Pharmaceutical Biotech (02269) raised its annual results guidelines and continued to grow rapidly

The Zhitong Finance App learned that Yao Ming Biotech (02269) published its 2026 interim report, with strong performance growth. Revenue increased 18.4% year on year to 11.8 billion yuan (up 23.4% year on year in US dollars), and adjusted net profit to mother increased 38.4% year on year to 3.3 billion yuan.

At the same time, Yao Ming Biotech announced an increase in its annual performance guidelines. It is expected that in 2026, the revenue growth rate will increase to 20-23% compared to the same period in terms of fixed exchange rates (previously estimated 16-20%); the revenue growth rate in reporting terms will increase to 15-18% compared to the same period (previously estimated 13-17%). In the next three years, the compound growth rate of the company's overall revenue is expected to be 20%, and the compound growth rate of production business revenue is expected to be 30%. The company said there is strong demand for growth in the global biopharmaceutical market and is confident that it will continue to accelerate business growth with technological leadership and excellent execution in the 2026 fiscal year.

The revised guidelines release a more clear signal of growth: as the project pipeline continues to expand and consolidate the growth foundation, and the share of complex molecules increases to promote business structure upgrading, the accelerated transformation of late-stage and commercial projects further amplifies the value of individual projects.

The company's project pipeline has grown across the board, and quantity and quality have risen sharply. As of June 30, 2026, the company signed 169 new integrated projects, bringing the total number of integrated projects to 1,064. Among them, complex molecular projects account for more than 70% of new projects and account for more than 50% of total projects, becoming the core driving force for business growth.

The production business ushered in centralized project transformation and became an important engine for the company's growth. Currently, the company supports 78 clinical phase III projects and 28 commercial production projects, including 5 “winning molecules” projects transferred in the first half of the year. 34 PPQ projects have been scheduled in 2026, and 30 PPQ projects have been scheduled in 2027. The 100% PPQ project success rate has been maintained so far, providing greater certainty for subsequent commercialization growth.

Order reserves further enhance future revenue visibility. The company's total outstanding orders reached US$25.1 billion, of which uncompleted orders within 3 years were approximately US$5.5 billion, an increase of 30% over the previous year, providing strong support for recent revenue growth.