Changchun High-Tech Industry (Group) (000661) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was ¥6.60 billion, down 0.54% year-over-year; net profit attributable to shareholders was ¥982.87 million, down 42.85% year-over-year.

• R&D investment increased 17.32% to ¥1.33 billion, with R&D expenses up 30.22% year-over-year.

• Major new product launches included the first domestic IL-1B monoclonal antibody and innovative pediatric cough granules.

• The company maintained a strong market position in long-acting growth hormone and vaccine segments.

Financial highlights

• Operating income: ¥6.60 billion, -0.54% year-over-year.

• Net profit attributable to shareholders: ¥982.87 million, -42.85% year-over-year.

• Basic EPS: ¥2.44, -42.99% year-over-year.

• Operating cash flow: ¥1.22 billion, -38.25% year-over-year.

• Gross margin for biopharmaceuticals remained above 88%.

Outlook and guidance

• The company will continue to focus on innovation-driven growth, expanding R&D pipelines, and internationalization.

• Plans to further strengthen compliance, optimize product structure, and pursue overseas listing (H-shares in Hong Kong).