Zhi Tong Cai Jing·2026-02-09 02:21Core Viewpoint - Junshi Biosciences (01877) has seen a stock price increase of over 5%, currently trading at 21.8 HKD, with a transaction volume of 39.91 million HKD. The company announced expectations for significant revenue growth and reduced losses for the fiscal year 2025 [1]. Group 1: Financial Projections - The company anticipates achieving an annual revenue of approximately 2.5 billion RMB in 2025, representing a year-on-year growth of about 28.32% [1]. - Expected R&D expenses for 2025 are projected to be around 1.353 billion RMB, reflecting a year-on-year increase of approximately 6.10% [1]. - The net loss attributable to shareholders for 2025 is estimated to be around 873 million RMB, which is a reduction of about 31.85% compared to the previous year [1]. - After excluding the impact of share-based payments, the net loss attributable to shareholders is expected to be approximately 799 million RMB, indicating a year-on-year decrease of about 37.62% [1]. - The net loss attributable to shareholders, after excluding non-recurring gains and losses, is projected to be around 985 million RMB, which is a reduction of approximately 23.64% year-on-year [1]. Group 2: Product Performance - The company's revenue growth during the reporting period is primarily driven by increased sales of commercialized drugs compared to the previous year [2]. - The core product, Toripalimab injection (brand name: Tuoyi), has seen a significant increase in sales revenue in the domestic market year-on-year [2]. - As of the announcement date, Tuoyi has been included in the national medical insurance catalog for all 12 approved indications in mainland China, making it the only anti-PD-1 monoclonal antibody drug in the catalog for the treatment of renal cancer, triple-negative breast cancer, and melanoma [2].