BEONE MEDICINES - Overseas Regulatory Announcement - Other
BeOne Medicines Ltd.
百濟神州有限公司
（根據瑞士法律註冊成立的公司）
（股份代號：06160）
海外監管公告
本公告乃百濟神州有限公司（BeOne Medicines Ltd.,「 本公司」）根據香港聯合交易所有限公司證券上市規則第13.10B條作出。
茲載列本公司於上海證券交易所網站刊發的《百濟神州有限公司2026年度「提質增效重回報」行動方案》，僅供參閱。
承董事會命
百濟神州有限公司
主席
歐雷強先生
香港，2026年8月26日
於本公告日期，本公司董事會包括主席兼執行董事歐雷強先生、非執行董事Felix J. Baker博士及王曉東博士，以及獨立非執行董事Olivier Brandicourt博士、 Margaret Han Dugan博士、Anthony C. Hooper先生、Elizabeth F. Mooney女士、 Alessandro Riva博士、Charles L. Sawyers博士及Shalini Sharp女士。
百济神州有限公司
2026 年度"提质增效重回报"行动方案
百济神州有限公司（以下简称"公司"）为积极贯彻落实上海证券交易所（以下简称"上交所"）《关于开展沪市公司"提质增效重回报"2.0 专项行动的倡议》（以下简称"《"提质增效重回报"行动倡议》"），巩固深化"提质增效重回报"专项行动成果，现聚焦经营发展、公司治理、信息披露、投资者回报、社会责任五大核心领域，制定并全面推进 2026 年度"提质增效重回报"专项行动新版行动方案（以下简称"本行动方案"），以进一步提高公司质量，保障投资者权益，促进公司健康可持续发展。
一、公司经营情况概述
公司是一家全球领先的肿瘤创新治疗公司，为全世界癌症患者研发创新抗肿瘤药物，提升药物可及性。随着公司产品收入的增长和经营效率的提升，公司盈利水平持续得到改善，并在 2025 年实现盈利，公司经营质效提升成果充分展现了上交所《"提质增效重回报"行动倡议》的落地成效。2026 年，公司将持续专注于主营业务的发展，提升业务竞争力，加强公司财务管理能力和盈利水平，继续致力于以扎实的经营成果践行"提质增效重回报"的监管要求，切实维护全体投资者的长远合法权益。
表 1 公司财务状况
单位：亿元币种：人民币经营指标 2024 年 2025年 2026年
将介于人民币449 亿营业收入 272 382
元至462 亿元之间
毛利率 84% 88% 80%区间的高位
研发费用、销售将介于人民币333 亿273 305
及管理费用合计元至348 亿元之间
注：以上2024年及2025年度数据为经审计的年度报告数据；2026年度数据为公司2026年年度经营业绩预测数据，详见公司于2026年8月6日披露的《百济神州有限公司自愿披露关于2026年度经营业绩预测调整的公告》（公告编号：2026-024）。
二、管理层对公司提质增效重回报现状的讨论与分析
（一）经营类指标分析
表 2 经营类指标
1、营业收入
指标选取
2、毛利率
2025 年度，公司实现营业收入 382 亿元，比上年同期增加 40%，主要得益于百悦泽®，以及安进公司授权产品和百泽安®的销售增长。2026 年度，本公司营业收入预计将介于人民币449 亿元至462 亿元之间。
2025 年度，公司毛利率约为 88%，比上年同期增加 3 个百分点，主要是由于百悦泽®全球销售收入占产品组合中的销售比重相对其他产品有所提高。此外，生产效率的提升也使百悦泽®和百泽安®的成本均有所降低，从而进一步提升了毛利率。2026 年度，本公司毛利率预计处于80%区间的高位。
（二）回报类指标分析
公司严格遵循《"提质增效重回报"行动倡议》的监管导向，始终将提升自身投资价值，构建与公司发展阶段深度适配的投资者回报体系以及不断增强投资者获得感作为公司重要目标之一。结合公司的实际情况，根据《"提质增效重回报"行动倡议》要求的回报类评估维度，公司选取如下回报类指标，全面、客观评估与分析公司在投资者回报领域的实践情况，切实保障全体投资者的知情权与长远利益。
表 3 回报类指标
指标选取
1、公司暂未推进相关分红/回购安排，该决策与当前公司
的经营实际具备充分匹配性；
2、公司积极践行可持续发展理念，主动承担社会责任，持续主动披露《负责任商业和可持续发展报告》；
3、公司最近一年积极开展现场或线上业绩说明会等投资者接待和座谈交流活动并采取了可视化形式解读公告、介绍公司业务和经营相关情况。
指标1、公司暂未推进相关分红/回购安排，该决策与当前公司的经营实际具备充分匹配性
Considering the company's corporate development stage, the company has not yet promoted relevant dividend/buyback arrangements that are fully compatible with the current company's actual operations. The specific description is as follows:
- Continuously high investment in R&D is a characteristic of the company’s current operations.
