Shenzhen Neptunus Bioengineering Co Ltd

ST Haiwang released its 2026 interim report, showing a first-half net loss of 204 million yuan, down 743.8% year on year. Operating revenue was 11.3 billion yuan, down 21.1% year on year. Net loss attributable to the parent after deducting non-recurring items was 208 million yuan, widening from the same period last year. Net operating cash flow was 35.61 million yuan, down 38.7% year on year. In the second quarter, net loss attributable to the parent was 218 million yuan, down 2,842.2% year on year. The company said that in response to policy adjustments in the pharmaceutical distribution industry, it proactively gave up some low-margin business and divested long-loss-making subsidiaries, concentrating resources on higher-margin businesses such as pharmaceutical manufacturing and medical devices.