BeOne Medicines Ltd. — Six Months Ended June 30, 2026 Earnings Summary

Financial Performance

• Total research and development (R&D) expenses for the six months ended June 30, 2026, were $1,153,504 thousand, compared to $1,006,783 thousand for the same period in 2025.
• External R&D expenses totaled $435,126 thousand for the six months ended June 30, 2026, an increase from $400,259 thousand in the prior year period.
• Internal R&D expenses were $718,378 thousand for the six months ended June 30, 2026, up from $606,524 thousand in the prior year period.
• R&D expenses allocated to BRUKINSA® (zanubrutinib) were $42,703 thousand for the six months ended June 30, 2026, down from $63,041 thousand in the prior year period.
• R&D expenses allocated to TEVIMBRA® (tislelizumab) were $37,066 thousand for the six months ended June 30, 2026, down from $40,316 thousand in the prior year period.
• R&D expenses allocated to BEQALZITM (sonrotoclax) were $74,029 thousand for the six months ended June 30, 2026, down from $94,012 thousand in the prior year period.
• R&D expenses allocated to Tacabrutideg (BTK-targeted CDAC) were $44,306 thousand for the six months ended June 30, 2026, up from $26,912 thousand in the prior year period.
• R&D expenses allocated to BGB-43395 (CDK4 Inhibitor) were $22,661 thousand for the six months ended June 30, 2026, up from $9,858 thousand in the prior year period.
• R&D expenses allocated to BGB-B2033 (GPC3×4-1BB bispecific antibody) were $6,612 thousand for the six months ended June 30, 2026, up from $1,053 thousand in the prior year period.
• R&D expenses allocated to BG-C9074 (B7-H4 ADC) were $8,184 thousand for the six months ended June 30, 2026, up from $2,390 thousand in the prior year period.
• R&D expenses allocated to BGB-58067 (MTA-cooperative PRMT5 inhibitor) were $11,136 thousand for the six months ended June 30, 2026, up from $1,852 thousand in the prior year period.
• R&D expenses allocated to BG-C477 (CEA ADC) were $6,612 thousand for the six months ended June 30, 2026, up from $1,400 thousand in the prior year period.
• R&D expenses allocated to "Other R&D projects" were $98,283 thousand for the six months ended June 30, 2026, down from $111,779 thousand in the prior year period.
• R&D expenses allocated to "R&D collaboration projects" were $83,534 thousand for the six months ended June 30, 2026, up from $47,646 thousand in the prior year period.
• The document notes key differences between PRC GAAP and U.S. GAAP regarding share-based compensation recognition methods (accelerated vs. straight-line), income tax rate determination by jurisdiction, lease expense presentation, and the accounting treatment of transferred royalty rights (deferred revenue vs. liability).

Other Key Points

• On August 26, 2026, the Company filed its 2026 Interim Report for the six months ended June 30, 2026, with the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange.
• The STAR Interim Report is prepared in accordance with PRC GAAP and is available in Chinese language only on the Shanghai Stock Exchange website.
• In 2025, the Company transferred its royalty rights from a collaborative drug development arrangement to an independent third party for a fixed upfront cash consideration.
• Under PRC GAAP, the upfront cash consideration from the royalty transfer is recorded as deferred revenue with financing component adjustments and amortized over the collaboration period.
• Under U.S. GAAP, the upfront payment from the royalty transfer is recorded as a liability, with subsequent royalty payments recorded as reductions of the liability or accrued interest.