The company has a large amount of R&D expenditures. Since its establishment, it has focused on drug R&D and has many R&D pipelines. R&D investment has shown an increasing trend in recent years. With the expansion of the company's global R&D team, the increase in clinical and preclinical drug candidates, and combined with the market dynamics of increased external costs of development projects, the company expects to maintain the operating characteristics of high R&D investment in the future.
- The company has accumulated uncompensated losses and is not eligible for dividends.
As a global oncology treatment innovation company, the research and development, production and commercialization of new drugs are processes with large investments, long cycles and high risks. Since its establishment, the company has continued to invest in early drug discovery, preclinical research, clinical development, regulatory review, production, commercial promotion and other aspects. As of June 30, 2026, the company still has accumulated uncompensated losses, so the company is currently not eligible for dividends.
- Phased operating characteristics of enterprise development
The Company's business operates in a highly competitive global environment, and its marketed products face stiff competition in regulated markets around the world. The company's corporate development stage means that the company must continue to invest in and accumulate experience in the development, acquisition and marketing of innovative and branded medicines and drug candidates to compete effectively in current and future markets. This requires companies to invest significant capital and resources in development to prevent erosion of existing products and generate revenue in the next wave of innovation. The company has significantly improved and is expected to continue to improve the company's research, development, production and commercialization capabilities. The company expects that in the future, the production lines supporting the pipelines under development and the research and development of pipeline products will still need to maintain a large amount of investment, and plans to retain most of the available funds and profits for the development and sustainable growth of the company's business.
- Long-term interest binding mechanism for the core team
The company has no controlling shareholders and actual controllers, and there are no restraint arrangements for actual controllers to increase their holdings under the traditional governance framework. For directors and senior managers, the company has used diversified incentive tools such as restricted share units/stock options/performance share units to deeply bind the personal income of directors and senior managers to the company's long-term value growth, guiding directors and senior managers to focus on the company's long-term development and the long-term interests of all shareholders, forming a stable long-term restraint and incentive mechanism.
- Protect investors’ interests through system construction
The company has formulated the "BeiGene Co., Ltd. A-share Value Management System", which provides detailed provisions on the basic principles of market value management, market value management institutions and responsibilities, market value management methods and plans, monitoring and early warning mechanisms and emergency measures. The company will operate in accordance with this system, focus on its main business, operate steadily, promote the improvement of operating standards and development quality, actively take measures to protect the interests of investors, and on this basis, do a good job in investor relations management, enhance the quality and transparency of information disclosure, and promote the company's investment value to reasonably reflect the company's quality.
Indicator 2. The company actively practices the concept of sustainable development, takes the initiative to assume social responsibilities, and continues to proactively disclose the "Responsible Business and Sustainable Development Report"
The company has begun to disclose the "Environmental, Social and Corporate Governance Report" in 2018, and will begin to disclose the "Responsible Business and Sustainability Report" on the Shanghai Stock Exchange Science and Technology Innovation Board in 2024. On April 15, 2026, the company disclosed the "2025 Responsible Business and Sustainability Report" and its summary, following the principle of materiality to complete the identification, analysis and special disclosure of ESG issues. The relevant disclosure content covers industry characteristics and regulatory requirements.
In 2025, the company achieved the goal of reducing Scope 1 (direct greenhouse gases) and Scope 2 (indirect greenhouse gases) emissions by 25% for each unit of independently produced commercial products ahead of schedule. On this basis, the company has established a new goal: to reduce scope 1 and scope 2 greenhouse gas emissions per unit of commercial products produced in-house by 50% by 2030, based on the 2024 baseline. In addition, the company has updated its climate risk assessment
assessment and established the first quantitative emission reduction target for Scope 3 greenhouse gases.
The company has always promoted the company's responsible business and sustainable development goals and regarded responsible business and sustainable development as one of the priorities of the company's work. In the future, the company will continue to benchmark domestic and overseas regulatory guidance and advanced industry practices, continuously optimize the preparation standards and disclosure levels of ESG-related reports, steadily improve information transparency in the field of social responsibility, and consolidate the operational foundation for sustainable corporate development.
