Core Viewpoint - The report highlights the financial performance of Baotai Biopharmaceutical Co., Ltd. for the first half of 2025, indicating a growth in revenue but a significant loss in net profit compared to the previous year [1][2]. Financial Summary - Total assets at the end of the reporting period amounted to CNY 2,246.69 million, reflecting a 1.87% increase from the previous year [1]. - The net assets attributable to shareholders decreased by 17.65% to CNY 583.12 million compared to the previous year [1]. - Operating revenue reached CNY 441.89 million, representing a 9.84% increase year-on-year [1]. - The total profit for the period was a loss of CNY 124.77 million, an improvement from a loss of CNY 236.85 million in the same period last year [2]. - The net profit attributable to shareholders was a loss of CNY 124.93 million, compared to a loss of CNY 236.85 million in the previous year [2]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 171.20 million, improving from a loss of CNY 270.33 million year-on-year [2]. - The net cash flow from operating activities was a negative CNY 0.81 million, a significant improvement from a negative CNY 63.26 million in the previous year [2]. - The weighted average return on net assets was -19.35%, an increase of 2.29 percentage points from -21.64% in the previous year [2]. - Basic and diluted earnings per share were both -CNY 0.57, compared to -CNY 0.30 in the previous year [2]. - Research and development expenses accounted for 78.94% of operating revenue, a decrease of 21.12 percentage points [2]. Shareholder Information - As of the end of the reporting period, the total number of shareholders was 9,481 [2]. - Major shareholders include Guangzhou Qixi Group Co., Ltd. with 38.64% ownership and Therabio International Limited with 11.39% ownership [3][4].

Core Viewpoint - The company has signed a licensing and commercialization agreement with STADA for BAT1806 (Tocilizumab) injection, granting STADA exclusive commercialization rights in several regions, which is expected to positively impact the company's future performance [1][2][3] Agreement Summary - The agreement allows STADA to commercialize BAT1806 in the EU, Switzerland, the UK, parts of Europe, the MENA region, and CIS countries [1][2] - The total transaction amount can reach up to €136 million, including an upfront payment of €8.5 million and milestone payments not exceeding €127.5 million, along with a double-digit percentage of net sales as revenue sharing [2][6] - The agreement will be effective upon approval by the company's shareholders and will last for an initial period of 15 years, automatically extending for 2 years unless either party provides written notice to terminate [2][6] Product and Partner Information - BAT1806 is a biosimilar developed according to guidelines from NMPA, FDA, and EMA, targeting the IL-6 receptor [3] - STADA is a well-established European pharmaceutical company with a focus on consumer health, generics, and specialty pharmaceuticals, achieving €4.059 billion in sales and €886 million in adjusted EBITDA in the 2024 fiscal year [3] Impact on Company Performance - The agreement is expected to enhance the company's global commercialization and profitability, leveraging STADA's strengths in research, production quality control, and market promotion [6][7] - The successful execution of this agreement is anticipated to have a positive impact on the company's future operating performance [6][7]

Core Viewpoint - The company plans to use up to RMB 100 million of idle raised funds to temporarily supplement its working capital, ensuring that this does not affect the progress of its investment projects and complies with relevant regulations [19][20][21]. Fundraising Overview - The company raised a total of RMB 2 billion through the issuance of 60 million shares at RMB 32.76 per share, with the funds verified by Ernst & Young [2][3]. - The funds are stored in a special account and managed under a tripartite supervision agreement with the sponsor and the bank [3]. Investment Project Situation - The company has outlined its investment priorities in its prospectus, with a total expected fundraising usage of RMB 2 billion [4]. - If the actual net amount raised is less than the total required for the projects, the company will use self-raised funds to cover the shortfall [4]. Previous Use of Idle Funds - The company has previously used idle funds for cash management and to temporarily supplement working capital, with amounts up to RMB 1 billion approved in various instances [6][8][10][12][14]. - All previously used funds for temporary working capital have been returned to the special account by the specified deadlines [6][8][12][14]. Current Proposal for Idle Funds - The current proposal allows for the use of up to RMB 100 million of idle funds for working capital, with a usage period not exceeding 12 months [19][20]. - The funds will be used solely for business expansion and daily operations related to the company's main business, without affecting the investment plans [19]. Approval Process - The proposal was approved by the board of directors and complies with relevant laws and regulations, ensuring the protection of shareholder interests [20][21]. - The audit committee has also expressed agreement with the proposal, confirming that it aligns with the company's operational and financial strategies [20][21].

