Jinhai Medical Technology Limited (JINHAI MED TECH) released its unaudited interim results for the six months ended 30 June 2026, highlighting a sharp top-line expansion driven by medical products sales while reporting a markedly reduced loss.
Revenue and Profitability • Total revenue climbed to S$34.02 million, up 134.2% from S$14.53 million in 1H-2025. • Growth was led by Minimally Invasive Surgery Solutions & Medical Products, which quadrupled to S$25.43 million and now represents 74.8% of group revenue. • Manpower Outsourcing & Ancillary Services eased 1.2% to S$6.37 million, while Dormitory Services advanced 38.5% to S$1.91 million. • Gross profit rose to S$6.62 million (1H-2025: S$2.08 million); gross margin improved to 19.5% from 14.3%. • Operating loss before tax narrowed to S$2.99 million from S$10.72 million. After a higher tax charge of S$0.63 million, net loss attributable to shareholders was S$4.36 million versus S$10.25 million previously. Loss per share improved to S$0.08 Singapore cent from S$0.20 Singapore cent.
Cost and Expense Dynamics • Cost of sales grew in line with revenue to S$27.40 million. • Administrative expenses fell 20.3% to S$9.96 million, aided by a S$2.04 million decline in share-based payment charges. • Finance costs decreased 36.1% to S$0.22 million.
Balance Sheet and Liquidity • Total assets reached S$100.35 million (31 Dec 2025: S$88.83 million). • Cash, bank balances and time deposits totalled S$28.74 million, down from S$35.59 million, reflecting higher working-capital requirements and a S$10.52 million placement of funds into time deposits. • Net current assets stood at S$30.99 million; current ratio was 1.72x. • Total borrowings and lease liabilities declined slightly to S$14.21 million, bringing the gearing ratio to 25.5% (31 Dec 2025: 28.7%). • Net cash used in operations was S$8.02 million; free cash outflow totalled S$20.75 million after investing and financing activities.
Capital Actions and Equity Movements • The company raised HK$162 million (approximately S$26.64 million) via share placement in August 2025 and issued 9.00 million new shares from option exercises in May 2026, adding S$0.93 million in equity. • Share capital at 30 June 2026 was S$2.31 million; total equity rose to S$55.72 million from S$51.96 million at year-end 2025, aided by option exercises and a S$2.33 million non-controlling shareholder capital injection. • Outstanding share options totalled 445.96 million, representing 8.4% of issued shares; 9.00 million options were exercised during the period.
Operational Highlights • Jinhai Biomedical Technology (Shanghai) Co. Ltd. was incorporated in January 2026 to spearhead growth in China’s medical products market; its registered capital was increased to RMB25 million in February. • Management noted robust demand for minimally invasive surgery products in China, while Singapore’s manpower outsourcing segment softened amid shifting government investment priorities toward AI and away from infrastructure projects.
Capital Allocation and Commitments • The company placed S$2.85 million in prepayments for property, plant and equipment and increased time deposits by S$10.52 million. • No new property, plant and equipment purchases were recorded in 1H-2026 versus S$0.02 million a year earlier. • There were no material contingent liabilities, and investment properties with a carrying amount of S$18.23 million remain pledged against borrowings.
Dividends No interim dividend was declared for the period (1H-2025: nil).
Outlook Management anticipates continued momentum in Chinese medical product sales into 2H-2026, while closely monitoring cost controls and potential headwinds in Singapore’s outsourcing segment amid macroeconomic uncertainties.
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