JD Health International Inc. (JD Health) reported solid interim results for the six months ended 30 June 2026, underpinned by double-digit top-line growth and improving profitability.

Financial Highlights • Revenue rose 15.9% year-on-year to RMB 40.90 billion, driven by robust demand across pharmaceutical retail and healthcare services. • Product revenue climbed 15.6% to RMB 33.90 billion, while service revenue from marketplace, advertising and other services advanced 17.2% to RMB 7.00 billion. • Gross profit increased 20.4% to RMB 10.70 billion; gross margin improved to 26.1% from 25.2%. • Profit for the period grew 32.6% to RMB 3.44 billion. • Non-IFRS operating income surged 40.3% to RMB 3.50 billion, lifting the non-IFRS operating margin to 8.5% (1H25: 7.0%).

Operational Developments • Retail Pharmacy: Introduced 65 new drugs and deepened collaborations with Novo Nordisk, Innovent Biologics, CR Sanjiu and Organon. Expanded “Gold Select” health supplement line with 50+ partner brands; over 100 products exceeded RMB 1 million in sales during the JD 618 promotion. • On-Demand & Omnichannel: Medical insurance payment coverage extended to 40 Chinese cities; offline JD Pharmacy network reached 450 stores. • Healthcare Services: Rolled out AI-powered diagnostic tools and “JD Zhiyi” doctor assistant; opened first integrated healthcare center in Beijing combining physical exams, dental and aesthetics. • Digital Health: Upgraded in-app AI agent “Dr. Da Wei” with long-term health record functionality; JOY DOC solution deployed in multiple hospitals for out-of-hospital management.

Cost & Expense Trends • Cost of revenue rose 14.4% to RMB 30.20 billion, below revenue growth, supporting margin expansion. • Fulfillment, selling & marketing and G&A expenses grew more slowly than revenue, with selling & marketing ratio down to 4.6% (1H25: 5.1%). • R&D spending increased 23.5% to RMB 909.10 million, reflecting continued investment in AI and digital health capabilities.

Cash Flow & Balance Sheet • Operating cash inflow reached RMB 4.46 billion. • Total cash resources (cash, term deposits, restricted cash and wealth-management products) stood at RMB 71.50 billion. • The Group remains debt-free; gearing ratio is nil.

Capital Management • Repurchased 21.54 million shares for HKD 840.28 million (RMB 732.53 million) during the period; all repurchased shares were subsequently cancelled. • No interim dividend declared.

Outlook Management reiterated its focus on strengthening end-to-end pharmaceutical supply chain capabilities, accelerating AI deployment across consultation, diagnosis and pharmacy services, and deepening partnerships to sustain growth and profitability over the long term.