Beijing Wantai Biological Pharmacy Enterprise Co. (603392) Q3 2026 earnings summary

Executive summary

• Q3 revenue RMB 574.1m, down 12.33% YoY; attributable net loss RMB 102.5m and adjusted net loss RMB 117.2m.

• 9M revenue RMB 1.623bn, up 8.29% YoY; attributable net loss RMB 230.8m, versus net income of RMB 173.4m a year earlier.

Financial highlights

• 9M operating costs totaled RMB 1.821bn, including RMB 593.8m cost of sales, RMB 499.2m selling expense and RMB 409.0m R&D expense.

• 9M operating loss was RMB 228.2m and total loss before tax was RMB 236.5m; net loss was RMB 231.9m.

• 9M reported net loss attributable to shareholders was RMB 230.8m; excluding non-recurring items, the loss was RMB 286.1m.

• 9M other income was RMB 21.9m, investment income RMB 44.7m and fair-value gains RMB 13.5m.

Segment performance

• Nine-valent HPV vaccine revenue increased in 9M, supporting higher overall gross profit and narrowing the year-on-year adjusted net loss, according to the stated explanation.