Asymchem Laboratories (Tianjin) (002821) Q2 2025 earnings summary

Executive summary

• Achieved revenue of ¥3.19 billion in H1 2025, up 18.2% year-over-year; net profit attributable to shareholders rose 23.71% to ¥617 million, with profit growth outpacing revenue growth by 5.51 percentage points.

• New CDMO business orders exceeded 150 clients; order backlog (excluding H1 revenue) reached $1.088 billion, supporting continued growth.

• Overseas revenue and client base expanded, with European market revenue up over 200% year-over-year.

Financial highlights

• Operating cash flow was ¥701.7 million, down 19.67% year-over-year; total assets at period-end were ¥19.85 billion, up 2.92% from year-end 2024.

• Basic and diluted EPS were ¥1.68, up 20% year-over-year; gross margin for small molecule CDMO was 47.79%, up 0.6 percentage points.

• Net margin and return on equity improved; weighted average ROE was 3.59%, up 0.72 percentage points.

• Non-recurring profit items contributed ¥51.35 million, mainly from government grants and fair value changes.

Outlook and guidance

• Order backlog of $1.088 billion (excluding H1 revenue) provides strong visibility for H2 2025 and beyond.

• Small molecule and emerging business segments expected to maintain high growth, with multiple PPQ (process validation) projects in the pipeline.

• Overseas capacity expansion and new technology platforms to drive future growth.