Hong Kong – 20 Aug 2026 – Hua Medicine (02552.HK, “Hua Medicine”) reported a strong top-line performance for the six months ended 30 June 2026, driven by rapid uptake of its core diabetes drug HuaTangNing (华堂宁®).
Key Operational Highlights • Sales of HuaTangNing reached 3.06 million packs, up 73.2% year-on-year. • The drug maintained National Reimbursement Drug List pricing for 2026-27, underpinning volume gains. • Commercial team headcount nearly doubled to 187 product representatives and 75 marketing/medical staff. • Hong Kong and Macao granted marketing approvals for dorzagliatin (MYHOMSIS®/華領片®). • China’s National Intellectual Property Administration granted a five-year patent term extension for dorzagliatin to April 2034. • A 2,024-patient real-world study (HMM0601) confirmed dorzagliatin’s efficacy and safety across diverse T2D populations; combination-therapy preclinical data showed metabolic benefits. • Phase Ib multiple-ascending-dose study of second-generation GKA (HM1005) in the U.S. is on track, with topline data expected H2 2026.
Financial Performance (H1 2026 vs. H1 2025) • Revenue: RMB 378.90 million, +74.2%. • Gross profit: RMB 234.30 million, +98.6%; gross margin expanded to 61.8% (+7.6 ppt). • Selling expenses: RMB 126.89 million, +97.7%; selling-expense-to-sales ratio at 33.5% (H1 2025: 29.5%). • R&D expenses: RMB 66.82 million, +1.5%; continued investment in second-generation GKA and post-marketing studies. • Administrative expenses: RMB 67.28 million, +26.7%. • Other income dropped to RMB 6.53 million (H1 2025: RMB 1.25 billion) due to the prior-year one-off Bayer contract termination gain. • Loss before tax: RMB 30.20 million (H1 2025 profit: RMB 1.18 billion). Adjusting for the 2025 one-off gain, the loss narrowed by RMB 29.40 million.
Balance Sheet & Cash Flow • Cash and bank balances: RMB 1.07 billion (31 Dec 2025: RMB 1.09 billion). • Operating cash outflow: RMB 62.79 million (H1 2025: RMB 84.41 million). • Net current assets: RMB 944.24 million; current ratio of 3.3. • Borrowings: RMB 313.30 million (31 Dec 2025: RMB 251.17 million); gearing ratio rose to 35.7% (+5.7 ppt).
Strategic Outlook Management targets sustained sales momentum for HuaTangNing in mainland China, broader regional expansion following Hong Kong and Macao launches, and partnership opportunities for HM1005 in global markets. The company reiterated expectations to achieve profitability in 2027.
Dividend No interim dividend was declared.
Governance & Compliance Hua Medicine reported full compliance with Hong Kong’s Corporate Governance Code during the period, except for the composition of the nomination committee, rectified with new director appointments on 25 June 2026.