | **1,508,772** | | Non-current Assets | 729,669 | 765,495 | | Current Assets | 746,753 | 743,277 | | **Total Liabilities** | **744,740** | **779,117** | | Non-current Liabilities | 388,247 | 363,754 | | Current Liabilities | 356,493 | 415,363 | | **Total Equity** | **731,682** | **729,655** | | Net Current Assets | 390,260 | 327,914 | [Notes to Financial Information](index=6&type=section&id=Notes%20to%20Financial%20Information) The notes detail the company's accounting policies, revenue composition, and asset and liability status, showing that product sales constitute the largest portion of revenue, the vast majority of income and non-current assets are from Mainland China, total borrowings are approximately RMB 396 million with a weighted average effective interest rate of 3.33%, and no dividends were distributed this period Revenue Breakdown for H1 2025 (RMB Thousands) | Revenue Category | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Sales of Goods | 397,909 | 400,400 | | CDMO/CMO | 77,301 | 113,791 | | Commission Income | 6,144 | 5,339 | | Revenue from Licensed-out Products | 4,717 | – | | Others | 3,069 | 1,073 | | **Total** | **489,140** | **520,603** | - The company's operations are primarily concentrated in Mainland China, with 97.5% of total revenue in H1 2025 originating from Mainland China, and all non-current assets located there[26](index=26&type=chunk) - As of June 30, 2025, the company's total borrowings amounted to **RMB 396 million**, with approximately 90% being non-current (over one year) borrowings, and the weighted average effective interest rate for bank borrowings was **3.33%**[38](index=38&type=chunk)[40](index=40&type=chunk) - The Board resolved not to declare an interim dividend for the six months ended June 30, 2025[44](index=44&type=chunk) [Management Discussion and Analysis](index=16&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=16&type=section&id=Business%20Review) In H1 2025, the company solidified its position as a leading domestic biopharmaceutical CDMO, particularly in the ADC field, adding 16 new projects, accumulating 169 projects, securing RMB 200 million in signed uncompleted orders with a 73% customer repurchase rate, while its self-developed core product Puxinting® (Bevacizumab) achieved significant overseas expansion with approvals in Nigeria and Pakistan, initiating international commercial supply - As a one-stop, integrated, end-to-end antibody and ADC drug CDMO service provider, the company added **16 new projects** (including 14 ADC projects) in H1, accumulating a total of **169 projects**[47](index=47&type=chunk)[48](index=48&type=chunk) - Signed and uncompleted orders reached **RMB 200 million**, with a customer repurchase rate of **73%** during the reporting period, and the company assisted a client in completing the world's first approved clinical dual-payload ADC project[48](index=48&type=chunk) - Core product Puxinting® (Bevacizumab) received marketing approval in Nigeria and Pakistan, with production facilities passing GMP inspections in multiple countries, initiating international commercial supply[50](index=50&type=chunk) [CDMO Business Development and Competitive Advantages](index=19&type=section&id=CDMO%20Business%20Development%20and%20Competitive%20Advantages) The company's CDMO business leverages its "integrated, end-to-end" antibody and ADC industrialization platform to significantly shorten R&D cycles, continuously iterating technology platforms like BDKcell® and GL-DisacLink™ ADC sugar-site conjugation technology, maintaining a quality management system compliant with Chinese, US, and European GMP standards with over 60 audits, and benefiting from flexible capacity deployment and an experienced international core team for differentiated competitive advantages - Offers "integrated, end-to-end" antibody and ADC one-stop CDMO services, capable of shortening the timeline from DNA sequence to IND submission to as fast as **11 months**[56](index=56&type=chunk) - Continuously iterates technology platforms, including the self-developed BDKcell® cell line development platform, and co-develops GL-DisacLink™ ADC sugar-site conjugation technology with partners[57](index=57&type=chunk)[59](index=59&type=chunk) - Quality system complies with international standards, having undergone over **60 GMP audits**, including a