Shenzhen Salubris Pharmaceuticals (002294) Q2 2026 earnings summary

Executive summary

• Achieved revenue of ¥2,479,135,760.18 in H1 2026, up 16.34% year-over-year; net profit attributable to shareholders reached ¥387,091,726.75, up 6.03% year-over-year.

• Innovative drug revenue grew 26.84% year-over-year, now nearly half of total revenue.

• R&D investment increased 14.38% year-over-year to ¥620 million, representing 25% of revenue.

• Operating cash flow improved by 9.62% year-over-year to ¥466,348,587.42.

• Major pipeline progress: new drug approvals, clinical trial advancements, and device launches.

Financial highlights

• Net profit excluding non-recurring items grew 15.64% year-over-year to ¥401,062,396.92.

• Gross margin for innovative drugs: 83.40%; overall gross margin for pharma: 75.48%.

• Basic and diluted EPS: ¥0.35, up from ¥0.33 year-over-year.

• Total assets at period end: ¥11,075,120,669.16; shareholders’ equity: ¥8,566,737,291.10.

• Weighted average ROE was 4.30%, up from 4.19% year-over-year.

Outlook and guidance

• Continued focus on CKM (cardio-renal-metabolic) chronic disease innovation.

• Multiple innovative drugs and devices expected to reach market in late 2026 and 2027.

• Ongoing expansion in retail and e-commerce channels, with new business models for chronic disease management.