Core Viewpoint - 嘉和生物-B (06998) reported a significant increase in revenue and gross profit for the six months ending June 30, 2025, indicating strong financial performance and operational efficiency [1][2]. Financial Performance - The company achieved a revenue of 32.245 million RMB, representing a year-on-year increase of 122.84% [1]. - Gross profit also reached 32.245 million RMB, with a year-on-year increase of 128.35% [1]. Operational Efficiency - The company successfully implemented a light asset operation model, effectively reducing operational costs [2]. - In conjunction with cost reduction, the company is actively pursuing strategic partnerships and has submitted a new listing application for a proposed merger to the Hong Kong Stock Exchange [2]. Product Development - The innovative drug, 盐酸来罗西利片 (brand name: 汝佳宁), received approval from the NMPA on May 27, 2025, for treating specific types of breast cancer [2]. - The company has entered into an exclusive委托协议 with 亿腾医药 to advance the commercialization and national medical insurance directory application for 来罗西利 (GB491) [2]. - The core pipeline includes GB268 (a tri-specific antibody targeting PD-1/VEGF/CTLA-4), which has received NMPA approval for Phase I clinical trials, and GB261 (a bispecific antibody targeting CD20/CD3) is undergoing clinical trials outside Greater China [2].

Group 1 - The company reported a revenue of 32.245 million RMB for the six months ending June 30, 2025, representing a year-on-year increase of 122.84% [1] - Gross profit for the same period was also 32.245 million RMB, showing a year-on-year increase of 128.35% [1] Group 2 - The company has successfully implemented a light asset operation model, effectively reducing operational costs [2] - The company is actively pursuing strategic partnerships and has submitted a new listing application for a proposed merger to the Stock Exchange [2] - The innovative drug, GB491 (salt of Luroxil), received approval from NMPA on May 27, 2025, for specific indications related to breast cancer treatment [2] - An exclusive委托协议 has been established with Yiteng Pharmaceutical for the commercialization and national medical insurance directory application of GB491 [2] - The company has initiated the FIH clinical trial for its core pipeline product GB268, a tri-specific antibody targeting PD-1/VEGF/CTLA-4, after receiving NMPA approval [2] - Clinical trials for GB261, a bispecific antibody for autoimmune diseases, have commenced outside the Greater China region [2]