Yao Ming Biotech (02269) has strong interim results in 2026: revenue of 11.8 billion yuan, adjusted net profit to mother increased 38.4% year-on-year

According to Zhitong Finance App News, the 2026 interim report of Yao Ming Biotech (02269) shows that the company's performance in the first half of the year was impressive, revenue rose rapidly, and profits grew strongly. Revenue of 11.8 billion yuan, up 18.4% year on year (up 23.4% year on year in US dollars); adjusted gross profit margin of 5.7 billion yuan, adjusted gross profit margin of 48.4%, up 280 basis points year on year; adjusted net profit to mother was 3.3 billion yuan, up 38.4% year on year.

The company's CRDMO platform showed strong momentum, and the project funnel continued to expand. In the first half of the year, 169 new integrated projects were added, reaching a new high, bringing the total number of integrated projects to 1,064. Among them, 123 new endogenous comprehensive projects were added, an increase of 43% over the previous year. The merger and acquisition of Dongyao Pharmaceutical by Pharmaceuticals and Pharmaceutical Co., Ltd. obtained 46 comprehensive projects. More than 70% of the new projects and more than 50% of the total projects are complex molecule projects. Complex molecule projects account for more than 50% of revenue in the first half of 2026.

Among the company's three major CRDMO service businesses, the research business has enabled more than 50 active projects with the right to receive milestone payments and sales commissions; the development business supports 68 IND declarations in the first half of the year, and can support 300 IND applications every year from 2027; the production business ushered in centralized project transformation, supporting 78 clinical phase III projects and 28 commercial production projects, including 5 “winning molecules” projects transferred in the first half of the year. 34 PPQ projects have been scheduled in 2026, and 30 PPQ projects have been scheduled in 2027, maintaining a 100% PPQ project success rate so far.

Technological innovation is driving the accelerated growth of Pharmaceutical Biology. For example, WuxiATM TrueSite technology has been applied to more than 70 projects, enabling faster project development time, higher output, and lower cost. It has become an important differentiating advantage of the company's “winning molecules” strategy, and is particularly favored by biosimilar projects.

As of June 30, 2026, the total number of outstanding orders from Pharmaceutical Biotech reached US$25.1 billion. Uncompleted orders within 3 years were US$5.5 billion, an increase of about 30% over the previous year, and the prospects for revenue growth in the near future can be expected.