Jingtai Holdings (02228) expects revenue of 380 million yuan to 400 million yuan in the first half of the year, R&D expenses will increase by more than 50% year-on-year

According to Zhitong Finance App News, Jingtai Holdings (02228) issued an announcement. It is expected that the Group will obtain a net loss attributable to the Company's equity holders of approximately RMB 215 million to RMB 275 million in the six months ending June 30, 2026; while for the six months ending June 30, 2025 (same period last year), the net profit attributable to the Company's equity holders will be approximately RMB 82.8 million, or profit converted from profit to loss.

The main reasons for this change in performance are as follows:

(1) The Group expects to generate revenue of approximately RMB 380 million to RMB 400 million during the reporting period, compared with revenue of RMB 517 million for the same period last year.

The relevant decline during the reporting period was mainly due to the Group's confirmation of a down payment of US$51 million (equivalent to RMB 365 million) from a large-scale pipeline licensing project during the same period last year, which formed a high comparative base. The cooperation project progressed well during the reporting period. The Group has received the second payment of US$19 million (equivalent to RMB 129 million) as agreed under the final agreement, which has been confirmed as revenue for providing drug discovery solutions. Excluding the impact of this pipeline licensing project, the overall revenue for the reporting period is expected to be no less than RMB 250 million, an increase of more than 65% over the previous year. Among them, AI for Science's smart solutions business revenue is expected to be no less than RMB 180 million, an increase of more than 120% over the previous year. Mainly due to the rapid expansion of new customers driven by iterative technology upgrades and high-quality delivery, and the high repurchase rate of existing customers, robot laboratory solutions and intelligent services have maintained a rapid growth trend.

(2) The Group actively promotes research and development. It is expected that R&D expenses will not be less than RMB 340 million during the reporting period, an increase of more than 50% over the previous year, mainly due to the Group's continued increase in investment in independent laboratories and intelligent systems, as well as research pipelines and multi-modal technology platforms.

On the one hand, the Group is committed to building a complete closed loop AI independent research and development system driven by scientific intelligence (Scientific AI), physical AI (Physical AI), and Agentic System (Agentic System), and continues to promote the upgrading and iteration of related capabilities, and launch XtalPi Science, an open intelligent R&D platform for scientific research scenarios, which has led to an increase in investment in autonomous laboratories and intelligent systems.

On the other hand, the Group continues to increase investment in research pipelines and multi-modal technology platforms under the transition from service to asset strategy. In terms of drug research and development, the Group has built five major technology platforms for small molecules, macromolecules, molecular gels, peptides and small nucleic acids; the Group believes that it has long-term commercialization potential and is expected to contribute important value to the Group's future development.

The Board believes that this strategic investment will help strengthen the Group's R&D capabilities and contribute to the sustainability of its future revenue streams.