Profit halved on price cuts and tax; new drug trial offers hope
First-half profit halved by price cuts and tax change Tiantan's first-half 2026 net profit fell about 52% to 299 million yuan, with revenue down 16.6%. The company blames medical insurance cost controls that sparked price competition in blood products, plus a January 2026 VAT change that raised its tax bill. Lower prices and higher taxes squeeze profit.
This is the core new financial result showing why the stock is under pressure.
Industry-wide price war and tax hit confirmed by peers Rival Weiguang Biological also reported a near-60% profit drop and is expanding capacity despite high inventory, signaling the whole blood-products sector is oversupplied and competing on price. This confirms Tiantan's troubles are industry-wide, not company-specific, and keeps pressure on its pricing and margins.
Shows the downturn is sector-wide, reinforcing the negative outlook for Tiantan's prices and volumes.
New hemophilia B drug clears Phase III trial Tiantan's subsidiary Chengdu Rongsheng completed Phase III testing of Human Coagulation Factor IX for hemophilia B and obtained the summary report. This moves a new product closer to market, which could add future revenue and reduce reliance on older products facing price pressure.
A new pipeline advance is the main positive development this period that could support the stock.