8月21日晚，先声药业（02096.HK）发布2025年中期业绩报告。期内实现营收35.85亿元，同比增长 15.1%；归属于公司权益股东的利润达6.04亿元，同比大幅增长32.2%，经调整后净利润6.51亿元，增幅 21.1%。其中，创新药业务表现尤为亮眼，收入达27.76亿元，同比增长26.0%，占总收入的77.4%，成为 业绩增长的主要驱动力。 三大治疗领域全面开花，神经科学与抗肿瘤领域增长强劲 从治疗领域来看，先声药业的业务布局呈现全面发展态势。神经科学领域收入达12.49亿元，占总收入 的34.8%，同比增长37.3%；抗肿瘤领域收入8.74亿元，占总收入的24.4%，同比增长41.1%；自身免疫 领域收入8.78亿元，占总收入的24.5%，同比增长3.3%。 神经科学领域的强劲增长主要得益于先必新®（依达拉奉右莰醇注射用浓溶液）在卒中注射液市场的持 续扩张，该产品市场份额已达约29%，报告期内新增覆盖患者约91万人，已覆盖超5900家医疗机构。同 时，2024年底获批上市的先必新®舌下片及2025年6月新获批的科唯可®（盐酸达利雷生片）也为该领 域注入新的增长动力。其中，科唯可®作为EMA唯一批准 ...

Core Insights - The company reported a 15.1% year-on-year increase in total revenue to 3.585 billion yuan for the first half of 2025, with adjusted net profit rising by 21.1% to 651 million yuan [1] - The number of innovative drugs launched has reached ten, with innovative drug revenue of 2.776 billion yuan, marking a 26% increase and accounting for 77.4% of total revenue [1] Revenue Breakdown - The company focuses on three main business segments: Neuroscience (1.249 billion yuan), Oncology (874 million yuan), and Autoimmune Diseases (878 million yuan), contributing 34.8%, 24.4%, and 24.5% to total revenue, respectively [2] - Revenue growth in these segments was driven by ten approved innovative drugs, with cornerstone products generating stable cash flow and new products rapidly gaining market share [2] R&D Investment and Pipeline - The company maintained a research and development investment rate of 28.7%, with cumulative R&D investment exceeding 10 billion yuan over the past decade [3] - The pipeline includes at least five near-launch innovative drugs, with two entering NDA review in 2025 [3] Global Expansion and Collaborations - The company is accelerating its global presence, with successful dual submissions for clinical trials in the U.S. and China for several new drugs [4] - Collaborations with AbbVie and NextCure for innovative drugs have the potential total transaction value exceeding 1.8 billion USD [4] Future Strategy - The company aims to enhance its marketing capabilities and continue its "differentiated, more effective, large varieties" R&D strategy to drive sustained growth [4][5] - Focus on open innovation and integrating external resources to create a virtuous cycle of R&D investment and revenue growth [5]

公告称，截至本公告日期，集团商业化创新药组合成功拓展至十款：恩度®、艾得辛®、先必新®、恩 维达®、科赛拉®、先诺欣®、恩立妥®、先必新®舌下片、科唯可®及 恩泽舒®，涵盖神经科学、抗肿 瘤、自身免疫、抗感染领域，拥有巨大的市场潜力和协同效益。截至2025年6月30日止6个月，创新药业 务收入人民币27.76亿元， 占总收入的77.4%。 智通财经APP讯，先声药业(02096)发布截至2025年6月30日止6个月中期业绩，该集团取得收入人民币 35.85亿元(单位下同)，同比增加15.14%;净利润6.04亿元，同比增加32.2%;每股基本盈利0.25元；经调整 归属于公司权益股东的利润为人民币6.51亿元，相比于去年同期人民币5.38亿元增长21.1%。 ...

Core Insights - Taiping Medical Health Fund has completed an investment in Hainan Xiansheng Zaiming Pharmaceutical Co., Ltd., a subsidiary of Xiansheng Pharmaceutical Group, which is a leading domestic pharmaceutical company focused on innovative anti-tumor drugs [1] - The investment aims to enhance Xiansheng Zaiming's innovative capabilities and support its participation in international competition and collaboration in tumor immunotherapy [1] - Xiansheng Zaiming has developed several advanced research and development platforms, including protein engineering, T cell engagers, NK cell engagers, ADCs, PROTACs, and AI-assisted molecular design [1] Company Developments - Xiansheng Zaiming has achieved compliance with GMP standards in both China and the United States for its independent production capabilities [1] - The company has four core innovative drugs, namely Kexaila®, Envida®, Endu®, and Enlitai®, which are already commercialized and cover various solid tumor treatments [1] - Kexaila® and Enlitai® are expected to enter the national medical insurance catalog in 2024, following Endu® [1] Strategic Partnerships - Following the investment, Xiansheng Zaiming announced a strategic partnership with Next Cure, Inc. to co-develop a new ADC drug, SIM0505, targeting the CDH6 antigen for solid tumor treatment [3] - The potential development phase of SIM0505 could yield up to $745 million in related payments, including upfront, development, and sales milestone payments, along with tiered royalties based on net sales outside Greater China [3] - Previously, Xiansheng Zaiming entered a licensing option agreement with AbbVie for SIM0500, a tri-specific antibody, with a total value of up to $1.055 billion [6]