来源：上海证券报·中国证券网 上证报中国证券网讯 8月20日晚，百奥泰发布了2025年半年报，上半年公司实现营业收入4.42亿元，同比增长9.84%，主要得益于公司积极拓展市场，阿达木单抗注射液(格乐立®)及托珠单抗 报告期内，公司利润总额、净利润和扣非净利润较上年同期分别减少亏损1.12亿元、1.12亿元和9913.69万元，主要原因是本报告期营业收入增长及研发费用减少所致。 报告期内，公司经营活动产生的现金流量净流出额较上年同期减少6244.57万元，主要原因是本报告期销售商品、提供劳务收到的现金增加，以及研发费用减少所致。 公司秉承"创新只为生命"的理念，坚持创新驱动发展战略，致力于开发新一代创新药和生物类似药，用于治疗肿瘤、自身免疫性疾病、心血管疾病、眼科以及其它危及人类生命或健康的重大疾病 截至本报告披露日，公司已有5款上市产品，其中有4款产品获NMPA上市批准，包括：格乐立®(阿达木单抗)、普贝希®(贝伐珠单抗)、施瑞立®(托珠单抗)和贝塔宁®(枸橼酸倍维巴肽)；3款产 ...

Core Viewpoint - The company Baiotai (688177) has signed a licensing and commercialization agreement with STADA Arzneimittel AG for the exclusive commercialization rights of its BAT1806 (Tocilizumab) injection in various regions, aiming to enhance its global strategy and core competitiveness [1] Group 1: Agreement Details - The total amount for the transaction, including upfront and milestone payments, can reach up to €136 million, comprising an upfront payment of €8.5 million and milestone payments not exceeding €127.5 million [1] - The agreement also includes a revenue-sharing model based on a double-digit percentage of net sales [1] Group 2: Strategic Implications - The signing of this agreement is intended to rapidly convert the company's research and development achievements into economic benefits through commercial cooperation and licensing [1] - The collaboration with STADA is expected to integrate advantages in advanced research, production quality control, technology enhancement, clinical application, and commercial promotion, creating favorable conditions for the company's global strategy [1]

2025年8月21日，百奥泰(688177.SH)发布2025年中报。 公司营业总收入为4.42亿元。归母净利润为-1.25亿元。经营活动现金净流入为-81.43万元。 公司最新资产负债率为74.05%，较上季度资产负债率增加0.25个百分点，较去年同期资产负债率增加15.56个百分点。 公司股东户数为9481户，前十大股东持股数量为3.14亿股，占总股本比例为75.85%，前十大股东持股情况如下： | 序号 | 股东名称 | 持股 | | --- | --- | --- | | l | 广州七喜集团有限公司 | 38.6 | | 2 | Therabio International Limited | 11.3 | | 3 | 新余兴奥企业管理合伙企业(有限合伙) | 5.60 | | 4 | 广州中科粤创孵化器投资管理有限公司-广州中科粤创三号创业投资合伙企业(有 限合伙) | 5.15 | | 5 | 新余市启恒管理咨询合伙企业(有限合伙) | 3.90 | | 6 | 新余臻合企业管理合伙企业(有限合伙) | 3.86 | | 7 | 易良量 | 2.84 | | 8 | 广州返湾湖投资合伙企业(有限 ...

