盈利拐点初现 在39只创新药概念股中，百济神州的业绩情况最为令人瞩目。2025年，百济神州将首次实现全年盈利。 百济神州2025年业绩快报显示，公司2025年实现营业收入382.05亿元，同比增长40.4%；归属净利润约为14.22亿元，同比扭亏。 随着A股2025年业绩快报披露季落下帷幕，创新药板块交出了一份颇具含金量的答卷。Wind数据显示，已披露2025年业绩快报的39只创新药概念股中，29股 实现营业收入同比增长，25股实现净利增长或减亏。其中百济神州（688235）、荣昌生物、微芯生物等个股更是实现扭亏。纵观个股营收、净利增长原因， 新药放量及BD授权收入成为主要因素。从"讲故事"到"看业绩"，这份成绩单印证了创新药产业复苏的势头。在业内人士看来，随着更多创新产品进入商业 化阶段以及政策环境的不断优化，中国创新药行业有望为全球患者提供更多"中国方案"。 百济神州表示，报告期内，公司营业收入增长40.4%，主要得益于百悦泽以及安进公司授权产品和百泽安的销售增长。公司实现盈利主要得益于产品收入增 长和费用管理推动的经营效率提升。 | 序号 | 证券代码 ト | 证券简称 | レ | | 业绩快报.归属母 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688443 证券简称：智翔金泰 公告编号：2026-010 重庆智翔金泰生物制药股份有限公司 2025年度业绩快报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内 容的真实性、准确性和完整性承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审 计，具体数据请以重庆智翔 金泰生物制药股份有限公司（以下简称"公司"） 2025年年度报告披露为准，敬请投资者注意投资风 险。 一、2025 年度主要财务数据和指标 单位：人民币元 ■ 注： 1、报告期内，公司营业收入较上年同期增加666.65%、营业利润较上年同期亏损收窄33.57%、利润总 额较上年同期亏损收窄32.74%、归属于母公司所有者的净利润较上年同期亏损收窄32.74%，主要系报 告期内公司进一步推动首款商业化产品赛立奇单抗注射液（金立希?）销售市场扩张，产品销售收入较 上年同期稳步增长；同时，GR1803注射液授权许可及商业化协议的合同履约义务所对应的授权许可收 入金额较大，对公司当期净利润产生了积极影响。 2、202 ...

报告期内，公司营业收入较上年同期增加666.65%、营业利润较上年同期亏损收窄33.57%、利润总额较 上年同期亏损收窄32.74%、归属于母公司所有者的净利润较上年同期亏损收窄32.74%，主要系报告期 内公司进一步推动首款商业化产品赛立奇单抗注射液(金立希®)销售市场扩张，产品销售收入较上年同 期稳步增长;同时，GR1803注射液授权许可及商业化协议的合同履约义务所对应的授权许可收入金额较 大，对公司当期净利润产生了积极影响。 智通财经APP讯，智翔金泰(688443.SH)发布2025年度业绩快报，2025年度实现营业总收入2.31亿元，同 比增长666.65%;归属于母公司所有者的净利润亏损5.36亿元，亏损收窄。 ...

报告期内，公司营业收入较上年同期增加666.65%、营业利润较上年同期亏损收窄33.57%、利润总额较 上年同期亏损收窄32.74%、归属于母公司所有者的净利润较上年同期亏损收窄32.74%，主要系报告期 内公司进一步推动首款商业化产品赛立奇单抗注射液(金立希)销售市场扩张，产品销售收入较上年同期 稳步增长;同时，GR1803注射液授权许可及商业化协议的合同履约义务所对应的授权许可收入金额较 大，对公司当期净利润产生了积极影响。 智翔金泰(688443.SH)发布2025年度业绩快报，2025年度实现营业总收入2.31亿元，同比增长666.65%;归 属于母公司所有者的净利润亏损5.36亿元，亏损收窄。 ...

