Shanghai RAAS Blood Products Co Ltd Class A

Shanghai RAAS released its 2026 interim report, with net profit attributable to the parent company of 661 million yuan, a decrease of 35.80% compared with the same period last year. The company's total operating revenue was 3.209 billion yuan, down 18.79% year-on-year; net cash inflow from operating activities was 405 million yuan, down 45.20% year-on-year. The latest asset-liability ratio was 13.46%, gross margin was 35.09%, ROE was 2.04%, and diluted earnings per share was 0.10 yuan.

Shanghai RAAS achieved operating revenue of 3.209 billion yuan in the first half of 2026, down 18.79% year on year, while net profit attributable to the parent company was 661 million yuan, down 35.80% year on year. The blood products industry was broadly under pressure over the same period, with companies such as Pacific Shuanglin Bio-pharmacy, Boya Bio-pharmaceutical, and Weiguang Biological reporting declines of varying degrees, and China National Biotec Group expecting net profit attributable to the parent company to fall by more than 50% year on year. Shanghai RAAS carried goodwill of as much as 8.199 billion yuan on its books, including about 3 billion yuan of goodwill formed from the acquisition of a 100% stake in Nanyue Biopharmaceutical for 4.2 billion yuan in cash in March 2025. The company's self-developed, world-first hemophilia monoclonal antibody SR604 is still in the preparation stage for Phase III clinical trials and has not yet contributed commercial revenue. On August 25, Shanghai RAAS announced that chief financial officer Chen Leqi had resigned for personal reasons and would be succeeded by Jiang Lan, who has worked in the Haier system for more than twenty years.