SIMCERE PHARMA (02096) surged over 6% again. As of press time, the stock was up 4.4% to HK$14.72, with turnover reaching HK$210 million.

On the news front, SIMCERE PHARMA recently announced its first-half results. Market analysis indicates that SIMCERE PHARMA's 1H25 performance achieved high growth as expected, with revenue and adjusted net profit growing 15% and 21% year-on-year respectively, meeting expectations. Innovation drug-related revenue grew 26%, with its proportion of total revenue increasing by 6.6 percentage points year-on-year to 77.4%.

The company's overall R&D investment in 1H25 exceeded 1 billion yuan, accounting for nearly 30% of total revenue, with significant innovation R&D achievements including: the launch of dalirexant and suvizictamab; completion of two BD overseas deals with AbbVie and NextCure for GPRC5D/BCMA/CD3 trispecific antibody and CDH6 ADC respectively, with the former expected to see formal partner exercise after completing Phase I dose escalation in 2026.

Market analysis suggests that SIMCERE PHARMA's first-half performance exceeded market expectations, mainly driven by the innovative drug business. In 1H25, the company's innovative drug business revenue reached 2.776 billion yuan, up 26.0% year-on-year, with revenue proportion increasing 3.1 percentage points from 74.3% in 2024 to 77.4%. Innovative drugs such as Kesaira and Xianbiaxin sublingual tablets achieved rapid volume growth. The company expects Keweike (dalirexant) to officially launch in 2H25. Meanwhile, three of the company's products (suvizictamab, dalirexant, and Xianbiaxin sublingual tablets) were included in the recent commercial insurance catalog, which is expected to drive continued rapid growth in innovative drug revenue.