Insilico Medicine (03696.HK) shares surged more than 7% during the morning session. At the time of writing, the stock was up 7.28% to HK$47.46, with a turnover of HK$216 million.

The company previously issued a positive profit alert, forecasting first-half revenue to reach between US$102.5 million and US$106.5 million, representing a year-on-year increase of approximately 272.7% to 287.3%. Net profit is estimated to be between US$33.5 million and US$39.5 million, a significant turnaround from a net loss of US$19.2 million in the same period last year. Adjusted non-IFRS net profit is projected to be in the range of US$45.5 million to US$51.5 million. The rapid succession of business development collaborations has been the core driver behind the company's substantial performance growth.

It is noteworthy that the company has secured multiple partnerships in July alone. Insilico Medicine entered into another AI-driven drug discovery collaboration with CMS Pharma in the central nervous system field. Insilico Medicine also formed a strategic collaboration alliance with Bora Pharmaceuticals Co., Ltd.. Furthermore, Tencent Health and Insilico Medicine established a strategic partnership, aiming to integrate the entire chain from underlying computing power and large model infrastructure to biomolecular inference, thereby accelerating the innovative drug R&D process and promoting digital efficiency improvements in the pharmaceutical industry.