Concord Healthcare Group released unaudited interim results for the six months to 30 June 2026. Revenue reached RMB 269.65 million, up 34.20% year-on-year, driven by a 73.40% leap in hospital income to RMB 265.65 million after the Guangzhou proton therapy centre entered large-scale routine operation.

Gross profit jumped to RMB 72.96 million from RMB 0.38 million a year earlier, translating into a gross margin of 27.10% (2025: 0.20%). Net loss narrowed 50.40% to RMB 99.23 million; basic loss per share improved to RMB 0.0987 from RMB 0.2446.

Cost of revenue edged down 1.90% to RMB 196.69 million. Variable costs fell 12.80% as equipment sales slowed, while fixed costs rose 4.40% on higher employee and maintenance expenses linked to expanding clinical volumes. Selling and distribution expenses increased 43.70% to RMB 30.37 million, and administrative expenses rose 16.20% to RMB 64.30 million.

Medical equipment, software and related services revenue contracted 91.60% to RMB 3.99 million amid deferred demand and expiring contracts, producing an operating loss for the segment. Conversely, hospital services contributed 98.50% of group turnover and generated a 31.70% margin.

Finance costs decreased 10.20% to RMB 59.54 million as interest capitalisation on construction projects offset lower borrowing rates. Operating cash inflow recovered to RMB 50.26 million (2025 outflow: RMB 60.41 million) on stronger hospital receipts, though total cash and equivalents declined 19.30% to RMB 137.26 million after RMB 108.20 million of investing outflows and RMB 99.27 million of financing repayments.

Total assets stood at RMB 5.66 billion with net assets of RMB 1.93 billion. The current ratio improved to 0.64 (31 Dec 2025: 0.54) after short-term borrowings fell to RMB 270.29 million from RMB 600.32 million. Gearing ratio was 65.90%.

Operationally, the Guangzhou facility surpassed 1,100 cumulative proton patients, treating over 100 patients on peak days and drawing cases from 32 Chinese provinces and more than 20 countries. International expansion advanced with a memorandum to co-build a cancer centre in Indonesia and cooperation talks spanning Uzbekistan, Bangladesh, Russia and Kazakhstan.

Management reiterated its three-pronged strategy of “Medical + AI + Overseas Expansion,” emphasising scaled proton therapy, commercial deployment of oncology AI platforms and development of Southeast Asian markets.