Innovent Biologics reported first-half 2026 revenue of RMB 8.618 billion, up 44.8% year over year, as product revenue increased 56.7% to RMB 8.202 billion. IFRS net profit rose 50.2% to RMB 1.253 billion, with basic earnings per share of RMB 0.73, while non-IFRS net profit increased 40.5% to RMB 1.703 billion and non-IFRS EBITDA climbed 47.1% to RMB 2.08 billion. Gross profit rose 43% to RMB 7.32 billion, although gross margin eased to 85% from 86%. Innovent maintained its policy of paying no interim dividend. Its 20-product commercial portfolio spans oncology, autoimmune, metabolic and ophthalmic diseases, with 13 products now included in China's National Reimbursement Drug List. The company said its dual-engine strategy—integrated pipeline growth and the scaling of newly listed oncology products—supported the results. Innovent's existing strategic plan targets revenue of RMB 35–40 billion by 2030, at least five molecules entering global MRCT Phase 3 development, launches in the United States and Europe, and global research, manufacturing and commercial capabilities. Investors are expected to focus on second-half product momentum and the conversion of international collaboration opportunities into further deals.