External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

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<ul><li>Targeting GAAP operating income breakeven in FY25. BeOne is on track to achieve GAAP operating income breakeven in FY25.</li><li>Excluding share-based compensation and D&amp;A impacts, non-GAAP operating profit in 3Q24 reached US$66mn.</li><li>This marks the second consecutive quarter of non-GAAP profitability. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Targeting GAAP operating income breakeven in FY25. BeOne is on track to achieve GAAP operating income breakeven in FY25.Excluding share-based compensation and D&amp;A impacts, non-GAAP operating profit in 3Q24 reached US$66mn.This marks the second consecutive quarter of non-GAAP profitability. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BeOne (ONC US) - Inflection Point Arrives: Operating Breakeven in 2025E

<ul><li>Strong product sales. In 3Q24, BeiGene recorded product sales of US$993mn (+8% QoQ, +67% YoY).</li><li>The 9M24 total product sales reached US$2.66bn, representing 69% of our previous FY24 estimate.</li><li>In 3Q24, sales of zanubrutinib (Zanu) increased 8% QoQ or 93% YoY to US$690mn. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong product sales. In 3Q24, BeiGene recorded product sales of US$993mn (+8% QoQ, +67% YoY).The 9M24 total product sales reached US$2.66bn, representing 69% of our previous FY24 estimate.In 3Q24, sales of zanubrutinib (Zanu) increased 8% QoQ or 93% YoY to US$690mn. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BeiGene (BGNE US) - Growing Non-GAAP Profit

<ul><li>Product sales continued beating expectations. In 2Q24, BeiGene recorded total product sales of US$921mn (+23% QoQ, +66% YoY).</li><li>The 1H24 total product sales reached US$1.67bn, representing 51.4% of our previous FY24 estimate, beating our expectations.</li><li>Zanubrutinib (zanu) maintained strong sales momentum, increasing 30% QoQ or 107% YoY to US$637mn. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Product sales continued beating expectations. In 2Q24, BeiGene recorded total product sales of US$921mn (+23% QoQ, +66% YoY).The 1H24 total product sales reached US$1.67bn, representing 51.4% of our previous FY24 estimate, beating our expectations.Zanubrutinib (zanu) maintained strong sales momentum, increasing 30% QoQ or 107% YoY to US$637mn. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BeiGene (BGNE US) - Sales Exceeding Expectations and Achieving Non-GAAP Profitability

<ul><li>Product sales continued beating expectation. In 1Q24, BeiGene recorded total product sales of US$747mn (+18% QoQ, +82% YoY), representing 25.7% of our previous FY24 estimate.</li><li>Zanubrutinib (zanu) maintained strong sales momentum, with sales increasing 18% QoQ or 131% YoY to US$489mn.</li><li>The strong performance of zanu was driven by market share gain in CLL in the US and the expansion of reimbursement coverage in the EU. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Product sales continued beating expectation. In 1Q24, BeiGene recorded total product sales of US$747mn (+18% QoQ, +82% YoY), representing 25.7% of our previous FY24 estimate.Zanubrutinib (zanu) maintained strong sales momentum, with sales increasing 18% QoQ or 131% YoY to US$489mn.The strong performance of zanu was driven by market share gain in CLL in the US and the expansion of reimbursement coverage in the EU. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BeiGene (BGNE US) - Consistently Exceeding Expectations

<ul><li>Strong sales momentum of zanubrutinib eased market concerns. In 4Q23, BeiGene recorded total product sales of US$631mn (+6% QoQ or +86% YoY).</li><li>Zanubrutinib (zanu) maintained strong sales momentum, with revenue increasing 15% QoQ or 135% YoY to US$413mn, mainly driven by market share gains in the US.</li><li>In 4Q23, zanu sales in the US increased 16% QoQ to US$313mn, contributing 76% of zanu’s global sales. I</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong sales momentum of zanubrutinib eased market concerns. In 4Q23, BeiGene recorded total product sales of US$631mn (+6% QoQ or +86% YoY).Zanubrutinib (zanu) maintained strong sales momentum, with revenue increasing 15% QoQ or 135% YoY to US$413mn, mainly driven by market share gains in the US.In 4Q23, zanu sales in the US increased 16% QoQ to US$313mn, contributing 76% of zanu’s global sales. IContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BeiGene (BGNE US) – Expect a Productive 2024 for Early Pipeline Assets

China

BeiGene, Ltd. operates as a commercial stage biopharmaceutical company. The Company focuses on discovery, development, and commercialization of molecularly targeted and immuno-oncology drugs for the treatment of cancer. BeiGene serves patients worldwide.

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BeiGene (6160 HK)

BeOne (ONC US) - Inflection Point Arrives: Operating Breakeven in 2025E

Targeting GAAP operating income breakeven in FY25. BeOne is on track to achieve GAAP operating income breakeven in FY25.

CMB International

BeiGene (BGNE US) - Growing Non-GAAP Profit

Strong product sales. In 3Q24, BeiGene recorded product sales of US$993mn (+8% QoQ, +67% YoY). The 9M24 total product sales reached US$2.66bn,...

CMB International

BeiGene (BGNE US) - Sales Exceeding Expectations and Achieving Non-GAAP Profitability

Product sales continued beating expectations. In 2Q24, BeiGene recorded total product sales of US$921mn (+23% QoQ, +66% YoY).

CMB International

BeiGene (BGNE US) - Consistently Exceeding Expectations

Product sales continued beating expectation. In 1Q24, BeiGene recorded total product sales of US$747mn (+18% QoQ, +82% YoY), representing 25.7% of...

CMB International

BeiGene (BGNE US) – Expect a Productive 2024 for Early Pipeline Assets

Strong sales momentum of zanubrutinib eased market concerns. In 4Q23, BeiGene recorded total product sales of US$631mn (+6% QoQ or +86% YoY).

CMB International

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