The first-half performance of Spike Health (00314) ushered in substantial improvements in profit attributable to owners of the parent company of 43.294 million yuan, and gross margin increased to 20.1%

According to the Zhitong Finance App, Spike Health (00314) announced its 2026 interim results, with total revenue of about 740 million yuan, IFRS net profit of 42.924 million yuan, and profit attributable to the owner of the parent company of 43.294 million yuan, all of which turned losses into profits over the previous year. Overall gross margin increased from 14.4% in the same period in 2025 to 20.1%, up 5.7 percentage points year on year; net cash outflow from operating activities narrowed from 63.5 million yuan in the same period in 2025 to 26.6 million yuan, and operating cash flow performance further improved.

The above results show that the Group's core business performance has substantially improved. Corporate insurance services and medical research have helped the business continue to grow, the revenue share of high-margin core businesses has further increased, structural adjustments in pharmacies and other low-margin businesses have continued to advance, and the Group's strategic transformation has gradually moved from the business adjustment stage to the profit realization stage.

Over the past period, the Group has taken the initiative to reduce the low gross margin pharmacy business and some non-core business sizes, concentrating resources on core businesses with more long-term growth potential and profitability, such as corporate insurance services, corporate health management, and doctors' research assistance.

During the reporting period, the corporate insurance service business continued to develop rapidly, and the scale of operation and customer coverage were further expanded. As of June 30, 2026, the Group's operating premiums were approximately RMB 1.17 billion, an increase of about 35% over the same period in 2025; the number of corporate customers reached 693, an increase of 74 compared to 619 at the end of 2025; the number of service members reached about 2.13 million; and the medical and pharmaceutical service network covered more than 300,000 service outlets.

In the first half of 2026, corporate insurance service revenue was 58.9 million yuan, an increase of 37.7% over the same period in 2025. Corporate insurance services have become the main driving force for the Group's core business growth, revenue structure optimization and profit improvement.

In the first half of 2026, the physician research assistance business revenue was approximately $250 million, an increase of 16.0% over the same period in 2025. As of June 30, 2026, a total of 1,268 projects have been completed and 925 projects have been implemented. With its professional service capabilities, the Group was highly recognized by doctors and leading pharmaceutical companies at home and abroad. The service customer base covered all top ten listed pharmaceutical companies in the field of innovative drug research and development in China, and the top ten customer retention rate reached 100% during the reporting period.

Looking ahead to the second half of 2026 and the future, the Group will adhere to the established strategic direction, with the goal of becoming a leader in the commercial health insurance field and enterprise insurance brokerage field in China, further consolidating and expanding its core business advantages around the three development pillars of endogenous growth, professional recruitment and strategic mergers and acquisitions, and promote continuous improvement in profitability.