Innovent Biologics, Inc., a biopharmaceutical company, engages in the research and development of antibody and protein medicine products in the People's Republic of China, the United States, Europe.MoreShow less
Profile & Fundamentals
Innovent Biologics: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Innovent Biologics Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Innovent Biologics, Inc., a biopharmaceutical company, engages in the research and development of antibody and protein medicine products in the People's Republic of China, the United States, Europe, and internationally. The company discovers, develops, manufactures, and commercializes monoclonal antibodies and other drugs for the treatment of oncology, ophthalmology, autoimmune, cardiovascular, and metabolic diseases. Its commercial stage product portfolio includes TYVYT (sintilimab injection), BYVASDA (bevacizumab injection), SULINNO (adalimumab injection), HALPRYZA (rituximab injection), PEMAZYRE (pemigatinib), olverembatinib, Cyramza (ramucirumab), Retsevmo (selpercatinib), FUCASO (Equecabtagene Autoleucel), SINTBILO (tafolecimab injection), DUPERT (fulzerasib), DOVBLERON (taletrectinib adipate), Jaypirca (pirtobrutinib), limertinib, SYCUME (teprotumumab N01 injection), mazdutide, PECONDLE (picankibart injection), and TABOSUN(Ipilimumab N01 injection). In addition, it sells and distributes pharmaceutical products; and offers consultation and research and development services. The company was incorporated in 2011 and is headquartered in Suzhou, the People's Republic of China.
Company profile record
Innovent Biologics Inc
Common Stock · Health Care · Biotechnology
Company
- Company / asset
- Innovent Biologics Inc
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Biotechnology
- HQ
- 🇨🇳 China
- Head office
- 168 Dongping Street, Suzhou, China, 215123
Leadership & scale
- Chief executive
- Dr. De-Chao Yu Ph.D.
- CEO year born
- 1964
- Full-time employees
- 8.8K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- HKD 178.9B
- P/E
- 68.3x
- Revenue (Q2 26)
- CNY 8.5B
- Profit (Q2 26)
- CNY 1.2B
- Dividend Yield
- --
- Revenue (FY 25)
- CNY 13.0B
- Shares in public float
- 1.6B
- Insider ownership
- 6.24%
Reporting & identifiers
- Symbol
- 1801.HKEX
- Listing
- 🇭🇰 Hong Kong | Dividend Tax: 0%
- Ticker Currency
- HKD
- Income Statement Currency
- CNY
- Balance Sheet Currency
- CNY
- Cash Flow Currency
- CNY
- EPS Currency
- CNY
- Contract Type
- SPOT
- ISIN
- KYG4818G1010
- Asset ID
- equity_e575933a-1490-5bf1-9c5e-635db20b4cac
Ownership
Shares Outstanding
Latest: 1.8B | Max: 1.8B | Min: 101.5M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
89.01%
1.6B latest reported shares
Insider Ownership
6.24%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 101,515,900 |
| 2018-01-01 | 523,544,700 |
| 2019-01-01 | 1,262,562,200 |
| 2020-01-01 | 1,402,776,000 |
| 2021-01-01 | 1,460,986,200 |
| 2022-01-01 | 1,515,216,700 |
| 2023-01-01 | 1,583,953,400 |
| 2024-01-01 | 1,632,087,200 |
| 2025-01-01 | 1,787,569,200 |
| 2026-01-01 | 1,800,946,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Innovent has crossed an important financial threshold by turning years of clinical development losses into steady commercial profitability. Revenue for the first half of 2026 reached CNY 8.50 billion, supported by robust oncology prescriptions and the initial commercial rollout of mazdutide. Net profit expanded to CNY 1.24 billion, demonstrating that expanding product sales are successfully covering routine business expenses. However, reported headlines require careful interpretation. A significant portion of 2025's massive free cash flow stemmed from large upfront collaboration payments rather than pure product sales. The true test of ongoing financial health lies in recurring product revenues, which must continue compounding to support advanced clinical trials as partnership windfalls normalize.
