Sichuan Biokin Pharmaceutical Co (688506) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB 1.907bn, up 0.63% YoY; net income was RMB 932.3m, up 49.54%, while 9M net loss widened to RMB 704.9m.

• 9M R&D investment reached RMB 2.367bn, exceeding revenue; operating cash outflow was RMB 2.168bn.

Financial highlights

• 9M revenue was RMB 2.094bn, up 1.35% YoY; total operating costs reached RMB 2.832bn, including RMB 2.045bn in R&D expenses.

• 9M operating loss was RMB 575.0m and net loss RMB 704.9m, versus net loss of RMB 494.5m in 9M 2025; income tax expense fell to RMB 121.1m from RMB 308.9m.

• Q3 net income was RMB 932.3m and adjusted net income RMB 918.3m; the reported increase was attributed mainly to lower income tax expense.

• 9M non-recurring gains totaled RMB 65.6m, including RMB 65.2m in fair-value gains.

Key financial ratios and metrics

• 9M R&D investment rose 33.54% YoY to RMB 2.367bn; R&D was 113.03% of revenue, up 27.24 percentage points.

• Q3 basic and diluted EPS were both RMB 2.26, up 45.81%; 9M basic and diluted EPS were both negative RMB 1.71 versus negative RMB 1.23.

• Weighted average ROE was 18.44% for Q3, up 3.59 percentage points; the 9M figure was negative 11.66%, down 1.93 percentage points.