Lepu Biopharmaceuticals-B(02157.HK) Profit Warning: Expecting net profit of no less than 200 million yuan by 2025

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Lepu Biopharma-B (02157.HK) announced that the company’s net profit attributable to shareholders for the year ending December 31, 2025 (“Reporting Period”) is expected to be no less than RMB 200 million, representing an increase of at least RMB 611 million compared to a loss of approximately RMB 411 million for the year ending December 31, 2024.

The board believes that the expected turnaround to profit and the significant increase in net profit attributable to shareholders are mainly due to the following factors: (i) Strong revenue growth achieved through domestic commercialization and licensing transactions: a) The significant increase in revenue mainly comes from PuYouHeng® (Pultealantide Injection) and MeiYouHeng® (Vebecortamab Injection), with MeiYouHeng® generating initial revenue after receiving approval from the National Medical Products Administration in October 2025; b) As licensing transactions expand, including external licensing of MRG007 and licensing of CTM012 and CTM013 (the company’s two preclinical TCE assets), the company’s profitability continues to grow; and (ii) For the year ending December 31, 2025, the company recognized a one-time gain due to a reclassification of an investment from an associate to a fair value through profit or loss investment. This change was due to the company no longer having significant influence over the investee. Such gains are non-recurring and non-operational.

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