Hangzhou Tigermed Consulting Co., Ltd. Class A · SZSE:300347
Hangzhou Tigermed Consulting Co., Ltd. Class A — FY2025 Earnings Presentation
37 slides from Hangzhou Tigermed Consulting Co., Ltd. Class A's earnings presentation, March 2026
Slide 1: 2025 Annual Results
2025 Annual Results Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2026 www.tigermedgrp.com Confidential
Slide 2: Disclaimer
Disclaimer This document is for information purposes only and is not intended to provide any representation, in whole or in part, of the relevant matters. Please refer to the 2025 annual results announcement and other relevant announcements published on the websites of the Shenzhen Stock Exchange (w
Slide 3: Annual Results Overview
01 Annual Results Overview Confidential
Slide 4: 2025 Business Highlights
2025 Business Highlights Business Recap Ongoing Projects(1) Corporate Updates(1) Accelerated net new booking growth in 2025, 663 Drug Clinical Trials 11,130 employees over 42 countries and regions, with booking pricing stabilized including 1,964 overseas employees 241 Overseas Clinical Trials Mainta
Slide 5: New Bookings Growth Accelerated in 2025
New Bookings Growth Accelerated in 2025 Net New Bookings Backlog of Future Contracted Revenue (1) (RMB mm) (RMB mm) +20.6% +15.4% 10,158.0 18,201.5 15,776.1 8,423.0 FY2024 FY2025 FY2024 FY2025 (1)As of December 31, 2025 5
Slide 6: 2025 Key Financials
2025 Key Financials Adjusted Net Profit Attributable to the Owners of Revenue Gross Profit and Margin the Company and Margin (1) (RMB mm) (RMB mm) (RMB mm) 34.0% 27.4% 12.9% 5.2% +3.5% -16.4% -58.5% 6,832.8 6,603.1 2,242.0 1,873.2 3,425.0 3,566.0 1,302.5 854.9 1,217.1 355.1 3,178.1 3,266.8 939.5 656
Slide 7: Revenue Breakdown by China and Overseas Markets
Revenue Breakdown by China and Overseas Markets China Revenue Overseas Revenue Revenue Breakdown by Region (RMB mm) (RMB mm) +4.4% +2.4% 54% FY2024 46% 3,547.9 3,705.3 China Overseas 3,055.2 3,127.5 46% FY2025 54% FY2024 FY2025 FY2024 FY2025 China Overseas 7
Slide 8: Cost of Services
Cost of Services Cost of Services Breakdown by Nature and as % of Revenue (RMB mm) 66.0% 72.6% +13.7% 4,959.6 4,361.1 13.4% 11.5% 25.2% 20.7% 33.8% 34.0% FY2024 FY2025 Direct labor costs Direct project-related costs Overhead costs 8
Slide 9: Operating Expenses
Operating Expenses Selling and Marketing Expenses Administrative Expenses R&D Expenses Share-based Compensation and as % of Revenue and as % of Revenue and as % of Revenue and as % Revenue (RMB mm) (RMB mm) (RMB mm) (RMB mm) 3.1% 3.4% 11.2% 10.6% 3.6% 3.8% 0.9% 0.3% +13.1% -1.5% +8.1% -61.7% 736.8 7
Slide 10: Business Updates: Clinical Trial Solutions (CTS)
02 Business Updates Clinical Trial Solutions (“CTS”) Confidential
Slide 11: Clinical Trial Solutions (CTS)
Clinical Trial Solutions (“CTS”) Segment Revenue Segment Gross Profit and Margin (RMB mm) (RMB mm) 29.6% 20.1% +2.8% -30.2% 3,178.1 3,266.8 939.5 656.1 FY2024 FY2025 FY2024 FY2025 11
Slide 12: CTS Key Business Updates
CTS Key Business Updates Number of Ongoing Drug Clinical Research Number of Ongoing Drug Clinical Research Projects by Phase(1) Projects by Region(1) 831 831 62 111 27 663 663 646 646 233 48 106 43 203 95 15 14 194 193 144 140 159 116 119 536 409 422 331 276 284 12/31/2024 06/30/2025 (3) 12/31/2025
Slide 13: Overseas Clinical Operation Business Updates
Overseas Clinical Operation Business Updates Number of Ongoing Overseas Drug Clinical Research(1) ⚫ As of December 31, 2025, our U.S. team reached 1,000+ people (200+ in clinical ops/DMSA; 800+ in preclinical/laboratory ) 295 ⚫ Added 17 new clinical trials in the U.S. in 2025, with 38 ongoing 62 cli
