Shang Hai Zheng Quan Bao·2025-05-13 19:36Core Viewpoint - The company, Nuo Cheng Jian Hua, reported significant growth in revenue and profit for the first quarter of 2025, driven by the sales of its core product, Abrucept, and a licensing agreement with Prolium Bioscience Inc [3][4]. Financial Performance - For Q1 2025, the company achieved total revenue of 381 million RMB, a year-on-year increase of 129.92%, with a gross margin of 90.5%, up from 85.4% in the same period last year [3]. - The net profit for Q1 2025 was 14 million RMB, marking a return to profitability compared to the same period last year [3]. Product Sales - Sales revenue from Abrucept reached 311 million RMB in Q1 2025, representing a year-on-year growth of 89.22% [4]. - In April 2025, Abrucept received approval for a new indication for first-line treatment of chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL) in adult patients [4]. Strategic Partnerships - On May 13, 2025, the company's subsidiary signed a strategic cooperation framework agreement with West Lake University to collaborate on innovative drug research and development, platform construction, talent cultivation, and achievement transformation [11][13]. - The total funding support for the collaborative projects is capped at 54 million RMB, which will be paid based on project milestones [11][17]. Shareholder Information - As of March 31, 2025, the company had approximately 7.778 billion RMB in cash and cash equivalents, indicating a strong liquidity position to support ongoing project development [5]. - The total number of shares issued by the company is 1,762,567,202, with 84.89% listed in Hong Kong and 15.11% on the Shanghai Stock Exchange [6]. Governance and Compliance - The board of directors confirmed that the quarterly report is accurate and complete, with no false statements or significant omissions [2][10]. - The strategic cooperation agreement with West Lake University was approved by the board and does not require shareholder meeting approval, as it falls within the board's decision-making authority [12][22].