TOT BIOPHARM-B (01875) achieved revenue exceeding 1 billion RMB in 2024, and for the first time accomplished annual profit with a net profit of 347.57 million RMB.

TOT BIOPHARM-B (01875) announced its performance for 2024, with performance exceeding expectations, total annual revenue surpassing 1 billion Chinese yuan, reaching approximately 1.098 billion Chinese yuan, a year-on-year increase of 41%. Product sales revenue reached 877.4 million Chinese yuan, a year-on-year increase of 39%, mainly driven by the steady growth in sales of the core product Pavixin (bevacizumab injection). CDMO/CMO business revenue reached 207 million Chinese yuan, a year-on-year increase of 47%. The company's hematopoietic capacity continued to strengthen, with operating cash flow remaining positive for three consecutive years, reaching 116.4 million Chinese yuan in 2024. The significant results of the CDMO strategic transformation are evident, with sales of self-developed products steadily increasing. The company achieved profitability for the first time in 2024, with a net profit of 34.757 million Chinese yuan for the full year. The CDMO business demonstrates strong development potential, with a clear funnel effect; benefiting from cutting-edge technological platforms, strengthening front-end traffic, and a significant increase in early-stage projects. A total of 58 new projects were added throughout the year, including 48 ADC projects, accumulating to a total of 153 projects. The company successfully obtained 2 pre-BLA (pre-market approval key clinical and new drug application stage projects) projects in the year, with a total of 8 projects in hand, showcasing the company's outstanding capability in later-stage commercialization of CDMO projects and strengthening the company's future revenue potential. The contract value of signed but unfinished orders in hand reached 191 million Chinese yuan, a year-on-year increase of 39%. Furthermore, the company's high-standard quality management system has been widely recognized by the industry both domestically and internationally, having successfully passed multiple production site inspections by regulatory authorities and GMP compliance inspections in multiple countries, along with several GMP audits conducted by customers and third-party consulting firms. In 2024 alone, the company underwent a total of 38 GMP audits, including 7 official GMP audits (3 international, 4 domestic), and 2 EU QP audits (with one zero defect pass), obtaining GMP certificates from countries such as Colombia, Egypt, and Indonesia. Additionally, the company also acquired the PMDA Foreign Manufacturer Accreditation Certificate for Japan, signifying that TOT BIOPHARM-B's production line and quality system meet Japanese pharmaceutical quality and safety standards. The company has also collaborated with overseas MNC pharmaceutical companies' inspections and agency inspections, successfully meeting their requirements and receiving high recognition.