Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/beigene-ltd" target="_blank" data-smartkarma-citation="entities:27352:1" rel="noopener">BeiGene (6160 HK)</a> reported 2025 revenues of $5.3B, up 40% YoY driven primarily by growth in Brukinsa (zanubrutinib) sales in the U.S. and Europe.</li>
<li>In 2025, sale of Brukinsa was $3.9B, up 49% YoY. For five consequtive quarters now, Brukinsa outpaced its closest competitor Calquence which reported global revenue of $3.5B in 2025.</li>
<li>The company’s second CLL drug candidate, Sonrotoclax has received first global approval in China for relapsed/refractory (R/R) MCL, CLL &amp; SLL.</li>
</ul>



BeiGene (6160 HK) reported 2025 revenues of $5.3B, up 40% YoY driven primarily by growth in Brukinsa (zanubrutinib) sales in the U.S. and Europe.
In 2025, sale of Brukinsa was $3.9B, up 49% YoY. For five consequtive quarters now, Brukinsa outpaced its closest competitor Calquence which reported global revenue of $3.5B in 2025.
The company’s second CLL drug candidate, Sonrotoclax has received first global approval in China for relapsed/refractory (R/R) MCL, CLL &amp; SLL.


BeiGene (6160 HK): Brukinsa Growth Momentum Lifts 2025, 2026 Guidance Announced

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Feb 20th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba, CCB, CNOOC, Time Interconnect Technology.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 20th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba, CCB, CNOOC, Time Interconnect Technology.


HK Short Interest Weekly: Alibaba, CCB, CNOOC, Time Interconnect Technology

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of February 27th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, Alibaba, Xiaomi, Meituan, Hua Hong Semiconductor, Zijin Mining.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of February 27th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Alibaba, Xiaomi, Meituan, Hua Hong Semiconductor, Zijin Mining.


HK Connect Flows Weekly (Feb 27th): Tencent, Alibaba, Xiaomi, Meituan, Hua Hong Semiconductor

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC, INNOVENT BIOLOGICS.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC, INNOVENT BIOLOGICS.


HSI Index Earning Revision (Feb): PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC

<ul>
<li>We analysed the earning revision of component stocks of HSCEI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG, PING AN INSURANCE.</li>
</ul>


We analysed the earning revision of component stocks of HSCEI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG, PING AN INSURANCE.


HSCEI Index Earning Revision (Feb): MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG

China

CSPC Pharmaceutical Group Limited is a prominent Chinese pharmaceutical company engaged in the research, development, manufacturing, and sale of pharmaceutical products, including innovative drugs and bulk drugs. Its key products include innovative drugs for nervous system diseases, oncology, anti-infectives, and cardiovascular diseases, as well as bulk products like vitamin C, antibiotics, and caffeine. The company was formally established in 1997 and is headquartered in Shijiazhuang, Hebei Province, China.

Price Gauge
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CSPC Pharmaceutical (1093 HK)

BeiGene (6160 HK): Brukinsa Growth Momentum Lifts 2025, 2026 Guidance Announced

BeiGene reported strong 2025 revenues of $5.3B, driven by growth in Brukinsa. Sonrotoclax received first global approval in China. 2026 Revenue...

Tina Banerjee

HK Short Interest Weekly: Alibaba, CCB, CNOOC, Time Interconnect Technology

We analyzed the latest HK SFC report for aggregate short position as of Feb 20th and highlight short interest changes in Alibaba, CCB, CNOOC, Time...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Feb 27th): Tencent, Alibaba, Xiaomi, Meituan, Hua Hong Semiconductor

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Alibaba, Xiaomi, Meituan, Hua Hong...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Feb): PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC

We analyzed HSI's consensus for Feb 2026 and highlighted changes of EPS in PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC,...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Feb): MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG

We analyzed HSCEI's consensus for Feb 2026 and highlighted changes of EPS in MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG, PING AN INSURANCE.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

BeiGene (6160 HK): Brukinsa Growth Momentum Lifts 2025, 2026 Guidance Announced

​BeiGene reported strong 2025 revenues of $5.3B, driven by growth in Brukinsa. Sonrotoclax received first global approval in China. 2026 Revenue...

Tina Banerjee

HK Short Interest Weekly: Alibaba, CCB, CNOOC, Time Interconnect Technology

We analyzed the latest HK SFC report for aggregate short position as of Feb 20th and highlight short interest changes in Alibaba, CCB, CNOOC, Time...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Feb 27th): Tencent, Alibaba, Xiaomi, Meituan, Hua Hong Semiconductor

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Alibaba, Xiaomi, Meituan, Hua Hong...

Ke Yan, CFA, FRM

HSI Index Earning Revision (Feb): PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC

We analyzed HSI's consensus for Feb 2026 and highlighted changes of EPS in PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC,...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Feb): MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG

We analyzed HSCEI's consensus for Feb 2026 and highlighted changes of EPS in MEITUAN, TENCENT, China Life, ABC, CSPC Pharma, XPENG, PING AN INSURANCE.

Ke Yan, CFA, FRM

BeiGene reported strong 2025 revenues of $5.3B, driven by growth in Brukinsa. Sonrotoclax received first global approval in China. 2026 Revenue...