zero-deficiency EU QP audit and official GMP inspections from multiple emerging market countries[60](index=60&type=chunk) - The CDMO core team is stable, with key executives averaging over **15 years of multinational enterprise management experience**, and as of June 30, 2025, the CDMO team comprised **524 individuals**, accounting for **87%** of the company's total workforce[62](index=62&type=chunk) [Marketed Products and R&D Pipeline](index=22&type=section&id=Marketed%20Products%20and%20R%26D%20Pipeline) The company is streamlining its R&D pipeline to reduce expenses and focus on its core CDMO business, with Puxinting® (Bevacizumab Injection) and Tizian® (Temozolomide Capsules) as its main commercial products; Puxinting® is a core revenue driver, generating RMB 398 million in domestic sales in H1 2025 and actively pursuing overseas registrations in 35 countries, while Tizian® continues to supply the market through national centralized procurement Status of Key R&D Pipeline | Investigational Drug | Indication | Current Stage | | :--- | :--- | :--- | | TAE020 | Acute Myeloid Leukemia | Clinical Phase I | | TAB014 | Wet Age-related Macular Degeneration | NDA | | TAC020 | Various Solid Tumors | Preclinical | - Core product Puxinting® (Bevacizumab) generated domestic sales revenue of **RMB 398 million** in H1 2025, has initiated marketing registration applications in **35 overseas countries**, and received approvals in Nigeria and Pakistan[65](index=65&type=chunk) - Another marketed product, Tizian® (Temozolomide Capsules), has been included in the National Centralized Drug Procurement list and continues to supply multiple provinces after winning bids[66](index=66&type=chunk) [Financial Position Analysis](index=26&type=section&id=Financial%20Position%20Analysis) In H1 2025, the company's revenue decreased by 6% to RMB 489 million, primarily due to a 32% drop in CDMO business revenue impacted by project delivery milestones, leading to an 87% year-on-year plunge in net profit to RMB 4.06 million due to reduced revenue, increased depreciation and amortization, and higher selling and administrative expenses; R&D expenses decreased by 23% through pipeline streamlining, operating cash flow remained healthy with a 25% increase, and investing cash outflow significantly reduced as project construction neared completion Key Financial Item Changes for H1 2025 (RMB Thousands) | Item | H1 2025 | H1 2024 | Reason for Change | | :--- | :--- | :--- | :--- | | Revenue | 489,140 | 520,603 | Some CDMO projects did not reach delivery milestones | | - Product Sales Revenue | 397,909 | 400,400 | Increased market competition | | - CDMO/CMO Revenue | 77,301 | 113,791 | Significant project milestones completed in prior period | | R&D Expenses | 35,628 | 46,059 | Pipeline streamlining, resources focused on CDMO | | Selling Expenses | 277,445 | 276,482 | Increased investment in overseas market promotion | | General and Administrative Expenses | 34,725 | 32,105 | Company expansion, management system enhancement | | Net Profit | 4,062 | 31,559 | Combined impact of revenue decline and increased expenses | - Net cash inflow from operating activities was **RMB 34.83 million**, a **25%** year-on-year increase, demonstrating effective working capital management[85](index=85&type=chunk) - Net cash outflow from investing activities significantly decreased to **RMB 26.51 million** (from RMB 68.78 million in the prior period), primarily due to the global R&D service center construction project nearing completion[85](index=85&type=chunk) [Other Information](index=30&type=section&id=Other%20Information) [Corporate Governance and Dividends](index=30&type=section&id=Corporate%20Governance%20and%20Dividends) The company's audit committee reviewed the financial statements for the period, the Board resolved not to declare an interim dividend for the six months ended June 30, 2025, and the company complied with the Corporate Governance Code and the Model Code for Securities Transactions by Directors during the reporting period - The Board resolved not to declare an interim dividend for the six months ended June 30, 2025[87](index=87&type=chunk) - The company confirmed compliance with the Corporate Governance Code and the Model Code for Securities Transactions by Directors of Listed Issuers as set out in the Listing Rules throughout