Core Viewpoint - Beigene Ltd. reported significant financial improvements for the six months ending June 30, 2025, with a notable increase in revenue and a shift from net loss to net profit compared to the same period in 2024. Financial Summary - Total revenue for the six months ending June 30, 2025, increased by approximately $751.8 million or about 44.7% to approximately $2,432.6 million compared to the same period in 2024 [1]. - Product revenue rose by approximately $742.5 million or about 44.5% to approximately $2,410.6 million [1]. - Total operating expenses for the same period increased by approximately $217.7 million or about 12.2% to approximately $2,004.0 million [1]. - The net profit for the six months ending June 30, 2025, was approximately $95.6 million, a significant turnaround from a net loss of approximately $371.6 million in the same period of 2024 [1]. - Basic and diluted earnings per share for the six months ending June 30, 2025, were $0.07, compared to a loss of $0.27 per share for the same period in 2024 [1]. Balance Sheet Overview - Total assets as of June 30, 2025, amounted to approximately $6,298.4 million, an increase from $5,920.9 million as of December 31, 2024 [2]. - Total liabilities were approximately $2,527.9 million as of June 30, 2025, compared to $2,588.7 million as of December 31, 2024 [2]. - Shareholders' equity increased to approximately $3,770.5 million as of June 30, 2025, from $3,332.2 million as of December 31, 2024 [2]. Cash Flow Analysis - Net cash generated from operating activities for the six months ending June 30, 2025, was approximately $307.7 million, a recovery from cash used of $404.2 million in the same period of 2024 [3]. - Cash used in investing activities was approximately $188.5 million for the six months ending June 30, 2025, compared to $320.9 million in the same period of 2024 [3]. - Net cash provided by financing activities was approximately $1.2 million for the six months ending June 30, 2025, compared to $185.3 million in the same period of 2024 [3]. Company Overview - Beigene Ltd. is a global oncology innovation company focused on developing innovative anti-cancer drugs to improve accessibility and affordability for cancer patients worldwide [4]. - The company relocated its registered address to Switzerland in the second quarter of 2025, which does not affect its financial reporting under GAAP [4]. - As of June 30, 2025, Beigene employed over 11,000 staff and operates several subsidiaries in China, the United States, Australia, and Switzerland [4].

Core Viewpoint - Hillhouse Capital, once the second-largest shareholder of BeiGene, is gradually exiting its investment in the company, having reduced its stake below 5% as of May 9, 2023 [1][2]. Shareholder Activity - Hillhouse Capital's HHLR Fund, L.P. and its affiliates sold 16 million shares of BeiGene, reducing their total holdings to 68.55 million shares, which is a decrease in ownership from 6.03% to 4.89% [1]. - Between June 8, 2023, and December 2, 2024, Hillhouse has sold a total of 21.9973 million shares through various trading methods [2]. - In early March 2024, Hillhouse reduced its holdings further by selling 32.24 million shares, bringing its ownership down to 6.66% [2]. Company Performance - BeiGene, a global innovator in cancer treatment, has shown improving financial performance despite Hillhouse's divestment [3]. - For the fiscal year 2024, BeiGene reported revenues of 27.21 billion yuan, a year-on-year increase of 56.2%, while the net loss was 4.98 billion yuan, indicating a reduction in losses for two consecutive years [3]. - In Q1 2025, BeiGene achieved revenues of 8.048 billion yuan, a 50.2% increase year-on-year, with a significantly reduced net loss of 94.5 million yuan compared to a loss of 1.908 billion yuan in the same period last year, marking a 95.05% reduction in losses [3]. - The global sales of BeiGene's flagship product, Baiyueze, reached 5.692 billion yuan in Q1 2025, representing a 63.7% increase and accounting for 70.73% of the company's total revenue [3].