Joinn Laboratories (06127) announced its mid-year financial performance, with a net profit of 60.93 million yuan, turning losses into gains compared to the same period last year.

Joinn Laboratories (06127) announced its mid-year performance for 2025, with a revenue of approximately 669 million yuan, a year-on-year decrease of 21.3%; a gross profit of about 105 million yuan, a year-on-year decrease of 50.3%; and a net profit of 60.93 million yuan, a year-on-year turnaround from loss to profit, with an earnings per share of 0.08 yuan. The announcement stated that the decrease in revenue was mainly driven by the intensifying competition leading to a decline in project unit prices. The increase in net profit was mainly due to the fair value change in biological assets. The income generated from the fair value change in biological assets recognized during the period was 95 million yuan, while a loss of 254.4 million yuan was recorded in the six months ended June 30, 2024. The income generated in the six months ended June 30, 2025, was mainly due to the natural growth of biological assets, while the loss recorded in the six months ended June 30, 2024, was mainly due to the decrease in the unit fair value of biological assets, corresponding to the decrease in market price of the experimental models.