Indicator 3. In the past year, the company has actively carried out on-site or online performance briefings and other investor reception and discussion activities, and adopted a visual form to interpret announcements and introduce the company's business and operations.
- The company continues to improve the information disclosure and investor relations management mechanism, promptly announces major matters related to operations, expands the channels for investors to obtain information, and improves the convenience for investors to obtain information.
The company strictly abides by relevant laws and regulations, formulates and strictly implements information disclosure management and investor relations management systems, promptly announces major matters related to the company's operations to investors and the public, and ensures that information disclosure is true, accurate, complete and timely. The company's website also has an "Investor Relations" (https://sseir.beonemedicines.com) section, which contains company announcements and other information for investors to browse, providing a quick channel for investors to understand the company more comprehensively. In addition, the company has also set up an investor area in the BeiGene Brand Center WeChat mini-program to provide timely company performance highlights and investor presentation materials, and timely update the company's current status to investors in a multimedia format. The company has set up a communication hotline for A-share investors, with dedicated personnel responsible for answering and accepting investor inquiries. The company also communicates regularly with investors through the SSE E interactive platform to protect the interests of small and medium-sized investors. The company regularly organizes research activities for institutional investors and announces the contents of investor research activities in strict accordance with information disclosure requirements.
- The company continues to improve the quality of information disclosure to help investors more comprehensively understand the industry situation and company value.
The company attaches great importance to the compliance of information disclosure and always performs its information disclosure obligations in strict accordance with applicable laws, regulations and listing rules. The company will continue to carry out information disclosure based on the principles of "truth, accuracy, completeness, timeliness and fairness", improve the quality of information disclosure, and help investors better understand the value of the industry and the company.
- The company continues to improve the foundation of relevant corporate governance systems, ensures timely, effective and in-depth communication between the company and investors, and further improves corporate governance levels
In order to effectively protect the legitimate rights and interests of investors, in accordance with the provisions of applicable laws and regulations, the company has formulated the "BeiGene Co., Ltd. Information Disclosure Domestic Representative Work Rules", "BeiGene Co., Ltd. A-Share Information Disclosure Management System", "BeiGene Co., Ltd. A-Share Value Management System" and other systems, which can effectively ensure good communication between the company and investors, increase investors' understanding of the company, and further improve corporate governance levels, thereby better maximizing the company's overall interests and protecting the legitimate rights and interests of investors. In the future, the company will use a variety of methods to communicate with investors in a timely, effective and in-depth manner, improve communication efficiency and reduce communication costs.
- The company continues to enrich investor communication forms, maintains high-frequency interactions with investors through various forms, and discloses investor relations activity records as required. At the same time, the company uses visual and digital channels to improve the readability, transparency and reach efficiency of regular reports and business progress disclosures.
In the first half of 2026, the company continued to strengthen communication with investors and improve the quality of information disclosure through the following measures to enhance investors' understanding of the company and enhance investor confidence: 1) The company successfully held the 2025 performance briefing at the Shanghai Stock Exchange Roadshow Center. Through online interaction, the management interpreted the company's performance information for different reporting periods for investors, answered the main questions of investors' concerns in real time, and achieved instant two-way communication. In the first half of 2026, the company held two quarterly results conference calls. The archived replay of the live webcast of the conference has been uploaded to the "Investor Relations" area of the company's website. The "Investor Relations Activity Record Form" has been disclosed after the meeting to facilitate shareholders to understand the main content of the performance conference call. On June 1, 2026, the Company held an investor webcast that highlighted the Company's key solid tumor programs presented at the American Society of Clinical Oncology (ASCO) Annual Meeting, shared the progress of the Company's global R&D portfolio, and outlined the strategies and capabilities supporting the Company's continued growth trajectory. In addition, based on actual business progress and communication needs, the company held a number of business progress research meetings for institutional investors and participated in investor conferences organized by securities companies to strengthen communication and interaction with various investors, and promptly released the "Investor Relations Activity Record Form" in accordance with information disclosure requirements; 2) Continue to communicate through multiple channels such as investor hotlines, investor e-mails, and the Shanghai Stock Exchange E interactive platform 3) Use new media to carry out investor relations management activities, regularly produce and disseminate "One Picture to Understand" performance highlight charts, business progress reviews, performance videos and other visual content on the company's official platform to improve the readability of regular reports. Improve the quality of information disclosure; 4) Continuously update the "Investor Relations" section of the company's website, including uploading presentations on performance and key investor activities to display the company's regular reports and business progress, and set up a special section entrance for the latest performance-related information on the homepage of the "Investor Relations" website to facilitate investors to obtain the latest information in a timely manner; through rich quarterly investor presentations display materials and appendices, etc., further improving the transparency of the company's information disclosure; 5) In order to actively respond to investor needs and improve the convenience of information acquisition, the company continues to update the investor area of the BeiGene Brand Center WeChat mini program to facilitate investors to obtain the above information in a timely manner; 6) In order to allow investors to better understand the company's operating performance and future performance prospects, the company has On February 27, 2026, it voluntarily disclosed an announcement on the operating performance forecast for 2026, and on May 7, 2026, it voluntarily disclosed an announcement on the adjustment of the operating performance forecast for 2026.
