Zhejiang Taimei Medical Technology (2576) investor relations material

Executive summary

• H1 revenue rose 8.0% YoY to RMB263.6m and gross margin expanded to 44.7% from 41.0%; IFRS net loss widened to RMB48.2m from RMB29.3m.

• Adjusted EBITDA loss narrowed 83.5% to RMB3.4m; adjusted net loss was RMB30.9m, or RMB2.0m excluding FX impact.

• Growth centered on AI Clinical Development Platforms, while AI-enabled CRO revenue and new contract value declined as lower-margin work was scaled down.

Financial highlights

• Gross profit rose 17.5% to RMB117.8m; operating loss widened to RMB62.4m from RMB48.7m.

• Net loss attributable to owners was RMB45.1m versus RMB22.8m; basic and diluted loss per share were RMB0.08 versus RMB0.04.

• Net other losses increased to RMB27.2m from RMB12.9m, including net FX losses of RMB28.9m versus RMB16.1m.

• Cost of sales rose 1.3% to RMB145.9m; selling, administrative and R&D expenses were RMB44.2m, RMB70.0m and RMB39.9m, respectively.

• Share-based payment expense rose to RMB17.3m from RMB0.6m, including RMB12.1m in administrative expenses.

Outlook and guidance

• H2 priorities: advance Wiz.AI iteration and commercialization, optimize AI-enabled CRO profitability, expand in Europe and the U.S., and develop clinical asset investments.

• First investment from the Innovative Drug Pipeline Equity Fund is expected in Q3 2026; more than 150 clinical assets have been assessed.