Baili Tianheng: Revenue is expected to decrease by 56.72% to 2.52 billion yuan in 2025, with a total of 17 innovative drugs in clinical trial stages.

LightningPacketLoss · 2026-03-04T18:30:18+00:00

Baili Tianheng announced that in 2025, operating revenue decreased by 56.72% year-on-year, and net profit attributable to the parent company was -1,050.6533 million yuan, a decrease of 128.34% year-on-year. The main reasons are that the intellectual property income recognized in the previous year was higher than the current milestone income, and increased R&D investment led to higher expenses.

LightningPacketLoss

2026-03-04 18:30:18

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Recently, Baili Tianheng announced that in 2025, the company achieved a total operating revenue of 2,520,113,300 yuan, a decrease of 56.72% year-on-year; net profit attributable to owners of the parent was -105,065,300 yuan, a decrease of 128.34% year-on-year; net profit attributable to owners of the parent after deducting non-recurring gains and losses was -116,696,910 yuan, a decrease of 132.10% year-on-year.

The announcement pointed out that the main reasons for the profit decline during the reporting period include the decrease in revenue, primarily because the intellectual property income recognized from the BMS down payment received in the same period last year was greater than the milestone income recognized during the reporting period.

The company continued to increase R&D investment, resulting in a significant year-on-year increase in R&D expenses, and the funds raised from issuing A-shares to specific investors were received, leading to a substantial increase in the company’s total assets and owners’ equity attributable to the parent company compared to the same period last year.

(Baili Tianheng Announcement)

(Edited by: Yang Yan, Lin Chen)

Keywords: Medical

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