JXR (01951) released its mid-term performance report, with a profit attributable to shareholders of 107 million yuan, turning losses into profits year-on-year.

JXR (01951) announced its performance for the six months ending June 30, 2026, reporting revenue of RMB 1.373 billion (RMB, the same below), a year-on-year increase of 6.57%; shareholders' profit attributable to shareholders was RMB 107 million, turning a profit compared to a loss in the same period last year; basic earnings per share were RMB 0.04. The announcement stated that the overall revenue increase was mainly due to the following factors: (i) an increase in ARS and related service revenue of approximately RMB 17.2 million; (ii) a growth in management service revenue of about RMB 50.8 million; (iii) a decrease in revenue from obstetric and related medical services of around RMB 100,000; (iv) an increase in revenue from women's health services and others of about RMB 14.7 million; and (v) an increase in revenue from medical consumables and equipment-related sales of about RMB 2.1 million. The primary reasons for the revenue increase were: (a) thanks to the official implementation of California's SB 729 legislation starting in 2026 and the successful physician reserve over the past three years, the number of egg retrieval cycles in the U.S. reached an all-time high in the first half of the year, with revenue increasing year-on-year by RMB 87.1 million; (b) the development of women's life cycle and reproductive health management as well as business strategies led to a year-on-year revenue increase of RMB 14.7 million in women's health services. It is reported that the VIP products in the Chengdu branch have entered a mature operational stage, with an increasing ability to charge premium prices. In the first half of 2026, the VIP penetration rate at the Chengdu Biheng branch reached 21.7%, an increase of about 1 percentage point year-on-year, and the average transaction value increased year-on-year by 6% to RMB 71,000. Since the Shenzhen branch began full operation in the second quarter of 2026, leveraging 40 years of medical technology expertise and hardware upgrades at the new facility, its high-net-worth business has shown initial results in the first half of 2026. In addition to a significant increase of 32.5% in new consultations for infertility, the VIP penetration rate increased by 6.9 percentage points year-on-year to 9.2%, and new consultations from Hong Kong patients rose by 62% year-on-year. In the future, relying on the geographic advantage of the Guangdong-Hong Kong-Macau Greater Bay Area, the focus will be on VIP and international business, with expectations for the high-net-worth business to grow rapidly.