Core Viewpoint - The company expects its revenue for 2025 to be between 35.8 billion and 38.1 billion yuan, with a significant increase attributed to its leading position in the U.S. market and ongoing expansion in Europe and other key global markets [1] Revenue and Expenses - The projected revenue growth is primarily driven by the strong market presence of Baiyueze in the U.S. and its continuous expansion in Europe and other important global markets [1] - Research and development expenses, along with sales and management expenses, are expected to total between 29.5 billion and 31.9 billion yuan [1] Profitability - The gross margin is anticipated to be in the mid-to-high range of 80% to 90%, with improvements attributed to better product mix and increased production efficiency [1]

Core Insights - The company reported a significant increase in product revenue and total revenue for the first half of 2025, with product revenue reaching 17.36 billion yuan, a year-on-year increase of 45.8%, and total revenue at 17.52 billion yuan, up 46.0% from the previous year [1] Financial Performance - For the first half of 2025, the net profit attributable to the parent company was 450 million yuan [1] - Total assets at the end of the reporting period amounted to 44.87 billion yuan, reflecting a 4.8% increase from the beginning of the period [1] - Equity attributable to the parent company increased by 11.1% to 26.86 billion yuan [1] Product Sales Performance - The global sales of Baiyueze (Zebutinib capsules) totaled 12.53 billion yuan, marking a 56.2% year-on-year growth, solidifying its leadership in the hematologic oncology field [2] - Sales in the United States reached 8.96 billion yuan, a 51.7% increase, driven by strong demand across all indications and favorable net pricing [2] - European sales amounted to 1.92 billion yuan, up 81.4%, attributed to increased market share in major European markets including Germany, Italy, Spain, France, and the UK [2] - In China, sales were 1.19 billion yuan, a 36.5% increase, due to growth in approved indications [2] Additional Product Insights - Sales of Baizean (Tislelizumab injection) totaled 2.64 billion yuan, reflecting a 20.6% year-on-year increase, driven by new patient demand from newly approved indications included in medical insurance [2] - Baizean has achieved a leading market share in the PD-1 market in China [2]

Core Insights - The company reported a strong performance in Q2 2025, with total revenue reaching $1.3 billion, a 42% year-over-year increase [1] - The global revenue from Baiyueze (Zebutinib) was $950 million, reflecting a 49% growth compared to the previous year [1] - GAAP net profit for Q2 2025 was $94 million, an increase of $215 million from the previous year's loss, driven by revenue growth and operational leverage improvements [1] Financial Performance - Gross margin for global product revenue was 87.4% in Q2 2025, up from 85.0% in the same period last year [1] - Adjusted gross margin (excluding depreciation and amortization) increased to 88.1% in Q2 2025, compared to 85.4% in the prior year [1] - The company expects full-year total revenue guidance for 2025 to be between $5 billion and $5.3 billion, supported by strong growth expectations for Baiyueze in the U.S. and continued expansion in Europe and other key markets [1] Strategic Outlook - The company anticipates over 20 milestone advancements in its hematologic and solid tumor pipelines within the next 18 months [1][2] - Baiyueze is positioned as a best-in-class BTK inhibitor with the broadest range of approved indications, maintaining a leading advantage in the U.S. market due to its efficacy and safety profile [2] - Two additional hematologic products, a BCL2 inhibitor and a BTK chimeric degradation activating compound (CDAC), are in Phase 3 clinical trials and are expected to announce key data and initiate new clinical trials soon [2]

Core Viewpoint - Company BeiGene announced an upward revision of its revenue forecast for 2025, expecting revenue to be between RMB 35.8 billion and RMB 38.1 billion, an increase of RMB 600 million from the previous estimate [1] Revenue and Expenses - The company anticipates total R&D, sales, and management expenses to be between RMB 29.5 billion and RMB 31.9 billion, consistent with prior adjustments [1] - The gross margin is expected to be in the mid-to-high range of 80% to 90%, also revised upward from previous estimates [1] Cash Flow and Profitability - The company expects its annual revenue to exceed the total of its cost of goods sold, sales expenses, management expenses, and R&D expenses [1] - The net cash flow from operating activities, after deducting capital expenditures for fixed asset purchases, is projected to be positive [1]

本公告所载的百济神州有限公司（以下简称"百济神州"或"公司"）2025 年半年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以公司 2025 年半年度报告中披露的数据为准，提请投资者注意投资风险。 A 股代码：688235 A 股简称：百济神州 公告编号：2025-028 港股代码：06160 港股简称：百济神州 美股代码：ONC 百济神州有限公司 2025年半年度主要财务数据公告 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。 特别提示： 本公告财务数据按中国企业会计准则编制并呈列。 本公司已于 2025 年 8 月 6 日同步发布了根据美国公认会计原则及美国证券交 易委员会适用规则编制的截至 2025 年 6 月 30 日止三个月及六个月未经审计财务业 绩，提请投资者注意与本公告区别。 1 一、2025 年半年度主要财务数据和指标 单位：人民币千元 | 项目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | --- | --- | --- | --- | | 营业总收入 | 17,518,269 ...