- The company will continue to strengthen communication with investors, further improve the quality of information disclosure, and continuously enhance investors’ sense of gain.
The company will continue to strengthen communication with investors, further improve the transparency, readability and effectiveness of information disclosure, and actively listen to investors' opinions and suggestions to continuously enhance investors' sense of gain.
(3) Analysis of normative indicators
In accordance with the regulatory guidance and requirements of the Shanghai Stock Exchange's "Improving Quality, Efficiency and Focusing on Returns" Action Initiative, the company conducted a comprehensive self-examination focusing on multiple indicators in core dimensions such as corporate governance and standardized operations, selected and set standardized indicators, and confirmed that the company did not have any prohibited situations listed in relevant rules, as follows:
Table 4 Standard indicators
The company's financial reports are prepared in a standardized manner, and the internal control system operates in a standardized and orderly manner. The accounting firm issues standard unqualified audit reports on the company's financial statements and internal controls. The financial information is true, accurate and complete, and the internal control system is sound and effective;
The company continues to deepen the quality control of information disclosure. The evaluation results of information disclosure work in the last two consecutive years do not have Category C or D situations. The selection of credit indicators
Information disclosure is timely, accurate and complete;
The company has always regarded compliance as the core bottom line of governance. In the past year, there has been no administrative penalty from the China Securities Regulatory Commission and its dispatched offices, public condemnation or notice of criticism from the Shanghai Stock Exchange;
The company operates the decision-making mechanism of the board of directors and shareholders’ meetings in strict accordance with the requirements of the Articles of Association and the regulatory rules of domestic and overseas listing places. The convening, holding and voting procedures of the company’s board of directors and shareholders’ meetings in the past year are legal, and all
The proposals submitted for consideration all form effective resolutions in accordance with laws and regulations, there are no vetoed proposals, and the decision-making mechanism operates efficiently;
