Pharmaron Beijing (300759) Q2 2025 earnings summary

Executive summary

• Achieved revenue of ¥6.44 billion in H1 2025, up 14.93% year-over-year; Q2 revenue grew 7.85% sequentially.

• Net profit attributable to shareholders was ¥701 million, down 37% year-over-year due to prior-year one-off gains.

• Adjusted net profit (excluding non-recurring items) rose 36.66% year-over-year to ¥637 million.

• Cash flow from operations increased 28.06% year-over-year to ¥1.41 billion.

• Over 2,600 global clients served, with 480+ new clients added; 70% of revenue from multi-service clients.

Financial highlights

• Revenue: ¥6.44 billion (+14.93% YoY); net profit: ¥701 million (-37% YoY); adjusted net profit: ¥637 million (+36.66% YoY).

• Basic EPS: ¥0.3984 (-36.58% YoY); operating cash flow: ¥1.41 billion (+28.06% YoY).

• Gross margin for laboratory services: 45.20% (+0.74pp YoY); CMC (small molecule CDMO) margin: 30.50% (+2.20pp YoY).

• Total assets: ¥25.20 billion (+5.31% from year-end); net assets: ¥14.27 billion (+4.75%).

• Non-recurring gains: ¥64.7 million, mainly from government subsidies and financial asset revaluation.

Outlook and guidance

• Expects continued growth in global drug R&D outsourcing, with robust demand from both large pharma and biotech.

• CMC (small molecule CDMO) new orders up ~20% YoY; more project deliveries expected in H2 2025.

• Ongoing investment in digitalization, AI, and international expansion to drive future growth.