Zheng Quan Shi Bao Wang·2025-10-28 11:40Core Insights - Fosun Pharma reported a revenue of 29.393 billion yuan and a net profit of 2.523 billion yuan for the first three quarters of 2025, marking a year-on-year growth of 25.5% [1] - The revenue from innovative drugs reached over 6.7 billion yuan, reflecting an 18.09% increase year-on-year, indicating an ongoing optimization of the revenue structure [1] - The company is focusing on lean operations, cost reduction, and asset lightening to enhance its asset and financial structure, with net cash flow from operating activities amounting to 3.382 billion yuan, a 13.23% increase year-on-year [1] R&D Investment - Fosun Pharma's R&D investment totaled 3.998 billion yuan in the first three quarters of 2025, a 2.12% increase year-on-year, with R&D expenses at 2.730 billion yuan [2] - In Q3, R&D expenses reached 1.013 billion yuan, up 28.81% year-on-year, primarily directed towards innovative platforms including nuclear medicine and cell therapy [2] - The company's self-developed PD-1 inhibitor, Hanshuozhuang, is progressing well in clinical trials, with a Phase III study for gastric cancer achieving its primary endpoint, supporting early market application [2] Strategic Developments - Fosun Pharma completed its A-share and H-share buyback plans for 2025 and launched stock option incentive plans to enhance long-term incentive mechanisms [3] - In August 2025, the company successfully issued a 1 billion yuan, 2-year medium-term technology innovation bond, becoming the first private pharmaceutical company to issue such bonds following a regulatory announcement [3]