Wuhan YZY Biopharma Co., Ltd. (YZYBIO-B) reported its unaudited results for the six months ended 30 June 2026. Revenue dipped 10.9% year-on-year to RMB33.14 million, yet gross profit surged to RMB25.26 million from RMB7.67 million on a lighter cost base.

Licensing fees from the CT Tianqing collaboration on core product M701 contributed RMB24.23 million, or 73.1% of total revenue, following achievement of a development milestone. R&D service income generated RMB8.92 million, representing 26.9%.

Operating expenses contracted markedly. Research and development spending fell 70.8% to RMB17.58 million, driven by lower third-party service fees and reduced raw-material usage. Administrative expenses were broadly stable at RMB13.41 million. Finance costs declined 12.7% to RMB2.08 million.

The company recorded a pre-tax and net loss of RMB6.26 million, versus a RMB58.83 million loss a year earlier. Net liabilities stood at RMB58.56 million at period-end, compared with RMB53.03 million as of 31 December 2025. Cash and cash equivalents fell to RMB75.99 million, mainly due to RMB26.63 million operating cash outflow and RMB5.16 million capital expenditure; outstanding bank borrowings rose to RMB138.62 million.

Pipeline highlights included National Medical Products Administration acceptance of the M701 new-drug application for malignant ascites and FDA clearance of an IND for malignant pleural effusion. Four clinical-stage and two pre-clinical assets remain in development.

The board declared no interim dividend.