HUTCHMED (China) Limited

Hello, everyone. Welcome to HatchMet 2025 full-year result and business update. Today, we're going to go through our result in a formal presentation by our senior management, and then it will be followed by Q&A. Before I start, let's turn to page two with our usual safe harbor statement. Basically, the performance and results of our operation contained within this presentation are historical in nature. and the past performance is no guarantee of future results the information in this presentation is subject to changes and hutchmed has no liability for any loss arising from the use of these contents um my name is david i'm the head of io of hutchmed we are very happy that we're going to have our senior management to present the results Let me hand off the time to our Acting Chief Executive Officer and Chief Financial Officer, Jonny Chan. Jonny.

Thank you, David. And thank you everyone for attending Hachimed's 2025 Results webcast. Joining me today is our Deputy CFO, Lorenzo Jill, who will give us an overview of our financial performance. Our Head of Commercial, George Yuan, who will share with you our commercial performance and our head of discovery, Dr. Guangxiu Dai, who will provide an update on our R&D pipeline progress. Next slide, please. A quick highlight of our 2025 achievements. We are pleased with our ExChina Fuseca sales, which had 26% growth versus last year, resulting in $366 million in in-market sales. More importantly, Fuseca has rolled out to over 38 countries already. As for our China sales, it has rebounded in the second half of the year, achieving 21% in-market sales growth versus our first half intron results. In terms of our cash position, we have about $1.4 billion, which allows us to accelerate our global ATTC development and provide resources to explore potential in-licensing and NMA opportunities. On the right hand side, we have now advanced two of our ATTC programs into the clinic, which we believe will have huge market potential. In addition, We are pursuing potential business development opportunities with multinational companies. In terms of the progress of our pipeline, I will leave it to Dr. Dai to share with you later on. I will now turn it over to Lorenzo for the financial review and outlook. Lorenzo.

Thanks, Johnny. Let me give an overview of our key financial highlights for 2025. Total Oncology revenue was $286 million. This includes $71 million R&D-related upfront and milestone revenues. For Oncology products revenue, as Johnny already mentioned, there was a rebound from our China Oncology products, which recorded 21% growth in in-market sales in the second half, while the second continues its global expansions. On net income, we recorded a profit of $457 million for 2025, mainly due to the HHPL divestment gain of $460 million. Excluding this one-time gain, our core operations remain profitable. Next, please. Our R&D expenses for 2025 was $148 million, Expenses were lower versus 2 to 4 as many of our late stage trials are in the completion stage with multiple NDAs now awaiting approvals. In addition, we began shifting our investments into our early stage, ATTC-SS, with two candidates already in the clinic. Our cash position has been further strengthened to about $1.4 billion That positions us well to accelerate both investments and developments of our ATTC programs Next Looking forward to 2026, our oncology revenue guidance is in the range of $330 million to $450 million This reflects a strong solid growth from 2005 driven by strong growth in our China commercial products with contributions from new indications as well as a full cycle of continuous global expansions. In addition, let us consider the potential partnership opportunities for our new drug candidates, including ATTC. Now I'd like to hand it over to George to give an overview of the China commercial.