CanSino Biologics Inc. (CANSINOBIO) released its unaudited results for the nine months ended 30 September 2026.
Revenue Trends • Operating revenue reached RMB 882.31 million, up 27.40% year-on-year (YoY), driven by an expanding commercial vaccine portfolio and growing overseas sales. • Third-quarter (Q3) revenue rose 7.17% YoY to RMB 332.48 million.
Profitability • Profit before tax for the nine-month period increased to RMB 23.01 million, a 171.06% YoY surge, helped by tighter cost control and efficiency gains. • Net profit attributable to shareholders stood at RMB 16.29 million, up 12.82% YoY; Q3 net profit fell 39.08% YoY to RMB 17.01 million. • Excluding non-recurring items, the company recorded a nine-month loss of RMB 44.98 million, yet Q3 core profit improved 66.56% YoY to RMB 5.07 million.
Key Cost Items • Selling expenses rose to RMB 307.97 million (+11.09% YoY) as the group expanded market penetration. • Research and development spend totaled RMB 259.54 million, representing 29.42% of revenue and a 5.33% YoY decline in absolute terms. • Share-based payment expenses and foreign-exchange losses weighed on Q3 earnings, while other income linked to international R&D funding fell YoY.
Cash Flow and Balance Sheet • Operating cash outflow was RMB 23.86 million versus an inflow of RMB 33.49 million a year earlier, reflecting higher spending on channel development and academic promotion. • Total assets decreased 4.63% from year-end 2025 to RMB 6.85 billion, while shareholders’ equity edged up 1.09% to RMB 5.01 billion. • Cash and cash equivalents at period-end were RMB 1.13 billion.
Regulatory Impact A Value-Added Tax policy shift effective 1 January 2026 lifted the VAT rate on domestic vaccine sales from 3% to 13%. The transition allowed input-tax deductions but exerted pressure on margins during the reporting period.
Shareholder Structure HKSCC Nominees Limited remained the largest shareholder with 97.86 million shares (39.61%). Five founders and related entities collectively held over 31% of share capital.
Audit Status The figures are prepared under Chinese Accounting Standards and have not been audited.