智通财经APP获悉，据港交所9月29日披露，贝达药业股份有限公司(简称：贝达药业(300558.SZ))向港交所主板提交上市申请书，联席保荐人为 摩根士丹利、中信证券。值得注意的是，这已是贝达药业第三次启动港股上市计划。回溯2021年，公司曾于2月、12月两度向香港联合交易所递 交招股书，但两次上市尝试均未成功。 招股书显示，贝达药业是中国创新药研发行业的先行者与引领者，从专注创新药发现与研发的生物科技公司成功转型为行业领先、盈利良好的 生物制药公司。公司已打造自主研发、市场拓展、战略合作与生态圈建设"四驾马车"协同驱动的一体化平台，公司至今已成功推出八款商业化 产品，其中多项产品实现"中国首个"突破。自2011年首款产品上市当年起，公司连续多年实现盈利，稳居中国创新药企前列。 自2003年成立以来，公司始终致力于研发用于治疗肿瘤的新型药物，以应对肺癌及其他主要癌症领域中亟待解决的临床需求。一方面，通过自 主研发与战略合作相结合的模式，公司构建了涵盖关键肺癌靶点（包括表皮生长因子受体（EGFR）和间变性淋巴瘤激酶（ALK））的全面药 物管线，这有助于公司在创新靶向肺癌治疗领域确立领先地位。另一方面，公司不断拓 ...

据港交所9月29日披露，贝达药业股份有限公司(简称：贝达药业(300558.SZ))向港交所主板提交上市申请书，联席保荐人为摩根士丹利、中信证 券。值得注意的是，这已是贝达药业第三次启动港股上市计划。回溯2021年，公司曾于2月、12月两度向香港联合交易所递交招股书，但两次上 市尝试均未成功。 招股书显示，贝达药业是中国创新药研发行业的先行者与引领者，从专注创新药发现与研发的生物科技公司成功转型为行业领先、盈利良好的 生物制药公司。公司已打造自主研发、市场拓展、战略合作与生态圈建设"四驾马车"协同驱动的一体化平台，公司至今已成功推出八款商业化 产品，其中多项产品实现"中国首个"突破。自2011年首款产品上市当年起，公司连续多年实现盈利，稳居中国创新药企前列。 自2003年成立以来，公司始终致力于研发用于治疗肿瘤的新型药物，以应对肺癌及其他主要癌症领域中亟待解决的临床需求。一方面，通过自 主研发与战略合作相结合的模式，公司构建了涵盖关键肺癌靶点（包括表皮生长因子受体（EGFR）和间变性淋巴瘤激酶（ALK））的全面药 物管线，这有助于公司在创新靶向肺癌治疗领域确立领先地位。另一方面，公司不断拓展至高潜力治疗领域， ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [10] Core Viewpoints - The company reported a revenue of 19.16 million yuan for the first half of 2025, an increase of 28.85% compared to the same period in 2024, with a net profit attributable to shareholders of -119 million yuan, improving from -214 million yuan in 2024 [2][5][13] - The company is actively expanding its authorized products, including commercial cooperation for Beifutini and the approval of Gexuolei [7] - The ongoing clinical pipelines are progressing well, targeting high-barrier therapeutic areas, which enhances competitiveness [8][13] Summary by Sections Revenue and Profitability - In the first half of 2025, the company achieved a revenue of 19.16 million yuan, up 28.85% year-on-year, primarily due to increased income from technology licensing and cooperation [2][13] - The operating cost for the same period was 2.49 million yuan, a decrease of 60.63% compared to 2024, leading to an improved net profit of -119 million yuan, compared to -214 million yuan in 2024 [13] Product Pipeline - Beifutini (Simena®) has received NMPA approval for both first and second-line treatment of NSCLC and has entered the National Medical Insurance Directory [7] - Gexuolei (Anfangning®) was transferred to Zhengda Tianqing in August 2023 and was approved for market in November 2024, with positive clinical results reported at the 2025 ASCO conference [7] Research and Development - The registration phase III clinical trial for Taragarestrant (D-0502) is actively progressing for ER-positive, HER2-negative breast cancer [8] - The company has completed a phase II clinical trial for D-0120 in China and initiated a phase II trial in the US [8] - The phase III clinical trial plan for D-2570 has been completed, with the first patient dosed in a phase II trial for ulcerative colitis [8] Financial Forecast - The company forecasts net profits attributable to shareholders of -246 million yuan, -253 million yuan, and -227 million yuan for 2025, 2026, and 2027, respectively, with corresponding EPS of -0.42 yuan, -0.44 yuan, and -0.39 yuan [8]