Zheng Quan Shi Bao Wang·2025-05-07 14:41Core Viewpoint - BeiGene achieved its first quarterly profit under GAAP in Q1 2025, maintaining its previous financial guidance while experiencing significant revenue growth [1][2]. Financial Performance - In Q1 2025, BeiGene reported revenue of 8.048 billion RMB, a year-on-year increase of 50.2% [1]. - Product revenue contributed 7.985 billion RMB, driven by sales growth of self-developed products such as Brukinsa (Zebutinib) and Tislelizumab [1]. - The company achieved a GAAP profit of 1.27 million USD, marking a shift from losses to profitability in its A-share financial data, with a net profit attributable to shareholders of -0.095 billion RMB [1]. Product Sales - Brukinsa generated global sales of 5.692 billion RMB in Q1, reflecting a 63.7% year-on-year increase, with U.S. sales reaching 4.041 billion RMB, up 61.9% [1]. - In Europe, Brukinsa sales totaled 0.836 billion RMB, a 75.4% increase year-on-year [1]. - Tislelizumab sales amounted to 1.245 billion RMB in Q1, a 19.3% increase, primarily due to new patient demand from recently approved indications in China [2]. Strategic Outlook - The company plans to expand Brukinsa's global regulatory registration projects, expecting FDA and EC approvals for new tablet formulations in H2 2025 [2]. - Tislelizumab is anticipated to receive EC approval for new indications in non-small cell lung cancer and nasopharyngeal carcinoma in 2025 [2]. - BeiGene aims to maintain its financial guidance for 2025, projecting total revenue between 35.2 billion RMB and 38.1 billion RMB, with positive operating profit and cash flow from operations [3]. R&D Progress - BeiGene is making significant advancements in its pipeline for late-stage hematologic and solid tumors, with expected data readouts in antibody-drug conjugates, multispecific antibodies, and targeted protein degraders [3].