JIUYUAN GENE (02566) 2025 performance report: Net profit stabilizes, breakthrough in innovative drug pipeline.

On March 30th, JIUYUAN GENE (02566) released its 2025 annual performance announcement. The announcement revealed that the company achieved a operating income of 1.306 billion yuan in 2025, a net profit of 138 million yuan, a gross profit margin of 80.7%, and a net profit margin of 10.6% attributable to the mother. JIUYUAN GENE stated that the fluctuation in income was mainly influenced by the sales revenue of orthopedic products, which was the result of a combination of policy environment and proactive adjustments in company strategy. In the face of the deep adjustments in the pharmaceutical industry over the past year, the company maintained strategic focus, demonstrated resilience in core business, and solidly promoted innovative transformation, laying a solid foundation for long-term development. Accelerating the advancement of innovative value, synergistic efforts of dual-core driving in core businesses In the past year, the deepening reform of medical insurance payment methods, normalization of centralized procurement, and price and compliance pressures have put pressure on the pharmaceutical industry as a whole. In this context, the company continued to advance in the four core areas of oncology, hematology, orthopedics, and metabolism, optimizing its business structure continuously. In the field of orthopedics, the company's performance demonstrated strong growth resilience. Leveraging its comprehensive advantages to consolidate its leading position in bone repair, the core product, Bone Optimal Guide, continuously promoted academic promotion and market penetration. In 2025, sales of Bone Optimal Guide continued to grow. To support future market demand, the company initiated an expansion project in April 2025, expected to increase production capacity by more than 5 times upon completion. Meanwhile, development of the orthopedic product series progressed smoothly, with JY23 (containing BMP-2 pluripotent bone) obtaining registration inspection reports, and JY23-2 (injectable bone repair product) completing animal preclinical trials, showing that the product can effectively promote bone formation, laying the groundwork for the continuous development of the orthopedic business. In the field of metabolism, the GLP-1 biosimilar drug project, Semaglutide biosimilar drug, is leading in progress, with approvals for glycemic control indications currently in the NDA review stage, while the weight reduction indication, Gikokin, has completed Phase III clinical trials and is under review for production acceptance. Based on this, the company continued to advance the layout of next-generation innovative drugs. JY54, as a new generation innovative weight loss drug independently developed by the company, has completed preclinical evaluations and pharmacology research. The IND application was accepted in February 2026, becoming another important layout in the metabolism field after Semaglutide. Innovative projects such as JY47 and JY57 are also advancing as planned. This indicates that JIUYUAN GENE is making a strategic leap from "imitation and innovation synthesis" to "innovation-centered," laying the groundwork for future growth reserves. In the fields of oncology and hematology, commercialization of new products steadily advanced. In January 2025, Jixinfen was approved for listing, with sales established in 20 provinces and cities and selected in two alliance procurements, contributing new growth points to the company. In June 2025, Gilexin was approved for listing and included in the eleventh batch of national joint procurement in November, effectively improving patient accessibility. Innovative leadership and global deployment drive the opening of long-term growth space Based on industry trends and company development stage, standing at a new starting point of the thirtieth anniversary, JIUYUAN GENE officially launched a strategic upgrade of company development, moving from "imitation and innovation synthesis, steady breakthrough" to "innovation leadership, global deployment," aiming to become a leading domestic innovative biopharmaceutical company in the fields of oncology and hematology, orthopedics, and metabolism, with international competitiveness. On the international front, the company continued to advance its global layout. During the reporting period, Bone Optimal Guide obtained official listing approval from the Indonesian Ministry of Health, entering the ASEAN market for the first time; its production site received GMP certification from the Brazilian National Health Surveillance Agency (ANVISA), laying the foundation for subsequent market entry into South America, and has initiated relevant registration declaration work. In terms of external cooperation, the company continued to deepen collaboration with several industry partners. Cooperation with Shanghai Fosun Pharmaceutical around Semaglutide, Bone Optimal Guide, and JY-23 products is being conducted in the Middle East, North Africa, and some ASEAN regions; cooperation with Kexing Biopharm is advancing the registration application for Semaglutide in the Latin American market; cooperation with Nanjing King-Friend Biochemical Pharmaceutical to promote relevant products for FDA declaration preparation in the United States. Diversified cooperation models are driving the company's global deployment towards systematic advancement. In the future, JIUYUAN GENE will use the industry accumulation of thirty years as the foundation, the strategic "innovation leadership, global deployment" as the sail, strengthen the core competitiveness of the company in the field of biopharmaceutical technology, and lay a solid foundation for long-term sustainable growth.