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Innovent Biologics (1801) investor relations material

Innovent Biologics H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary27 Aug, 2025

Executive summary

  • Achieved total revenue of RMB5,953.1 million for 2025H1, up 50.6% year-over-year, driven by robust oncology and general biomedicine sales, and increased license income.

  • Net profit reached RMB834.3 million, a turnaround from a loss of RMB392.6 million in the prior year, with Non-IFRS net profit at RMB1,213.2 million and EBITDA at RMB1,412.8 million, reflecting improved operational efficiency.

  • Five new products launched, expanding the portfolio to 16 marketed products, sustaining oncology leadership and driving growth in general biomedicine.

  • Strategic collaborations, including a global license agreement with Roche for IBI3009, and global R&D expansion underpin international growth ambitions.

  • Cash reserves exceeded USD2.0 billion as of July 31, 2025, providing a strong financial base for future growth.

Financial highlights

  • Revenue: RMB5,953.1 million (+50.6% YoY); product revenue: RMB5,233.8 million (+37.3% YoY); license fee income: RMB665.6 million (up from RMB115.9 million YoY).

  • Gross profit: RMB5,119.6 million (+56.3% YoY); gross margin increased to 86.8% (Non-IFRS: 86.8%).

  • SG&A expenses ratio decreased by 7.9pp to 44.2%, and selling and marketing expenses were RMB2,375.1 million (39.9% of revenue).

  • Net profit: RMB834.3 million (vs. loss of RMB392.6 million YoY); Non-IFRS net profit: RMB1,213.2 million; Non-IFRS EBITDA: RMB1,412.8 million.

  • Cash and cash equivalents stood at over RMB11bn (USD1.5bn) as of June 30, 2025, and USD2bn as of July 31, 2025.

Outlook and guidance

  • 2025 is positioned as a pivotal year, with continued revenue growth expected from oncology and new launches in general biomedicine.

  • Anticipates approvals for IBI112 and IBI310 by end of 2025, and further product launches and expanded indications.

  • Advancing global registrational studies for IBI363 and IBI343, with new PoC studies and Ph1 data accumulation planned.

  • Ongoing global expansion with late-stage clinical trials and regulatory submissions in multiple regions.

  • Three-year plan targets 20 commercial products and RMB20bn product revenue by 2027.

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Frequently asked questions

Innovent Biologics Inc. is a biopharmaceutical company focused on the research, development, manufacturing, and commercialization of biologic drugs, primarily targeting oncology, autoimmune, metabolic, and ophthalmology diseases. The company develops monoclonal antibodies and other biologic therapies aimed at addressing unmet medical needs, particularly within the Chinese market. The company is headquartered in Suzhou, China, and its shares are listed on the Hong Kong Stock Exchange.

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