CSPC Innovation Pharmaceutical Co., Ltd. (a subsidiary of CSPC PHARMA) reported unaudited results for the three months ended 31 March 2026, prepared under China Accounting Standards for Business Enterprises.
Revenue and Profitability • Revenue rose 40.82% year-on-year to RMB 664.65 million, driven by higher sales of functional ingredients and biopharmaceutical products and the recognition of a USD 10 million milestone from the out-licensing of SYS6002. • Net loss attributable to shareholders expanded to RMB 93.85 million from RMB 26.90 million a year earlier. After excluding non-recurring items, the loss reached RMB 111.07 million. • Diluted loss per share widened to RMB 0.0674 from RMB 0.0192. • Contributing factors included a 13.64% rise in R&D expenses to RMB 273.28 million, foreign-exchange losses that lifted finance costs to RMB 20.79 million (versus a gain of RMB 14.54 million in Q1 2025), and a broader consolidation scope following the increase in Megalith Biopharma’s shareholding from 51% to 80%.
Margins and Expenses • Operating costs increased 37.95% to RMB 391.17 million, broadly in line with revenue growth. • Administrative expenses grew 56.88% to RMB 29.78 million, reflecting higher personnel costs and depreciation from newly capitalised assets. • Other gains surged to RMB 19.86 million, mainly from additional government grants.
Cash Flow and Balance Sheet • Operating activities consumed RMB 179.52 million in cash, more than double the outflow a year earlier, owing to larger payments for raw materials and R&D services. • Investing outflows totalled RMB 70.93 million, compared with an inflow of RMB 361.11 million in Q1 2025, due to reduced purchases of bank structured deposits. • Financing inflows fell 32.23% to RMB 110.47 million as financial assistance from the controlling shareholder decreased. • Total assets stood at RMB 6.21 billion, down 1.06% from year-end 2025; equity attributable to shareholders slipped 3.39% to RMB 2.58 billion. • Trade receivables rose 35.40% to RMB 597.58 million, mirroring the revenue increase.
Key Ratios • Weighted average return on net assets deteriorated to –3.58% from –0.72% in the prior-year quarter.
Cautionary Note The disclosed figures are unaudited and relate solely to CSPC Innovation. Shareholders and prospective investors of CSPC PHARMA should exercise caution when interpreting the data.
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