the reporting period[88](index=88&type=chunk)[89](index=89&type=chunk) [Use of Proceeds from Subscription](index=30&type=section&id=Use%20of%20Proceeds%20from%20Subscription) The company provided a detailed disclosure on the use of net proceeds from the 2022 subscription, with approximately RMB 20.09 million utilized in H1 2025 and approximately RMB 18.13 million remaining unutilized, which the company intends to use according to previously announced and subsequently revised proposed uses - Regarding the proceeds from the 2022 subscription, approximately **RMB 18.13 million** remained unutilized as of June 30, 2025[94](index=94&type=chunk) - The company plans to utilize the remaining net proceeds according to the disclosed purposes, as revised by reallocations in 2024 and 2025[94](index=94&type=chunk)

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 東曜藥業股份有限公司 | | | 呈交日期: | 2025年8月5日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 | 1. 股份分類 | | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號(如上市) | | 01875 | | 說明 | | | | | | | | 股份期權計劃詳情 | | 上月底結存的股份期權數 目 | | 本月內變動 | | 本月底結存的股份期權數 目 | 本月內因此發行的新股數 目 (A1) | 本月内因此自庫存轉讓的 庫存股份數目 (A2) | 本月底因此可能發行或自 庫存轉讓的 ...

Core Viewpoint - Dongyao Pharmaceutical-B (01875.HK) has announced a board meeting scheduled for August 12, 2025, to consider and approve the interim results for the six months ending June 30, 2025, along with other matters [1] Summary by Category - **Company Announcement** - The company will hold a board meeting on August 12, 2025, to discuss the interim performance [1] - The meeting will focus on the financial results for the six months ending June 30, 2025 [1] - Other unspecified matters will also be addressed during the meeting [1]

董事會會議召開日期 BioDlink International Company Limited 東曜藥業股份有限公司 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1875） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 東曜藥業股份有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董事會（「董 事 會」）茲 通 告，本 公 司 謹 定 於2025年8月12日（星 期 二）舉 行 董 事 會 會 議，以 考 慮 及通過本集團截至2025年6月30日 止 六 個 月 中 期 業 績，以 及 處 理 其 他 事 項。 承董事會命 東曜藥業股份有限公司 劉軍博士 首席執行官兼執行董事 香 港，2025年7月31日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 劉 軍 博 士；本 公 司 非 執 行 董 事 為 付 山 先 生、 黃 純 瑩 女 士 ...

Core Viewpoint - The article discusses the upcoming 2025 AntibodyPlus Innovation Summit, highlighting the evolution of antibody drug development and the integration of various technologies in the biotech industry, particularly in China [5]. Background - The FDA approved the first monoclonal antibody in 1986, marking nearly 40 years of advancements in antibody therapies. The concept of AntibodyPlus was introduced by the Chinese Antibody Association in July 2021 to reflect new trends in antibody drug development, including combinations with cells, nucleic acids, small molecules, and peptides [5]. - The article emphasizes the diversification of antibody drugs, with new generations such as bispecific antibodies and antibody-drug conjugates (ADCs) gaining traction. Chinese biotech companies are increasingly participating in global markets through collaborations, mergers, and acquisitions [5]. Event Details - The 2025 AntibodyPlus Innovation Summit will take place on June 25-26, 2025, in Suzhou, China, bringing together top scientists, clinicians, multinational pharmaceutical companies, local biotech firms, and investors to discuss opportunities and challenges in the AntibodyPlus era [5]. Agenda Highlights - The summit will feature various sessions focusing on clinical needs, drug development, and international cooperation, including discussions on significant advancements in lung cancer treatments and the development of innovative antibodies for women's health and hair loss [10][11]. - Panels will address global pharmaceutical innovation trends, investment hotspots, and challenges faced in the development of new antibody therapies [11][15]. Concurrent Forums - The summit will include multiple forums, such as discussions on the next innovations in multi-antibody drugs and the development of conjugated drugs, with expert speakers sharing insights on clinical progress and market opportunities [13][21]. Networking Opportunities - The event will provide networking opportunities for attendees, including a private board meeting focused on global strategies for drug development and market entry [54].

