翰森制药(03692) - 2025 - 中期业绩

Financial Performance - The company reported revenue of approximately RMB 7.434 billion, representing a year-on-year increase of about 14.3%[5] - Profit amounted to approximately RMB 3.135 billion, reflecting a year-on-year growth of about 15.0%[5] - Basic earnings per share were approximately RMB 0.053, an increase of about 14.8% compared to the same period last year[5] - For the six months ended June 30, 2025, the company recorded revenue of approximately RMB 7.434 billion, representing a year-on-year growth of about 14.3%[14] - The company's profit for the same period was approximately RMB 3.135 billion, an increase of about 15.0% compared to the previous year[14] - The basic earnings per share were approximately RMB 0.53, reflecting a year-on-year increase of about 14.8%[14] - Gross profit for the same period was RMB 6,772,773,000, up from RMB 5,926,283,000, indicating a growth of 14.3%[57] - The company achieved a profit before tax of RMB 3,688,152,000, compared to RMB 3,118,186,000 in the previous year, reflecting an increase of 18.3%[57] - Net profit for the period was RMB 3,134,929,000, which is a 15.0% increase from RMB 2,725,525,000 in 2024[57] - Basic and diluted earnings per share were both RMB 0.53, compared to RMB 0.46 in the previous year, marking a 15.2% increase[57] Revenue Sources - Revenue from innovative drugs and collaborative products reached approximately RMB 6.145 billion, up approximately 22.1% year-on-year, accounting for about 82.7% of total revenue[5] - Revenue from the oncology segment was approximately RMB 4.531 billion, representing about 60.9% of total revenue[15] - Sales revenue from innovative drugs and collaborative products reached approximately RMB 6.145 billion, accounting for about 82.7% of total revenue[14] - Revenue from product sales was RMB 5,776,795,000, up from RMB 5,103,080,000, reflecting a growth of 13.2% year-over-year[68] Research and Development - R&D expenses were approximately RMB 1.441 billion, an increase of about 20.4% year-on-year, representing approximately 19.4% of total revenue[5] - The company has multiple new drug applications and clinical trial approvals, including HS-20093 for osteosarcoma and HS-10561 for chronic spontaneous urticaria[8][9] - The company is focused on expanding its product pipeline in oncology and autoimmune diseases, with several drugs in various stages of clinical trials and approvals[6] - The company has over 70 ongoing clinical trials across more than 40 candidate innovative drugs as of June 30, 2025[31] - The company incurred approximately RMB 191 million in R&D expenses for advancing multiple licensed projects during the reporting period[39] - The company established a robust R&D platform with over 1,900 researchers across four centers in the U.S. and China[30] Product Approvals and Innovations - The company achieved a breakthrough therapy designation from the FDA for its B7-H3 targeted antibody-drug conjugate (ADC) for treating relapsed or refractory osteosarcoma[7] - The company’s innovative drug, XinYue® (Inalizumab injection), received priority review status from the NMPA for a new indication to treat IgG4-related disease[7] - The innovative drug Aumseqa® received approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for use as a first-line treatment for adult patients with advanced or metastatic NSCLC with activated EGFR mutations[17] - Aumseqa® has been included in eight national clinical guidelines, including the CSCO guidelines for NSCLC treatment[17] - The company has successfully expanded its innovative drug portfolio, with Aumseqa® gaining approval for two new indications during the reporting period[18] - HaoSen XinFu® (甲磺酸氟馬替尼片) is the first innovative second-generation TKI for chronic myeloid leukemia in China, achieving molecular response faster and deeper than other treatments, with a growing patient population[19] - XinYue® (伊奈利珠單抗注射液) received NMPA approval for treating AQP4 antibody-positive NMOSD in March 2022 and was included in the national medical insurance directory in January 2023, with successful renewal for 2024[21] - Fulaimei® (聚乙二醇洛塞那肽注射液) is the first domestically developed GLP-1 receptor agonist approved for type 2 diabetes, with confirmed efficacy in blood sugar reduction and low incidence of adverse events, included in the national medical insurance directory since 2020[23] - Hengmu® (艾米替諾福韋片) is the first oral antiviral drug for chronic hepatitis B in China, with long-term efficacy and safety data published, and included in the national medical insurance directory since 2021[25] - Shengluo Lai® (培莫沙肽注射液) is the only approved small molecule peptide drug for treating anemia due to chronic kidney disease, with favorable clinical trial results showing comparable efficacy to traditional treatments[28] Financial Position and Cash Flow - The company reported a net cash inflow of RMB 3.605 billion from operating activities for the six months ended June 30, 2025, with capital expenditures of RMB 245 million[46] - As of June 30, 2025, the company had cash and bank deposits totaling RMB 27.104 billion, an increase from RMB 22.622 billion as of December 31, 2024[47] - The company's asset-liability ratio was approximately 11.3% as of June 30, 2025, compared to 9.4% as of December 31, 2024, indicating a stable financial condition[47] - Cash and bank balances increased to RMB 27,103,694,000 as of June 30, 2025, up from RMB 22,621,566,000 at the end of 2024[60] - Total assets less current liabilities amounted to RMB 31,470,393,000, compared to RMB 28,962,631,000 in the previous year[61] Corporate Governance and ESG - The company maintained an MSCI ESG rating of AA and was recognized as one of the top 1% in the Chinese pharmaceutical industry by S&P Global[14] - The company is committed to long-term sustainable development, as evidenced by its ongoing improvements in ESG performance[14] - The board continues to monitor ESG strategies and risks, ensuring alignment with long-term corporate goals[45] - The company maintained compliance with corporate governance codes, with the board confirming adherence to all applicable provisions except for the separation of the roles of chairman and CEO[81] - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[84] Shareholder Information - The company declared a dividend of HKD 0.1353 per share for the fiscal year 2024, totaling approximately RMB 734,910,000, compared to RMB 768,760,000 for the previous year[74] - The board declared an interim dividend of HKD 0.2316 per share for the six months ended June 30, 2025, compared to HKD 0.2010 for the same period in 2024, representing an increase of approximately 10.5%[86] - The record date for the interim dividend is September 25, 2025, with a suspension of share transfer registration from September 24 to September 25, 2025[86]