Genting Xinyao (01952)'s revenue in the first half of the year increased 157% year-on-year to achieve profit breakthroughs and accelerated entry into the 3.0 development stage

The Zhitong Finance App learned that on August 19, Hong Kong stock innovative pharmaceutical company Genting Xinyao (01952) disclosed its 2026 interim results. During the reporting period, the company achieved total revenue of RMB 1,148 billion, up 157% year on year; after excluding non-cash items, gross margin reached 73.7%, realized net profit of RMB 97.23 million under international financial reporting standards, net loss narrowed 98% year on year under international financial standards, and operating expenses as a share of revenue fell 64.0 percentage points year on year, reflecting the continuous improvement of the company's operating efficiency and execution efficiency.

As of June 30, 2026, the company had sufficient cash reserves, amounting to RMB 1,859 million. After the reporting period, the company received payment of RMB 770 million from the head of state under the shibutinib (EVER001) global license and cooperation agreement in July 2026, further enriching its cash balance. The continued strengthening of the company's overall financial strength will provide strong support for the company's subsequent R&D investment and business development.

Wu Yifang, chairman of the board of directors of Genting Xinyao, said that in the first half of 2026, the company officially entered the 3.0 development stage and accelerated progress towards an innovation-driven comprehensive biopharmaceutical company. Under the guidance of the 2030 strategy, the company will continue to improve its ability to integrate innovative resources, commercialize operations and develop globally, and accelerate the transformation of innovative value by strengthening its “two-way” BD capabilities to promote the release of global value of innovative assets and the introduction and collaborative development of high-quality innovative assets.

During the reporting period, the company's commercial business continued to unleash growth potential. Sales revenue of the core product Nifukang® reached RMB 889 million. Net sales increased 94% year over year, and hospital coverage and patient scale continued to expand. The company continues to cultivate the core hospital network, expand market coverage, strengthen doctor and patient education, and accelerate the implementation of the “causal treatment, early treatment, and long-term treatment” diagnosis and treatment strategy through real-world evidence accumulation.

After Weishiping® was approved, it quickly entered the commercialization stage, and localized production construction continued to advance; Yiga® in-hospital sales continued to grow steadily, and localized production was carried out in an orderly manner. At the same time, the commercial service cooperation between the company and Hisense Biotech continues to advance. While contributing sales revenue, it further enriches the product portfolio, expands the product life cycle, and enhances the value of the commercialization platform.

Relying on the continuously upgraded and upgraded “A2MS” commercial operation system and lean management system, the company continues to improve market coverage, operational efficiency and product life cycle management capabilities, and promote the collaborative growth of innovative products and mature products.

Luo Yongqing, CEO of Genting Xinyao, said that in the first half of 2026, the company will continue to promote business execution and collaborative development around the 2030 strategy, commercialization, BD, independent research and development, and global layout. As the commercialization system continues to mature, the innovative asset portfolio continues to be enriched, and global operating capabilities are gradually improving, the company is accelerating the transformation of innovative results into clinical value and commercial value, laying the foundation for the next stage of growth.

In terms of innovative asset layout, the company continues to promote a “two-way” BD strategy. On the one hand, the company unleashed the value of its own R&D assets through global cooperation, reached an exclusive license and cooperation agreement with Travere Therapeutics for EVER001, and jointly promoted its global development and commercialization with partners to unlock the global value of innovative assets.

On the other hand, the company continues to introduce mid- and late-stage innovative assets with differentiated advantages and commercial potential around core treatment fields such as nephrology, autoimmunity, cardiovascular and ophthalmology to further improve the future product portfolio. Among them, MT1013, DMX-200, and Beijexin® strengthen the nephrological and autoimmune layout; Starbital® and Vicagra further improve the cardiovascular product portfolio; and LNZ100 and VIS-101 jointly promote the layout of the ophthalmology field.

As multiple assets enter the critical registration and commercialization stage, the company's future growth hierarchy is gradually becoming clear. Starbital® is expected to be approved for listing in the third quarter of 2026, LNZ100 and LNZ100 are expected to be approved for listing in 2027, and MT1013 is expected to be approved for listing in 2028.

In terms of R&D, the company's ability to innovate independently continues to advance. The 52-week phase IB/IIa clinical study of shibutinib achieved positive results, and a phase II basket trial was initiated in China to further explore its therapeutic potential in autoimmune kidney diseases such as focal segmental glomerulosclerosis (FSGS), minor lesion nephropathy (MCD), and IgA nephropathy (IgAN). At the same time, the company's AI+ mRNA platform continues to make progress. EVM16 completed the first human clinical data reading, and plans to launch IIT phase Ib research in the fourth quarter of 2026; the autogenerative CAR-T therapy EVM18 has initiated IIT research on various types of autoimmune diseases and is steadily advancing global IND reporting.

In terms of global layout, the company completed the acquisition of Hisense Biopharmaceuticals (Singapore), established a pan-Asia-Pacific commercialization platform, accelerated replication of commercialization capabilities proven in the Chinese market to the Asian market, and further enhanced global commercialization capabilities.

Wu Yifang said that the company will continue to build an innovative product portfolio with global competitiveness, continuously improve core capabilities such as commercialization, R&D registration, supply chain and manufacturing, deepen the global layout, and adhere to long-term value creation. Genting Xinyao will continue to advance the 2030 strategy, adhere to innovation-driven development, continue to create long-term value, continuously enhance long-term competitiveness, and strive to become a “valuable, anticipated, and trustworthy” company.

At the same time, the company continues to improve its governance system and organizational capacity building to strengthen compliance and risk management. Kangqiao Capital and the company's directors continued to increase their shares, demonstrating confidence in the company's strategic direction and long-term development prospects.