Core Viewpoint - The company, Nocera Biopharma (688428.SH), is expected to achieve profitability for the first time in 2025, with a projected net profit of approximately 633 million yuan, an increase of about 1.074 billion yuan compared to the same period last year [1] Group 1: Financial Performance - The net profit attributable to the parent company is projected to be around 633 million yuan, marking a significant increase of approximately 1.074 billion yuan year-on-year [1] - The company anticipates rapid growth in drug sales revenue for 2025, driven by new approvals and existing product performance [1] Group 2: Product Approvals - In April 2025, the drug Obutinib received approval for a new indication for first-line treatment of adult patients with Chronic Lymphocytic Leukemia (CLL) / Small Lymphocytic Lymphoma (SLL) [1] - Obutinib is the first and only BTK inhibitor approved in China for the indication of Marginal Zone Lymphoma (MZL) [1] - In May 2025, the application for the combination of Tanshizhuo monoclonal antibody and Lenalidomide for the treatment of adult patients with relapsed/refractory Diffuse Large B-Cell Lymphoma (r/r DLBCL) was approved by NMPA [1] Group 3: Business Development - Business Development (BD) revenue is another key factor contributing to the rapid growth of operating income in 2025 [2] - The company achieved two BD transactions in 2025, including a licensing collaboration with Prolium Bioscience Inc. regarding the CD20×CD3 bispecific antibody ICP-B02 (CM355) in January [2] - In October 2025, the company entered into a licensing agreement with Zenas BioPharma, Inc. concerning Obutinib and two preclinical molecular-related rights [2]

Core Viewpoint - The company, Nuo Cheng Jian Hua (09969), is expected to achieve a net profit of approximately RMB 633 million in 2025, marking its first profit after losses, with a significant revenue growth of around 134% year-on-year, reaching approximately RMB 2.365 billion [1][2]. Group 1: Financial Performance - The company anticipates a total revenue of approximately RMB 2.365 billion for the year 2025, representing a growth of about 134% compared to the previous year [1]. - The net profit attributable to the parent company is projected to be around RMB 633 million, an increase of approximately RMB 1.074 billion compared to the previous year [1]. - The net profit attributable to the parent company, excluding non-recurring gains and losses, is expected to be around RMB 534 million, which is an increase of approximately RMB 974 million year-on-year [1]. Group 2: Product Development - The company's drug revenue is expected to grow rapidly, driven by the approval of new indications for its drug, Acalabrutinib, in April 2025 for the treatment of chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL) [1]. - Acalabrutinib is the first and only BTK inhibitor approved in China for the MZL indication, contributing to the anticipated revenue growth [1]. - In May 2025, the company received approval for the marketing application of a combination therapy involving Tisagenlecleucel and Lenalidomide for adult patients with relapsed/refractory diffuse large B-cell lymphoma (DLBCL) [1]. Group 3: Business Development - Business development (BD) revenue is another key factor contributing to the rapid growth in total revenue for 2025, with the company achieving two BD transactions during the year [2]. - In January 2025, the company entered into a licensing collaboration with Prolium Bioscience Inc. for ICP-B02 (CM355, a CD20xCD3 bispecific antibody) [2]. - In October 2025, the company reached an authorization agreement with Zenas BioPharma, Inc. regarding Acalabrutinib and two preclinical molecular-related rights [2].