Slide 14: CTS Key Business Updates
CTS Key Business Updates Regulatory Affairs (“RA”) ⚫ As of December 31, 2025, cumulative RA project experience reached 1,486 ⚫ Added 50 new U.S. FDA IND projects in 2025, and completed 43 FDA IND submissions with subsequent approvals/no-objections ⚫ In 2025, assisted 1 product commercially approved
Slide 15: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Pharmacovigilance (“PV”) ⚫ Our global PV team size reached over 190 people, continuously deepening its global layout in PV services, forming a comprehensive coverage of a one-stop service solution for global safety vigilance business with China as the headquarters,
Slide 16: CTS Key Business Updates (Cont'd)
CTS Key Business Updates (Cont’d) Decentralized Clinical Trials (”DCT”s) ⚫ Multiple platforms delivered in 2025: CTRM's mobile version end delivered; CTCM launched expert scale assessment features; Safety Portal 2.0 features delivered ⚫ Software copyright applications submitted for CTRM mobile phone
Slide 17: Business Updates: Clinical-related and Lab Services (CRLS)
03 Business Updates Clinical-related and Lab Services (“CRLS”) Confidential
Slide 18: Clinical-related and Lab Services (CRLS)
Clinical-related and Lab Services (“CRLS”) Segment Revenue Gross Profit and Margin (RMB mm) (RMB mm) 38.0% 34.1% +4.1% -6.6% 3,566.0 3,425.0 1,302.5 1,217.1 FY2024 FY2025 FY2024 FY2025 18
Slide 19: Clinical-related and Lab Services (CRLS) (Cont'd)
Clinical-related and Lab Services (“CRLS”) (Cont’d) Status of partial business projects within the segment Data Management and Statistical Analysis Site Management Laboratory Services Completed Conducte 300 d by team based overseas Completed 2,753 5,818 5,138 5,068 4,544 684 Conducted Completed by t
Slide 20: CRLS Key Business Updates
CRLS Key Business Updates Data Management & Statistical Analysis (“DMSA”) ⚫ Assisted in marketing of 7 innovative drugs in both China and overseas markets in 2025 ⚫ As of December 31, 2025, our global DMSA team had over 800 professionals, with significant team growth in India, Taiwan China and the A
Slide 21: CRLS Key Business Updates (Cont'd)
CRLS Key Business Updates (Cont’d) Site Management (“SMO”) ⚫ As of December 31, 2025, we had 2,753 ongoing SMO projects and have completed 436 SMO projects in 2025 ⚫ In 2025, new bookings for SMO business continued its double-digit YoY growth ⚫ As of December 31, 2025, our SMO team had over 4,000 pe
Slide 22: Other Updates
04 Other Updates Confidential
Slide 23: Updates of Investment Activities
Updates of Investment Activities Realized Investment Gain and Fair Value Gain(1) (RMB mm) ⚫ Portfolio included 206 companies in the healthcare industry and 55 investment funds as of December 31, 118.0 2025 42.3 1.4 ⚫ RMB 9,908.2 million balance as of December 31, FY2024 FY2025 2025 ⚫ Invested RMB 30
Slide 24: Employee Base
Employee Base The number of our employees increased to 11,130 as of December 31, 2025 from 10,185 as of Dec 31,2024 Employees Mix by Function (1) Employees Mix by Geography (1) Management and administration Overseas and Hong Kong China, Macao China, Taiwan China Marketing and 601 1,964 business deve
Slide 25: Tigermed Assisted in Approvals of Multiple Innovative Products Globally
Tigermed Assisted in Approvals of Multiple Innovative Products Globally as an Innovation Enabler Number of approved Class 1 new drugs in China that 2025 Selected Examples: Tigermed-Assisted Product Approvals for Marketing we served in 2025 49 ⚫ In December 2025, assisted in the NMPA approval for mar
Slide 26: Industry and Corporate Strategy Updates
