Hainan Haiyao hit limit down at the open on July 7, trading at 5.79 yuan per share with a market cap of 7.512 billion yuan. The company issued an unusual movement announcement on the evening of July 6, stating that its 2025 net profit was negative 430 million yuan, and its first-quarter 2026 net profit was negative 76.4521 million yuan, with shareholders' equity attributable to the listed company at just 4.4474 million yuan at the end of the first quarter. The company said that, based on preliminary estimates, the half-year performance loss is expected to result in negative net assets. The company is currently advancing two innovative drugs, fluorofenidone and paienjiabin, with paienjiabin's Phase IIb trial progressing as planned and fluorofenidone's Phase III trial having begun related preparatory clinical work.
Hainan Haiyao Co LtdHalf-year loss expected to push net assets negative, triggering limit down.