RemeGen (9995) Q2 2026 earnings summary

Executive summary

• Achieved a significant turnaround, posting a net profit of RMB4,662.3 million for H1 2026 versus a net loss of RMB449.6 million in H1 2025, driven by robust sales and major licensing revenue.

• Revenue surged to RMB5,850.2 million, up 436% year-over-year, mainly due to higher sales of telitacicept and disitamab vedotin and a major AbbVie licensing deal for RC148.

• Major pipeline progress: new indications for telitacicept and disitamab vedotin approved in China, and multiple late-stage clinical trials ongoing globally.

Financial highlights

• Revenue: RMB5,850.2 million, up 436% year-over-year.

• Gross profit: RMB5,581.3 million, up from RMB921.8 million year-over-year.

• Net profit: RMB4,662.3 million, compared to a net loss of RMB449.6 million in H1 2025.

• Basic EPS: RMB8.32 (vs. RMB-0.83 in H1 2025).

• Cash and cash equivalents: RMB1,528.9 million as of June 30, 2026.

• Gearing ratio: 15.6% (down from 50.2% at end-2025).

Outlook and guidance

• Plans to accelerate commercialization of core products and expand market presence in China and internationally.

• Continued focus on advancing clinical trials and regulatory filings for pipeline products in collaboration with global partners.

• Ongoing international collaborations with Vor Bio, Pfizer/Seagen, Santen China, and AbbVie to advance global clinical programs.