交银国际发布研报称，百济神州第三季度产品收入14.1亿美元，同比增长41%。基于今年第三季度业绩 上调公司净利润预测3%至52%，主要反映对经营费用率更乐观的预期。海通国际则表示，考虑到百济 神州泽布替尼在美国及欧洲市场的放量超该行预期，故上调其2025-2027年收入预期至53亿/64亿/71亿美 元，对应年均复合成长率为23%。 消息面上，百济神州此前发布业绩，第三季度营收首破百亿元，达100.77亿元，同比增长41.1%。与此 同时，公司营业利润达7.46亿元，归母净利润为6.89亿元，归母扣非净利润为7.08亿元。业绩增长主要 得益于BTK抑制剂百悦泽(泽布替尼)、PD-1抑制剂百泽安(替雷利珠单抗)延续了高速放量态势，并叠加 安进授权产品的销售增长。 百济神州(06160)再涨超4%，截至发稿，涨4.15%，报205.6港元，成交额2.23亿港元。 ...

Group 1 - HHLR Fund, L.P. and its affiliates reduced their stake in BeiGene by selling 32.24 million shares through block trading, decreasing their holding from 125 million shares to approximately 92.81 million shares, which represents a reduction in ownership from 8.97% to 6.66% [1] - The sale resulted in HHLR cashing out approximately 5 billion HKD based on the closing stock price of 155.7 HKD per share [1] - HHLR has historically been a significant investor in BeiGene, participating in seven rounds of financing, but has been reducing its stake over the past six months as the stock price has continued to rise [1] Group 2 - BeiGene's stock prices across its US, H, and A shares have increased by over 35% since the beginning of the year as of March 7 [2] - The company reported a revenue of 27.214 billion CNY for 2024, marking a 56.2% increase from 17.423 billion CNY in the previous year [2] - The growth in product revenue, which reached 26.994 billion CNY, was primarily driven by the sales of Brukinsa® (Zebutinib capsules), which generated 18.859 billion CNY, accounting for nearly 70% of total revenue [2] - BeiGene anticipates revenue for 2025 to be between 35.2 billion CNY and 38.1 billion CNY, driven by the leading position of Brukinsa® in the US and ongoing expansion in Europe and other key global markets [2]