Beigene (688235.SH) announced its preliminary financial results for 2025, reporting total operating revenue of 38.205 billion yuan, a 40.4% year-on-year increase. The company achieved net profit attributable to shareholders of 1.422 billion yuan, marking a significant turnaround from loss to profitability.

In 2025, product revenue reached 37.77 billion yuan, compared to 26.994 billion yuan in the previous year. This growth was primarily driven by increased sales of Brukinsa (zanubrutinib), authorized products from Amgen, and tislelizumab.

Global sales of Brukinsa totaled 28.067 billion yuan in 2025, representing a 48.8% year-on-year increase. The drug has solidified its position as a global leader in the BTK inhibitor market.

The company plans to conduct an interim analysis of the Phase 3 MANGROVE trial in the first half of 2026. This trial evaluates Brukinsa combined with rituximab versus bendamustine plus rituximab as first-line treatment for adult patients with mantle cell lymphoma (MCL).

Beigene projected its 2026 revenue to range between 43.6 billion and 45 billion yuan, with gross margin expected to remain at the high end of approximately 80%. After deducting adjusted operating costs and expenses, revenue is forecasted to be between 9.8 billion and 10.5 billion yuan.

In today's A-share market session, Beigene's stock closed down 5.65%, with a market capitalization of 405.88 billion yuan.