Financial Highlights

Development Highlights

Oncology Innovative Drugs

- Focus V (Anlotinib Hydrochloride Capsules) has been approved for seven indications. The marketing applications of three new indications have been submitted to the Center for Drug Evaluation of the China National Medical Products Administration (“CDE”), while another three pivotal clinical trials for new indications have shown positive results. The Group will submit new marketing applications to the CDE for these indications in the near future. In addition, anlotinib is in Phase III clinical studies for a number of new indications, including first-line non-squamous non-small cell lung cancer and first-line colorectal cancer. It is expected that marketing applications will be submitted gradually in the next few years.

- Yilishu (Efbemalenograstim alfa Injection) has completed three global multi-center, randomized, and controlled pivotal Phase III clinical trials, and has been compared with the commonly used short-acting and long-acting G-CSF drugs in clinical practice, proving its efficacy and safety. In December 2023, Efbemalenograstim alfa was successfully included in the NRDL, and its sales volume accelerated in 2024, becoming an important contributor to the Group’s revenue growth.

- Anfangning (Garsorasib Tablets) is a novel and highly effective KRAS G12C inhibitor that was approved for marketing by the NMPA in November 2024 for the treatment of advanced non-small cell lung cancer with KRAS G12C mutation that has received at least one systemic treatment. The Group will further explore the multi-indication potential of garsorasib, which is expected to become another blockbuster product in the oncology field.

- Anbeisi (Bevacizumab Injection), Delituo (Rituximab Injection), Saituo (Trastuzumab for Injection), and Paletan (Pertuzumab Injection) were approved for marketing by the NMPA in February 2023, May 2023, July 2023, and December 2024, respectively. The rapid increase in the volume of these biosimilars in 2024 has accelerated the Group’s revenue growth.

Liver Disease Innovative Drugs

- Tianqing Ganmei (Magnesium Isoglycyrrhizinate Injection) is the fourth-generation of glycyrrhizic acid preparation that has been approved for three indications: chronic viral hepatitis, acute drug-induced liver injury, and improvement of liver dysfunction. Magnesium isoglycyrrhizinate is the world’s first 99.9% purified alpha-glycyrrhizic acid. It has the advantages of strong liver targeting, excellent anti-inflammatory effects, and good safety.

- Lanifibranor (pan-PPAR agonist) is currently undergoing Phase III clinical trials worldwide for the treatment of metabolic dysfunction-associated steatohepatitis (MASH). In July 2023, Lanifibranor was granted Breakthrough Therapy Designation by the CDE. Lanifibranor is China’s first MASH drug to enter Phase III clinical trials and is expected to fill the gap in China’s MASH market.

Respiratory Innovative Drugs

- Tianqing Suchang (Budesonide Suspension for Inhalation) is China’s first budesonide nebulized generic drug approved for marketing, breaking the long-term monopoly of branded drugs in the domestic market, and offering an effective, safe and economical high-end product for patients with chronic airway inflammation in China. The product has been included in the national Volume-based Procurement (“VBP”). The Group has taken a series of proactive management measures in a timely manner, including strengthening downstream channels, expanding market coverage and conducting secondary development in markets outside the scope of the VBP, enabling its sales to achieve steady growth in 2024.

- Tianyun (Colistimethate Sodium for Injection) is a first-to-market generic drug launched in 2021. It is China’s first colistimethate sodium for injection approved for marketing, and was successfully included in the NRDL in 2023. At present, only two products with the same generic name have been approved in China. The Group continued to expand its market coverage through active academic promotion, and Tianyun’s sales grew rapidly in 2024.

Surgery/Analgesia Innovative Drugs

- Zepolas (Flurbiprofen Cataplasms) is the first domestically produced cataplasms approved for marketing in China, ranking first in the market share of topical analgesia for many years. Sales of flurbiprofen cataplasms have maintained a growth trend in recent years and achieved breakthrough growth in 2024. The second-generation flurbiprofen patch developed by the Group is expected to be approved for marketing in 2025.

Others

- In 2024, the tenth batch of VBP products accounted for only 1% of the Group’s total revenue, and the related risks have basically been removed. In addition, Anboni (Unecritinib Fumarate Capsules) and Anluoqing (Envonalkib Citrate Capsules), two category 1 innovative drugs independently developed by the Group, were newly included in the NRDL and are expected to benefit more patients.

HONG KONG, Mar 21, 2025 - (ACN Newswire) - Sino Biopharmaceutical Limited (“Sino Biopharm” or the “Company”, together with its subsidiaries, the “Group”) (HKEX:1177), a leading innovation-driven pharmaceutical conglomerate in the PRC, has announced its audited financial results for the year ended 31 December 2024.

During the year, the Group recorded revenue of approximately RMB28.87 billion, an increase of approximately 10.2% over last year. Profit attributable to the owners of the parent company was approximately RMB3.50 billion, a substantial increase of approximately 50.1% over last year. Earnings per share attributable to the owners of the parent company were approximately RMB19.13 cents, a significant increase of approximately 51.9% over last year, which was mainly driven by the notable growth in revenue and the gain on disposal of subsidiaries during the year. Excluding the profit attributable to the owners of the parent from the discontinued operations, the share of profits and losses of associates and joint ventures (net of related tax and non-controlling interests), one-off adjustments for the impairment and fair value changes of certain assets and liabilities (net of related tax and non-controlling interests), fair value losses/(gains) of current equity investments (net of related tax and non-controlling interests), share-based payments (net of related tax and non-controlling interests), effective interest expenses and exchange (gain)/loss of the convertible bond debt component, adjusted non-HKFRS profit attributable to the owners of the parent was approximately RMB3.46 billion, an increase of approximately 33.5% over last year. The Group's liquidity remains strong, with total fund reserve at approximately RMB24.11 billion, including cash and bank balances classified under current assets of approximately RMB9.57 billion, bank deposit classified under non-current assets of approximately RMB9.37 billion, and the wealth management products of approximately RMB5.17 billion in aggregate.

