Hangzhou Jiuyuan Genetic Biopharmaceutical Co., Ltd. (Jiuyuan Gene) released its unaudited interim figures for the six months ended 30 June 2026, reporting revenue of RMB631.0 million, down 1.2% year on year, while net profit attributable to shareholders rose 1.2% to RMB91.3 million. Basic earnings per share reached RMB0.38 versus RMB0.37 a year earlier.

Gross profit slipped 2.5% to RMB511.94 million, producing a gross margin of 81.1% (1H 2025: 82.2%). The net margin edged up to 14.5% from 14.1%, aided by lower selling and administrative expenses, which fell 8.8% and 17.5% respectively.

R&D expenditure expanded 39.7% to RMB69.30 million as the company advanced multiple clinical and pre-clinical assets, including the amylin analog JY54 (Phase I), long-acting amylin analog JY54-2 (IND in 2H 2026) and long-acting FGF21 agonist JY57 (IND in 4Q 2026). Jiuyuan Gene also filed marketing applications for semaglutide biosimilar Jikeqin® and multipotent biological bone product JY23.

Cash and cash equivalents stood at RMB331.38 million, supplemented by RMB300.22 million in time deposits. Interest-bearing bank borrowings totalled RMB132.39 million, leaving a gearing ratio of 21.7% (FY 2025: 22.2%). Net operating cash inflow reached RMB107.32 million, offset by RMB105.04 million of investing outflows, primarily for fixed-asset purchases and R&D-related intangible additions.

During the period, Jiuyuan Gene repurchased 4.76 million H-shares for HKD45.52 million (approximately RMB40.58 million), which are held as treasury shares. A further 0.81 million H-shares were repurchased in July 2026 for HKD4.76 million.

The board declared no interim dividend. A final dividend of RMB0.057 per share for FY 2025, amounting to RMB13.77 million, was paid during the first half.

Post-period, shareholders approved reallocating about RMB118.68 million of unutilised IPO proceeds, directing RMB95.47 million to the development of JY57 and JY54 and RMB23.22 million to production-line upgrades. The company also amended its articles to expand its business scope to include sales of pre-packaged food products to complement future metabolic-disease therapies.

Management reiterated a strategic focus on innovation, channel penetration and cost control for 2H 2026, targeting continued pipeline progress, broader hospital coverage and accelerated export of core products to Southeast Asia, Latin America and North America.