Medtide Inc. released its 2026 interim results, reporting revenue of RMB 234.52 million, a 7.6% year-on-year decline caused largely by delayed deliveries that shifted portions of customer orders into the second half of 2026.
Gross profit fell 12.3% to RMB 135.97 million, pulling gross margin down to 58.0% from 61.1% a year earlier. Profit before tax dropped 45.6% to RMB 62.95 million, while net profit fell 47.4% to RMB 53.68 million. Management cited renminbi appreciation–linked foreign-exchange losses, reduced fair-value gains (non-recurring in 2026), and lower interim revenue as key profit headwinds.
By service line, Contract Development & Manufacturing Organisation (CDMO) revenue slid 14.7% to RMB 169.04 million, reflecting shipment timing delays, whereas Contract Research Organisation (CRO) revenue rose 17.8% to RMB 65.48 million on stronger demand from U.S., European and Chinese clients. Fee-for-service income decreased 10.0% to RMB 209.73 million, while full-time-equivalent billings increased 18.9% to RMB 24.79 million.
Operating metrics remained resilient: ongoing projects at period-end reached 1,740, up 18.9% from a year earlier, with more than 20 active metabolic-peptide programmes. Headcount expanded 14.6% to 596 employees. Research & development spend climbed 32.5% to RMB 16.76 million as the company advanced peptide and oligonucleotide technology platforms and regulatory dossiers.
Capital expenditures totalled RMB 98.90 million, directed mainly to capacity expansion at the Qiantang facility—now capable of multiple 100-kilogram peptide API batches—and the Rocklin, California site slated for completion by year-end 2026. Cash and cash equivalents stood at RMB 788.32 million, supplemented by RMB 227.00 million in time deposits; the gearing ratio remained low at 12.3%.
Management expects deferred orders to support a second-half rebound and reported that a sizeable overseas contract was secured in July 2026, bolstering backlog visibility. No interim dividend was declared.
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