ABBISKO-B (02256) released its annual performance, with a net profit attributable to shareholders of 50.91 million yuan, reversing a loss to a profit on a year-on-year basis.

ABBISKO-B (02256) released its annual performance for the year ending December 31, 2024. The group achieved an income of 504 million yuan (all in the same unit), an increase of 2544% compared to the previous year; the profit attributable to the owners of the parent company was 50.919 million yuan, compared to a loss of about 400 million yuan in the same period last year; earnings per share were 0.04 yuan. We achieved profitability for the first time. For the year ending December 31, 2024, the group recorded an income of 504 million yuan (with 70 million US dollars being revenue received from Merck Healthcare KGaA (Merck) and 1 million US dollars being milestone payments received from Shanghai Allist Pharmaceuticals Co., Ltd.), with a profit of 28.3 million yuan. We repurchased and cancelled shares to enhance shareholder value. On March 13, 2024, the board approved the repurchase of shares at a cost not exceeding 100 million Hong Kong dollars to enhance shareholder value. For the year ending December 31, 2024, the company repurchased and cancelled a total of 22.594 million shares (equivalent to 3.22% of the total shares issued as of January 1, 2024), with a total amount involved of 68.7 million Hong Kong dollars. We have sufficient cash reserves on hand. As of December 31, 2024, our cash and bank balances (including fixed deposits of more than three months, pledged fixed deposits, and cash and cash equivalents) amounted to 1.959 billion yuan, slightly lower by 12.3 million yuan compared to December 31, 2023. The slight decrease in cash was due to increased spending on research and development activities and share repurchases, offsetting the increase in income.