HBM (2142) H2 2025 earnings summary

Executive summary

• Achieved record revenue of US$157.9 million and net profit of US$92.2 million for 2025, up 314.6% and 3263.3% year-over-year, respectively.

• Entered Phase 3.0 strategic era, focusing on global platform-based collaborations, maximizing asset value, and expanding innovative pipelines.

• Forged major global partnerships with AstraZeneca, Otsuka, Pfizer, and Bristol Myers Squibb, securing significant upfront and milestone payments.

• Advanced multiple clinical and preclinical programs in immunology, oncology, obesity, and CNS diseases.

Financial highlights

• Revenue rose to US$157.9 million from US$38.1 million year-over-year, driven by molecule license and technology license fees.

• Net profit surged to US$92.2 million from US$2.7 million in 2024.

• R&D costs increased to US$39.8 million, reflecting pipeline advancement.

• Cash and cash equivalents stood at US$403.1 million as of year-end.

• No final dividend recommended for 2025.

Outlook and guidance

• Plans to advance multiple high-potential assets into mid- to late-stage clinical development in 2026.

• Will continue to expand global collaborations and accelerate portfolio value realization.

• Aims to become a global leading platform-based biopharmaceutical group by 2028.