Shanghai RAAS Blood Products (002252) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was ¥3.95 billion, down 7.06% year-over-year; net profit attributable to shareholders was ¥1.03 billion, down 17%.

• Cash flow from operations improved significantly to ¥739 million from a negative ¥47 million in H1 2024.

• Major acquisition of Nanyue Bio completed, expanding plasma resources and production capacity.

• Continued investment in R&D, with innovative drug SR604 entering Phase IIb clinical trials.

Financial highlights

• Operating income: ¥3.95 billion, -7.06% year-over-year.

• Net profit attributable to shareholders: ¥1.03 billion, -17% year-over-year.

• Operating cash flow: ¥739 million, a significant turnaround from the previous year.

• Basic and diluted EPS: ¥0.155, down 17.11% year-over-year.

• Gross margin for blood products: 37.74%.

Outlook and guidance

• Company expects continued stable demand for blood products, driven by clinical needs and demographic trends.

• Focus on expanding plasma collection and accelerating innovative drug development.

• No interim dividend, bonus shares, or capital increase from reserves planned.