Lepu Medical 2026Q3: Revenue RMB 1.413 Billion, Down 9.99% YoY; Net Profit Attributable to Shareholders of the Parent Company Down 38.58% YoY

Source: Lepu Medical 2026 Third Quarter Report

Net Profit Attributable to Shareholders of the Parent Company RMB 179 million / Operating Revenue Down 9.99% YoY / R&D Expenses Up RMB 124 million YoY

DentalGoodNews｜On October 23, Lepu Medical (300003.SZ) released its 2026 third-quarter report. In the third quarter, the company achieved operating revenue of RMB 1.413 billion, down 9.99% year-on-year; net profit attributable to shareholders of the listed company (hereinafter referred to as "Net Profit Attributable to Shareholders of the Parent Company") was RMB 179 million, down 38.58% year-on-year; Adjusted Net Income Attributable to Shareholders (Non-GAAP) was RMB 170 million, down 39.16% year-on-year.

In the first three quarters, the company achieved cumulative operating revenue of RMB 4.627 billion, down 6.32% year-on-year; Net Profit Attributable to Shareholders of the Parent Company was RMB 678 million, down 30.93% year-on-year; Non-GAAP Net Profit was RMB 650 million, down 30.88% year-on-year.

From a business segment perspective, in the first three quarters, the Medical Devices segment achieved operating revenue of RMB 2.495 billion, down 2.97% year-on-year. Among them, cardiovascular interventional business revenue was RMB 1.714 billion, down 4.42% year-on-year; surgical anesthesia business revenue was RMB 288 million, down 14.45% year-on-year; in vitro diagnostics business revenue was RMB 211 million, down 7.69% year-on-year. During the same period, pharmaceutical business revenue was RMB 1.321 billion, down 15.86% year-on-year; medical services and health management business revenue was RMB 810 million, up 1.70% year-on-year. In the third quarter, the formulation business achieved operating revenue of RMB 281 million, down 27.26% year-on-year. The company stated that this was mainly affected by the adjustment of channel prices for products renewed in the 1st to 8th batches of national centralized drug procurement, and the disturbance is expected to continue until the end of 2026.

The report also disclosed that during the reporting period, the company's convertible bonds matured and were redeemed at 107.80% of par value (including the final interest payment) as agreed. Among them, the premium portion exceeding the par value and the final coupon interest, amounting to RMB 98.2106 million, was recognized as an expense in the current period, with an impact on Net Profit Attributable to Shareholders of the Parent Company of RMB 83.479 million. The company stated that excluding the impact of this one-time expense, the Non-GAAP Net Profit for the first three quarters was RMB 734 million, down 22.01% year-on-year.

Source: Lepu Medical 2026 Third Quarter Report

The financial report shows that in the first three quarters, the one-time expense from the maturity redemption of convertible bonds increased by RMB 98.2106 million, and R&D expenses increased by RMB 124 million year-on-year, with the two combined increasing by RMB 222 million; during the same period, financial expenses were RMB 198 million, up 120.67% year-on-year, which the company stated was mainly related to interest expenses arising from the maturity redemption of convertible bonds. In terms of R&D investment, in the first three quarters, the company's R&D expenses were RMB 718 million, up 20.79% year-on-year, an increase of RMB 124 million compared with the same period last year. The company stated that this was mainly due to a year-on-year increase of RMB 148 million in R&D expenses for Innovative drugs at Shanghai Minwei Biotechnology.

As previously reported by DGN, Lepu Medical achieved operating revenue of RMB 3.214 billion in the first half of 2026, down 4.61% year-on-year; Net Profit Attributable to Shareholders of the Parent Company was RMB 499 million, down 27.71% year-on-year. The decline in operating revenue for the first three quarters widened to 6.32%, an increase of 1.71 percentage points compared with the first half of the year.