Pharmesis International (BFK) H1 2026 earnings summary

Executive summary

• H1 2026 revenue fell 56.4% YoY to RMB11.9m amid weaker product sales, market competition and pricing pressure; net loss widened to RMB4.4m from RMB1.4m.

• Operating cash flow turned positive at RMB1.3m, and cash rose to RMB5.3m at 30 June 2026 from RMB4.3m at year-end 2025.

Financial highlights

• Revenue was RMB11.865m, down 56.4% YoY; gross profit fell 61.0% to RMB4.028m.

• Gross margin declined to 34.0% from 38.0% in H1 2025, mainly due to lower margin on ATT products.

• Operating loss widened to RMB4.065m from RMB1.039m; net loss was RMB4.360m versus RMB1.372m.

• Other income rose to RMB1.167m from RMB0.670m, mainly on higher rental income and government grants; selling and distribution costs fell to RMB2.963m.

• Basic and diluted loss per share was RMB13.8 cents, versus RMB4.3 cents in H1 2025.

Outlook and guidance

• Management expects a challenging year ahead and plans a cautious operating approach, prioritizing sales growth and stringent cost management.

• The focus remains on revenue growth, margin improvement and prudent capital expenditure to support sustainable cash generation.