JOINN Laboratories (China) Co., Ltd. reported first-quarter 2026 revenue of RMB316.14 million, a 10.02% year-on-year increase. Net profit attributable to shareholders surged to RMB238.36 million, up 479.67%, primarily driven by a RMB245.85 million gain from changes in the fair value of biological assets.

After excluding non-recurring items, net profit reached RMB217.39 million, a 747.11% rise. Basic and diluted earnings per share both improved to RMB0.32 from RMB0.05 a year earlier.

Core laboratory services remained under pressure, recording a loss of RMB28.46 million, 15.13% wider than the prior-year period, reflecting ongoing competitive pricing.

Operational cash flow nearly doubled to RMB127.61 million, supported by stronger cash collections from customers. Cash and cash equivalents at quarter-end stood at RMB983.08 million, up from RMB911.85 million at the start of the year.

Total assets increased 3.67% since year-end 2025 to RMB10.04 billion, while shareholder equity edged up 2.78% to RMB8.56 billion. The balance sheet shows contract liabilities of RMB1.04 billion, up 21.90%, underpinning future revenue conversion.

Commercial momentum accelerated alongside the recovery in the innovative drug sector. New orders signed in the quarter totaled approximately RMB910.00 million, a 111.6% year-on-year expansion, lifting the order backlog to about RMB3.10 billion—40.9% higher than a year ago.

Management attributes the sharp profit increase mainly to the fair-value uplift of biological assets and anticipates the enlarged order book will support operating performance in subsequent periods.