Shanghai-based biomedical materials producer HAOHAI BIOTEC released interim results for the six months ended 30 June 2026.
Revenue fell 9.81% year on year to RMB1,165.84 million, driven mainly by a 23.95% contraction in the medical aesthetics and wound-care segment and the termination of a mainland orthokeratology lens distribution agreement.
Gross profit margin narrowed to 65.15%, down 4.96 percentage points, reflecting lower contribution from high-margin hyaluronic acid (HA) dermal fillers.
Net profit attributable to shareholders dropped 46.64% to RMB112.63 million. The decline was compounded by RMB21 million of additional depreciation and amortisation following completion of new production facilities.
Segment performance: • Medical aesthetics and wound care revenue: RMB435.99 million (-23.95%). HA dermal fillers plunged 41.59% to RMB202.01 million. • Ophthalmology revenue: RMB344.64 million (-5.87%). Distribution exit cut orthokeratology lens sales, partly offset by 26.07% volume growth in mid-to-high-end intraocular lenses (IOL). • Orthopedics revenue: RMB206.96 million (-8.41%) amid provincial volume-based procurement pressure. • Anti-adhesion and hemostasis revenue: RMB98.69 million (-10.26%). • Newly added regeneration and repair products contributed RMB61.09 million.
R&D spending was RMB95.39 million, equal to 8.18% of revenue (2025 interim: 7.61%). The company reported multiple product approvals, including hydrophilic and hydrophobic multifocal and toric IOLs, and a bio-gel intraocular filler.
The board declared an interim dividend of RMB0.25 per share, down from RMB0.40 a year earlier.
Balance sheet highlights: total assets stood at RMB6,558.86 million; shareholder equity was RMB5,303.03 million. Cash and bank balances decreased by RMB126.26 million to RMB2,319.71 million after continued investment in the Shanghai International Medical R&D and Industrialisation Project and H-share buy-backs.
Looking ahead, management plans to accelerate high-end product launches — notably EDOF IOLs and second-generation PRLs — while leveraging channel synergies and preparing for further volume-based procurement rounds.