恒瑞医药(600276.SH)：上半年净利润44.5亿元，同比增长29.67%

Core Insights - Heng Rui Pharmaceutical (600276.SH) reported a revenue of 15.761 billion yuan for the first half of 2025, representing a year-on-year growth of 15.88% [1] - The net profit attributable to shareholders reached 4.45 billion yuan, an increase of 29.67% year-on-year [1] - The net profit excluding non-recurring gains and losses was 4.273 billion yuan, up 22.43% year-on-year [1] - Basic earnings per share stood at 0.70 yuan [1] Revenue and Profit Drivers - The increase in revenue and profit was primarily driven by the sales of innovative drugs, which generated 7.570 billion yuan, showing rapid growth [1] - The company recognized revenue from licensing agreements, including 200 million USD from Merck Sharp & Dohme and 75 million USD from IDEAYA, significantly contributing to profit growth [1]