百济神州(6160.HK):1Q25首次实现GAAP盈利 收入增长与管线兑现形成正循环

华兴证券
23 Jun

盈利能力持续改善:根据公司2024 年年报,百济神州全年实现收入38.10 亿美元,同比增长55.0%;归母净亏损同比收窄27%至6.45 亿美元。得益于主力产品放量与费用控制,根据公司1Q25 报告,2025 年第一季度公司实现收入11.2 亿美元,同比增长48.6%;GAAP 净利润127 万美元,扭转去年同期及上季度的亏损局面,成为历史上首次实现季度GAAP 盈利的季度。公司同期经营活动...

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