CSPC Innovative Pharmaceuticals, a subsidiary of CSPC Pharmaceutical Group, has released its preliminary financial forecast for 2025, projecting a net loss attributable to shareholders of between RMB 170 million and RMB 255 million (USD 24 to 27 million). The anticipated decline is attributed to a significant increase in R&D investment, totalling approximately RMB 1 billion (USD 144 million) for the year, which has substantially impacted profitability.

The increased R&D expense follows several pipeline advancements, including the first-time clinical trial approvals for four antibody drugs, six ADC candidates and one mRNA vaccine in 2025. Additionally, the acquisition of a 29% minority stake in its subsidiary Jushi Biopharma, raising its holding to 80%, has amplified the subsidiary's operating losses within the consolidated financial statements. The company's functional ingredients business also experienced a slight reduction in profit due to lower gross margins for its caffeine product line.

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