智翔金泰2019年至2025年归母净利润分别为-1.58亿元、-3.73亿元、-3.22亿元、-5.76亿元、-8.01亿 元、-7.97亿元、-5.36亿元。 智翔金泰表示，营业收入大幅增长主要是由于公司推动首款商业化产品赛立奇单抗注射液（金立希 ） 的市场扩张，产品销售收入稳步增长；同时，GR1803注射液授权许可及商业化协议的合同履约义务所 对应的授权许可收入金额较大，对公司当期净利润产生了积极影响。 智翔金泰成立于2015年，2023年6月登陆上交所科创板。公司主营业务为抗体药物的研发、生产与销 售。 拉长时间线来看，在有据可查的时间内，智翔金泰均为亏损状态，2019年至2024年归母净利润分别 为-1.58亿元、-3.73亿元、-3.22亿元、-5.76亿元、-8.01亿元、-7.97亿元。尤其是最近几年，亏损额较此 前急剧扩大，年亏损均在5亿元以上，似乎看不到盈利的迹象。 2月26日晚间，智翔金泰发布业绩快报，2025年实现营业收入2.31亿元，同比增长666.65%；归母净利润 亏损5.36亿元，较上年同期亏损收窄32.74%。 报告期末，公司总资产为299,265.56万元，较上年同期下降4. ...

格隆汇2月26日丨智翔金泰(688443.SH)公布2025年度业绩快报，报告期内，公司实现营业总收入2.31亿 元，与去年同期相比增长666.65%；实现归属于母公司所有者的净利润-5.36亿元，与去年同期相比亏损 收窄32.74%；实现归属于母公司所有者的扣除非经常性损益的净利润-5.79亿元，与去年同期相比亏损 收窄27.99%。 报告期内，公司营业收入较上年同期增加666.65%、营业利润较上年同期亏损收窄33.57%、利润总额较 上年同期亏损收窄32.74%、归属于母公司所有者的净利润较上年同期亏损收窄32.74%，主要系报告期 内公司进一步推动首款商业化产品赛立奇单抗注射液（金立希®）销售市场扩张，产品销售收入较上年 同期稳步增长；同时，GR1803注射液授权许可及商业化协议的合同履约义务所对应的授权许可收入金 额较大，对公司当期净利润产生了积极影响。 ...

报告期内，公司营业收入较上年同期增加666.65%、营业利润较上年同期亏损收窄33.57%、利润总额较 上年同期亏损收窄32.74%、归属于母公司所有者的净利润较上年同期亏损收窄32.74%，主要系报告期 内公司进一步推动首款商业化产品赛立奇单抗注射液（金立希®）销售市场扩张，产品销售收入较上年 同期稳步增长；同时，GR1803注射液授权许可及商业化协议的合同履约义务所对应的授权许可收入金 额较大，对公司当期净利润产生了积极影响。 格隆汇2月26日丨智翔金泰(688443.SH)公布2025年度业绩快报，报告期内，公司实现营业总收入2.31亿 元，与去年同期相比增长666.65%；实现归属于母公司所有者的净利润-5.36亿元，与去年同期相比亏损 收窄32.74%；实现归属于母公司所有者的扣除非经常性损益的净利润-5.79亿元，与去年同期相比亏损 收窄27.99%。 ...

Core Viewpoint - The company Zhixiang Jintai (688443) is experiencing significant financial challenges, with projected losses for 2025 and a focus on product development in the autoimmune disease sector. Financial Performance - As of January 30, 2026, Zhixiang Jintai's stock closed at 28.29 yuan, down 3.25% from the previous week [1] - The company expects a net profit loss of 524 million to 630 million yuan for the year 2025 [1] - Projected operating revenue for 2025 is between 209 million and 251 million yuan [1] - The expected net profit loss attributable to shareholders is between 481 million and 587 million yuan [1] - The total market capitalization is 10.373 billion yuan, ranking 28th out of 51 in the bioproducts sector and 1969th out of 5184 in the A-share market [1] Product Development and Clinical Trials - The GR1802 injection (Tairiqibai monoclonal antibody) for moderate to severe atopic dermatitis has had its new drug application accepted as of September 2025 and is currently under review [2] - Other indications for GR1802, including chronic sinusitis with nasal polyps and chronic spontaneous urticaria, are in Phase III clinical trials, while asthma is in Phase II [2] - The GR1803 injection for multiple myeloma has received conditional approval for listing and is on the priority review list [7] Strategic Partnerships and Market Positioning - The company is strategically focusing on the autoimmune disease sector, particularly with the commercialization of its products [2] - The inclusion of the product Sairiqi monoclonal antibody in the national medical insurance directory is expected to enhance hospital access and reduce patient costs, thereby improving treatment adherence [2] - The company has established a professional business development team to explore potential partnerships and collaborations [3] Revenue Growth and Cost Management - The sales revenue from the product Jinlixi is expected to drive a nearly sixfold increase in revenue for 2025 [5] - Research and development expenses are projected to be between 425 million and 519 million yuan, reflecting a year-on-year decrease of 14.77% to 30.27% [8] - The anticipated net profit loss is expected to decrease by 26.32% to 39.71% compared to the previous year, primarily due to increased sales and the absence of share-based payment expenses in 2025 [8]

