JXR (01951) releases its interim financial results, with a shareholder net loss of 1.04 billion yuan, a change from profit to loss year-on-year.

JXR (01951) released its performance for the six months ending on June 30, 2025, with a revenue of 1.289 billion yuan (RMB, the same below), a decrease of 10.75% year-on-year; net loss attributable to shareholders was 1.04 billion yuan, compared to a net profit attributable to shareholders of 190 million yuan in the same period last year, resulting in a profit-turning loss; basic loss per share was 0.39 yuan. The announcement stated that the main reasons for the decrease in revenue were: (a) a decrease of about 8.3% in OPU cycles, an increase of about 10.04% in the proportion of IUI patients among ARS patients (who usually spend 80% to 85% less than IVF patients), and a 7% to 8% decrease in average single-cycle prices after national medical security adjustments, leading to a decrease in ARS revenue; (b) a decrease of about 24% in traditional delivery volume due to lower fertility willingness in China, resulting in a decrease in obstetrics and related revenue; and (c) the group expanded into new departments and new businesses, leading to an increase in revenue in these areas. It is reported that the number of OPU cycles in Chengdu decreased by 6.1% from 7,571 in the six months ending on June 30, 2024 to 7,111 in the six months ending on June 30, 2025. The decrease in OPU cycles was mainly due to a decrease in the number of initial patients and a significant increase in the proportion of artificial insemination (IUI) cycles. The number of IUI patients increased from 227 in the six months ending on June 30, 2024 to 969 in the six months ending on June 30, 2025. During the reporting period, the total number of treatment cycles (including IUI cycles and OPU) in the group's Chengdu business continued to increase. Since the introduction of the third generation of assisted reproductive technology in 2024, the group has served over 1,500 patients as of the date of this announcement. In 2024, prenatal diagnosis and genetic counseling-related businesses were launched, providing comprehensive support to women going through IVF pregnancies and ensuring the health of newborns. Leveraging more than 70 years of experience in women and children's medical care and over 20 years of assisted reproductive technology accumulation, the group has pioneered the "Assisted Reproduction | Full Cycle | Individualized" IVF pregnancy and childbirth integration model, featuring an all-round expert team and a multidisciplinary team (MDT), using technological efficiency to shorten ineffective time and help patients achieve their fertility goals through the most efficient path, while providing VIP services for a stress-free experience, supporting patients in all dimensions from physiology to psychology, and achieving a zero-burden pregnancy through systematic integration. By the end of the six months ending on June 30, 2025, the VIP penetration rate at Sichuan Jinxin Xiguan Hospital (Bisheng Branch) has continued to increase to approximately 20.8%.