Haili Biology expects revenue of 188 million yuan in 2025, and the company's stock may be subject to delisting risk warning. [SOURCE] **DENTALGOODNEWS** (Leading Dental Industry Media, DGN) …

2025 Estimated Revenue of RMB 188 Million / Non-GAAP Net Profit Expected Loss of RMB 620 Million / Triggering the Red Line for Delisting Risk Warning

DentalGoodNews｜April 25, 2026, Shanghai Haili Biological Technology Co., Ltd. (hereinafter referred to as "Haili Biology") issued the "Third Risk Warning Announcement on the Possible Implementation of Delisting Risk Warning for the Company's Stock." According to preliminary calculations by the company's financial department, the company expects that its 2025 profit indicators will trigger relevant circumstances under the "Listing Rules," and its operating revenue will be less than RMB 300 million. After the annual report is disclosed, the company's stock may be subject to a delisting risk warning (with "*ST" added before the stock abbreviation).

Specific financial indicators show that Haili Biology's estimated operating revenue for the full year of 2025 is approximately RMB 187.8 million. After deducting revenue unrelated to the main business and revenue without commercial substance, the operating revenue is approximately RMB 187.7 million, below the regulatory standard of RMB 300 million. In terms of profit, the company expects a net loss attributable to shareholders of the parent company of approximately RMB 314 million, and a net loss attributable to shareholders of the parent company after deducting non-recurring gains and losses of approximately RMB 620 million.

This risk warning is the third such announcement issued by the company. Previously, Haili Biology disclosed two risk warnings on January 31, 2026, and April 18, 2026, respectively. If the company's audited data for 2025 triggers the relevant rules, the company's stock will be suspended from trading on the date of the annual report disclosure, and the Shanghai Stock Exchange will implement a delisting risk warning within five trading days based on the actual situation.

Against the backdrop of performance pressure, Haili Biology has been making frequent strategic moves in the dental field in recent years. According to a previous report by DENTALGOODNEWS (Leading Dental Industry Media, DGN), on April 15, 2026, Haili Biology announced the establishment of a second-tier subsidiary, Haili Oral Medicine Management Co., Ltd. (tentative), through its controlling subsidiary Ruisheng Biology, aiming to centrally manage seven Jinboli dental chain clinics located in Yangzhou and Changzhou.

However, the expansion of the dental business has not been able to offset the overall decline in performance in the short term. In December 2025, Haili Biology increased its shareholding ratio in the dental restoration materials company Ruisheng Biology from 55% to 96% through a debt-to-equity swap, further solidifying its layout in the field of oral regenerative medicine. Although its oral bone graft and membrane products experienced a phased recovery in November 2025, with a month-on-month unit price increase of 45%, the company's operating revenue scale still failed to break through the RMB 300 million mark.

Financial data shows that the company's estimated total profit for 2025 is approximately -RMB 187.4 million. There is a difference of approximately RMB 306 million in non-recurring gains and losses between the non-GAAP net profit loss (RMB 620 million) and the net profit attributable to shareholders of the parent company (RMB 314 million).

As of now, Haili Biology's 2025 annual report has not yet been officially disclosed. The company stated that the specific financial data is subject to the audited official report and reminded investors to be aware of investment risks.