CMS announced its 2025 financial performance, with revenue increasing by 9.95% year-over-year to 8.212 billion yuan. Profit attributable to owners was approximately 1.489 billion yuan, a decrease of 8.08% compared to the previous year. Basic earnings per share stood at 0.6154 yuan, and the company proposed a final dividend of 0.1366 yuan per share.
The group has built an innovation engine combining near-term certainty and long-term growth potential through a "co-development + independent R&D" model. Co-development ensures the richness and competitiveness of the short-to-medium-term pipeline, rapidly expanding the product matrix, while independent R&D focuses deeply on cutting-edge technologies, forming the foundation for long-term development and a source of innovation.
Since 2025, the group's tiered innovation portfolio has continued to expand and improve in quality: two new drugs were approved for market, namely Bailutu (Ruxolitinib Phosphate Cream) for vitiligo (approved in China in January 2026) and Dexidustat Tablets (approved in China in March 2026). Launched innovative drugs are accelerating their market penetration, gradually forming economies of scale in promotion.
Six innovative drugs are currently under review in China's New Drug Application stage, building momentum for future growth. These include Lobemiliu for Injection (Y-3 Injection) and newly added innovative products such as Silevimab Injection, Weikangtuta Monoclonal Antibody Injection, Benzgalantamine Hydrogen Gluconate Enteric-coated Tablets (ZUNVEYL), Kemeiqibai Monoclonal Antibody Injection (MG-K10 for Atopic Dermatitis), and Ruxolitinib Phosphate Cream for Atopic Dermatitis (NDA accepted in China in February 2026).
Clinical development of self-developed products with global rights is progressing in an orderly manner. These include a GnRH receptor antagonist (CMS-D002), a GLP-1R/GCGR dual agonist (CMS-D005), a cardiac myosin inhibitor (CMS-D003), a TYK2 inhibitor (CMS-D001), and a complement factor B inhibitor (CMS-D017, which entered Phase I clinical trials in China in March 2026), collectively building a reservoir of proprietary innovative assets.
The group has a deep focus on specialized disease treatment areas. Beyond its core markets, it is proactively expanding its out-of-hospital growth engine centered on "new retail, digital channels, and consumer healthcare." This strategy captures prescription outflow, diverse payment methods, and consumer health demands, strengthening channel and brand drivers to open new incremental space through the out-of-hospital ecosystem.
The group's skin health business, "Demei Pharmaceuticals," has achieved a leading position in China's skin health sector. It plans to be spun off for an independent listing on the Main Board of the Hong Kong Stock Exchange through an introduction and distribution-in-specie method, aiming to fully unlock its independent value and high growth potential.
Additionally, the group is actively deepening its "industrial internationalization" layout, establishing an efficient synergistic system covering the entire "R&D, production, and sales" ecosystem. On July 15, 2025, the group successfully completed a secondary listing on the Singapore Exchange by way of introduction. Using this as a leverage point, it is advancing deep expansion into emerging markets, building a new pattern of multi-regional, sustainable growth.
Looking back at 2025, CMS achieved a milestone strategic breakthrough. Moving forward, with the comprehensive advancement of the "New CMS" strategy, the group will continue to leverage innovation as its core driver. It will persistently drive the construction of a diversified commercial ecosystem with synergistic in-hospital and out-of-hospital operations, accelerate the realization of its "industrial internationalization" system advantages in emerging markets, and integrate AI and digital intelligence throughout its operations and management.
With remarkable developmental resilience and strategic foresight, the group is steadily growing into an innovation-driven international pharmaceutical enterprise rooted in China and competing in global emerging markets, creating long-term value for the global healthcare industry.
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