Ge Long Hui·2025-11-06 21:24Core Viewpoint - BeiGene (688235.SH) has updated its revenue forecast for the year 2025 under Chinese GAAP, reflecting a positive outlook driven by its leading position in the U.S. market and ongoing expansion in Europe and other key global markets [1] Revenue Forecast - The adjusted revenue forecast for 2025 is expected to be between RMB 362 billion and RMB 381 billion, compared to the previous estimate of RMB 358 billion to RMB 381 billion [1] - The company anticipates that its total revenue will exceed the combined total of its cost of sales, selling expenses, management expenses, and research and development expenses [1] Expenses and Profitability - Research, selling, and management expenses are projected to be between RMB 295 billion and RMB 309 billion [1] - The gross margin is expected to remain in the high range of 80% to 90% [1]