3sbio, Inc. · HKEX:1530
3sbio — H1 2025 Earnings Presentation
44 slides from 3sbio's earnings presentation, Sep 1, 2025
Slide 1: 2025 Interim Results Presentation
2025 Interim Results Presentation 1 s t S e p t e m b e r, 2 0 2 5
Slide 2: Disclaimer
Disclaimer This document has been prepared by 3SBio Inc. (the "Company") solely for selected recipients for information purposes only. You must read the terms, conditions, limitations, notifications, restrictions, acknowledgments and representations in the following (collectively, the "Terms") befor
Slide 3: Agenda
Agenda Interim R&D Financial Q&A Results Review 1 Overview 2 3 4 3
Slide 4: Interim Results Overview
01 Interim Results Overview 4
Slide 5: 2025 Interim Results Overview
2025 Interim Results Overview Net profit attributable to Revenue owners of the parent EBITDA 4.4 Bn RMB Maintained stable 1.4 Bn RMB YOY 24.6% 1.8 Bn RMB YOY 11.6% 4.4 4.4 1.8 1.4 1.6 1.1 2024H1 2025H1 2024H1 2025H1 2024H1 2025H1 5
Slide 6: Financial Structure Further Optimized; Cash Resources Support Long-Term Development
Financial Structure Further Optimized; Cash Resources Support Long-Term Development Interest-bearing liabilities and bonds Active R&D investment 30+ decreased from 3.5 Bn 1.9 Bn RMB 30+ R&D pipeline candidates, and more early- R&D Pipeline Candidates RMB 2024 year-end to stage drug targeting innovat
Slide 7: Core Products Overview
Core Products Overview RMB Mn TPIAO 5,062 Recombinant human Revenue: 2.4 Bn RMB 3,397 4,205 thrombopoietin 2,371 ( rhTPO ) injection -4.2% YOY 2022 2023 2024 2025H1 RMB Mn Mandi 1,337 Minoxidil tincture, Revenue: 680 Mn RMB 1,124 894 foam , and extended 682 products like Mandi shampoo 24.0% YOY 2022
Slide 8: Accelerate International Footprints
Accelerate International Footprints 4 10+ 35+ 70% products sold international GMP covered international YOY revenue from overseas certificates markets overseas • EPIAO • GMP system of • 50 SKUs obtained marketing • Outstanding quality of • Yisaipu manufacture plant approval document from 20+ drugs a
Slide 9: Our Partnership with Pfizer
Our Partnership with Pfizer 707: PD-1&VEGF Bispecific Antibody A Potential Next-generation I/O Therapy 1.25 Bispecific Antibody with Tetravalent Structure: US$bn 4.8 +Each “arm” Double can bind both 100 up to 150 US$bn PD-1 and -Digit VEGF US$mn US$mn Up-front Payment Milestone Payment Royalties Sha
Slide 10: 707: Unique Molecular Structure
707: Unique Molecular Structure Bispecific Antibody with Tetravalent Structure Cooperative Binding Potentially Localized Unique IgG4 Fc Region Activity PD-1 binding affinity increased Due to high VEGF levels in Potentially decreasing unwanted 100X in presence of VEGF tumors, may confer safety immune
Slide 11: 707: Preclinical Data Shows Best-in-Class Potential
707: Preclinical Data Shows Best-in-Class Potential Improved VEGF Binding Affinity Improved PD-1 Binding Affinity Stronger Inhibition of HUVEC Proliferation coat: VEGF165-his 1µg/mL coat: PD1-his 2µg/mL 140 3 3 Control Growth (%) OD450(nm) OD450(nm) 90 2 2 1 1 40 0 0 (10) 10 -2 10 -1 10 0 10 1 10 2
Slide 12: 707: Encouraging Data for Ph II of Monotherapy NSCLC
707: Encouraging Data for Ph II of Monotherapy NSCLC Safety Profile Generally Deep and Durable Responses with cORR of 64.7% Manageable 10 mg/kg SSGJ-707 Administered Once Every Three Weeks (N=34) Adverse events: 10 mg/kg Q3W(N=34) Treatment-related AE 33 (97.1%) Grade ≥3 TRAE 8 (23.5%) Deep and Dura
