Jiangsu Hengrui Pharmaceuticals Co., Ltd. Class A · SSE:600276
Jiangsu Hengrui Pharmaceuticals Co., Ltd. Class A — Investor Presentation (August 2025)
28 slides from Jiangsu Hengrui Pharmaceuticals Co., Ltd. Class A's investor presentation, August 2025
Slide 1: Management Presentation
Management Presentation August 2025 HENGRUI 1
Slide 2: Disclaimer
Disclaimer THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO BE, AND SHALL NOT BE CONSTRUED AS, AN OFFER, INDUCEMENT, INVITATION, SOLICITATION, COMMITMENT OR ADVERTISEMENT WITH RESPECT TO THE PURCHASE, SUBSCRIPTION OR SALE OF ANY SECURITY AND NO PART OF IT SHALL FORM THE BASIS
Slide 3: Table of Contents
Table of Contents 01 02 03 04 Company Clinical Globalization Financials Overview Updates 04 12 20 24 3
Slide 4: Company Overview
(D HENGRUI Company Overview SECTION 1
Slide 5: Hengrui: A Leading Global Biopharma
Hengrui: A Leading Global Biopharma Leading Position Innovation Powerhouse Global Recognition No.1 in the World’s 2nd MNCs’ Vote of Confidence No.1 in China Largest Pharma Market1 15 Out-licensing Deals7 23 Commercialized NME Drugs4 Listed in 2025 Fortune China 500 Total Deal Value US$26Bn+8 LARGEST
Slide 6: 1H2025 Results Updates
1H2025 Results Updates Significant achievements across commercialization, pipeline delivery, global expansion and financials 6 NEW NME Drugs Launched + 6 NEW NME Indications Approved Excellent Recaticimab (PCSK9) Fosrolapitant and Palonosetron Camrelizumab (PD-1) Commerciali- Ivarmacitinib (JAK1) Hy
Slide 7: Recent Policy Trends Encouraging Innovative Drug Development
Recent Policy Trends Encouraging Innovative Drug Development Support for innovation from payment side, with the development of commercial health insurance as a primary driver Favorable Policies Support For Innovation Hengrui Strategies NRDL and Commercial Insurance Innovative Drug List (Category C)
Slide 8: Our Diversified Innovative Pipeline across Targeted Therapeutic Areas
Our Diversified Innovative Pipeline across Targeted Therapeutic Areas Accelerating NDA/BLAs in near-term Broad TA with focus on 4 In-depth potential FIC/BIC programs High-quality early-stage pipelines to fuel future growth Oncology Metabolic / Cardiovascular Immunological / Respiratory Neuro Others
Slide 9: Business Development: Continued Strong Recognition by Global Partners
Business Development: Continued Strong Recognition by Global Partners GSK MSD Merck Healthcare KGaA HRS-9821 (PDE3/4) HRS-5346 (Lp(a)) SHR7280 (GnRH) + Options of 11 Innovative Programs Upfront Upfront Milestone Upfront Payment Milestone Sales Payment Payment Sales Payment Milestone Sales Payment Ro
Slide 10: 1H2025 Financial Highlights
1H2025 Financial Highlights Continuous growth of innovative drug sales and licensing revenue with improving profitability (RMB MM, unless otherwise stated) Revenue Solid and Improving Profitability Improving Efficiency & Continuous R&D Licensing Gross Profit and Margin SG&A Expenses1 and as % of Tot
Slide 11: Standing at the Inflection Point
Standing at the Inflection Point 1 2 3 Accelerated monetization of innovative products Rising Innovator Game-changer Entering the harvest period Unleash the power of in-house Step up for Global expansion, and new era of innovation synergistic innovation + through partnership + in-house transformatio
Slide 12: Clinical Updates
") HENGRUI Clinical Updates SECTION 2
Slide 13: "Hengrui Speed": Pipeline Updates during Reporting Period
“Hengrui Speed”: Pipeline Updates during Reporting Period Significant progress achieved in pipeline advancement NDA/BLA NDA/BLA Approval New to Ph1 (15) Ph1 -> Ph2 (22) Ph2-> Ph3 (10) Submission (5) (12) SHR-3792 HRS-6768 HRS-4508 SHR-2017 Trastuzumab Rezetecan (HER2 Dalpiciclib (CDK4/6) Camrelizuma
Slide 14: Zoom in Near-term Catalysts
Zoom in Near-term Catalysts Product / Indication launch expected in 2025-2027 12 Catalysts 47 NDA/BLA Approvals 2027 Achieved Trastuzumab Herombopag Expected in 2025-2027 2026 Rezetecan HER2 ADC Pyrotinib EGFR / HER2 / HER4 TPO-R Hepatopathy-related CRC; BC thrombopenia BC 2025 Dalpiciclib Trastuzum
Slide 15: HRS9531 (GLP-1/GIP) Ph3 Topline Result
HRS9531 (GLP-1/GIP) Ph3 Topline Result Ph3 Trial Design Positive Data Readouts with Satisfying Efficacy and Safety Profile Next Milestones Superior Efficacy Achieved a mean weight loss Up to 88.0% of participants of up to 19.2% achieved at least 5% weight loss 567 Participants, of whom for the 6mg-d
