← Beijing Tiantan Biological Products overview

Beijing Tiantan Biological Products vs Suzhou Zelgen Biopharmaceuticals: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Beijing Tiantan Biological Products Corp Ltd (600161.CG)

Q3 202614 Jul – 8 Oct 2026

▼2▲1

Profit halved on price cuts and tax; new drug trial offers hope

First-half profit halved by price cuts and tax change Tiantan's first-half 2026 net profit fell about 52% to 299 million yuan, with revenue down 16.6%. The company blames medical insurance cost controls that sparked price competition in blood products, plus a January 2026 VAT change that raised its tax bill. Lower prices and higher taxes squeeze profit.
This is the core new financial result showing why the stock is under pressure.
Industry-wide price war and tax hit confirmed by peers Rival Weiguang Biological also reported a near-60% profit drop and is expanding capacity despite high inventory, signaling the whole blood-products sector is oversupplied and competing on price. This confirms Tiantan's troubles are industry-wide, not company-specific, and keeps pressure on its pricing and margins.
Shows the downturn is sector-wide, reinforcing the negative outlook for Tiantan's prices and volumes.
New hemophilia B drug clears Phase III trial Tiantan's subsidiary Chengdu Rongsheng completed Phase III testing of Human Coagulation Factor IX for hemophilia B and obtained the summary report. This moves a new product closer to market, which could add future revenue and reduce reliance on older products facing price pressure.
A new pipeline advance is the main positive development this period that could support the stock.

August 202614 Jul – 8 Oct 2026

▼2▲1

Profit halved on price cuts and tax; new drug trial offers hope

First-half profit halved by price cuts and tax change Tiantan's first-half 2026 net profit fell about 52% to 299 million yuan, with revenue down 16.6%. The company blames medical insurance cost controls that sparked price competition in blood products, plus a January 2026 VAT change that raised its tax bill. Lower prices and higher taxes squeeze profit.
This is the core new financial result showing why the stock is under pressure.
Industry-wide price war and tax hit confirmed by peers Rival Weiguang Biological also reported a near-60% profit drop and is expanding capacity despite high inventory, signaling the whole blood-products sector is oversupplied and competing on price. This confirms Tiantan's troubles are industry-wide, not company-specific, and keeps pressure on its pricing and margins.
Shows the downturn is sector-wide, reinforcing the negative outlook for Tiantan's prices and volumes.
New hemophilia B drug clears Phase III trial Tiantan's subsidiary Chengdu Rongsheng completed Phase III testing of Human Coagulation Factor IX for hemophilia B and obtained the summary report. This moves a new product closer to market, which could add future revenue and reduce reliance on older products facing price pressure.
A new pipeline advance is the main positive development this period that could support the stock.

Latest14 Jul – 8 Oct 2026

▼2▲1

Profit halved on price cuts and tax; new drug trial offers hope

First-half profit halved by price cuts and tax change Tiantan's first-half 2026 net profit fell about 52% to 299 million yuan, with revenue down 16.6%. The company blames medical insurance cost controls that sparked price competition in blood products, plus a January 2026 VAT change that raised its tax bill. Lower prices and higher taxes squeeze profit.
This is the core new financial result showing why the stock is under pressure.
Industry-wide price war and tax hit confirmed by peers Rival Weiguang Biological also reported a near-60% profit drop and is expanding capacity despite high inventory, signaling the whole blood-products sector is oversupplied and competing on price. This confirms Tiantan's troubles are industry-wide, not company-specific, and keeps pressure on its pricing and margins.
Shows the downturn is sector-wide, reinforcing the negative outlook for Tiantan's prices and volumes.
New hemophilia B drug clears Phase III trial Tiantan's subsidiary Chengdu Rongsheng completed Phase III testing of Human Coagulation Factor IX for hemophilia B and obtained the summary report. This moves a new product closer to market, which could add future revenue and reduce reliance on older products facing price pressure.
A new pipeline advance is the main positive development this period that could support the stock.

