Yunnan Baiyao Group (000538) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached ¥11.60 billion, up 7.02% year-over-year, with net profit attributable to shareholders at ¥2.04 billion, a 5.31% increase year-over-year.

• Operating cash flow improved to ¥829 million, up from ¥714 million in the prior year period.

• Total assets grew to ¥56.46 billion, a 4.03% increase from year-end 2025.

Financial highlights

• Gross margin remained robust as operating costs rose in line with revenue growth.

• Basic and diluted EPS both increased to ¥1.14 from ¥1.08 year-over-year.

• Net profit excluding non-recurring items was ¥1.97 billion, up 4.12% year-over-year.

• Cash and cash equivalents at quarter-end stood at ¥8.64 billion.

Outlook and guidance

• Continued focus on investment in R&D and new product development, including clinical trials for INB301 injection.