Giant Biogene Holding Co., Ltd. released its unaudited interim results for the six months ended 30 June 2026, recording a year-on-year revenue decline of 6.3 % to RMB 2.92 billion and a 20.5 % drop in net profit to RMB 0.94 billion.
Gross profit fell 8.8 % to RMB 2.32 billion, and gross margin narrowed to 79.5 % from 81.7 % a year earlier, reflecting a broader product mix and higher costs. Profit before tax decreased 24.2 % to RMB 1.09 billion.
Management attributed the weaker top line to “phased sales restructuring” within the professional skin-treatment segment, which remains the core contributor to revenue. Functional skincare sales slipped to RMB 2.30 billion (78.8 % of total) while medical devices generated RMB 0.61 billion (20.9 %). Functional foods and other items were flat at RMB 7.30 million.
Direct-to-consumer and other direct sales channels delivered RMB 2.23 billion, representing 76.6 % of group revenue; sales via distributors accounted for 23.4 % at RMB 0.68 billion. Within direct sales, DTC online stores contributed RMB 1.78 billion, down 2.2 % due to lower influencer-led livestreaming turnover, partly offset by self-operated online growth.
Selling and distribution expenses rose 19.7 % to RMB 1.27 billion, driven by higher brand-building and new-product launch costs, while R&D expenditure increased 10.5 % to RMB 45.52 million, or 1.6 % of revenue. Administrative expenses eased 3.3 % to RMB 79.91 million.
Total assets stood at RMB 10.24 billion at end-June, down 5.5 % from December 2025, as cash and cash equivalents fell 23.1 % to RMB 4.85 billion, reflecting a RMB 1.33 billion net cash outflow, including RMB 1.29 billion in dividend payments and RMB 0.12 billion spent on share buy-backs. Total equity slipped 5.6 % to RMB 9.37 billion.
The board did not declare an interim dividend. Giant Biogene continues to prioritize R&D, with over 140 ongoing projects and 233 patents filed or granted as of 30 June 2026. The company reiterated its full-year focus on accelerating Class III medical device industrialization, strengthening brand portfolios, and expanding both online and offline channels.
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