Mayinglong Pharmaceutical Group Co Ltd

Mayinglong released its 2026 interim report. Total operating revenue was 2.012 billion yuan, up 3.22% year on year, and net profit attributable to the parent company was 363 million yuan, up 5.65% year on year. Net cash inflow from operating activities was 430 million yuan, up 38.53% year on year. The company's asset-liability ratio was 20.61%, gross margin was 46.87%, return on equity was 8.17%, and diluted earnings per share was 0.84 yuan.

Mayinglong released its 2026 half-year report, with first-half net profit attributable to the parent at 363 million yuan, up 5.6% year on year. Operating revenue was 2.01 billion yuan, up 3.2% year on year. Net profit attributable to the parent after deducting non-recurring items was 342 million yuan, up 6.4% year on year. Net operating cash flow was 430 million yuan, up 38.5% year on year. Second-quarter net profit attributable to the parent was 150 million yuan, up 7.4% year on year. The company continued to focus on anorectal health, eye beauty and skin health, with sales of sanitary wet wipes growing more than 100% year on year.

China Baoan has disclosed its first-half 2026 earnings forecast, projecting a loss of approximately 19 million to 37 million yuan. The loss mainly stems from a significant year-on-year decline in gains and losses on trading financial assets held by subsidiaries, as well as investment income accounted for under the equity method. However, based on first-quarter 2026 data disclosed by its two major subsidiaries, BTR and Mayinglong, China Baoan's main business continues to maintain a steady growth trend. BTR achieved first-quarter revenue of 4.31 billion yuan, up 27.09 percent year-on-year, with net profit attributable to the parent of 161 million yuan. Its first-phase 80,000-tonne project in Indonesia has reached full production, the second phase has been successfully commissioned, and the overseas base in Morocco is steadily under construction. BTR has also achieved full coverage of all four major technology routes for silicon-based anodes. Mayinglong reported first-quarter revenue of 1.012 billion yuan and net profit attributable to the parent of 213 million yuan. Sales of its musk hemorrhoid ointment reached 200 million units in 2025, while hemorrhoid suppositories reached 332 million units. Its health business achieved full-year revenue growth of 30 percent and net profit growth of 25 percent in 2025, becoming a new growth engine.

Mayinglong's subsidiary Mayinglong Meikang received the Drug Registration Certificate for Azelastine Hydrochloride Eye Drops from the National Medical Products Administration on July 10, 2026. The drug, with a specification of 0.05% (6ml:3mg), was approved as a Category 4 chemical drug and is an over-the-counter product (Class A), primarily used to treat eye itching caused by allergic conjunctivitis. The company stated that this approval helps further enrich its ophthalmic product line, but the production and sales of the drug are subject to uncertainties from industry policies and market competition, and reminded investors to be aware of the risks.

The National Essential Drug List 2026 Edition officially took effect today, adding 48 varieties of Chinese patent medicines and bringing the total to 794. This is the first adjustment to the essential drug list since 2018. The expansion of Chinese patent medicines closely targets needs in common primary care diseases, chronic conditions of aging, pediatric care, and specialized therapeutic areas, while fully retaining mainstream blood-activating and stasis-removing injectables such as Danshen Injection and Xuesaitong, exceeding market expectations. Among the newly added varieties, exclusive products account for a large share, including over 20 exclusive varieties such as Yiling Pharmaceutical's Jieyu Chufan Capsules, Hansen Pharmaceutical's Simo Decoction Oral Liquid, Mayinglong's Babao Eye Ointment, and Panlong Pharmaceutical's Panlongqi Tablets. Multiple listed companies are optimistic about sales prospects after entering the essential drug list. A source at Mayinglong said Babao Eye Ointment generated over 28 million yuan in revenue in 2025, and after inclusion, primary healthcare institutions will be required to stock it. Panlong Pharmaceutical's core product Panlongqi Tablets will directly benefit from mandatory stocking requirements at secondary hospitals and above. Industry experts predict that newly included varieties will go through a process of tendering, hospital admission, and volume ramp-up, with incremental growth of at least 20 percent and possibly up to 50 percent, but will not have a significant impact on performance in the short term.

Mayinglong announced that two of its drugs have been newly included in the National Essential Medicines List (2026 Edition), namely Mayinglong Babao Eye Ointment and Tofacitinib. The list was recently released by the National Health Commission and other authorities. In the first quarter of 2026, Mayinglong achieved revenue of 1.012 billion yuan and net profit attributable to the parent company of 213 million yuan.