Asymchem H1 2026 Revenue Up 13.13% to RMB 3.607 Billion, Net Profit Down 15.71%

Asymchem Laboratories reported first-half 2026 revenue of RMB 3.607 billion, up 13.13% year-on-year. Net profit attributable to shareholders fell 15.71% to RMB 520 million, while net profit excluding non-recurring items declined 7.30% to RMB 525 million. The company attributed the drop in attributable net profit mainly to exchange-rate fluctuations, saying that excluding currency effects, operating performance continued to improve. On a constant-currency basis, revenue rose 16.20% year-on-year, gross profit increased 17.02%, and adjusted net profit reached RMB 753 million, up 12.90%.

Financial expenses in the first half reached RMB 134 million, surging 314.80% year-on-year, primarily due to exchange losses from currency movements. The vast majority of the company's revenue comes from overseas sales denominated in US dollars and other foreign currencies, while sales costs, operating costs, and expenses are mainly denominated in RMB, so exchange-rate changes directly affect profit performance.

By business segment, small-molecule CDMO revenue was RMB 2.297 billion, down 5.44% year-on-year, with gross margin still at 47.83%. Emerging business revenue reached RMB 1.304 billion, up 72.49% year-on-year, raising its share of total revenue to 36.16%. Within this segment, chemical macromolecule CDMO revenue rose 94.14% to RMB 736 million; biological macromolecule CDMO revenue increased 122.82% to RMB 200 million; and formulation CDMO revenue grew 50.93% to RMB 178 million. Peptide, oligonucleotide, and ADC businesses continued to scale up, driving the business mix toward diversified CDMO services.

Revenue from domestic clients reached RMB 1.205 billion, up 68.95% year-on-year, with its share of total revenue rising to 33.41% from 22.37% in the same period of 2025. Revenue from overseas clients was RMB 2.402 billion, up 1.00% on a constant-currency basis, with its share falling to 66.59% from 77.63%. Overseas markets still contributed about two-thirds of revenue, but domestic clients became the new growth driver.

As of August 2026, the company's total order backlog reached USD 1.673 billion, up 53.77% year-on-year. New orders signed since the start of 2026 increased 54.59% year-on-year, with particularly strong growth in chemical macromolecule and biological macromolecule orders. On July 16, the company's A-share price touched an intraday high of RMB 200.00 per share, a recent peak; from the start of the year to August 24, the share price had accumulated a gain of nearly 70%.