Assisted reproductive integrated service provider JXR released its 2025 financial report, showing annual revenue of 2.649 billion yuan and 28,039 egg retrieval cycles performed. Notably, JXR's performance in the first and second halves of 2025 presented a stark contrast, with the latter half showing a comprehensive recovery across four key indicators: egg retrieval cycles, management income, adjusted EBITDA, and adjusted net profit, all registering significant sequential growth.

JXR CEO Dong Yang stated that this indicates the recovery is not merely a rebound in a single metric but reflects growth across business volume, revenue, and profitability. He emphasized that the improvement is not only a business recovery but also includes structural optimization and efficiency gains, built upon a healthier structure, more coordinated platform, more focused management, and more efficient organization.

According to a recently released industry white paper by Frost & Sullivan, JXR has become the largest in-vitro fertilization medical service provider in China based on the number of egg retrieval cycles.

Calculations based on the financial report data show that, compared to the first half of 2025, the second half saw a 3.1% increase in cycle numbers, a 3.8% rise in management income, an 18.2% growth in adjusted EBITDA, and a substantial 54.9% jump in adjusted net profit.

The report indicates that in the Chengdu market, third-generation IVF cycles also experienced rapid growth in 2025, completing 1,583 cycles—a 72.8% year-on-year increase. The integration of IVF and maternity services in Chengdu significantly improved, with IVF obstetric deliveries doubling. In the Shenzhen market, Greater Bay Area IVF cycles increased by 13.8% sequentially in the second half of 2025. Meanwhile, cycle numbers in the Kunming region grew by 5.3% sequentially in the latter half of the year. For the U.S. business, egg retrieval cycles in the second half of 2025 increased by 2.8% compared to the first half.

The report reveals that although China's overall birth population has been declining, the penetration rate of assisted reproduction continues to climb, rising from 7.0% in 2018 to 10.5% in 2025. However, the penetration rates in the United States and the European Union during the same period were 34.5% and 36.5%, respectively. Mao Hua, Partner and Managing Director at Frost & Sullivan, noted that trends such as the aging of women of childbearing age and delayed marriage and childbirth indicate that there remains significant room for the release of rigid demand for assisted reproduction, and the gap in penetration rates with Europe and the U.S. is expected to narrow.