Slide 13: 707: A Potentially Transformative MOA
707: A Potentially Transformative MOA Similar Benefit Rates Across Similar Benefit Rates Across Squamous and Levels of Non-squamous Subtypes Tumor PD-L1 Expression 100% 100% 100% 96% 100% 95% 75% 80% 77% 80% 64% 62% 60% 60% 40% 40% 20% 20% 0% 0% SQ （N=12） NSQ （N=22） TPS 1-49% （N=21） TPS ≥50% （N=13）
Slide 14: 707: Pfizer is Actively Promoting Global Development
707: Pfizer is Actively Promoting Global Development Explore 707 in multiple tumor types and combination opportunities Medical oncologists across clinical >50 development and medical affairs Countries, and over 4,000 sites, 45 participating in ongoing oncology clinical trials Near-Term Objectives •
Slide 15: 707: Potential Development Opportunities
707: Potential Development Opportunities THORACIC GENITOURINARY Nsq NSCLC：~104K US patients UC：~19K US patients Sq NSCLC： ~37K US patients RCC: ~16K US patients ES-SCLC：~33K US patients Potential to address 350K+ GASTROINTESTINAL OTHER CANCERS US patients CRC：~63K US patients ~80K+ US patients ：Incl
Slide 16: 707: Next Generation of IO Therapy, Potential Backbone
707: Next Generation of IO Therapy, Potential Backbone 50 US$bn • Global revenue of PD-(L)1 Ab surpassed 50 Bn USD in 2024，PD-(L)1 global market size is expected to reach 99 Bn USD in 2029 2024 • Keytuda and Opdivo approved decades of Keytruda® Opdivo ® indications worldwide, PD-(L)1 therapy has (Pe
Slide 17: Retain the Global Rights of Supplying
Retain the Global Rights of Supplying FDA&EMA GMP standard 01 • Manufacture, examination, storage fully automated intelligent factory • High standard quality system Manufacturing Base of 75,000L+ biologics DS capacities 02 • 6*12,000L stainless steel bioreactors; Large-scale DS and DP • 3*1000L disp
Slide 18: R&D
02 R&D 18
Slide 19: R&D Pipeline - 30 Candidates
R&D Pipeline - 30 Candidates Therapeutic Area Candidates Pre-clinical IND Ph I Ph II Ph III NDA SSS06 Long-acting rhEPO NDA Nephrology Remitch-CLD pruritus SSS17 HIF inhibitor TPO 106-CLDT SSS20 Eltrombopag ANDA NDA 10 CS1003 anti-PD1 Ab IND& Phase I 602 anti-EGFR Ab 609A anti-PD1 Ab Hematology 707
Slide 20: Strong Momentum Support Long-term Growth
Strong Momentum Support Long-term Growth Commercialized Product Candidates Layout in Tiers Mandi Minoxidil Tincture Hematology/ Oncology Dermatology /Metabolism Nephrology • 705 • SSS06 • 706 • SSS17 EPO Hematology/ Oncology • SSS40 • SSS59 Recombinant Human SSGJ-707 • TPIAO CLDT • SPGL008 Erythropo
Slide 21: Hematology & Oncology
Hematology & Oncology Bispecific Antibody Mono 1L PD-L1+NSCLC Phase III (BTD) 707 1L NSCLC Combo with Chemo Phase II anti-PD1/VEGF BsAb mCRC Phase II Exercises the option of China rights EC/PROC Phase II 705 HER2+ Advanced Solid Tumors Phase II Only actively ongoing anti-PD1/Her2 BsAb clinical trial
Slide 22: 705: Anti-PD-1/PD-L1 BsAb for Pan-HER2 Expressing Tumors
705: Anti-PD-1/PD-L1 BsAb for Pan-HER2 Expressing Tumors • 705 connects ScFv of anti-PD1 to the heavy chain Fc segment of Trastuzumab through GGGGS, 705 and simultaneouslyinhibits PD-1/PD-L1 signaling pathway and HER2 signaling pathway • Combines targeted therapy and immune therapy, expected to achi
Slide 23: 706: Anti-PD-1/PD-L1 BsAb targeting Pan-tumors