5、公司已制定《A股募集资金管理制度》，最近一年募集资金使用及管理符合法规和公司内部制度的规定，最近一年不存在股东承诺及履行等方面不符合原定计划的情形；
6、最近一年公司财务信息披露规范，不存在会计差错更正、多次披露更正公告等情形。
公司目前系一家依据瑞士法律注册成立并在美国纳斯达克全球精选市场、香港联合交易所有限公司和上海证券交易所科创板三地上市的红筹企业。公司结合公司注册地和境内外上市地的相关法律法规及规则制定了现行的公司治理制度。公司一直高度重视公司治理水平的提升和完善，不断强化在内控制度、规范运作等方面的合规管理。
2026 年上半年，公司按照《公司章程》的规定完成董事会重选工作。公司聘任了七名专业人士担任公司独立非执行董事，参与决策和监督，增强董事会决策的客观性、科学性。公司持续总结三地资本市场及公司注册地的法律法规更新，适时传递给董事、管理层及相关业务部门。
公司组织相关人员参与上交所组织的各类规则及业务培训等，帮助"关键少数人员"及负责投资者关系、信息披露等业务人员理解监管动态、提升履职技能和不断强化法律合规意识和知识储备，推动公司整体治理水平的全面提升和公司持续规范运作。
公司结合三地证券监管机构的最新要求，在2026 年上半年制定了《董事、高级管理人员薪酬管理制度》，落实了上交所《"提质增效重回报"行动倡议》中关于"持续完善各方归位尽责、有效制衡的内部治理机制"的倡议，体现了董事、高级管理人员激励与长期价值绑定的核心导向。公司还结合三地证券监管机构关于董事高管薪酬合规的最新监管规则，进一步明确董事高管薪酬管理机构、构成与标准、止付追索等规则。
三、目标汇总
公司严格对标《"提质增效重回报"行动倡议》的整体工作要求，结合公司财务经营类、回报类、规范类三大维度指标的全面评估结果，汇总公司未来的行动目标，具体如下：
表5 财务类或经营类指标及行动目标
现状目标风险
2026 年全
年将介于
2026 年半公司关于经营业绩及财务指标的预测，为营业收年度，公司人民币
根据公司内部估算、当前可掌握的信息以入实现营业收
449 亿元
入222 亿元
至462 亿及市场条件等作出的初步预测和期望。预元之间测情况存在诸多不确定性和风险，这些因2026 年半 2026 年全素来自包括但不限于药物早期发现、临床
年度，公司年将位于
毛利率
前研究、临床开发、监管审查、生产、商毛利率为
80%区间
89% 业化推广等多个环节的风险，公司业务运
的高位
研发费 2026 年全营、财务状况和经营业绩可能会受到这些
2026 年半
用、销年度，公司年将介于不确定因素以及其他目前未能预测的因售及管研发费用、 人民币
素的影响，因此实际结果可能与预测情况
销售及管理
理费用 333 亿元
费用合计
存在重大差异。
合计至348 亿
158 亿元
元之间
表6 回报类、规范类等非财务类指标及行动计划
现状或问题计划
投资 1、 结合公司所处企业发展阶段， 1、 未来公司将持续结合当期财者回公司暂未推进分红、回购安排与当务数据，累计亏损的变动情况，报前经营实际高度匹配：公司长期维参考行业市场环境，对公司分持高研发投入节奏，截至2026 年6 红、回购安排持续关注和评估。月末仍存在累计未弥补亏损，现阶 2、 公司将继续根据适用的境内段不具备分红条件；叠加全球创新外法规以及上市地监管规则，识药市场的高竞争属性，后续管线推别并披露相关重要议题；未来公进、产能建设仍需大额资金投入，司将持续对标境内外监管导向公司需留存资金保障长期经营发与行业先进实践，不断优化ESG展。同时公司无控股股东及实际控相关报告的编制标准与披露水制人，已通过多元化股权激励方式平，稳步提升社会责任领域的信实现董事、高管与全体股东的长期息透明度，夯实企业可持续发展利益绑定，公司制定的《A 股市值的运营根基。
管理制度》也将持续推动公司价值 3、公司将持续完善信息披露与向市场合理传递，切实保障投资者投资者关系管理机制，及时公告长远权益。 与经营相关的重大事项，拓展投2、公司积极践行可持续发展理念，资者信息获取渠道，提升投资者主动承担社会责任，持续主动披露获取信息的便利性；同时持续提《负责任商业和可持续发展报告》。 升信息披露质量，帮助投资者更3、公司最近一年积极开展现场或线全面理解行业情况及公司价值。上业绩说明会等投资者接待和座谈公司还将进一步健全公司治理交流活动并采取了可视化形式解读制度基础，保障公司与投资者之公告、介绍公司业务和经营相关情间及时、有效、深入沟通，并持况。 续丰富投资者沟通形式，通过业绩说明会、业绩电话会议、投资者网络直播等多种形式与投资者保持高频互动，按要求披露投资者关系活动记录表，并借助可视化及数字化渠道提升定期报告和业务进展披露的可读性、透明度和触达效率，不断提升投资
者获得感。
公司公司围绕公司治理、规范运作等核 1、公司将持续跟进公司上市地治理心维度的多项指标展开全面自查，及注册地的法律法规更新，及时
确认公司未出现相关规则列明的禁传递给董事、管理层及相关业务止性情形，整体公司治理质效保持部门。
优良水平。 2、公司将常态化组织"关键少数人员"及负责投资者关系、信息披露等业务人员参与监管机构、上市公司协会等举办的培训，提升相关业务人员履职技能。
3、公司将严格落实公司制定的各项管理制度和规则，形成适配公司上市地监管规则的长效治理约束体系。
四、投资者交流渠道
联系人：投资者关系部
电话：400 862 3235
公司高度重视投资者关于改进本行动方案的意见和建议。除公司定期举办的各类投资者交流活动以外，投资者还可以通过公司的投资者关系邮箱、投资者联系电话、上证E互动平台等日常交流方式反馈对本行动方案的意见。后续实施过程中，公司也将结合公司实际情况及投资者关切问题，不断优化本行动方案并持续推进方案的落地。
本行动方案所涉及的公司未来业务运营、发展战略、经营业绩预测及相关行动目标和行动计划等包含前瞻性陈述。预测情况存在诸多不确定性和风险，实际结果可能与预测情况存在重大差异，不构成公司对投资者的实质承诺，本行动方案的实施未来可能会受到国内外市场环境、政策调整等因素影响，具有一定的不确定性，敬请广大投资者注意潜在的投资风险。
百济神州有限公司2026年8月26 日