EVEREST MED (01952) achieved a revenue growth of 157% year-on-year in the first half of the year, breaking into profit and accelerating its transition into the 3.0 development stage.

On August 19, Hong Kong-listed innovative pharmaceutical company EVEREST MED (01952) announced its mid-term performance for 2026. During the reporting period, the company achieved total revenue of RMB 1.148 billion, a year-on-year increase of 157%; the gross margin, excluding non-cash items, reached 73.7%. Under non-International Financial Reporting Standards, the net profit was RMB 97.23 million, while the net loss under International Financial Reporting Standards narrowed by 98% compared to the previous year. The operating expenses as a percentage of revenue decreased by 64.0 percentage points year-on-year, reflecting a continuous improvement in the company's operational and execution efficiency. As of June 30, 2026, the company had ample cash reserves amounting to RMB 1.859 billion. After the reporting period, the company received an upfront payment of RMB 770 million under the global licensing and cooperation agreement for Hebrutinib (EVER001) in July 2026, further bolstering its cash balance. The continuous strengthening of the companys overall financial strength will provide strong support for subsequent R&D investments and business expansion. Wu Yifang, Chairman of the Board of EVEREST MED, stated that in the first half of 2026, the company officially entered the 3.0 development stage, accelerating its transition into a comprehensive biopharmaceutical company driven by innovation. Guided by the 2030 strategy, the company continues to enhance its capability to integrate innovative resources, commercial operation capabilities, and global development abilities. Additionally, by strengthening its "two-way" business development capabilities, the company promotes the global value release of innovative assets and the collaborative development of high-quality innovative assets, accelerating the conversion of innovative value. During the reporting period, the companys commercialization efforts consistently released growth potential. The sales revenue from its core product, Nairfukan, reached RMB 889 million, with a year-on-year growth of 94%, and the coverage in hospitals and the patient base continued to expand. The company is deepening its engagement with key hospital networks, expanding market coverage, enhancing education for doctors and patients, and promoting the implementation of "etiology-based treatment, early treatment, and long-term treatment" strategies through the accumulation of real-world evidence. After receiving approval, Weishiping quickly entered the commercialization phase, and local production construction is being continuously advanced; sales of Yijia at the hospital level maintain stable growth with localized production being smoothly carried out. Meanwhile, the company continues to advance its collaboration with Haisen Bio on commercialization services, contributing to sales revenue while further enriching its product portfolio, expanding product lifecycle, and enhancing the value of its commercialization platform. Leveraging the continuously upgraded and dimensional-enhanced "A2MS" commercialization operation system and lean management system, the company is steadily improving market coverage, operational efficiency, and product lifecycle management capabilities, driving collaborative growth of innovative and mature products. Luo Yongqing, CEO of EVEREST MED, stated that in the first half of 2026, the company continued to advance business execution around the 2030 strategy, with a synergistic development of commercialization, business development, independent R&D, and globalization. As the commercialization system matures, the portfolio of innovative assets continues to expand, and global operational capabilities gradually improve, the company is accelerating the conversion of innovative achievements into clinical and commercial value, laying a foundation for the next stage of growth. In terms of innovative asset layout, the company continues to promote a "two-way" business development strategy. On the one hand, the company is unlocking the value of its independently developed assets through global collaborations, having reached an exclusive licensing and cooperation agreement with Travere Therapeutics for Hebrutinib (EVER001), and jointly advancing its global development and commercialization with partners to achieve the global value release of innovative assets. On the other hand, the company continuously introduces mid-to-late stage innovative assets with differentiated advantages and commercial potential in core therapeutic areas such as nephrology, autoimmunity, cardiovascular, and ophthalmology, further improving its future product portfolio. Among them, MT1013, DMX-200, and Beijiexin strengthen the nephrology and autoimmunity layout; Xingbituo and Weikagelei further enhance the cardiovascular product portfolio; LNZ100 and VIS-101 jointly advance the layout in the ophthalmology field. As multiple assets enter critical registration and commercialization stages, the companys future growth lineup is becoming increasingly clear. Xingbituo is expected to receive approval for market launch in the third quarter of 2026, LeRuibo and LNZ100 are anticipated to be approved in 2027, and MT1013 is expected to be approved in 2028. In terms of R&D, the companys independent innovation capabilities are continuously advancing. The 52-week Ib/IIa clinical study of Hebrutinib achieved positive results and initiated a phase II basket trial in China to further explore its therapeutic potential in autoimmune kidney diseases, including focal segmental glomerulosclerosis (FSGS), minimal change disease (MCD), and IgA nephropathy (IgAN). At the same time, the company's AI+mRNA platform is making continuous progress; EVM16 completed its first human clinical data readout and plans to initiate an IIT Ib phase study in the fourth quarter of 2026; the autologous CAR-T therapy EVM18 has launched IIT studies targeting various autoimmune diseases and is steadily advancing global IND applications. On the globalization front, the company completed its acquisition of Haisen Biopharmaceutical (Singapore), establishing a pan-Asia-Pacific commercialization platform to accelerate the replication of commercialization capabilities validated in the Chinese market to the Asian market, further enhancing global commercialization capabilities. Wu Yifang stated that the company will continue to build an innovative product portfolio with global competitiveness, continuously enhance core capabilities in commercialization, R&D registration, supply chain, and manufacturing, deepen its globalization layout, and adhere to long-term value creation. EVEREST MED will continue to promote the 2030 strategy, adhere to innovation-driven development, continuously create long-term value, and enhance long-term competitiveness, striving to become a "valuable, promising, and trustworthy" company. Additionally, the company continues to improve its governance system and organizational capacity building, strengthen compliance operations, and risk management. Kangqiao Capital and members of the board have consistently increased their shareholding in the company, reflecting confidence in the companys strategic direction and long-term development prospects.