LifeTech Scientific reported a revenue decline of 11.2% year-on-year to RMB 600.83 million for the six months ended 30 June 2026. Mainland China remained the largest market, delivering 69.6% of sales, though domestic revenue fell 16.6%; overseas sales grew 4.1% (8.2% in USD terms).

\n\nGross profit slipped 6.4% to RMB 465.90 million, but the gross profit margin widened to 77.5% from 73.6% a year earlier, aided by a richer product mix and lower pacemaker sales. Operating performance deteriorated: a RMB 64.39 million operating profit in H1 2025 swung to an RMB 11.26 million operating loss. Net loss attributable to shareholders reached RMB 34.35 million versus a RMB 55.07 million profit in the prior-year period, reflecting weaker revenue and a RMB 56.80 million swing in foreign-exchange results.

\n\nBy segment, structural heart disease sales dropped 26.3% to RMB 200.08 million, mainly on a 53.8% fall in left atrial appendage occluders. Peripheral vascular products edged up 2.3% to RMB 400.75 million, driven by higher stent-graft and vena cava filter sales. Cardiac pacing and electrophysiology recorded no revenue after contributing RMB 13.48 million in H1 2025.

\n\nCost controls were mixed. Selling and distribution expenses fell 29.0% to RMB 178.08 million, helped by lower share-based payments. Administration costs increased 24.3% to RMB 147.23 million, reflecting RMB 25.30 million of aborted acquisition expenses. R&D spending rose 15.5% to RMB 132.16 million as new product development accelerated.

\n\nAt 30 June 2026, total assets stood at RMB 4.75 billion, down 5.2% from year-end 2025, while total equity slipped 5.9% to RMB 3.27 billion. Cash and cash equivalents climbed 32.6% to RMB 953.77 million, lifting the current ratio to 2.45. Net gearing remained low at 0.2% following a new RMB 5 million short-term loan. Non-current liabilities increased to RMB 635.98 million, mainly due to the reclassification of RMB 576.78 million in preferred-share obligations at Biotyx Medical.

\n\nNon-recurring items for the period included RMB 0.81 million of fair-value losses on financial assets, RMB 123.06 million of share-based payment expenses (down from RMB 193.50 million a year earlier) and RMB 25.30 million of transaction costs related to a cancelled acquisition of Starway Medical.

\n\nCapital expenditure reached RMB 50.50 million, largely for equipment and product development. The R&D pipeline advanced, with multiple devices obtaining NMPA and CE MDR certifications. As at period-end, the Group held 1,370 registered patents and had 1,238 pending applications.

\n\nNo interim dividend was declared for H1 2026.