Movement Alert|INNOVENT BIO Rises 3.18% in Regular Trading, Strong Interim Results and New Drug Approval Boost Sentiment

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On September 30, INNOVENT BIO rose 3.18% in regular trading, trading at 98.85 HKD/share, with turnover of HKD 534 million.

The rally was driven by a combination of robust interim financial results and a fresh drug approval. The company reported H1 revenue of RMB 8.618 billion, up 44.8% year-over-year, with adjusted net profit reaching RMB 1.704 billion, a 40.5% increase. Product revenue surged 56.7% to RMB 8.201 billion, accounting for over 95% of total revenue. Operating cash flow soared over tenfold to RMB 3.588 billion, highlighting significantly improved earnings quality.

Meanwhile, China's NMPA approved Jaypirca (pirtobrutinib) as monotherapy for adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma, expanding the company's oncology portfolio. Multiple international investment banks, including Nomura, Daiwa, Jefferies, and BOCOM International, have recently raised their target prices while maintaining buy ratings. Management has guided for RMB 20 billion in product sales by 2027 and RMB 35-40 billion in total revenue by 2030, reinforcing long-term growth confidence.

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