A 股代码：688235 A 股简称：百济神州 公告编号：2025-029 港股代码：06160 港股简称：百济神州 | | 调整前 2025 | 年度经营业绩预 | | 调整后 2025 | 年度经营业绩预 | | | --- | --- | --- | --- | --- | --- | --- | | | | 测 | | | 测 | | | 营业收入 | 将介于人民币 | 亿元至 352 | 381 | 将介于人民币 | 358 | 亿元至 381 | | | | 亿元之间 | | | 亿元之间 | | | 研发费用、销售及管理费 | 将介于人民币 | 295 亿元至 | 319 | 将介于人民币 | 295 | 亿元至 319 | | 用合计 | | 亿元之间 | | | 亿元之间 | | 1 | 毛利率 % | 80%至 90%的中位区间 | 80%至 90%的中高位区间 | | --- | --- | --- | | 营业收入扣除营业成本、 研发费用、销售及管理费 | 全年营业收入预计将大于营业 成本、销售费用、管理费用及 | 全年营业收入预计将大于营业 成本、销售费用、管理费用及 | | 用 | ...

百济神州8月6日公告，第二季度总收入达13亿美元，同比增长42%。第二季度，基本和稀释每股收益分 别为0.07美元和0.06美元，基本和稀释每股美国存托股份（ADS）收益分别为0.87美元和0.84美元；上年 同期基本每股亏损为0.09美元，基本每股ADS亏损为1.15美元。 ...

智通财经APP讯，百济神州(06160)发布截至2025年6月30日止三个月及六个月未经审核业绩，2025年第 二季度总收入为13.15亿美元，同比增加41.56%;净利润9432万美元，上年同期净亏损1.2亿美元;每股基 本收益0.07美元。 于2025年上半年，实现总收入24.33亿美元，同比增加44.73%;净利润9559万美元，上年同期净亏损3.72 亿美元;每股基本收益0.07美元。 公告称，第二季度总收入增长主要得益于百悦泽® (泽布替尼)在美国和欧洲的销售额增长。 2025年第二 季度，产品收入为13亿美元，上年同期为9.21亿美元。产品收入增长主要得益于百悦泽®销售额增长。 美国仍是公司最大的市场，产品收入达6.85亿美元，上年同期为4.79亿美元。从安进公司获得授权许可 的产品和百泽安® (替雷利珠单抗)的销售也对产品收入增长做出贡献。 "第二季度强劲的表现，进一步巩固了公司在全球肿瘤治疗领域的领先地位，并充分证明了我们实现可 持续、长期增长的能力。"百济神州联合创始人、董事长兼首席执行官欧雷强先生表示，"我们目标明 确，正在不断朝着使命前进，致力于为全球更多患者带来突破性药物。百悦泽®作为 ...

Core Viewpoint - The company reported strong financial performance for the second quarter of 2025, indicating significant growth in revenue and a shift from losses to profitability, primarily driven by the sales of its core product, 百悦泽 (Zebutinib) [1][2] Financial Performance - For Q2 2025, total revenue reached $1.315 billion, a year-on-year increase of 41.56%; net profit was $94.32 million, compared to a net loss of $120 million in the same period last year; basic earnings per share were $0.07 [1] - In the first half of 2025, total revenue was $2.433 billion, up 44.73% year-on-year; net profit was $95.59 million, compared to a net loss of $372 million in the previous year; basic earnings per share remained at $0.07 [1] Product Performance - The revenue growth in Q2 2025 was mainly attributed to the increase in sales of 百悦泽 (Zebutinib) in the U.S. and Europe, with product revenue of $1.3 billion compared to $921 million in the same period last year [1] - The U.S. remains the largest market for the company, with product revenue of $685 million, up from $479 million year-on-year [1] - Sales from licensed products from Amgen and 百泽安 (Tislelizumab) also contributed to the growth in product revenue [1] Strategic Outlook - The company aims to solidify its leading position in the global oncology treatment market and is focused on sustainable long-term growth [2] - 百悦泽 is positioned as a best-in-class BTK inhibitor with the broadest range of approved indications, maintaining a leading advantage in the U.S. market due to its efficacy and safety [2] - The company plans to announce key data from two blood cancer products currently in Phase 3 clinical trials and expects over 20 R&D milestones in the next 18 months [2] Revenue Guidance - The company projects total revenue for 2025 to be between $5 billion and $5.3 billion, driven by the strong performance of 百悦泽 in the U.S. and continued expansion in Europe and other key markets [2] - Gross margin is expected to be in the mid-to-high 80% range due to improved product mix and production efficiency [2] - The guidance for GAAP operating expenses includes expected investments to support commercialization and research growth, with non-GAAP operating expenses anticipated to follow the same trend [2]

Core Insights - The company reported a strong performance in Q2 2025, with total revenue reaching $1.3 billion, a 42% year-over-year increase [1] - The global revenue from Baiyueze (Zebutinib) was $950 million, reflecting a 49% growth compared to the previous year [1] - GAAP net profit for Q2 2025 was $94 million, an increase of $215 million compared to the loss in the same period last year, driven by revenue growth and operational leverage improvements [1] Financial Performance - Gross margin for global product revenue was 87.4% in Q2 2025, up from 85.0% in the same period last year, attributed to the higher sales proportion of Baiyueze [1] - Adjusted gross margin (excluding depreciation and amortization) increased to 88.1% in Q2 2025 from 85.4% year-over-year [1] - The company projects total revenue for 2025 to be between $5 billion and $5.3 billion, supported by strong growth expectations for Baiyueze in the U.S. and continued expansion in Europe and other key markets [1] Product and Pipeline Development - Baiyueze is positioned as a leading BTK inhibitor with the broadest range of approved indications, maintaining a competitive edge in the U.S. market due to its efficacy and safety profile [2] - The company anticipates over 20 milestone developments in its blood cancer and solid tumor pipelines within the next 18 months [1][2] - Two additional blood cancer products, a BCL2 inhibitor and a BTK chimeric degradation activating compound (CDAC), are in Phase 3 clinical trials and are expected to announce key data soon [2]