Tigermed released its 2026 interim report on August 28. First-half operating revenue was 3.71 billion yuan, up 14.1% year on year, but net profit attributable to the parent company was a loss of 413 million yuan, down 207.8% year on year. Second-quarter revenue was 1.91 billion yuan, up 13.0% year on year, while net profit attributable to the parent company was a loss of 462 million yuan, down 312.1% year on year. First-half net profit attributable to the parent company after deducting non-recurring items was 278 million yuan, up 31.8% year on year, and the second-quarter figure was 157 million yuan, up 45.1% year on year. As of the end of the second quarter, total assets were 27.893 billion yuan, down 1.6% from the end of the previous year, and net assets attributable to the parent company were 19.477 billion yuan, down 7.1% from the end of the previous year. The company said some small and medium-sized domestic clinical CROs have begun to scale back, industry competition is becoming more rational, supply-side optimisation is continuing, and the impact of some R&D pipelines not matching the industry's development stage has largely been cleared. The business development team has been deepening relationships with high-quality domestic clients and expanding business with large multinational pharmaceutical companies. During the reporting period, net new orders grew at an accelerating pace compared with the same period in 2025, and the average unit price of newly signed orders returned to growth. The company's market share in China's clinical outsourcing market was 10.9% in 2025, maintaining its industry-leading position.
TYK Medicines IncHangzhou Tigermed ConsultingFirst-half net loss of 413 million yuan, down 207.8% year on year, despite revenue growth.
