Hong Kong Stock Moves: Remegen Opens Nearly 4% Higher, Anticipates First-Half Net Profit Attributable to Parent of Approximately 4.7 Billion Yuan

Stock News08-06

Remegen (09995) opened nearly 4% higher, and as of the time of writing, it was up 3.94% at HK$85.80, with a turnover of HK$13.6422 million.

On the news front, Remegen released its performance forecast, expecting to achieve operating revenue of approximately 5.85 billion yuan in the first half of the year, an increase of about 433% year-on-year. It is expected to achieve a net profit attributable to the parent company of approximately 4.7 billion yuan, turning a loss into a profit compared to the same period last year. The net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be approximately 4.3 billion yuan.

The announcement shows that the performance growth is mainly due to the continuous increase in domestic sales revenue of the company's core products, Telitacicept and Disitamab vedotin. Additionally, the company signed an exclusive licensing agreement with AbbVie for RC148, granting AbbVie exclusive rights to develop, produce, and commercialize RC148 in regions outside Greater China, which significantly boosted the company's technology licensing revenue.

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