05 Industry and Corporate Strategy Updates Confidential
Slide 27: 2025 China Biopharma Industry – Stronger Original Innovation Capability
2025 China Biopharma Industry – Stronger Original Innovation Capability and Global Competitiveness Regulatory Reforms Continue to Gain 77 Class 1 Innovative Drugs Over $130 Billion in Potential Out- Momentum, Accelerating Support for Approved: A Record High (1) Licensing Deal Value (2) Innovative Dr
Slide 28: Rapid Growth Maintained for Innovative Drug Clinical Trials and INDs
Rapid Growth Maintained for Innovative Drug Clinical Trials and INDs Number of New Phase I–III Clinical Trials for Number of IND Approvals for China Innovative Innovative Drugs in China (1) Drug Clinical Trials (2) 2018-2025 2018-2025 2,333 2,703 1,914 2,275 1,705 1,575 2,002 1,484 1,745 1,729 1,080
Slide 29: Rising Upfront Payment Provides a Key Alternative for China Biotechs
Rising Upfront Payment Provides a Key Alternative for China Biotechs to Access Capital as PEVC Activities Recovered in 2025 139.3 53.5 44.6 PE/VC Fund Investment to China Biotechs 29.0 Upfront Payment to China Biotechs from Out- Licensing Deals 17.4 Potential Total Values from Out-Licensing Deals do
Slide 30: China Clinical CRO Industry Expected to Recover and Regain Growth
China Clinical CRO Industry Expected to Recover and Repick Growth China Clinical CRO Market Size(1) Billion RMB Rapid Growth Cycle Peaking & COVID Slow-down Recovery & Steady Growth Stimulation CAGR 12.6% CAGR 4.4% CAGR 25.0% CAGR 75.0 27.4% 67.2 59.8 52.5 44.2 46.0 41.1 32.7 25.5 26.3 21.1 15.7 201
Slide 31: Tigermed Strategies & Outlook for 2026 and Beyond
Tigermed Strategies & Outlook for 2026 and Beyond Build a higher moat on our core Build closer ties with various Enhance our global Monitor inorganic growth clinical and related services and stakeholders, partly through our service capability and and consolidation improve our relative role as an ear
Slide 32: Appendix
06 Appendix Confidential
Slide 33: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss (RMB 000s) 2024 2025 I Total operating revenue 6,603,120 6,832,801 Including: Operating Revenue 6,603,120 6,832,801 II Total operating costs (5,610,048) (6,312,645) Including: Operating cost (4,361,107) (4,959,606) Business tax and surcharge (28,038) (34,929)
Slide 34: Net profit attributable to shareholders after deducting extraordinary gain or loss
Net profit attributable to shareholders of the Company after deducting extraordinary gain or loss (RMB 000s) 2024 2025 Net profits attributable to shareholders of the Company 405,143 887,890 Adjusted for: Loss/(gain) from disposal of non-current assets (3,563) (2,561) Government grants included in t
Slide 35: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (RMB 000s) As of December 31, 2024 As of December 31, 2025 NON-CURRENT ASSETS 22,371,331 22,181,598 Long-term equity investments 3,424,603 4,498,839 Other equity instrument investments 8,090 8,546 Other non-current financial assets 10,105,906 9,840,237 In
Slide 36: Consolidated Statement of Financial Position (Cont'd)
Consolidated Statement of Financial Position (Cont’d) (RMB 000s) As of December 31, 2024 As of December 31, 2025 CURRENT LIABILITIES 3,661,852 2,835,474 Short-term borrowings 1,912,017 511,021 Notes Payables - 5,889 Accounts payables 257,288 365,229 Contract liabilities 790,737 1,079,155 Employee be
Slide 37: Hangzhou Tigermed Consulting Co., Ltd.
Hangzhou Tigermed Consulting Co., Ltd. 300347.SZ / 3347.HK March 2026 www.tigermedgrp.com Confidential
Hangzhou Tigermed Consulting — FY2025 Earnings Presentation on 6ix