Shares of Innovent Biologics surged nearly 13% to an all-time high of HK$112.70 on Wednesday, leading gains in the Hang Seng index, which rose 0.8%.
The biotech company reported first-half 2026 revenue of RMB 8.6 billion, a 45% increase from the same period in 2025. Net income under IFRS standards climbed 50% year-over-year to RMB 1.3 billion. Product revenue grew 57% to RMB 8.2 billion, driven by strong commercial performance in oncology and chronic disease treatments.
Innovent maintained a cash position of RMB 30.2 billion at the end of the period. The company also outlined a strategic shift from a China-focused model to a global biopharmaceutical platform, with a 2030 revenue target of RMB 35 billion to RMB 40 billion.
The Hang Seng index’s advance on Wednesday was largely attributed to Innovent’s gains, as the stock outperformed peers in the healthcare sector.
