AK Medical reported interim results for the six months ended 30 June 2026, highlighting double-digit top-line growth and a sharp improvement in profitability.

Revenue and Profitability • Group revenue rose 10.20% year on year to RMB764.73 million. • Net profit advanced 22.50% to RMB196.72 million, while basic earnings per share increased to RMB0.1768 from RMB0.1439. • Gross profit expanded 18.80% to RMB487.44 million; gross margin climbed 4.6 percentage points to 63.7%, helped by a richer mix of higher-margin overseas sales and digital orthopedics products.

Business Mix Highlights • Hip implants generated RMB423.93 million, up 3.5%. • Knee implants delivered RMB229.79 million, up 18.2%, lifted by unicondylar volume growth. • Spinal and trauma implants fell 22.2% to RMB39.49 million amid VBP-related pressure. • Digital orthopedics products and intelligent equipment surged 142.6% to RMB44.70 million, reflecting 11 surgical robot installations in the period. • “Others” contributed RMB26.81 million, up 28.2%.

Geographic Performance • Domestic sales grew 3.0% to RMB583.12 million. • Overseas revenue jumped 41.7% to RMB181.61 million, marking a fifth consecutive half-year of 20%+ overseas expansion and benefitting from synergies with UK subsidiary JRI Orthopaedics.

Financial Position • Cash and cash equivalents stood at RMB1.08 billion; total liquid funds (including time and pledged deposits plus structured deposits) reached RMB1.25 billion. • Net current assets totalled RMB1.87 billion. • Gearing remained low at 0.2%. • Capital expenditure amounted to RMB49.18 million. • The company repurchased 47.82 million shares for HK$264.07 million during the period; 32.26 million shares were held as treasury shares at period-end.

Research & Development • Class III implants, the K3+ total joint surgical robot and AI-enhanced iCOS digital orthopedics platform progressed through approvals, reinforcing the Group’s innovation pipeline. • First-half R&D spend increased 9.3% to RMB72.90 million, with 43 new national patents granted.

Outlook Management expects continued momentum from digital orthopedics and international markets, citing improving reimbursement policies and pricing stability post-VBP. The company will maintain investment in robotics, AI-driven platforms and overseas channel expansion while targeting sustained profit growth.