Baili Tianheng (688506.SH) releases a profit forecast, expecting a net profit of 3.6 billion yuan for the fiscal year 2024, turning losses into profits.

Baili Tianheng (688506.SH) announced that the company is expected to achieve a net profit attributable to the owners of the parent company in 2024 compared to the same period last year, turning losses into profits. The net profit attributable to the owners of the parent company is expected to be around 3.6 billion yuan, an increase of about 4.3804989 billion yuan compared to the same period last year. The company's operating income in 2024 is expected to increase significantly compared to the previous year, leading to a turnaround from losses to profits in terms of net profit attributable to the owners of the parent company and net profit attributable to the owners of the parent company after deducting non-recurring gains and losses. This is mainly due to the company receiving an irrevocable and non-deductible first payment of 800 million US dollars from its overseas partner, Bristol Myers Squibb (BMS), based on the cooperation agreement for the core product BL-B01D1 (EGFRHER3 bispecific ADC) during the reporting period.