Suzhou Zelgen Biopharmaceuticals Co Ltd (688266.CG)

Q3 202621 Jul – 21 Sep 2026

▲4

Zelgen turns profitable, lands AbbVie deal and new drug filings

First-ever half-year profit on 1.2 billion yuan revenue Zelgen reported about 640 million yuan first-half net profit, its first half-year profit ever, on revenue up 220.88% to 1.205 billion yuan. Most came from licensing payments, but product sales also rose 44.3% as insurance-covered drugs sold more. Profitability supports the share price.
The profit turnaround is the core fundamental change behind the stock's re-rating.
AbbVie overseas licensing partnership Zelgen signed a strategic partnership with global drugmaker AbbVie for overseas licensing of its products. A big foreign partner can bring cash, validation and access to overseas markets, which raises expectations for future revenue and supports the stock.
A major global partnership is a new growth catalyst that directly lifts investor expectations.
New indication filing accepted by NMPA China's drug regulator accepted Zelgen's marketing application for a new use of injectable human thyrotropin beta (Zesuning), for thyroid cancer patients after surgery. Acceptance moves the product closer to approval, adding a future sales stream and helping the stock.
Regulatory progress on an existing product is a concrete new pipeline milestone.
Fund buying and friendlier innovative-drug rules Star manager Zhu Shaoxing's fund added Zelgen to its top ten holdings, a sign of rising institutional demand. Separately, the NMPA is strengthening pre-guidance and market exclusivity for innovative drugs, and Zelgen rose with a sector ETF. Both support the price.
Institutional buying and supportive regulation are fresh demand and policy tailwinds.

August 202621 Jul – 21 Sep 2026

▲4

Zelgen turns profitable, lands AbbVie deal and new drug filings

First-ever half-year profit on 1.2 billion yuan revenue Zelgen reported about 640 million yuan first-half net profit, its first half-year profit ever, on revenue up 220.88% to 1.205 billion yuan. Most came from licensing payments, but product sales also rose 44.3% as insurance-covered drugs sold more. Profitability supports the share price.
The profit turnaround is the core fundamental change behind the stock's re-rating.
AbbVie overseas licensing partnership Zelgen signed a strategic partnership with global drugmaker AbbVie for overseas licensing of its products. A big foreign partner can bring cash, validation and access to overseas markets, which raises expectations for future revenue and supports the stock.
A major global partnership is a new growth catalyst that directly lifts investor expectations.
New indication filing accepted by NMPA China's drug regulator accepted Zelgen's marketing application for a new use of injectable human thyrotropin beta (Zesuning), for thyroid cancer patients after surgery. Acceptance moves the product closer to approval, adding a future sales stream and helping the stock.
Regulatory progress on an existing product is a concrete new pipeline milestone.
Fund buying and friendlier innovative-drug rules Star manager Zhu Shaoxing's fund added Zelgen to its top ten holdings, a sign of rising institutional demand. Separately, the NMPA is strengthening pre-guidance and market exclusivity for innovative drugs, and Zelgen rose with a sector ETF. Both support the price.
Institutional buying and supportive regulation are fresh demand and policy tailwinds.

Latest21 Jul – 21 Sep 2026

▲4

Zelgen turns profitable, lands AbbVie deal and new drug filings

First-ever half-year profit on 1.2 billion yuan revenue Zelgen reported about 640 million yuan first-half net profit, its first half-year profit ever, on revenue up 220.88% to 1.205 billion yuan. Most came from licensing payments, but product sales also rose 44.3% as insurance-covered drugs sold more. Profitability supports the share price.
The profit turnaround is the core fundamental change behind the stock's re-rating.
AbbVie overseas licensing partnership Zelgen signed a strategic partnership with global drugmaker AbbVie for overseas licensing of its products. A big foreign partner can bring cash, validation and access to overseas markets, which raises expectations for future revenue and supports the stock.
A major global partnership is a new growth catalyst that directly lifts investor expectations.
New indication filing accepted by NMPA China's drug regulator accepted Zelgen's marketing application for a new use of injectable human thyrotropin beta (Zesuning), for thyroid cancer patients after surgery. Acceptance moves the product closer to approval, adding a future sales stream and helping the stock.
Regulatory progress on an existing product is a concrete new pipeline milestone.
Fund buying and friendlier innovative-drug rules Star manager Zhu Shaoxing's fund added Zelgen to its top ten holdings, a sign of rising institutional demand. Separately, the NMPA is strengthening pre-guidance and market exclusivity for innovative drugs, and Zelgen rose with a sector ETF. Both support the price.
Institutional buying and supportive regulation are fresh demand and policy tailwinds.