GIANT BIOGENE (02367) announced its interim results, with adjusted net profit of approximately 945.5 million yuan, a year-on-year decrease of 21.5%.

GIANT BIOGENE (02367) announced its interim results for 2026, with revenue of approximately 2.918 billion yuan, a year-on-year decrease of 6.3%; gross profit of approximately 2.318 billion yuan, down 8.8% year-on-year; profit attributable to equity shareholders of the company was about 940 million yuan, a decrease of 20.5% year-on-year; adjusted net profit was approximately 945.5 million yuan, down 21.5% year-on-year; basic earnings per share were 0.89 yuan. The announcement stated that the revenue decline was primarily due to a temporary sales structure adjustment in the professional skincare product segment, which the company implemented to focus on long-term operational quality and to strengthen channel and product competitiveness. With improvements in channel operational efficiency and optimization of channel structure, along with the growth of new products, the company's business is expected to return to a steady growth trajectory. Gross margin decreased from 81.7% for the six months ended June 30, 2025, to 79.5% for the six months ended June 30, 2026, mainly due to the continuous expansion of the company's product matrix, which has broadened to include more types of skincare products beyond dressings and essences, leading to structural fluctuations in overall gross margin. Moving forward, the company will continue to optimize its product portfolio to cover a broader user base, while driving the scale effects of new categories alongside revenue growth, enhancing overall resilience against risks and profitability.