According to the Zhitong Finance App, Zhiyun Health (09955) announced interim results for the six months ended June 30, 2026. The group achieved revenue of 629 million yuan, a decrease of 29.5% year on year; adjusted net loss of 8.86 million yuan, a decrease of 86% year on year; and a loss of 0.05 yuan per share.
The decline in revenue during the period was mainly due to in-hospital solutions and out-of-hospital solutions being adversely affected by centralized procurement (centralized volume procurement) policies, as well as the strategic withdrawal of value-added businesses with low profits and cash consumption. However, due to our focus on high-quality and cash-generating growth rather than volume growth, our gross margin increased from 37.1% for the six months ended June 30, 2025 to 46.7% for the six months ended June 30, 2026. For the six months ended June 30, 2026, our non-IFRS adjusted net loss was 8.9 million yuan, a significant increase of 86.0% over the previous year, indicating a steady and solid operating situation after the strategic transformation.
AI-driven hospital platforms significantly increase customer stickiness, thereby increasing our commercialization opportunities. Our in-hospital solutions have enabled us to successfully establish deep connections with hospitals and pharmaceutical companies, laying a solid foundation for us to expand our business into the out-of-hospital scene. In the six months ended June 30, 2026, the number of hospitals connected to our hospital platform reached 15,266, a decrease of 571 hospitals or 3.6% compared to the six months ended June 30, 2025. The decrease was mainly due to the strategic exit of some underperforming lower tier hospitals. However, the number of level-III hospitals increased by 482, or 49.8%, over the six months ended June 30, 2025.