Beijing Airdoc Technology Co., Ltd. (“Airdoc”) released its unaudited 1H 2026 results, reporting a 19.6% year-on-year revenue decline to RMB67.29 million, driven by tighter agent selection and credit policies. Gross profit fell 23.1% to RMB49.31 million, while gross margin slipped to 73.3% from 76.6%.

Net loss attributable to shareholders widened to RMB48.85 million (1H 2025: RMB1.67 million loss), weighed by foreign-exchange losses, fair-value changes in financial assets, higher market and service costs for PBM-AI expansion, and increased R&D and clinical spending.

Segment performance • Retina-AI: Revenue dropped 35.6% to RMB36.90 million; active service sites rose 18.7% to 8,523; average price per screening fell 28.0% to RMB11.6. • PBM-AI (myopia prevention and control): Revenue grew 24.0% to RMB27.94 million; active outlets surged 207.0% to 5,424, serving 27,000 youths. Device usage climbed 61.8% to 4.55 million sessions. • Stress Resilience Monitoring AI (Neuro-AI): Commercial rollout generated RMB0.36 million. • Vision Training AI revenue decreased 46.2% to RMB2.09 million.

Geographically, PRC sales contributed RMB59.72 million; overseas markets delivered RMB7.57 million, down 26.2%.

Cash and liquidity Cash and cash equivalents stood at RMB565.36 million (31 Dec 2025: RMB580.44 million). Net assets totalled RMB1.16 billion versus RMB1.22 billion at year-end 2025. Net current assets were RMB700.00 million. Short-term bank borrowings remained at RMB20.00 million.

Cost structure R&D expenses declined 6.3% to RMB31.11 million amid efficiency gains from the “WanYu” medical large language model and reduced equity-incentive charges. Selling and distribution expenses rose 8.3% to RMB27.38 million; administrative expenses fell 27.4% to RMB17.53 million.

Business highlights • “WanYu” vertical medical large language model completed capability upgrades; total token usage reached 402.6 billion. • Post-period, the next-generation PBM-AI myopia treatment device secured Class II NMPA registration in August 2026, targeting 6-15-year-old patients and featuring enhanced vision-health management software. • Airdoc forged a strategic alliance with a leading international optical group to deploy integrated digital eye-health assessments in Greater China stores. • Overseas certifications expanded: PBM-AI now approved in Malaysia; Retina-AI added Indonesia and EU CE marking. • R&D pipeline includes multi-centre clinical trials covering myopia control, retinal disease screening and stress resilience monitoring.

Capital actions During 1H 2026 Airdoc repurchased 1.22 million H shares for HK$13.96 million, holding 2.31 million treasury shares at period-end. No interim dividend was declared.

Governance and compliance The company reported full compliance with the Corporate Governance Code save for the combined roles of chairman and CEO held by founder Mr. Zhang Dalei. No material litigation, contingent liabilities or charge on assets were noted. Auditor Confucius International CPA Limited reviewed the interim results.

Future outlook Airdoc plans continued investment in “WanYu,” clinical studies and global approvals, with a focus on scaling PBM-AI, Retina-AI and Neuro-AI businesses, while monitoring costs and cash reserves.