HUADONG MEDICINE(SZ:000963) Zheng Quan Ri Bao Wang·2025-08-19 12:16Core Viewpoint - Huadong Medicine reported a steady growth in its performance for the first half of 2025, with revenue and net profit showing positive year-on-year increases, indicating a robust operational trend and commitment to shareholder returns through dividends [1] Financial Performance - In the first half of 2025, Huadong Medicine achieved total revenue of 21.675 billion yuan, a year-on-year increase of 3.39% [1] - The company reported a net profit attributable to shareholders of 1.815 billion yuan, up 7.01% year-on-year, and a net profit excluding non-recurring items of 1.762 billion yuan, reflecting an 8.40% increase [1] - A mid-year dividend of 614 million yuan is proposed, representing 33.83% of the net profit for the first half of 2025 [1] Business Segments - The core subsidiary, Zhongmei Huadong, maintained a strong growth trend with revenue of 7.317 billion yuan, a 9.24% increase year-on-year, and a net profit of 1.580 billion yuan, up 14.09% [2] - The second quarter alone saw revenue of 3.696 billion yuan, a 12.04% increase, and a net profit of 737 million yuan, reflecting a 16.34% growth [2] - Innovative product sales and agency services generated 1.084 billion yuan, marking a significant 59% year-on-year increase [2] Product Development and Innovation - The company is advancing its research and development efforts, with a 33.75% increase in R&D investment to 1.484 billion yuan in the first half of 2025 [4] - Direct R&D spending reached 1.174 billion yuan, a 54.21% increase, accounting for 15.97% of the pharmaceutical industrial revenue [4] - Huadong Medicine is developing over 80 innovative drug pipelines across three core therapeutic areas: oncology, endocrinology, and autoimmune diseases [4] Strategic Collaborations and Market Expansion - The CAR-T product, Zekai Ze (注射液), has received positive clinical feedback and is expanding its market coverage, with over 20 provinces certified for medical institution use [2] - The collaboration with Quanxin Biotech on the drug Seluxin has seen over 1,200 hospitals prescribing it since its approval in November 2024 [3] Industrial and Commercial Growth - The pharmaceutical commercial segment achieved revenue of 13.947 billion yuan, a 2.91% increase, with a net profit of 226 million yuan, up 3.67% [7] - The industrial microbiology segment reported sales of 368 million yuan, a 29% increase year-on-year, focusing on xRNA raw materials and other core business areas [7] - The aesthetic medicine sector has established a comprehensive high-end product line, with 40 international products, 26 of which are already on the market [7]