CHAOJU EYE CARE (financial year ending December 31) reported interim revenue of RMB710.69 million for the six months to 30 June 2026, a year-on-year increase of 1.8%. Despite the top-line growth, gross profit slipped 3.5% to RMB287.24 million and net profit fell 16.1% to RMB92.94 million. Basic earnings per share retreated to RMB0.14 from RMB0.16 a year earlier.

Consumer ophthalmic services remained the primary growth engine, expanding 3.7% to RMB372.92 million and accounting for 52.5% of total revenue. Basic ophthalmic services declined 4.1% to RMB323.78 million, reflecting lower medical-insurance reimbursement rates. Sales of equipment and medical consumables surged to RMB13.99 million from RMB1.30 million, aided by an expanded supply-chain business.

Pressure on profitability was evident: gross profit margin narrowed to 40.4% from 42.6%, while net profit margin decreased to 13.1% from 15.9%. Non-IFRS adjusted net profit dropped 19.4% to RMB95.48 million; adjusted net margin slipped to 13.4% from 17.0%.

Operationally, CHAOJU Eye’s 32 hospitals and 32 optical centres handled 554,891 outpatient visits (+6.3%) and 34,938 inpatient admissions (virtually flat). Average inpatient spending fell 13.6% to RMB5,780 following pricing adjustments by local medical-insurance bureaus, while outpatient spending held steady at RMB797 per visit. Optical centre traffic inched up to 49,982 visits, with average selling price rising 7.6% to RMB1,052.

Total assets stood at RMB2.97 billion, down 1.6% from end-2025, and equity declined 3.4% to RMB2.32 billion. Cash and cash equivalents dropped 58.0% to RMB216.85 million, reflecting RMB302.30 million of net investment outflows and a RMB147.99 million final dividend paid for FY-2025. The group held RMB561.10 million of low-risk wealth-management products, representing 18.9% of total assets.

Net operating cash inflow reached RMB174.45 million, offset by investment spending on medical equipment, hospital upgrades and financial products. Interest-bearing borrowings were minimal at RMB2.80 million, leaving the company in a net cash position.

During the period CHAOJU Eye repurchased 1.76 million shares for HK$4.15 million and cancelled 2.33 million shares on 4 March 2026. No interim dividend was declared.

Management plans to deepen its focus on consumer ophthalmic services, continue North China expansion, and pursue selective acquisitions in the Yangtze River Delta, while maintaining tight cost controls and enhancing centralized management to restore margin momentum.