HBM (2142) H1 2025 earnings summary

Executive summary

• Achieved significant milestones in H1 2025, including major global collaborations, robust financial growth, and advancement of clinical and preclinical programs in immunology, oncology, metabolic, and CNS diseases.

• Entered landmark strategic partnerships with AstraZeneca, Otsuka, and Windward Bio, securing substantial upfront, milestone, and royalty payments, enhancing global reach and pipeline value.

• Expanded platform-based collaborations and incubated ventures in innovative therapeutic areas.

Financial highlights

• Revenue rose 327.5% year-over-year to US$101.3 million in H1 2025, mainly from molecule license and research & technology fees.

• Net profit surged to US$73.0 million from US$1.4 million in H1 2024.

• R&D costs increased to US$18.0 million, reflecting pipeline advancement.

• Cash and cash equivalents reached US$320.7 million as of June 30, 2025.

• Basic and diluted EPS were US$0.09, up from US$0.00 year-over-year.

Outlook and guidance

• Confident in continued global expansion and value realization through innovation and partnerships, with plans to accelerate clinical trials and expand into immunology and inflammation.

• Focus on developing assets from proprietary platforms and expanding global collaborations.

• Plans to further optimize discovery efficiency and accelerate portfolio value.