---
schema_version: "secwatch.filing_event.v1"
accession: "0001651308-25-000057"
form_type: "8-K"
ticker: "ONC"
cik: "0001651308"
company_name: "BeOne Medicines Ltd."
filed_at: "2025-04-28T23:59:59+00:00"
generated_at: "2026-05-23T05:01:36.972345+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# BeiGene files 2024 STAR annual report; US GAAP revenue $3.81B, gross margin down

## Summary
- Revenue $3.81B in 2024, up 55% YoY from $2.46B; gross margin 85.1% vs 84.5% prior year.
- China revenue $1.41B (gross margin 62.9%, down from 68.0%); ex-China revenue $2.40B (97.1% vs 98.0%).
- Total R&D expenses $1.95B, up 10% YoY; zanubrutinib R&D $129M, tislelizumab $69M, Bcl-2 $100M.
- Key product sales 5.0M vials in 2024; inventory 2.6M vials as of Dec 31, 2024.
- Differences between PRC GAAP and US GAAP outlined for share-based comp and lease accounting.

## SEC filing metadata
- accession: 0001651308-25-000057
- form_type: 8-K
- ticker: ONC
- cik: 0001651308
- company_name: BeOne Medicines Ltd.
- filed_at: 2025-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1651308/000165130825000057/0001651308-25-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1651308/000165130825000057/bgne-20250428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001651308-25-000057
- JSON: https://secwatch.observer/filing/0001651308-25-000057.json
- Plain text: https://secwatch.observer/filing/0001651308-25-000057.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.