Sino Biopharmaceutical Limited · HKEX:1177
Sino Biopharmaceutical — H1 2025 Earnings Presentation
29 slides from Sino Biopharmaceutical's earnings presentation, Aug 18, 2025
Slide 1: 2025 Interim Results Announcement
(Stock Code: 1177.HK) 2025 2025 Interim Results Announcement 2025.8.18 Hong Kong
Slide 2: Contents
CONTENTS Financial Highlights Pipeline Highlights 2
Slide 3: Financial Highlights
Financial Highlights Both revenue and profit achieved double-digit growth (RMB bn) 10.7% 140.2% 17.57 101.1% 3.39 15.87 3.09 1.41 1.54 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 H1 Continuing Continuing Continuing Continuing Continuing Continuing Operations Operations Operations Operations Operati
Slide 4: Profit attributable to owners of the parent (underlying profit)
Profit attributable to owners of the parent (underlying profit) (RMB bn) 2025H1 2024H1 Growth Profit attributable to owners of the parent (as reported) 3.39 3.02 +12.3% Profit attributable to the owners of the parent from discontinued operations - -1.61 Share of profits and losses of associates and
Slide 5: Innovative Products
Innovative Products Achieved 27.2% growth, products launched in 2023-2025 ramped up rapidly (RMB bn) Revenue from innovative products Efbemalenograstim ( Anbeisi ®) Bevacizumab ( Delituo Rituximab ®) Saituo ( ®) Trastuzumab Anhengji ( ®) rhFVIII 2023 Revenue from innovative products Revenue from inn
Slide 6: R&D
R&D Increasing investment in innovative R&D, focusing on core areas and core assets (RMB bn) R&D expenses (ratio) Increase investment in R&D, entering the high-yield phase of the innovative pipeline Harvest R&D expenses (innovative products) R&D expenses (generic drugs) R&D expenses, as a % of reven
Slide 7: Manufacturing
Manufacturing Scalability, centralization, and refined management drive sustained gross margin improvement (RMB bn) Gross profit (margin) Two biosimilars approved for 10,000L GMP production lines, Large-scale first in China production Gross profit 82.8% Gross profit margin 82.1% 82.5% 81.0% 81.5% 80
Slide 8: Sales
Sales Digitalized and compliance-driven management, achieving steady improvement in staff efficiency (RMB bn) Output per salespeople - major subsidiaries1) SG&A expenses (ratio) Focus on efficiency, SG&A expenses striving to improve per capita output Efficiency SG&A expenses, as a % of revenue 49.2%
Slide 9: Fund Management
Fund Management Sound financial position and consistent long-term growth in shareholder returns (RMB bn) Adequate Fund Reserve1) Consistent long-term dividend growth Fund reserve Net cash Interim Final 30.5 RMB 23.0 21.1 24.1 14.4 18.5 30.5bn Stable core dividend payout ratio of 25%+ 1.93 9.0 8.5 Fu
Slide 10: Contents
CONTENTS Financial Highlights Pipeline Highlights 10
Slide 11: Four Key TAs Major innovative pipeline layout
Four Key TAs Major innovative pipeline layout Lung Liver/ MASH cancer metabolic Breast Respiratory/ Oncology COPD cancer infectious Surgery/ GI analgesia Patch cancer 11
Slide 12: Oncology – Non-Small Cell Lung Cancer
Oncology – Non-Small Cell Lung Cancer Comprehensive layout, covering the full-line treatment of various subtypes NSCLC (Neo) adjuvant 1L 2L ≥3L Benmelstobart Benmelstobart LM-168 LM-2168 Benmelstobart+ TQB2101 LM-2168 PRMT5i Anlotinib +Anlotinib +Anlotinib+Chemo (CTLA-4TME) (PD-1/CTLA-4TME) AL2846 (
Slide 13: Oncology – Breast Cancer
Oncology – Breast Cancer Comprehensive layout in all three major subtypes with full-line treatment coverage (Neo) adjuvant 1L ≥2L HR+ TQB3616 TQB3616 TQB3616 TQB3915 ER PROTAC ER PROTAC (60-70%) (CDK2/4/6i) (CDK2/4/6i) (CDK2/4/6i) (SERCA) Dysregulations in the PI3Kα TQB3912 PI3Kα PAM signaling pathw
Slide 14: Oncology – Gastrointestinal Cancer
Oncology – Gastrointestinal Cancer Systematic layout, covering common cancer types, such as CRC, GC, PDAC, HCC Colorectal Cancer Gastric Cancer Pancreatic Cancer Liver Cancer Global incidence ~1.9mn Global incidence ~1.0mn Global incidence ~0.5mn Global incidence ~0.8mn Anbeisi® TQB6411 Saituo® TQB2
Slide 15: Liver/Metabolic Diseases
Liver/Metabolic Diseases Oral + injectable preparation, targeting 200 million MASH patients worldwide Lanifibranor (pan-PPAR agonist) Endpoint: Resolution of MASH and fibrosis improvement ≥ least 1 stage1) Oral Injectable Phase 3 global main cohort enrollment completed, with a plan to submit NDA in
Slide 16: Respiratory/Infectious Diseases
