CSPC Pharmaceutical Group's Q1 revenue falls 21.9%

CSPC Pharmaceutical Group (HKEX: 1093) reported a 21.9% year-over-year decrease in revenue for the three months ended March 31, 2025, totaling RMB7,014.71 million. Reported profit attributable to shareholders decreased by 8.4% to RMB1,477.968 million. The decline is attributed to industry policies such as centralized volume-based procurement and price adjustments. Finished drug business revenue saw a 27.3% decrease, while bulk product sales increased by 14.6%. Basic earnings per share decreased to RMB12.91 cents. The company is actively repurchasing shares to enhance earnings per share. CSPC is also actively promoting internationalization and out-licensing initiatives. The Group received US$15 million upfront payments to out-license SYS6005 (ADC) in February 2025 and Irinotecan Liposome Injection in May 2025.