We have received marketing authorization for sac-TMT, tagitanlimab and Cetuximab N01 and have commenced their commercialization. Based on the expected approval timeline of each late-stage project in our pipeline, subject to regulatory communications and marketing approval, we expect to launch trastuzumab botidotin in the China market and file an NDA for A400 in the second half of 2025.
The total commercial sales reached RMB309.8 million for the first half of 2025. Among them, the sales of sac-TMT accounted for 97.6%. At the same time, all accounts receivables from sales of pharmaceutical products were collected within the payment period, ensuring efficient and stable cash flow.
Currently, our businesses have covered 30 provinces, over 300 prefectures and over 2,000 hospitals, where over 1,000 hospitals generated sales, and reached tens of thousands of healthcare professionals through various types of marketing campaigns to convey product and medical professional information. In addition, we have obtained authoritative endorsement for our products from experts in clinical guidelines, such as “CSCO Diagnosis and Treatment Guidelines for Breast Cancer (2025 edition) (CSCO乳腺癌診療指南(2025年版))”, “CSCO Diagnosis and Treatment Guidelines for Non-Small Cell Lung Cancer (2025 edition) (CSCO非小細胞肺癌診療指南(2025年版))”, “CBCS&CSOBO Guidelines for Breast Cancer Diagnosis and Treatment (2025 Concise Edition) (CBCS&CSOBO乳腺癌診治指南與規範(2025年精要本))”, “Guidelines for Diagnosis and Treatment of Advanced Breast Cancer in China (2024 edition) (中國晚期乳腺癌規範診療指南(2024版))” and “Chinese Medical Association Clinical Practice Guidelines for Lung Cancer (中華醫學會肺癌臨床診療指南(2025版))”, providing further support for the commercialization process.
We have established a fully-fledged marketing team of over 350 people, dedicated to preparing and implementing the marketing and commercialization of our strategic products. Within the marketing team, we have established a departmental structure that includes marketing, sales, medical affairs, strategic planning and commercial excellence as well as marketing compliance functions. The commercialization team will continue to expand to capture more market opportunities in the future as more products and indications are launched and are included in the medical insurance. Currently, among the commercialized products and therapeutic areas, the business team is divided into breast cancer, lung cancer, and other tumors based on indications, and the synergy of the indications of commercialized products are conducive to the implementation of marketing and promotional activities.
In the first half of 2025, our products were promoted through our self-built marketing teams and sold primarily through DTP pharmacies. We have established stable relationships with multiple leading commercial and distribution groups, including 60+ Tier 1 distributors and 400+ DTP pharmacies. A hierarchical management system for pharmacy retail has been adopted and trainings have been provided to around 4,500 pharmacists in the first half of 2025. By organizing nationwide pharmacy trainings, the company has significantly enhanced the professionalism of terminal services and improved the ability to provide patients with medication guidance.
The Company has actively optimized its network strategy. In the first half of 2025, sac-TMT, tagitanlimab and Cetuximab N01 have been included in 29, 25 and 15 provincial networks, respectively, ensuring rapid market access through provincial procurement channels. We have been actively advancing the preparation work for the National Reimbursement Drug List (國家醫保藥品目錄) access of the relevant strategic products, including preparing for the value dossier and application materials of the relevant products. All of our commercialized products, including sac-TMT, tagitanlimab and Cetuximab N01, have passed the preliminary formal examination of National Reimbursement Drug List.
Meanwhile, to further reduce the burden of patients and implement the concept of inclusive healthcare, we have been proactively facilitating the enrollment of sac-TMT in provincial and prefecture city level Inclusive Insurance (惠民保). As at the end of the Reporting Period, sac-TMT has been enrolled in more than 7 provinces and 20 cities.
Globally, we will continue to pursue a flexible strategy to capture the commercial value in major international markets, through forging synergistic license and collaboration opportunities worldwide.