Hengrui Pharma(SH:600276) Zheng Quan Ri Bao Wang·2025-08-20 14:13Core Insights - Jiangsu Hengrui Medicine Co., Ltd. reported a revenue of 15.761 billion yuan for the first half of 2025, marking a year-on-year increase of 15.88% [1] - The net profit attributable to shareholders reached 4.45 billion yuan, reflecting a growth of 29.67% year-on-year [1] - Operating cash flow net amount was 4.3 billion yuan, up by 41.80% compared to the previous year [1] Revenue Breakdown - The sales and licensing income from innovative drugs amounted to 9.561 billion yuan, accounting for 60.66% of total revenue, with innovative drug sales alone contributing 7.570 billion yuan [1] - The company received upfront payments of 200 million USD from Merck and 75 million USD from IDEAYA for licensing agreements, which further boosted revenue [1] R&D Investment - Hengrui Medicine invested 3.871 billion yuan in R&D during the reporting period, with 3.228 billion yuan classified as expense-based R&D [2] - Cumulative R&D investment exceeded 48 billion yuan, supporting a surge in innovative outcomes [1][2] Product Approvals and Pipeline - Six Class 1 innovative drugs were approved for market launch, including injection of Ricacizumab and others [2] - The company has over 100 self-developed innovative products in clinical development and more than 400 clinical trials ongoing domestically and internationally [2] Strategic Collaborations - Hengrui Medicine has strengthened international cooperation, granting exclusive global rights for the oral small molecule drug HRS-5346 to Merck outside Greater China [2] - The company also entered into a collaboration agreement with GSK to co-develop up to 12 innovative drugs across various therapeutic areas [2] Employee Incentives - To enhance team cohesion and core competitiveness, Hengrui Medicine announced a share buyback plan of 1 to 2 billion yuan for a new employee stock ownership plan, with an incentive scale not exceeding 14 million shares in 2025 [3]