Vigonvita Life Sciences (2630) investor relations material

Executive summary

• H1 revenue rose 693.7% YoY to RMB131.770m, driven by pharmaceutical product sales following the July 2025 launch and VV116 out-licensing income; gross margin reached 89.4%.

• Net loss narrowed 29.7% YoY to RMB122.146m as higher commercialization spending offset part of the revenue and gross-profit gains.

Financial highlights

• Pharmaceutical product sales contributed RMB107.619m and out-licensing income RMB20.377m to H1 revenue of RMB131.770m.

• Gross profit was RMB117.797m versus RMB11.662m; gross margin rose 19.2 percentage points to 89.4% from 70.2%.

• Net loss was RMB122.146m versus RMB173.702m; loss attributable to owners was RMB122.073m versus RMB173.016m.

• R&D expenses fell to RMB83.2m from RMB100.2m, while selling expenses rose to RMB80.1m from RMB6.0m on increased marketing and sales activity.

• Basic loss per share improved to RMB0.73 from RMB1.15; no interim dividend was recommended.

Outlook and guidance

• H2 priorities include accelerating andrology product sales through digital marketing, academic engagement, distribution expansion and brand-building.

• Plans include continuing Phase II trials for VV913 and VV119 and launching a Phase I trial for VV147.

• Business development will target China, Japan, South Korea, Latin America and Southeast Asia, focusing on licensing and international market access.

• LV232 Phase II is expected to complete in 2026, with Phase III scheduled for H1 2027 and NDA submission planned for February 2029.