706: Anti-PD-1/PD-L1 BsAb targeting Pan-tumors Demonstrating chemical and physical properties while preserving the dual-targeting functionality of the bispecific antibody, 706 with distinct synergistic effects of bispecific antibody Excellent physicochemical properties anti PD-1/PD-L1 BsAb Achieving
Slide 24: SSS59: Anti-MUC17/CD3/CD28 Trispecific Ab for Gastrointestinal Tumors
SSS59: Anti-MUC17/CD3/CD28 Trispecific Ab for Gastrointestinal Tumors SSS59 • MUC17 is highly expressed in various Gastrointestinal tumors (including gastric cancer and colorectal cancer), and demonstrate a potentialgastrointestinal tumors-associated Anti-MUC17/CD3/CD28 trispecific Ab target ; • SSS
Slide 25: SPGL008: Anti-B7H3-IL15 Fusion Protein, Targeting Pan-tumor
SPGL008: Anti-B7H3-IL15 Fusion Protein, Targeting Pan-tumor SPGL008 • Combination of IL15 and IL15Rα localizes to specific B7H3 Ab /IL-15 fusion protein Mutation cell membranes, and binds to the β/γ receptor (CD122 and CD132) shared with IL2, thereby stimulating adjacent • SPGL008 is an IL15 bifunct
Slide 26: Nephrology
Nephrology Biopharmaceuticals Renal Anemia with NDA Accepted Maintenance Dialysis SSS06 Phase II Long-acting rhEPO Cancer Related Anemia (CIA) Fill the gap in domestic long-acting Q3W erythropoietin Once every three weeks Small Molecule Phase II Non-dialysis Renal Phase II data showed efficacy was S
Slide 27: SSS17: Optimized Choice for CKD Anemia and POA Patients
SSS17: Optimized Choice for CKD Anemia and POA Patients HIF inhibitor: Inhibiting PH enzyme activity, blocking degradation effects on hypoxia-inducible factor (HIF), enhancing HIF-α levels, thereby SSS17 promots the synthesis of key proteins such as erythropoietin (EPO) and threats renal anemia. The
Slide 28: Autoimmune
Autoimmune Establishing the Most Competitive Autoimmune Pipeline Moderate-to-severe PsO NDA Acceptable 608 AS Phase II Completed anti-IL-17A Ab “Cure” for PSO Nr-axSPA Phase II 613 AG NDA Acceptable anti-IL-1β Ab PGF Phase II Adult AD (Monotherapy) Phase III 611 Adult AD (with TCS) Phase III anti-IL
Slide 29: 608 (anti-IL-17A mAb)
608 (anti-IL-17A mAb) 608: Achieving a “Cure" aspiration for PsO treatment Dosing interval extended to Q4W or Q8W in maintenance after 12 weeks: W52: Efficacy of PASI75、sPGA0/1 and PASI90 responses was highly effective and sustained PASI75 PASI90 sPGA0/1 93.70 93.60 92.60 92.50 89.30 89.40 % % % % %
Slide 30: 613 (anti-IL-1β mAb)
613 (anti-IL-1β mAb) 613: Comprehensive Disease Management for Gouty Arthritis Patients Enrollment of Phase III Acute Gouty Arthritis (PGF) Phase One dose prevents Progress ranks No.2 in Gouty Arthritis (AG) was II results are positive and China ecurrence for 3~6 months completed, with positive pre-
Slide 31: 611 (anti-IL-4R mAb): Cover AD Patients of All Ages
611 (anti-IL-4R mAb): Cover AD Patients of All Ages 611 Adult moderate-to-severe AD: Phase III interim clinical analysis results are positive • Week 16 data indicate that, compared with placebo, moderate- • Other secondary endpoints, including EASI-90, EASI-50, and • Efficacy responses across all in
Slide 32: 611 (anti-IL-4R mAb): Significant Efficacy in Ph II for CRSwNP & COPD
611 (anti-IL-4R mAb): Significant Efficacy in Ph II for CRSwNP & COPD CRSwNP — Phase II study shows significant efficacy, 611 presents a favorable safety profile Dose group NPS 2 NCS 2 • The W16 data showed that the efficacy of all 611 doses (Q2W and Q4W) was clear and significantly better than W16
