HANGZHOU TIGERMED CONSULTING (300347) investor relations material

Executive summary

• Revenue for H1 2026 reached ¥3.71 billion, up 14.06% year-over-year, with net profit attributable to shareholders at -¥413 million due to significant non-recurring losses, while adjusted net profit (excluding non-recurring items) rose 31.78% to ¥278 million.

• Main business segments, especially clinical trial technical services, rebounded with 20.68% growth; overseas clinical CRO business and profits continued to grow rapidly, particularly in Australia and New Zealand.

• The company maintained its leading position in China's clinical outsourcing market with a 10.9% share in 2025 and is the only Chinese provider in the global top ten.

• AI and digitalization initiatives accelerated, with proprietary AI tools improving operational efficiency and quality across clinical research processes.

Financial highlights

• Operating revenue: ¥3.71 billion, up 14.06% year-over-year.

• Net profit attributable to shareholders: -¥413 million (down from ¥383 million profit last year), mainly due to large non-recurring losses on financial assets.

• Adjusted net profit (excluding non-recurring items): ¥278 million, up 31.78% year-over-year.

• Operating cash flow: ¥426 million, up 4.20% year-over-year.

• Gross margin declined to 26.6% from 29.4% due to lower margins in clinical trial technical services.

Outlook and guidance

• Management expects continued improvement in domestic clinical operations and sustained growth in overseas business, especially in early clinical research and new markets.

• Ongoing investment in AI, digitalization, and global expansion is expected to drive long-term competitiveness and market share.