Innovent Biologics, Inc. (the “Company,” together with its subsidiaries, the “Group”) has released its product revenue figures for 2025, indicating an approximately 45% year-over-year increase to around RMB11.9 billion. This result marks the first time the Company has surpassed the RMB10 billion threshold in annual product revenue.

In the fourth quarter of 2025, the Company recorded approximately RMB3.3 billion in product revenue, reflecting a year-over-year growth rate of more than 60%. The Company attributes part of this strong performance to adjusted inventory prices of previously distributed products, influenced by the inclusion of six new drugs in the 2026 National Reimbursement Drug List.

According to the announcement, the Company’s “dual-engine growth and global innovation” strategy supported its leadership with 13 oncology products, bolstered by key products such as TYVYT® (sintilimab injection). Newly launched oncology treatments added further incremental revenue. Commercial expansion into various chronic disease areas also contributed significantly through general biomedicine assets such as mazdutide, SINTBILO® (tafolecimab injection), and SYCUME® (teprotumumab N01 injection). Another asset in the general biomedicine pipeline, PECONDLE® (picankibart injection), obtained approval for launch at the end of 2025.

The announcement highlights that efforts in next-generation immuno-oncology, antibody-drug conjugate therapies, and further innovation in cardiovascular, metabolic, autoimmune, and ophthalmology treatments continue to position the Company for sustained global development. It notes that the financial information presented is derived from internal management records and has not been audited, and may differ from figures published in subsequent audited or unaudited statements.