Slide 16: SHR-A2102 (Nectin-4 ADC) Ph1 Data Readout
SHR-A2102 (Nectin-4 ADC) Ph1 Data Readout A multicenter phase 1 trial (NCT05701709) evaluating SHR-A2102 in a variety of other advanced Solid Tumors Promising Efficacy Observed across Various Solid Tumors Response by Tumor Type NSCLC HR+/HER2-BC TNBC HNSCC All patients NSQ EGFR-wt SQ (N=20) (N=32) (
Slide 17: SHR-2004 (FXI) Ph2 Data Readout
SHR-2004 (FXI) Ph2 Data Readout Promising Ph2 results show SHR-2004 significantly reduces VTE risk with a favorable safety profile in TKA patients Highlight & MoA A phase 2 trial (NCT05752461) evaluating SHR-2004 in patients undergoing elective TKA for the prevention of VTE • An anti-FXI antibody SH
Slide 18: Ivarmacitinib (JAK1) Ph3 Data Readout for Alopecia Areata
Ivarmacitinib (JAK1) Ph3 Data Readout for Alopecia Areata Demonstrated promising efficacy and safety profile for moderate-to-severe alopecia areata Trial Design Trial Results Conclusion % of Patients Achieved a SALT • Patients were randomized (1:1:1) to receive daily Score ≤20 at Week 24 oral ivarma
Slide 19: Upcoming Data Readout in 2H 2025
Upcoming Data Readout in 2H 2025 Published In plan 2025H1 2025H2 AAD \ AACR ASCO ESC \ WCLC EASD Ivarmacitinib Trastuzumab Dalpiciclib SHR-A2102 SHR-2004 HRS9531 SHR-4849 JAK1 Rezetecan CDK4/6 Nectin-4 ADC FXI GLP-1/GIP DLL3 ADC Ph3 in alopecia HER2 ADC Ph3 in adjuvant Ph1 in advanced Ph1 in atrial
Slide 20: Globalization
fT HENGRUI ~_.\ Globalization
Slide 21: Global Partnership Models and In-house Capabilities to Maximize the Impact of Innovation
Global Partnership Models and In-house Capabilities to Maximize the Impact of Innovation Driving global growth with flexible models Strategic 1.0 Out-licensing 2.0 NewCo 3.0 Partnerships In-house Operation3 Pharma/Biotech Venture Funds Large Pharma (MNCs) 14 R&D Centers Globally Together with funds
Slide 22: Out-licensing / NewCo: Strong Track Record (since 2018)
Out-licensing / NewCo: Strong Track Record (since 2018) US MSD Korea HRS-5346 (Lp(a)) Value-add for Hengrui US$2Bn1 + Royalty CG Invites Camrelizumab High financial rewards IDEAYA (PD-1) SHR-4849 (DLL3 ADC) US$1Bn1 + Royalty ~US$25Bn HLB Kailera Therapeutics HRS-7535, HRS9531, HRS- Pyrotinib US$1Bn+
Slide 23: Business Development Case Studies: Continued Strong Recognition by Global Partners
Business Development Case Studies: Continued Strong Recognition by Global Partners Adhering to the dual strategy of in-house R&D and open collaboration to extend presence in overseas markets, integrate more deeply into the global innovation network, and maximize product value The Largest Ever Out-li
Slide 24: Financials
fT HENGRUI » Financials SECTION.4
Slide 25: Rapid Revenue Growth
Rapid Revenue Growth The continuous growth in our total revenue during 1H2025, with increasing revenue from our innovative drugs and recurring licensing revenue Revenue Sales of Innovative Drugs RMB MM RMB MM 15.9% 55.3% % of Drug Sales 1H24-1H25 YoY 50.7% 15,761 77 13,601 1,991 76 1,391 7,570 6,150
Slide 26: Improving Operating Efficiency Enabling Further Dedication to Innovation
Improving Operating Efficiency Enabling Further Dedication to Innovation SG&A expenses have been decreasing relative to revenue due to effective cost control policies, leading to higher profitability, while continuous R&D expenditures demonstrated our strong commitment to innovation SG&A Expenses1 R
Slide 27: Balanced Capital Allocation to Enhance Shareholder's Value
Balanced Capital Allocation to Enhance Shareholder’s Value Healthy operating cash flows enable us to continuously invest in R&D and steadily distribute dividend to our shareholders, enhancing shareholder’s return and long-term value RMB 3.2Bn Healthy Operating 1H2025 R&D Expenses Continuously invest
Slide 28: 1H2025 Financials Highlights
1H2025 Financials Highlights RMB MM 1H2025 % Revenue % Drug Sales 1H2024 % Revenue % Drug Sales % YoY Sales of Innovative Drugs 7,570 48.0% 55.3% 6,150 45.2% 50.7% +23.1% Sales of Other Drugs 6,123 38.8% 44.7% 5,984 44.0% 49.3% +2.3% Total Drug Sales 13,693 86.9% 100.0% 12,134 89.2% 100.0% +12.8% Li
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