UNI MEDICAL posts resilient H1 2026 earnings: profit edges higher amid revenue contraction

Genertec Universal Medical Group Company Limited (UNI MEDICAL) reported interim results for the six months ended 30 June 2026.

Revenue declined 6.30% year-on-year to RMB 7.10 billion, mainly due to lower contributions from both healthcare (-7.0%) and finance (-12.5%) segments. Despite the top-line contraction, profit for the period inched up 0.80% to RMB 1.35 billion, while profit attributable to shareholders rose 2.80% to RMB 1.26 billion. Basic earnings per share came in at RMB 0.63.

Return on equity was 12.87% and return on total assets 3.14%. Total assets expanded 3.10% to RMB 86.92 billion, driven by a 2.10% rise in loans and accounts receivables to RMB 71.50 billion. Equity attributable to owners increased 3.50% to RMB 19.96 billion.

Segment performance • Healthcare revenue fell to RMB 4.62 billion; profit before tax slipped 14.6% to RMB 0.29 billion as industry reforms and higher depreciation and labour costs weighed on margins. • Finance revenue dropped to RMB 2.50 billion; profit before tax improved 3.8% to RMB 1.46 billion, supported by tighter cost control and a wider net interest spread of 3.85%. Net interest-earning assets reached RMB 71.06 billion; the non-performing asset ratio stood at 1.01% with a provision coverage of 339.32%.

Balance sheet and liquidity Interest-bearing bank and other borrowings rose 2.50% to RMB 49.46 billion, representing 80.9% of total liabilities. Debt ratio was largely stable at 70.34%, and gearing ratio at 1.92. Cash and cash equivalents increased 17.40% to RMB 2.47 billion, while net operating cash inflow fell sharply to RMB 0.28 billion (H1 2025: RMB 2.48 billion) due to higher lease disbursements and lower early repayments.

Capital expenditure reached RMB 394.44 million, mainly for medical equipment upgrades and hospital infrastructure projects. Commitments outstanding at period-end included RMB 222.81 million of contracted capital expenditure and RMB 1.64 billion of undrawn lease facilities.

Dividend The Board did not declare an interim dividend.

Management reiterated its focus on optimising the finance portfolio, enhancing integrated healthcare efficiency, and expanding health-technology and specialised medical services to underpin growth in the second half of the year.