Everest Medicines (1952) investor relations material

Executive summary

• Revenue for H1 surged 157% year-on-year to RMB 1.15 billion, driven by NEFECON and XERAVA sales and expanded commercialization agreements.

• Non-IFRS net profit turned positive at RMB 97.2 million; IFRS net loss narrowed sharply to RMB 5.9 million.

• Strategic acquisitions, including Hasten Biopharmaceuticals, expanded the Asia-Pacific footprint and product portfolio.

• Robust R&D progress with key milestones in nephrology, oncology, and mRNA platforms.

• Gross profit margin improved to 73.7% (excluding amortization), reflecting enhanced supply chain efficiency.

Financial highlights

• Revenue reached RMB 1.15 billion, up 157% year-on-year, mainly from NEFECON and XERAVA.

• Gross margin (excluding intangible asset amortization) was 73.7% under IFRS; reported margin was 69.6%.

• Non-IFRS net profit was RMB 97.23 million; IFRS net loss narrowed to RMB 5.94 million.

• Cash and cash equivalents plus bank deposits stood at RMB 1.86 billion at June-end.

• Operating profit (non-IFRS) was RMB 48.12 million, reflecting core business performance.

Outlook and guidance

• Targeting continued revenue and profit growth, with a 2030 goal of CNY 15 billion in revenue.

• Anticipated regulatory approvals and commercialization of multiple new products annually, including CARDAMYST and LNZ100.

• Plans to expand NRDL coverage for key products, driving further growth.

• Focus on maximizing commercial platform value, deepening the pipeline, and globalizing R&D and commercialization.

• Anticipates maintaining gross margin above 70% and EBITDA margin above 30% as scale increases.