Core Viewpoint - The collaboration between Kexing Pharmaceutical and Dongyao Pharmaceutical has led to the approval of a biosimilar product, Bevacizumab injection, by the Nigerian Food and Drug Administration, marking a significant advancement in the company's strategy in the African pharmaceutical market [1] Group 1 - The approved Bevacizumab injection is indicated for the treatment of metastatic colorectal cancer, advanced or metastatic or recurrent non-small cell lung cancer, recurrent glioblastoma, epithelial ovarian cancer, fallopian tube cancer, primary peritoneal cancer, and cervical cancer [1] - The approval signifies an important step for the company in establishing its presence in the core pharmaceutical market of Africa [1]

Financial Performance - The company achieved a significant milestone with annual revenue surpassing 1 billion RMB, marking its first profitable year[11]. - The company's revenue for 2024 reached RMB 1,098,329 thousand, a 41% increase from RMB 780,629 thousand in 2023[23]. - The net profit for 2024 was RMB 34,757 thousand, compared to a net loss of RMB 37,757 thousand in 2023, marking a turnaround[23]. - The company achieved an adjusted net profit of RMB 31,437 thousand in 2024, compared to an adjusted net loss of RMB 8,162 thousand in 2023[22]. - Adjusted EBITDA for 2024 was RMB 106,734 thousand, significantly up from RMB 40,041 thousand in 2023[22]. - The company's product sales revenue for 2024 reached RMB 877,410 thousand, an increase of RMB 247,203 thousand from RMB 630,207 thousand in 2023, primarily driven by steady growth in the core product Puxinting® sales[24]. - CDMO/CMO business revenue for 2024 was RMB 207,133 thousand, up RMB 66,235 thousand from RMB 140,898 thousand in 2023, due to continuous expansion in the CDMO/CMO sector[24]. - The company’s operating cash flow has been positive for three consecutive years, reaching RMB 116,403 thousand in 2024[55]. - The company turned a profit with a net profit of RMB 34,757 thousand for the year, marking a significant turnaround[57]. Research and Development - The company is focusing on the rapidly growing antibody-drug conjugate (ADC) market, which has seen increased global development and approval of ADC drugs[11]. - The newly launched BDKcellTM cell line construction technology platform can achieve a maximum expression level of 12g/L, significantly improving overall process efficiency[14]. - The DisacLinkTM glycoengineering technology platform has garnered significant attention from both domestic and international clients, accelerating the development and commercialization of innovative conjugated drugs[14]. - The company is actively pursuing strategic collaborations to build a biopharmaceutical R&D service platform, enhancing ADC drug development and CDMO services[14]. - The revenue and number of ADC projects in the company's pipeline are steadily increasing, with multiple pre-BLA projects progressing in an orderly manner[14]. - The company added 58 new projects in the year, including 48 ADC projects, bringing the total to 153 projects[57]. - The company has accumulated 8 pre-BLA (pre-Biologics License Application) projects, with 2 new additions in the year[69]. - The company has successfully completed multiple ADC and XDC projects, demonstrating strong delivery capabilities in late-stage clinical and commercialization projects, laying a solid foundation for long-term business development[78]. Market Strategy and Expansion - The company aims to deepen its international market presence and enhance cooperation with top global pharmaceutical companies[16]. - The company plans to continue investing in technological innovation and strengthen collaboration with research institutions[16]. - The company plans to complete its first overseas country approval and initiate commercialization by 2025[54]. - Future strategies include accelerating overseas market expansion and enhancing service quality to improve international operational levels and