Keen Dental Hospital 2026H1: Revenue of RMB 152 million, intraoral periodontal project revenue increased by 47.04% year-on-year.

Source: Keen Dental 2026 Semi-Annual Report

In the first half of 2026, operating revenue decreased by 11.39% year-on-year / Net profit attributable to shareholders of the listed company increased by 5094.43% year-on-year / Operating profit turned from loss to profit year-on-year

DentalGoodNews｜On August 26, 2026, Dezhou Keen Dental Hospital Co., Ltd (830938) released its 2026 semi-annual report. During the reporting period, the company achieved operating revenue of RMB 152 million, down 11.39% from the same period last year; net profit attributable to shareholders of the listed company reached RMB 3.6376 million, a substantial year-on-year increase of 5094.43%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 4.0444 million, up 817.40% year-on-year.

Source: Keen Dental 2026 Semi-Annual Report

Despite the contraction in revenue scale, Keen Dental's profitability has improved. In the first half of the year, operating profit reached RMB 3.9348 million, turning from a loss of RMB 1.0554 million in the same period last year to a profit. Overall gross margin increased to 43.37%, up 3.97 percentage points from 39.40% in the same period last year; net profit was RMB 3.8338 million, up 1948.69% year-on-year. The company noted in the report that the rebound in profitability during this period was mainly attributed to adjustments in cost management models and shifts in marketing strategies.

Source: Keen Dental 2026 Semi-Annual Report

By business segment, revenue from intraoral periodontal projects increased by 47.04% year-on-year to RMB 29.9469 million, with a gross margin of 44.50%, up 5.80 percentage points year-on-year. Revenue from prosthodontic projects declined by 38.56% year-on-year to RMB 29.3912 million. The company stated that in response to market competition, it adopted a price reduction strategy for this segment, resulting in a gross margin decrease of 17.58 percentage points year-on-year to 32.23%. Revenue from oral surgery and implant projects increased by 7.04% year-on-year to RMB 55.8865 million, with costs down 17.09% year-on-year, and gross margin rose to 53.88%, up 13.43 percentage points year-on-year, mainly benefiting from cost control and economies of scale.

Revenue from pediatric dentistry and orthodontic projects increased by 6.42% year-on-year to RMB 33.9843 million, with costs up 8.66% year-on-year, and gross margin declined to 33.86%, down 1.36 percentage points year-on-year. Revenue from material and equipment sales decreased by 85.81% year-on-year to RMB 2.7137 million, but due to a larger cost reduction (-93.19%), gross margin unexpectedly rose to 60.72%, up 42.53 percentage points year-on-year.

Overall, during the reporting period, the company's main business revenue decreased by 11.40% year-on-year, main business costs decreased by 17.38% year-on-year, and overall gross margin increased by 4.09 percentage points year-on-year to 43.49%, jointly influenced by price reductions in prosthodontic projects, cost control in oral surgery and implant projects, and a greater decline in material and equipment costs relative to revenue.

Source: Keen Dental 2026 Semi-Annual Report

In terms of human resources, as of the end of the reporting period, Keen Dental had a total of 861 employees, a decrease of 110 from the beginning of the period. The optimization of personnel structure and the elimination of low-efficiency positions were important factors supporting changes in administrative and selling expenses during this period. Based on first-half revenue of RMB 152 million and 861 employees, the company's per-capita efficiency for the first half was approximately RMB 176,500 per person.

Source: Keen Dental 2026 Semi-Annual Report

Cash flow performance improved. In the first half of 2026, net cash flow from operating activities was RMB 43.001 million, an increase of 197.24% from RMB -44.2212 million in the same period last year, mainly influenced by the company's implementation of inventory reduction strategies, strengthened management of current accounts, and adjustments to procurement settlement models.

In terms of capital operations, according to previous reports by DGN, Keen Dental's wholly-owned subsidiary Jinan Keen acquired 80% equity of Chenxing Medical held by Qingdao Keen for RMB 51.2 million. The transaction completed industrial and commercial registration changes in January 2026 and was consolidated into the financial statements. The goodwill formed from this acquisition amounted to RMB 39.681 million, bringing the company's total goodwill balance to RMB 118 million, accounting for 60.96% of net assets attributable to the parent company.