JOINN Laboratories turns profit in H1 2025 despite revenue drop

JOINN Laboratories (China) Co., Ltd. recorded revenue of 668.6 million yuan for the six months ended June 30, 2025, a 21.3% decrease from 849.4 million yuan in the same period of 2024. This was primarily due to intensified competition and reduced project unit prices. However, the company successfully transitioned from a loss of 172.2 million yuan in H1 2024 to a net profit of 60.9 million yuan attributable to equity shareholders in H1 2025. Gross profit for the period was 105.0 million yuan, with a gross profit margin of 15.7%.

The profit turnaround was significantly influenced by a gain of 95.0 million yuan arising from changes in the fair value of biological assets, compared to a loss of 254.4 million yuan in the prior year. New project signings reached 1.02 billion yuan, a 13.3% year-on-year increase, reflecting growth in antibody projects (up 20%) and small nucleic acid and integrated ADC projects (up over 50%). The company’s total assets stood at 9,473.462 million yuan, with equity attributable to shareholders at 8,104.696 million yuan. No interim dividend was recommended for the period.