Shanghai Junshi Biosciences Co (1877) Q1 2026 earnings summary

Executive summary

• Operating income rose 45.09% year-over-year to RMB726.3 million, driven by strong sales of commercialized drugs, especially toripalimab injection, which saw a 39.37% increase in domestic sales revenue to RMB623 million.

• Net loss attributable to shareholders narrowed significantly to RMB20.6 million from RMB234.9 million in the prior year, with adjusted net profit (excluding share-based payments) reaching RMB43.4 million.

• All four commercialized products are now included in the National Drug Catalogue for Basic Medical Insurance, enhancing commercialization capabilities.

• The company advanced multiple innovative drug candidates and expanded global approvals for toripalimab, now marketed in over 40 countries and regions.

Financial highlights

• Operating income: RMB726.3 million, up 45.09% year-over-year.

• Net loss attributable to shareholders: RMB20.6 million, a substantial improvement from RMB234.9 million loss last year.

• Net cash flow from operating activities: RMB57.8 million, compared to negative RMB24.3 million last year.

• Total assets: RMB14.15 billion, up 14.29% from year-end 2025.

• Cash and bank balances plus financial assets for trading: RMB4.56 billion at period end.

Outlook and guidance

• Focus remains on biologics development, global expansion, and operational efficiency.

• Plans to leverage AI technology to improve R&D efficiency and reduce costs.

• Continued enhancement of commercial competitiveness and pipeline synergies expected.