Hualan Biological Engineering (002007) H2 2025 earnings summary

Executive summary

• Revenue for 2025 reached ¥4.60 billion, up 4.93% year-over-year; net profit attributable to shareholders was ¥940 million, down 13.55% year-over-year.

• Blood products remained the core business, accounting for 73.71% of revenue; vaccine products contributed 26.01%.

• Cash dividend of ¥5 per 10 shares proposed, with a payout ratio of 97.16% of annual net profit.

• R&D investment increased to ¥338 million, focusing on new blood products, vaccines, and innovative biologics.

Financial highlights

• Operating income: ¥4.60 billion, up 4.93% year-over-year.

• Net profit attributable to shareholders: ¥940 million, down 13.55% year-over-year.

• Gross margin for blood products: 50.17%; for vaccines: 78.38%.

• Operating cash flow: ¥878 million, down 17.12% year-over-year.

• Total assets at year-end: ¥15.26 billion, down 6.42% from prior year.

• Basic and diluted EPS: ¥0.5151, down 13.54% year-over-year.

Outlook and guidance

• Plans to expand plasma collection capacity and apply for new plasma stations.

• Continued focus on R&D for innovative drugs, vaccines, and biologics, aiming to accelerate product launches.

• Intends to strengthen international market expansion for immunoglobulin and influenza vaccines.