BMC Medical released its 2026 interim report. During the reporting period, the company achieved operating revenue of 763 million yuan, up 40.30 percent year on year, but net profit attributable to the parent company was 127 million yuan, down 3.63 percent year on year, showing a pattern of rising revenue without rising profit. Non-GAAP net profit was 118 million yuan, up 19.18 percent year on year, and net operating cash flow was 132 million yuan, up 48.97 percent year on year. Home respiratory diagnosis and treatment products were the core revenue source, with revenue of 547 million yuan, up 56.73 percent year on year, and gross margin up 4.11 percentage points to 49.13 percent. Consumables revenue was 205 million yuan, up 15.27 percent year on year. Domestic market revenue was 306 million yuan, up 60.02 percent year on year, benefiting from the shift to direct sales through online channels. Overseas market revenue was 457 million yuan, up 29.61 percent year on year, but gross margin fell by 5.00 percentage points. Selling expenses reached 137 million yuan, a sharp increase of 141.24 percent year on year, mainly due to higher spending on brand promotion, platform traffic acquisition, and e-commerce operations, which eroded profit margins. Finance costs turned from negative to positive at 19.79 million yuan, and fair value changes recorded a loss of 17.5 million yuan, affected by exchange rate fluctuations. As a leading domestic manufacturer of non-invasive ventilators, the company faces risks including intensifying market competition and changes in US trade policy.
BMC Medical Co. Ltd. ANet profit fell 3.63% despite revenue growth, due to a 141.24% surge in selling expenses.