Core Viewpoint - Chongqing Zhixiang Jintai Biopharmaceutical Co., Ltd. (referred to as "Zhixiang Jintai") expects significant revenue growth for the year 2025, while still projecting a net loss, albeit with a reduced loss compared to the previous year [1][2]. Financial Performance - The company forecasts a revenue of between 209 million to 251 million yuan for 2025, representing an increase of 179 million to 221 million yuan year-on-year, which translates to a substantial growth of 595.96% to 733.62% [1]. - The projected net loss attributable to the parent company for 2025 is estimated to be between 481 million to 587 million yuan, which is a year-on-year reduction in loss of 26.32% to 39.71% [1]. - The net profit attributable to the parent company, excluding non-recurring gains and losses, is expected to be between 524 million to 630 million yuan, with a year-on-year loss reduction of 21.62% to 34.90% [1]. Research and Development - The company anticipates R&D expenses for 2025 to be between 425 million to 520 million yuan, reflecting a decrease of 14.77% to 30.27% compared to the previous year [1]. - The company maintains a high level of R&D investment as multiple products enter clinical research and core products reach critical clinical trial phases [2]. - The absence of share-based payment expenses in 2025, due to the completion of the stock incentive plan for the core team in 2024, contributes to the reduction in overall expenses [2].

Core Viewpoint - The company, Chongqing Zhixiang Jintai Biopharmaceutical Co., Ltd., forecasts significant growth in revenue for the year 2025, alongside a reduction in research and development expenses, while still expecting a net loss that is less severe than the previous year [2][7]. Group 1: Performance Forecast - The company anticipates 2025 annual revenue between 209.45 million and 250.88 million yuan, representing an increase of 179.35 million to 220.78 million yuan compared to the previous year, with a year-on-year growth rate of 595.96% to 733.62% [2]. - Expected R&D expenses for 2025 are projected to be between 425.21 million and 519.70 million yuan, a decrease of 90.09 million to 184.58 million yuan from the previous year, reflecting a year-on-year reduction of 14.77% to 30.27% [2]. - The forecasted net loss attributable to the parent company for 2025 is estimated to be between 480.64 million and 587.45 million yuan, which is a reduction of 209.83 million to 316.64 million yuan compared to the previous year, indicating a year-on-year decrease of 26.32% to 39.71% [2]. - The net loss attributable to the parent company after deducting non-recurring gains and losses is expected to be between 523.63 million and 630.44 million yuan, with a reduction of 173.89 million to 280.70 million yuan compared to the previous year, reflecting a year-on-year decrease of 21.62% to 34.90% [2]. Group 2: Previous Year Performance - In 2024, the company achieved a revenue of 30.10 million yuan [3]. - The R&D expenses for 2024 were recorded at 609.79 million yuan [4]. - The net loss attributable to the parent company for 2024 was 797.27 million yuan [5]. - The net loss attributable to the parent company after deducting non-recurring gains and losses for 2024 was 804.33 million yuan [6]. Group 3: Reasons for Performance Changes - The significant increase in revenue is attributed to the steady growth in sales of the company's first commercial product, the Saliqi monoclonal antibody injection, and the recognition of licensing income from the GR1803 injection licensing agreement [7]. - The company has maintained high levels of R&D investment while advancing multiple projects into clinical research stages, with core products entering critical clinical trial phases. The absence of share-based payment expenses in 2025, due to the completion of the stock incentive plan for the core team in 2024, has also contributed to the reduction in expenses [7].