Pharmaron Beijing (300759) investor relations material

Executive summary

• 9M revenue rose 19.01% YoY to RMB 12.00bn; attributable net income increased 9.31% to RMB 1.247bn, while adjusted non-IFRS net profit grew 21.97% to RMB 1.496bn.

• Growth was led by CDMO, with 9M revenue up 31.72%; new orders rose more than 30% across all service lines.

Financial highlights

• Q3 revenue was RMB 4.408bn, up 20.94% YoY; attributable net income was RMB 496.9m, up 13.06%.

• 9M operating profit was RMB 1.546bn versus RMB 1.343bn in the prior-year period; reported net profit was RMB 1.209bn versus RMB 1.066bn.

• 9M operating cash flow was RMB 1.907bn, down 21.73% YoY; total assets reached RMB 32.24bn, up 19.00% from year-end.

• Adjusted non-IFRS attributable net profit was RMB 587.0m in Q3, up 24.67%, and RMB 1.496bn for 9M, up 21.97%.

Outlook and guidance

• Expected demand for mid-to-late-stage clinical and commercial production projects to remain strong as the small-molecule CDMO pipeline advances.

• 9M new orders grew over 30% YoY; laboratory services orders rose over 25%, CDMO over 40%, and clinical research services over 25%.