InnoCare Pharma achieves profitability, removing special identifier 'U' for unprofitable companies
InnoCare Pharma (HKEX: 09969; SSE: 688428) today announced that its 2025 financial performance meets the relevant criteria for initial profitability set for unprofitable companies at the time of listing on the STAR Market. Starting from March 27, 2026, the company will officially remove the special stock abbreviation identifier 'U'. This marks the company's transition to profitability, allowing it to graduate from the growth tier of the STAR Market as one of the first batch of companies to 'exit the tier' under this mechanism, entering a track of sustainable growth and development.
The stock abbreviation of InnoCare Pharma will be officially changed from 'InnoCare Pharma-U' to 'InnoCare Pharma', while its A-share stock code 688428 remains unchanged.
The 2025 financial report recently released by InnoCare Pharma shows that the company achieved revenue in 2025, increasing year-on-yearby 135.3%achieving2.37 billion yuan, and in 2025first profit after previous losses, with a net profit of640 million yuan,This strong performance is mainly attributed to the continuous commercial scaling and global business development (BD) income.
2025 marks the tenth anniversary milestone for InnoCare Pharma, as well as a key year for achieving rapid growth and completing various strategic objectives.The company achieved profitability for the first time after losses, with two new innovative drugs approved for market launch. The commercialization of core products continued to gain momentum, globalization accelerated, and pipeline R&D achieved breakthroughs across multiple fronts. The company has been advancing into the new phase of 2.0 development by achieving several 'firsts in China'.This demonstrates the strong capability to transform technological innovation into long-term sustainable growth.
Relevant analysis points out that the Sci-Tech Growth Tier, launched in June 2025, specifically targets hard technology sectors such as artificial intelligence and innovative drugs, which involve heavy R&D investment and are not initially profitable. Today, these companies have proven with solid profit figures that the commercialization of hard technology is entering an acceleration phase.
[1] Currency is renminbi
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