Haohai Biological Technology(688366.SH) announced its 2025 annual performance, with net profit attributable to shareholders of 251 million yuan, down 40.30% year-on-year.

Hao Hai Biological Technology (688366.SH) released its 2025 annual report. During the reporting period, the company achieved operating revenue of RMB 2.473 billion, a year-on-year decrease of 8.33%. Net profit attributable to shareholders of the listed company was RMB 251 million, a year-on-year decrease of 40.30%. Net profit attributable to shareholders of the listed company after deducting non-recurring profit and loss was RMB 160 million, a year-on-year decrease of 57.67%. Basic earnings per share were RMB 1.08. It plans to distribute cash dividends of RMB 6.00 per 10 shares to all shareholders (including tax).

During the reporting period, the Group’s operating performance faced the combined impact of multiple external factors. On one hand, the Group’s major subsidiary, its Sheng Biotechnology, was affected by the increase in the value-added tax rate from 3% to 13%, resulting in both the post-tax selling price and sales revenue of relevant products during the reporting period declining. On the other hand, the national volume-based procurement of intraocular lens products entered the second stage of the two-year agreement period. Coupled with intensifying industry competition, the number of competing products in the market increased. In particular, domestic lenses, leveraging significant cost and pricing advantages, posed a greater challenge to imported brand products. In addition, the total number of domestic cataract surgeries in 2025 declined compared with 2024, causing overall market demand to fall, and the Group’s operating performance for the intraocular lens business fell short of expectations. Furthermore, considering the expectation that the second round of national volume-based procurement for intraocular lens products will be launched in the first half of 2026, and based on the prudence principle, the Group has recorded an impairment provision of approximately RMB 141 million for the goodwill of Shenzhen Sinogene, a subsidiary engaged in the U.S. import Lenstec-brand intraocular lens business, and an impairment provision of approximately RMB 25 million for the intangible asset—brand—held by AarenScientificInc., the U.S. subsidiary engaged in the production and sales of Aaren-brand intraocular lens products.

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