HAOHAI BIOTEC (06826) is expected to have a net profit attributable to the parent company of approximately 2.51 billion yuan in 2025, a decrease of 40.3% year-on-year.

HAOHAI BIOTEC(06826) released its 2025 performance report, with total operating revenue of approximately RMB 2.473 billion, a decrease of 8.33% year-on-year; net profit attributable to the owners of the parent company was approximately RMB 251 million, a decrease of 40.3% year-on-year; net profit attributable to the owners of the parent company excluding non-recurring gains and losses was approximately RMB 160 million, a decrease of 57.67% year-on-year; basic earnings per share were RMB 1.08. During the reporting period, as the national bulk procurement of artificial intraocular lens products entered the second phase of the two-year agreement, coupled with the increasingly fierce industry competition, HAOHAI BIOTEC's subsidiary ShenZhen New Industries Biomedical Engineering faced significant operational pressure in its business of the US-imported Lenstec brand artificial intraocular lens. On one hand, the total number of cataract surgeries in China decreased in 2025 compared to 2024, resulting in a decline in overall market demand; on the other hand, the number of competing products in the market increased, especially domestically-produced lenses posing a greater challenge to imported brands. The selling price and sales volume of Lenstec products both declined in 2025, causing ShenZhen New Industries Biomedical Engineering's operating profit for the year to fall short of expectations. Based on the performance, and considering the expected price reduction of artificial intraocular lens products in the second round of national bulk procurement in the first half of 2026, the company made a provision for impairment of goodwill for ShenZhen New Industries Biomedical Engineering of approximately RMB 140 million as a precautionary measure. This impairment amount is preliminary and will be finalized after evaluation and audit by qualified assessment and audit firms hired by the company. Due to changes in industry policies and market conditions, another US subsidiary of the company, Aaren Scientific Inc., engaged in the production and sale of artificial intraocular lenses, experienced signs of impairment in its intangible assets - brand. After preliminary impairment testing, the company made a provision for impairment of approximately RMB 24.98 million for this intangible asset.