Haohai Biological reports revenue decline, stable gross profit in H1 2025

For the six months ended 30 June 2025, Shanghai Haohai Biological Technology recorded revenue of RMB1,292.64 million, a 7.48% decrease from RMB1,397.11 million in the same period of 2024. Profit attributable to ordinary equity holders was RMB211.07 million, down 10.29% from RMB235.28 million in 2024, primarily due to reduced operating revenue. Basic earnings per share decreased to RMB0.91 from RMB1.01 in the prior year, with an interim dividend of RMB0.40 per share declared.

R&D expenses fell by 21.53% to RMB98.40 million, representing 7.61% of revenue, as core projects moved into later clinical or registration stages. Gross profit margin remained stable at 70.11%. The company’s medical aesthetics and wound care products segment saw revenue decline by 9.27% to RMB573.27 million, while ophthalmology products decreased by 18.57% to RMB366.15 million, partly due to VAT rate adjustments and centralized procurement impacts. Conversely, anti-adhesion and hemostasis products surged by 59.68% to RMB109.98 million, driven by the inclusion of "Kangrui Gel" in Shanghai's medical device catalog.