Innovent Biologics advanced to a record high on Wednesday after reporting a 13% surge in its share price to HK$112.7, making it the best performer on the Hang Seng index, which rose 0.8%.
The biotech's first-half 2026 interim results showed total revenue increased 45% year-over-year to RMB 8.6 billion, while IFRS net profit climbed 50% to RMB 1.3 billion. Product revenue, excluding royalties and other income, rose 57% to RMB 8.2 billion. The company maintained a cash position of RMB 30.2 billion at the end of the period.
The strong financial performance reflected robust commercial momentum across Innovent's oncology and chronic disease portfolios. The company also outlined a 2030 strategic vision targeting revenues of RMB 35-40 billion, signaling a shift from a China-focused biotech toward a global biopharma platform.
