LUZHU BIOTECH-B(02480) announces its performance in 2025 with a net loss of approximately 150 million yuan, a year-on-year decrease of 10.6%.

LUZHU BIOTECH-B (02480) announced its performance for 2025, with other income of approximately 110.31 million yuan, a decrease of 48.4% year-on-year; research and development expenses of 96.475 million yuan, a decrease of 28.6% year-on-year; and a net loss of approximately 100 million yuan, a decrease of 10.6% year-on-year. The announcement stated that the reduction in research and development expenses was mainly due to (a) a decrease in clinical expenses for LZ901, consistent with the progress of Phase III clinical trials of LZ901 in China; and (b) the full recognition in 2024 of existing share-based payment costs related to employee costs and no recognition of related costs in 2025. As of the end of the fiscal year ending December 31, 2025, the company has achieved several important corporate milestones. In January 2025, the Group submitted a Biologics License Application (BLA) for its core product LZ901 to the National Medical Products Administration (NMPA), which was subsequently accepted in February 2025. In the third quarter of 2025, the NMPA completed on-site inspections for clinical trials and production facilities. As of the date of this announcement, the NMPA is still reviewing the BLA for LZ901. LZ901 can only be commercialized after obtaining BLA approval and issuance of the corresponding permits.