Innovent has crossed an important financial threshold by turning years of clinical development losses into steady commercial profitability. Revenue for the first half of 2026 reached CNY 8.50 billion, supported by robust oncology prescriptions and the initial commercial rollout of mazdutide. Net profit expanded to CNY 1.24 billion, demonstrating that expanding product sales are successfully covering routine business expenses. However, reported headlines require careful interpretation. A significant portion of 2025's massive free cash flow stemmed from large upfront collaboration payments rather than pure product sales. The true test of ongoing financial health lies in recurring product revenues, which must continue compounding to support advanced clinical trials as partnership windfalls normalize.
Revenue, Net Income, and Free Cash Flow
Latest: CNY 13.0B | Max: CNY 13.0B | Min: CNY -5.8B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: >100x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Gross profit margins have stabilized near 76.7%, reflecting high-margin proprietary biologics and efficient large-scale factory production. Operating margins have turned decisively positive, recovering from deep historical deficits to exceed 12% in the first half of 2026. This improvement demonstrates classic operating leverage, where fixed sales and administrative costs dilute as overall sales volumes expand. Maintaining these margins will involve balancing opposing forces. Routine government reimbursement price cuts and generic competition will exert downward pressure on older oncology lines. However, rising sales of premium metabolic therapies and high-margin international licensing royalties are expected to defend consolidated net margins near double-digit levels.
Gross profit margins have stabilized near 76.7%, reflecting high-margin proprietary biologics and efficient large-scale factory production. Operating margins have turned decisively positive, recovering from deep historical deficits to exceed 12% in the first half of 2026. This improvement demonstrates classic operating leverage, where fixed sales and administrative costs dilute as overall sales volumes expand. Maintaining these margins will involve balancing opposing forces. Routine government reimbursement price cuts and generic competition will exert downward pressure on older oncology lines. However, rising sales of premium metabolic therapies and high-margin international licensing royalties are expected to defend consolidated net margins near double-digit levels.
Profitability Margins
Latest: 76.7% | Max: >100.0% | Min: <-100.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
76.7%
Gross profit / revenue
Operating Margin
5.6%
Operating income / revenue
Net Margin
6.2%
Net income / revenue
FCF Margin
71.4%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 4,145,439.23 | -65,058,580.65 | -54,378,967.74 |
| 2017-12-31 | 2,373,623.56 | -71,999,743.92 | -74,678,745.2 |
| 2018-12-31 | 1,210,344.83 | -737,099,872.29 | -169,700,894 |
| 2019-12-31 | 134,470,474.97 | -220,789,473.68 | -260,634,916.56 |
| 2020-12-31 | 495,976,645.16 | -128,828,516.13 | -139,285,935.48 |
| 2021-12-31 | 671,341,037.74 | -493,404,559.75 | -608,861,477.99 |
| 2022-12-31 | 660,344,927.54 | -315,836,231.88 | -478,338,260.87 |
| 2023-12-31 | 794,631,242 | -131,614,980.79 | -174,035,211.27 |
| 2024-12-31 | 1,212,598,198.2 | -12,179,021.88 | -53,846,589.45 |
| 2025-12-31 | 1,865,740,057.22 | 116,389,842.63 | 1,333,009,728.18 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 172.38 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 100 | -1,436.6 | -1,569.4 | -1,311.78 |
| 2017-12-31 | 485.54 | -4,046.48 | -3,033.33 | -3,146.19 |
| 2018-12-31 | 113.84 | -18,841.75 | -60,899.99 | -14,020.87 |
| 2019-12-31 | 88.08 | -158.76 | -164.19 | -193.82 |
| 2020-12-31 | 89.91 | -14.5 | -25.97 | -28.08 |
| 2021-12-31 | 86.58 | -69.99 | -73.5 | -90.69 |
| 2022-12-31 | 79.57 | -68.54 | -47.83 | -72.44 |
| 2023-12-31 | 70.89 | -27.06 | -16.56 | -21.9 |
| 2024-12-31 | 83.97 | -8.02 | -1 | -4.44 |
| 2025-12-31 | 76.66 | 5.63 | 6.24 | 71.45 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-15.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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