华东医药三季报营收净利双增 创新产品表现亮眼

Core Insights - The company reported a revenue of 32.664 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 3.77%, and a net profit attributable to shareholders of 2.748 billion yuan, up 7.24% year-on-year [1] - The company significantly increased its R&D investment to 2.186 billion yuan, a year-on-year increase of 35.99%, with direct R&D expenses reaching 1.767 billion yuan, up 53.76% [1] - The company achieved a revenue of 10.989 billion yuan in Q3 2025, a growth of 4.53%, and a net profit of 933 million yuan, up 7.71% year-on-year [1] Revenue and Profit Growth - The pharmaceutical industrial segment achieved a revenue of 11.045 billion yuan from January to September 2025, with a year-on-year growth of 11.10%, and a net profit of 2.475 billion yuan, up 15.62% [1] - In Q3 2025, the pharmaceutical industrial segment generated a revenue of 3.728 billion yuan, a growth of 14.95%, and a net profit of 894 million yuan, up 18.43% [2] Innovation and R&D - The sales and agency service revenue from innovative products reached 1.675 billion yuan in the first three quarters of 2025, marking a significant increase of 62% year-on-year [2] - The company has made breakthroughs in three core therapeutic areas: endocrinology, oncology, and autoimmune diseases, with over 90 innovative drug pipeline projects in progress [3] - The company received five marketing approvals and six applications accepted in 2025, with 18 INDs approved in China or the U.S. [3] Product Pipeline and Approvals - The company’s first-in-class drug for oncology, Mevanertinib, received approval in October 2025 for treating specific lung cancer patients [3] - The ADC drug HDM2027 received fast track designation from the FDA in October 2025, with IND approval in China [4] - The company is advancing its GLP-1 targeted products, with multiple applications submitted and clinical trials ongoing [4] Industrial Microbiology and Aesthetic Medicine - The industrial microbiology segment saw a revenue growth of 28.48% from January to September 2025, focusing on core business areas such as xRNA raw materials and health materials [5] - In the aesthetic medicine sector, the company aims to become a global leader, enhancing its operational efficiency and expanding its product matrix across various health and beauty domains [6] Future Outlook - The company is committed to a research-driven and patient-centered approach, aiming to accelerate the development and commercialization of innovative global products for sustainable high-quality growth [6]