Zheng Quan Shi Bao Wang·2025-08-29 14:53Core Viewpoint - BeiGene reported a significant financial turnaround in the first half of 2025, achieving a total revenue of 17.518 billion yuan, a year-on-year increase of 46.03%, and a net profit of 450 million yuan, marking its first profit of the year [2][3]. Financial Performance - Total revenue for the first half of 2025 reached 17.518 billion yuan, up 46.03% year-on-year [2]. - Product revenue was 17.36 billion yuan, reflecting a growth of 45.8% [2]. - The company achieved a net profit of 450 million yuan, indicating a turnaround from previous losses [2]. Product Performance - The growth in product revenue was driven by sales of self-developed products, namely Brukinsa® (Zebutinib) and Tislelizumab, as well as increased sales from licensed products [2]. - Zebutinib's global sales reached 12.527 billion yuan, a 56.2% increase year-on-year, making it the leading BTK inhibitor in both the U.S. and global markets [2][3]. - In the U.S. market, Zebutinib sales amounted to 8.958 billion yuan, up 51.7% [3]. - In Europe, Zebutinib sales were 1.918 billion yuan, growing by 81.4% [3]. - In China, Zebutinib sales reached 1.192 billion yuan, an increase of 36.5% [3]. - Tislelizumab generated sales of 2.643 billion yuan, reflecting a 20.6% growth, primarily due to new indications being covered by insurance [3]. Research and Development - The company anticipates over 20 milestone advancements in blood cancers and solid tumors within the next 18 months [4]. - In the blood cancer sector, two products, BGB-16673 and Sotorasib, are in Phase 3 clinical trials [4]. - BGB-16673 is noted for its rapid clinical progress as a BTK degrader, showing potential for treating relapsed or refractory B-cell malignancies [4]. - Sotorasib has submitted applications for two indications in China and is expected to file for global accelerated approval in the second half of 2025 [4]. - The company is also developing multiple potential best-in-class products and combination therapies for key cancers, including breast, lung, and gastrointestinal cancers [4]. Stock Performance - As of August 29, BeiGene's A-share price closed at 278 yuan, marking a 12.55% increase and reaching a historical high [5].