Wandong Medical disclosed a performance forecast, expecting a net loss attributable to the parent of 82.5 million to 101 million yuan in the first half of 2026, compared with a profit of 51.3 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 93.01 million to 111 million yuan, versus a profit of 35.63 million yuan a year earlier. The company said the year-on-year decline in gross margin was mainly due to actively participating in volume-based procurement to trade price for volume, while the lengthening of procurement cycles at public hospitals led to delayed revenue recognition, healthcare payment reforms caused private hospitals to scale back procurement, core component costs remained high, and the cost-reduction effect from scale had yet to materialize. In addition, selling expenses increased due to volume-based procurement opportunities and internationalization strategy investments, research and development expenses were focused on core products such as 3.0T MR, mid-to-high-end CT, and DSA but have not yet generated returns, and financial expenses rose due to greater exchange losses from currency fluctuations. The company stated it is at a critical stage of strategic transformation, and the short-term profit pressure is a common industry phenomenon and a phased result of proactive adjustments. In the future, as volume-based procurement deliveries resume, the proportion of high-end products increases, overseas scale expands, and the localization of core components accelerates, profit quality is expected to steadily improve.
Beijing Wandong Medical Technology Co LtdPublic hospitals delayed procurement and private hospitals scaled back due to healthcare reforms, reducing demand.