Edding Genor Group Holdings (Edding Genor, 06998) reported revenue of RMB 872.73 million for the six months ended 30 June 2026, down 23.1% year-on-year following reduced sales of flagship antibiotic Vancocin amid China’s volume-based procurement impact.

Net loss reached RMB 65.88 million versus a profit of RMB 114.57 million a year earlier, as R&D spending jumped 48.2% to RMB 107.74 million and other expenses surged on a RMB 44.81 million impairment of the Jing Zhu Da commercialisation right. Adjusted EBITDA, however, remained positive at RMB 204.76 million (H1 2025: RMB 432.60 million).

Gross profit fell to RMB 578.09 million, yet gross margin stayed resilient at 66.2% (H1 2025: 66.9%), supported by stable contribution from Ceclor and growing sales of innovative therapies Vascepa and recently launched CDK4/6 inhibitor Rujianing.

Operating cash inflow totalled RMB 337.36 million, underpinning a cash and cash equivalents balance of RMB 913.00 million as at 30 June 2026. Net current assets turned positive at RMB 4.68 million, aided by a RMB 317.0 million cut in bank borrowings; the gearing ratio fell to 34.7% from 41.7% at year-end 2025.

R&D pipeline momentum included Phase Ib/II approval for trispecific antibody GB268 in breast cancer and initiation of Phase II trials for siRNA therapy EDP167 in homozygous familial hypercholesterolaemia. Post period-end, Edding Genor received USD 48.42 million from UCB’s acquisition of Candid, the overseas licensee of bispecific antibody GB261; up to USD 443 million in future milestones and tiered royalties remain possible.

Management expects key data read-outs for GB268 at ESMO in October 2026 and Rujianing at SABCS in December 2026, while emphasising continued focus on oncology, autoimmune and cardiometabolic franchises and disciplined cost control.