Numans Health Food Holdings (2530) H1 2026 earnings summary

Executive summary

• H1 2026 revenue fell 22.0% YoY to RMB72.7m as cross-border e-commerce DHA and regional distributor sales weakened; reported net profit rose to RMB48.9m, mainly reflecting securities disposal gains.

• Excluding investment gains and losses and related tax effects, profit was RMB5.2m, versus RMB2.1m in H1 2025.

Financial highlights

• Revenue was RMB72.7m vs RMB93.2m; gross profit was RMB46.5m vs RMB62.3m, and gross margin was 64.0% vs 66.8%.

• Profit before tax was RMB58.3m vs RMB12.4m; net profit was RMB48.9m vs RMB2.1m.

• Other gains, net, were RMB45.6m vs losses of RMB0.4m, including RMB68.0m disposal gains and RMB20.2m unrealised FVTPL losses; inventory write-downs and provisions totaled RMB2.4m.

• Basic and diluted EPS was RMB4.89 cents vs RMB0.22 cents; total comprehensive income was RMB35.2m vs a loss of RMB4.4m.

Outlook and guidance

• Medium-term priorities include broader product coverage across age groups and price tiers, marketing investment to strengthen brand awareness, and disciplined distribution-channel management.

• Rising health awareness and childcare-support policies, including nationwide childcare subsidies, were cited as longer-term nutritional-products demand supports; no numerical financial guidance was stated.