Slide 33: 610: Ranks NO.1 progress in China
610 (anti-IL-5 mAb) 610：Ranks NO.1 progress in China • Phase III in Eosinophilic Asthma is enrolling, progress ranks No.1 in China Dosing Lower Explore 19.9 Mn 1.9 Bn USD regimen for longer dosing • Clinical exploration on: various during dosing Severe Eosinophilic Asthma Benchmark Sales of populati
Slide 34: 626: 2nd Generation BDCA2 mAb with BIC Potential
626: 2nd Generation BDCA2 mAb with BIC Potential SSGJ-626 Huge Unmet Medical Needs Through inhibiting plasmacytoid dendritic cell Mechanism (pDC), the secretion of IFNα was inhibited. Thus regulating the activity of a range of immune cells Strong BDCA2 affinity ( KD: 2.48E-11) Very high Degree of hu
Slide 35: 627: 1st IND Approved TL1A mAb in China
627: 1st IND Approved TL1A mAb in China TL1A —A Breakthrough Target for Inflammatory Bowel Disease (IBD) Treatment: Clinical Modality Target Representative Drug Indications Characteristics MOA Status Small Molecule JAK1 Upadacitinib Ph3 CD Short half-life, drug resistance TNF-a Adalimumab Approved C
Slide 36: 601A (anti-VEGF mAb) BRVO Phase III met the primary endpoint
601A (anti-VEGF mAb) 601 BRVO Phase III met the primary endpoint ➢ 601 vs Ranibizumab (control group) for BRVO-induced macular edema：At 24 weeks post-treatment, the improvement in best-corrected visual acuity (BCVA) of subjects at 24 weeks post-treatment met the primary endpoint. ✓ The dosing freque
Slide 37: R&D Centers
R&D Centers Shen Yang Shang Hai Hang Zhou Dong Guan Shen Zhen Italy Biopharmaceuticals/ Biopharmaceuticals Small molecule CGT / mRNA Biopharmaceuticals DP small molecule Anchored in Needs FIC Innovation Multivariate Modality Exploration Prioritizing the clinical value of Develop innovative drug cons
Slide 38: Financial Review
03 Financial Review 38
Slide 39: 2025 Interim Results Overview
2025 Interim Results Overview RMB Mn Statement of Profit or Loss 2025H1 2024H1 YOY Revenue 4,355.5 4,389.4 -0.8% Gross profit 3,715.8 3,797.4 -2.1% R&D costs 547.5 476.2 15% R&D costs ratio 12.6% 10.8% +1.8 Pct Net profit attributable to owners of the parent 1,358.2 1,089.9 24.6% Net profit attribut
Slide 40: R&D Costs Ratio Improved, Comprehensive Finance Costs Further Decreased
R&D Costs Ratio Improved, Comprehensive Finance Costs Further Decreased Selling and Administrative Comprehensive R&D Costs Ratio R&D Costs Distribution Expenses Expenses Finance Costs Improved Mn RMB • R&D exploration 1,594 1,616 • Speed-up of clinical trials 548 • Construction of R&D talents 283 23
Slide 41: Enhanced Equity Return, Optimized Capital Structure
Enhanced Equity Return, Optimized Capital Structure Interest-bearing Loan Gearing Ratio ROE Improved to 14.7% 25.0% 19.7% 14.7% Bn RMB 4.2 12.3% 9.9% 3.5 1.8 2024 2025H1 2024H1 2024 2025H1 1. Leverage ratio = ( bank borrowings + bonds payable + lease liabilities) / net assets 41
Slide 42: BD Strategy
BD Strategy Cooperate Promote innovative products Strategic layout novel targets and cutting-edge with external partners to maximize the commercial developed by the Group's technology platform to technologies value of pipeline, the global market addressing unmet clinical needs maximizing patient-cen
Slide 43: Q&A
04 Q&A 43
Slide 44: Thanks
THANKS 3SBio Inc. (1530.HK) Investor Relations ir@3sbio.com 珍 爱 生 命 · 关 注 生 存 · 创 造 生 活 CHERISH LIFE CARE FOR LIFE CREATE LIFE 44