global market share[97]. - The ADC drug market is projected to grow from USD 10 billion in 2023 to USD 66.2 billion by 2030, with a compound annual growth rate of 30.3%[58]. Operational Excellence - The company has equipped four international-class commercial production lines to ensure high-standard production for client projects and improve production flexibility[13]. - The company has a unique integrated industrial platform with commercial production experience, positioning it as a leader in the CDMO sector[68]. - The company has received positive feedback from multinational pharmaceutical companies during audits, indicating high recognition of its quality system[69]. - The company established a comprehensive quality management system that meets the standards of China, the US, and the EU, ensuring compliance with regulatory requirements[70]. - The company has successfully passed 38 GMP audits in 2024, including 7 official GMP audits, demonstrating its commitment to quality management[70]. Governance and Management - The company appointed three independent non-executive directors, enhancing its governance structure[107]. - The new COO, Dr. Zhang Jian, has nearly 20 years of experience in the biopharmaceutical industry, focusing on production operations and supply chain management[110]. - The company’s new CTO, Ms. Yin Li, has over 30 years of experience in the chemical and biopharmaceutical sectors, overseeing ADC research and international business expansion[111]. - The company’s VP of Quality, Mr. Li Hongyang, brings extensive experience in quality management from multinational pharmaceutical companies[112]. - The company’s VP of Financial and Investor Relations, Ms. Xiao Bin, has a strong background in financial management and investor relations from previous roles in multinational firms[114]. - The board consists of a balanced mix of executive and non-executive directors, ensuring strong independence and effective decision-making[125]. - The company has established a strict written guideline for employees regarding securities trading, ensuring compliance with insider trading policies[124]. - The board has adopted a diversity policy, emphasizing the importance of board member diversity for maintaining competitive advantage[164]. Risk Management - The company is focused on risk management and has implemented measures to identify and manage overall business risks[123]. - The company confirmed their responsibility for the effectiveness of the risk management and internal control systems, which aim to manage significant risks rather than eliminate them[178]. - The company established a risk governance framework to identify, assess, resolve, monitor, and communicate key risks, including strategic, financial, operational, and compliance risks[178]. - The audit and related party transaction review committee assists the board in overseeing the design, implementation, and monitoring of risk management and internal control systems[182]. Corporate Social Responsibility - The company is committed to fulfilling social responsibilities by providing high-quality medicines to meet patient needs[16]. - The company aims to provide satisfactory and sustainable returns to its investors and shareholders while balancing the interests of stakeholders including employees, customers, and suppliers[123]. - The company is committed to becoming a trusted partner in the global biopharmaceutical field, contributing more to human health[97].

SDICSI 2025 年 3 月 19 日 东曜药业-B (1875.HK) 朴欣汀收入同比增长 42%，预计 2025 年完成首个海外国家获批。 2024 年公司产品收入为 8.77 亿元，同比增长 39%，主要来自核心产品朴欣汀的 贡献。朴欣汀于 2021 年上市，2022 年纳入乙类医保目录，已覆盖原研药 Avastin 在中国大陆获批的六项适应症。2024 年朴欣汀销售收入同比增长 42%。 截至 2024 年 12 月 31 日，公司已启动 34 个海外国家的上市注册申请工作，已 有 20 个国家的上市申请文件获得受理，产品已取得哥伦比亚、埃及以及印尼等 国家的 GMP 证书，预计 2025 年完成首个海外国家获批，为全球化战略发展奠 定重要里程碑。 投资建议：我们预计公司 2025-2027 年收入分别为 12.8 亿元/13.3 亿元/14.2 亿 元，净利润分别为 47 百万元/82 百万元/138 百万元。 首次扭亏为盈，经营现金流连续三年正向 事件：2024 年业绩首次扭亏为盈，经营活动现金净额连续三年持续正向。 报告摘要 首次扭亏为盈，经营活动现金净额连续三年持续正向。 2024 年公 ...