Respiratory/Infectious Diseases Full-spectrum coverage of respiratory diseases, various dosage forms (SMI, DPI, nebulizers) Phase I Phase II Phase III/NDA TQC3302 (ICS/ TQC3721 TQC2731 TQC2938 TQC3721 TQC3403 Chronic Obstructive LAMA/LABA SMI) (PDE3/4 inhibitor) (TSLP mAb) (ST2 mAb) (PDE3/4 inhibito
Slide 17: Surgery/Analgesia
Surgery/Analgesia Continuous technological advancement solidifies leadership in the surgical/analgesia field 2030 (RMB) 20+ >10 candidates are expected to be approved for marketing YMP, TLC, TRD312, TRD313, TRD315, TRD302, TRD306, 10-year CAGR of patches sales ~40% TRD309, TRD310, ® ... Flurbiprofen
Slide 18: Four Key TAs Major innovative pipeline layout
Four Key TAs Major innovative pipeline layout TQB2922 (EGFR/c-Met BsAb) Lung LM-168 (CTLA-4TME mAb) TQB6411 (EGFR/c-Met ADC) cancer LM-2168 (PD-1/CTLA-4TME BsAb) LM-108 (CCR8 mAb) Breast Oncology GI TQB2868 (PD-1/TGF-β bifunctional fusion protein) cancer cancer LM-350 (CDH17 ADC) 90 Lanifibranor (pa
Slide 19: Lung Cancer: Global Innovative Blockbuster Drug
Lung Cancer: Global Innovative Blockbuster Drug TQB2922 (EGFR/c-Met BsAb) + TQB6411 (EGFR/c-Met bispecific ADC) for RMB100bn market Program Target Indication Phase I Phase II Phase III NDA Approved TQB2922 EGFR/c-Met BsAb Advanced malignant tumor Phase I/II Phase III (NSCLC) to be initiated soon TQB
Slide 20: Lung Cancer: LM-168 and LM-2168
Lung Cancer: Global Innovative Blockbuster Drug LM-168 (CTLA-4TME mAb) and LM-2168 (PD-1/CTLA-4TME BsAb) with reduced toxicity Program Target Indication Pre-clinical Phase I Phase II Phase III NDA Approved LM-168 CTLA-4TME mAb Advanced malignant tumor Phase I/II LM-2168 PD-1/CTLA-4TME BsAb Advanced
Slide 21: Breast Cancer: Culmerciclib TQB3616
Breast Cancer: Global Innovative Blockbuster Drug TQB3616 (CDK2/4/6 inhibitor) potential BIC treatment for HR+/HER2- breast cancer TQB3616 Indication Phase I Phase II Phase III NDA Approval Culmerciclib 2L HR+/HER2- breast cancer NDA CDK2/4/6 inhibitor 1L HR+/HER2- breast cancer NDA Addressing drug
Slide 22: Breast Cancer: TQB2102 HER2 bispecific ADC
Breast Cancer: Global Innovative Blockbuster Drug TQB2102 (HER2 bispecific ADC) potential safety superiority over DS-8201 TQB2102 Cancer Indication Phase I Phase II Phase III NDA Approval HER2 low (1L) Phase III HER2 bispecific ADC HER2+ (≥2L) Phase III Breast cancer HER2+ (neoadjuvant) Phase III Du
Slide 23: Gastrointestinal Cancer: LM-108
Gastrointestinal Cancer: Global Innovative Blockbuster Drug LM-108 (CCR8 mAb) global FIC potential, positioned to become the “anlotinib" of GI cancer LM-108 Indication Phase I Phase II Phase III NDA Approved CCR8 monoclonal antibody MSI-H/dMMR solid tumor Pivotal Trial 2L gastric cancer Phase I/II P
Slide 24: Gastrointestinal Cancer: TQB2868
Gastrointestinal Cancer: Global Innovative Blockbuster Drug TQB2868 (PD-1/TGF-β) “Immuno-Targeted-Chemo” triple mechanism, global FIC potential TQB2868 Indication Phase I Phase II Phase III NDA Approval PD-1/TGF-β bifunctional fusion protein 1L pancreatic cancer Phase III Global FIC potential 2025 A
Slide 25: Gastrointestinal Cancer: LM-350
Gastrointestinal Cancer: Global Innovative Blockbuster Drug LM-350 (CDH17 ADC) potential BIC CDH17 ADC with a differentiated linker-payload system LM-350 Indication Phase I Phase II Phase III NDA Approved CDH17 ADC Advanced solid tumors Phase I/II CDH17 is a highly promising target for gastrointesti
Slide 26: Respiratory/infectious Diseases: TQC3721
Respiratory/infectious Diseases: Global Innovative Blockbuster Drug TQC3721 (PDE3/4 inhibitor) available in both DPI and nebulizer, global BIC potential TQC3721 Dosage form Indication Phase I Phase II Phase III NDA Approval PDE3/4 inhibitor Nebulized suspension COPD Phase III DPI COPD Phase I Global
Slide 27: Innovation Driven
Innovation Driven Rapid growth in innovative products revenue as pipeline enters high-yield phase 60% 35+ Liver/metabolic Respiratory/infectious Surgery/ New Oncology diseases diseases analgesia indication % of revenue from 55% innovative 26 innovative products products 21 50% innovative products TQ
Slide 28: Major Data Readouts
Major Data Readouts Oncology Respiratory TQB3616 (CDK2/4/6 inhibitor) TQB2922 (EGFR/c-Met BsAb) TQC3721 (PDE3/4 inhibitor) • 1L HR+/HER2- BC Phase II [2025 ESMO] • EGFR-mutant NSCLC Phase I [2025 ESMO Asia] • COPD Phase II [2025 ERS] • CDK4/6i-resistant BC Phase II [2026] TQB2102 (HER2/HER2 ADC) LM-
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