The Board of Directors has recommended a final dividend payment of HK4 cents per share (2023: HK3 cents). Together with the interim dividend of HK3 cents already paid, the total dividend for the year amounted to HK7 cents (2023: HK5 cents).

Sales: Robust sales system continues to drive results  Achieves positive revenue growth for  generic drugs

On the strong foundation its generic drug business provides, the Group has comprehensively promoted innovation and transformation. The innovative products have kept boosting sales growth, with share of revenue climbing year after year. Revenue from innovative products amounted to RMB12.06 billion, up by 21.9% year-on-year, and accounted for 41.8% of the Group's total revenue.

During the year, the sales of oncology medicines amounted to approximately RMB10.73 billion, representing approximately 37.2% of the Group’s revenue. The sales of surgery/analgesia and liver disease amounted to approximately RMB4.46 billion and RMB3.44 billion, respectively, representing approximately 15.4% and 11.9% of the Group's revenue, respectively. In addition, sales contributions from various areas such as respiratory, cardio-cerebral vascular medicines and others have continued to contribute to the Group's revenue. Among them, the sales of respiratory and cardio-cerebral vascular medicines accounted for approximately 10.9% and 7.5% of the Group's revenue, respectively.

R&D: Pushes at full force innovative product development  Actively applies for various patents

The Group has continued to focus its R&D efforts on new medicines in the four therapeutic areas of oncology, liver diseases, respiratory and surgery/analgesia. As at the end of the reporting period, the Group had 70 innovative products under development, including 39 oncology products, 7 liver disease products, 13 respiratory products, and 6 surgery/analgesia products, and 5 other products. In addition, the Group had 65 generic drug products in development.

The Group also attaches tremendous importance to the protection of intellectual property rights and encourages its member enterprises to file patent applications in order to enhance the Group’s core competitiveness. During the reporting period, the Group filed 1,069 new patent applications and received 349 patent invention approvals. As at the end of the reporting period, the Group had accumulated 5,082 effective patents and patent applications and obtained 1,958 patent invention approvals.

Prospects: Focuses on core business and innovation  Continues to promote dual-pronged approach in implementing globalization strategy

The Chinese pharmaceutical market has occupied a key position in the global pharmaceutical industry due to its huge volume and increasing market demand. In addition, as a strategic industry closely linked to the national economy and people’s livelihood, the pharmaceutical industry receives key support from national policies and incentives. Meanwhile, a series of policies is expected to broaden the pricing flexibility of innovative drugs, improve their accessibility, and create a wider market prospect for such drugs.

Committed to its vision “to be a leading global pharmaceutical company through delivering innovative therapies for patients”, the Group has adhered to comprehensive innovation, stepped up its R&D investment, and continued to strengthen its internal R&D capabilities. It has now built a comprehensive pipeline and product portfolio. At the same time, the Group has vigorously promoted business development and strategic cooperation, striving to become the best partner for global pharmaceutical and biotechnology enterprises.

At present, the Group has entered the harvest period of its innovative development. It is expected that by 2027, the number of innovative products launched to the market will exceed 30, with revenue from innovative products accounting for over 55% of total revenue. This will further strengthen the Group’s dominant position in the four main therapeutic areas and provide strong impetus for the future sustainable growth. In addition, the Group has advanced its digitalization strategy with artificial intelligence (AI) as the core driving force. It has finished locally deploying cutting-edge AI models including DeepSeek and ChatGPT, and optimized key business such as cross-departmental collaboration, thereby significantly improving operational efficiency.

Meanwhile, the Group adopts its dual-pronged globalization strategy to accelerate innovation and development. The Group will bring global pharmaceutical innovations to China to benefit Chinese patients, while also expanding its presence in international markets to target unmet clinical needs worldwide.

Looking ahead, the Group will further focus on its core business and innovation, and continue to improve R&D efficiency and quality in the four major therapeutic areas. It will also actively accelerate the deployment for globalization of its business to drive rapid business growth and steady performance improvement, and contribute to the development of the global pharmaceutical industry.

About Sino Biopharmaceutical Limited (HKEX:1177)

Sino Biopharmaceutical Limited is a leading Chinese pharmaceutical company continuing to invest in Oncology, Liver Diseases, Respiratory and Surgery/Analgesia, exploring innovative therapies to improve the lives of patients. The company has strong manufacturing capabilities and broad patient access across China. Sino Biopharmaceutical Limited is committed to bring innovation to address unmet healthcare needs globally. The company was listed on the Hong Kong Stock Exchange in 2000, and was selected as a component of the MSCI Global Standard Index in China in 2013; In 2018, it was selected as a constituent stock of Hang Seng Index; In 2020, it was selected as a constituent stock of Hang Seng Connect Biotech 50 Index and the Hang Seng China (Hong Kong Listed) 25 Index. The company has been listed in the “Top 50 Global Pharmaceutical Enterprises” published by the authoritative American magazine Pharmaceutical Manager for six consecutive years, and has been rated as the “Top 50 Best Companies in Asia Pacific” by Forbes (Asia) for three consecutive years.

For more information, please visit: www.sinobiopharm.com

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