Zhi Tong Cai Jing·2025-11-12 01:40Core Viewpoint - BeiGene's stock rose over 4%, reaching HKD 205.6, following the announcement of its third-quarter earnings, which showed significant revenue growth and profitability [1] Financial Performance - Third-quarter revenue surpassed RMB 10 billion for the first time, reaching RMB 10.077 billion, a year-on-year increase of 41.1% [1] - Operating profit for the quarter was RMB 746 million, with net profit attributable to shareholders at RMB 689 million and adjusted net profit at RMB 708 million [1] Product Performance - The revenue growth was primarily driven by the strong sales of BTK inhibitor Brukinsa (Zebutinib) and PD-1 inhibitor Tislelizumab, alongside increased sales from Amgen's licensed products [1] - According to CMB International, product revenue for the third quarter was USD 1.41 billion, reflecting a 41% year-on-year increase [1] Future Outlook - CMB International raised its net profit forecast for the company by 3% to 52%, based on more optimistic expectations regarding operating expense ratios [1] - Haitong International adjusted its revenue forecasts for Zebutinib in the U.S. and European markets, projecting revenues of USD 5.3 billion, USD 6.4 billion, and USD 7.1 billion for 2025-2027, corresponding to a compound annual growth rate of 23% [1]