Yibai's losses widen as main products slump and regulators fine it again
First-half loss balloons on 30% revenue drop Yibai's main products sold far less, cutting revenue about 30% and pushing the first-half net loss to roughly 80 million yuan, much wider than last year's 20 million yuan loss. Even after cutting costs 26%, spending still exceeded sales, so the core business is shrinking and losing money.
The widening loss and falling sales are the central force dragging the stock down.
Regulator fines 700,000 yuan over cough syrup quality Guizhou's drug regulator fined Yibai 700,000 yuan for failing manufacturing quality standards on children's cough syrup, including skipped ingredient tests and missing records. The company says this follows its earlier 2025 suspension and no new violations occurred, but it adds to a record of repeated quality problems.
The fine is a fresh regulatory penalty that reinforces quality and compliance risk.
Two-and-a-half years of losses top 700 million yuan With 2024, 2025 and first-half 2026 all negative, cumulative losses now exceed 700 million yuan. Research spending has fallen five years straight, from 136 million yuan in 2021 to 84 million in 2025, raising doubts about the pipeline needed to replace weak products.
It shows the losses are a long-running pattern, not a one-off, and future growth spending is being cut.
Buyback shares to be cancelled, lifting per-share value Yibai disclosed it will change the purpose of its share buyback to cancellation and reduce registered capital. Cancelling bought-back shares shrinks the number of shares outstanding, which can modestly raise earnings per share and signals some shareholder-friendly intent, though it does not fix the weak business.
It is the one clearly supportive capital action in the period, offering a small counterweight to the losses.