Zhejiang Taimei Medical Technology (2576) H2 2025 earnings summary

Executive summary

• New bookings rose 36.3% YoY to RMB697.5m, while revenue declined 7.0% to RMB512.5m as operations prioritized margin-accretive business and larger, multi-year enterprise contracts.

• Net loss narrowed to RMB50.7m from RMB217.4m; gross margin improved 1.6 percentage points to 42.4%.

Financial highlights

• Revenue was RMB512.5m, down 7.0% YoY; gross profit was RMB217.5m, down 3.3%, and gross margin rose to 42.4% from 40.8%.

• Operating loss narrowed to RMB85.5m from RMB252.5m; net loss narrowed to RMB50.7m from RMB217.4m.

• Basic and diluted loss per share improved to RMB0.08 from RMB0.39.

• Adjusted net loss, excluding share-based payments and listing expenses, was RMB49.5m versus RMB57.3m; adjusted EBITDA loss was RMB34.3m versus RMB42.3m.

Outlook and guidance

• Planned 2026 Wiz.AI rollout will broaden AI agents across study design, data analytics, project and document management, medical review, and safety workflows.

• 2026 priorities include global multi-center trial solutions and tailored overseas commercialization, with a higher international revenue contribution targeted over the medium to long term.

• Progressive, phased investment in selected early-stage clinical assets is planned through the Clinical Asset Development Fund in 2026, with emphasis on Phase I and II development and prudent risk management.