Fujian Haixi Pharmaceuticals (2637) investor relations material

Executive summary

• H1 2026 revenue rose 3.85% YoY to RMB311.619m; net profit attributable to owners fell 24.82% to RMB81.049m, weighed by higher R&D and new-facility depreciation.

• The portfolio included 17 approved generics, 15 of which generated H1 revenue, and four in-house innovative candidates.

• C019199 entered Phase III osteosarcoma trials in China; HX9428 advanced in China and the U.S., receiving FDA Phase II approval and Fast Track Designation.

Financial highlights

• Revenue was RMB311.619m vs RMB300.08m; pharmaceutical product revenue was RMB311.067m vs RMB299.67m.

• Operating profit was RMB84.300m vs RMB122.859m; net profit attributable to owners was RMB81.049m vs RMB107.806m; basic EPS was RMB1.03 vs RMB1.60.

• Operating costs increased 39.02% to RMB56.462m as products transferred to in-house manufacturing and production lines ramped up.

• R&D expense rose 50.32% to RMB40.762m; finance expense increased to RMB11.759m from RMB2.793m, primarily due to period-end foreign-currency translation effects.

• Operating cash flow was RMB115.45m vs RMB80.56m; monetary funds reached RMB1,018.978m, up from RMB645.054m at year-end 2025.

Outlook and guidance

• C019199's China Phase III trial began in Q2 2026; enrollment completion is targeted for H2 2027, with U.S. Phase I/II start subject to FDA IND approval.

• HX9428's China Phase II nAMD trial is targeted for completion by end-2026; HXP089 Phase I/II GBM trials are planned for H2 2026, and HXP090 IND submission is scheduled for 2027.

• Several generic candidates are expected to receive marketing approvals in H2 2026 or 2027; Anfeiping and Jishuning VBP selection is expected to support 2026 results.

• Per-unit production costs are expected to decline as in-house capacity utilization improves; priorities include R&D, commercialization, production capacity, quality control and global partnerships.