公告显示，BAT1806(托珠单抗)是百奥泰根据中国 NMPA、美国FDA、欧洲EMA生物类似药相关指导原 则开发的托珠单抗注射液，是一款靶向白介素-6 受体(IL-6R)的重组人源化单克隆抗体，可与可溶性及 膜结合型IL-6 受体(sIL-6R和 mIL-6R)特异性结合，并抑制由 sIL-6R 和 mIL-6R 介导的信号传导。截至 公告披露日，BAT1806(托珠单抗)已获得中国 NMPA、美国FDA、欧洲EMA的上市批准，中国商品名为 施瑞立®，美国商品名为 TOFIDENCE®。 本次协议的签署，旨在将公司研发成果通过商业合作及许可授权的方式快速转化为公司效益，本次公司 与STADA 的合作，可以将国际先进的研发、生产质控、技术提升、临床应用及商业推广等方面的优势 进行有机结合，为公司的全球策略创造有利条件，对提升公司核心竞争力具有良好的推动作用。 格隆汇8月21日丨百奥泰(688177.SH)公布，公司与STADA签署授权许可与商业化协议，将公司的 BAT1806(托珠单抗)注射液在欧盟、瑞士、英国、其它部分欧洲国家、部分中东与北非地区(MENA)和 部分独立国家联合体(CIS)国家市场的独占的产 ...

格隆汇8月21日丨百奥泰(688177.SH)公布，公司与STADA签署授权许可与商业化协议，将公司的 BAT1806(托珠单抗)注射液在欧盟、瑞士、英国、其它部分欧洲国家、部分中东与北非地区(MENA)和 部分独立国家联合体(CIS)国家市场的独占的产品商业化权益有偿许可给 STADA(以下简称"协议"或"本 协议")。首付款及里程碑款总金额最高至 1.36 亿欧元，其中包括850万欧元首付款、累计不超过 1.275 亿欧元里程碑付款，以及净销售额的两位数百分比作为收入分成。 公告显示，BAT1806(托珠单抗)是百奥泰根据中国 NMPA、美国FDA、欧洲EMA生物类似药相关指导原 则开发的托珠单抗注射液，是一款靶向白介素-6 受体(IL-6R)的重组人源化单克隆抗体，可与可溶性及 膜结合型IL-6 受体(sIL-6R和 mIL-6R)特异性结合，并抑制由 sIL-6R 和 mIL-6R 介导的信号传导。截至 公告披露日，BAT1806(托珠单抗)已获得中国 NMPA、美国FDA、欧洲EMA的上市批准，中国商品名为 施瑞立®，美国商品名为 TOFIDENCE®。 据悉，STADA 为一家历史悠久的欧洲优质医 ...

证券代码：688177 证券简称：百奥泰 公告编号：2025-058 百奥泰生物制药股份有限公司 关于与 STADA 就 BAT1806（托珠单抗）注射液签 署授权许可与商业化协议的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示: 协议内容摘要： 百奥泰生物制药股份有限公司（以下简称"百奥泰"或"公司"）与 STADA Arzneimittel AG （以下简称"STADA"）签署授权许可与商业化协议，将公司的 BAT1806（托珠单抗）注射液在欧盟、瑞士、英国、其它部分欧洲国家、部分 中东与北非地区（MENA）和部分独立国家联合体（CIS）国家市场的独占的产 品商业化权益有偿许可给 STADA（以下简称"协议"或"本协议"）。 交易标的名称：BAT1806（托珠单抗）注射液在欧盟、瑞士、英国、其它部 分欧洲国家、部分中东与北非地区（MENA）和部分独立国家联合体（CIS）国 家市场的独占的产品商业化权益。 交易金额：首付款及里程碑款总金额最高至 1.36 亿欧元，其中包括 850 万 欧元首付款、累计 ...

Core Viewpoint - The company Baiotai (688177.SH) has signed a licensing and commercialization agreement with STADA Arzneimittel AG for its BAT1806 (Tocilizumab) injection, granting STADA exclusive commercialization rights in several regions, which is expected to positively impact the company's future performance and enhance its global commercialization and profitability [1] Group 1 - The agreement involves the exclusive commercialization rights of BAT1806 (Tocilizumab) injection in the EU, Switzerland, the UK, parts of Europe, the MENA region, and certain CIS countries [1] - The total transaction amount can reach up to €136 million, including an upfront payment of €8.5 million and milestone payments not exceeding €127.5 million, along with a double-digit percentage of net sales as revenue sharing [1] - The agreement will take effect after approval by the company's shareholders [1]