BioDlink sees profit fall 87% amid market shifts, CDMO project delays

For the six months ended June 30, 2025, BioDlink International Company Limited recorded operating revenue of RMB489,140 thousand, a 6% decrease from RMB520,603 thousand in the same period of 2024. Net profit for the period was RMB4,062 thousand, an 87% decline from RMB31,559 thousand year-over-year. This decrease was primarily attributed to intensified market competition impacting product sales, which fell 1% to RMB397,909 thousand, and key CDMO projects not reaching delivery milestones, causing CDMO revenue to drop 32% to RMB77,301 thousand.

Despite these financial shifts, the company’s CDMO business secured 16 new projects, 14 of which were ADC projects, accumulating a total of 169 projects. The gross order backlog reached RMB200 million. Research and development expenses decreased by RMB10,431 thousand to RMB35,628 thousand due to pipeline streamlining and resource reallocation to CDMO. Selling expenses saw a slight increase to RMB277,445 thousand, reflecting increased investment in overseas marketing.

BioDlink also advanced its self-developed products, with Bevacizumab injection (Pusintin) gaining marketing approvals in Nigeria and Pakistan, marking a significant international expansion. TAB014, an ophthalmic drug product, had its new drug application submitted for market approval in China. As of June 30, 2025, the Group’s net assets increased to RMB731,682 thousand, and cash and cash equivalents rose to RMB383,982 thousand, with positive net cash inflows from operating activities.