Several leading In Vitro Diagnostic (IVD) companies have posted their first-quarter results for 2026, showing mixed performance across revenue, profitability, and cash flow.
Beijing Strong Biotechnologies, Inc. (April 26): Revenue reached RMB 335M, up 4.69% YoY; net profit attributable to shareholders was RMB 106M, up 26.84% YoY; net cash from operating activities stood at RMB 96M, up 34.62% YoY.
BGI Genomics (April 24): Revenue grew 20.35% YoY to RMB 809M; net loss attributable to shareholders narrowed to RMB 10M (up 81.93% YoY); operating cash flow was negative at RMB 181M, improving 54.33% YoY.
MGI Tech (April 24): Revenue rose 24.81% YoY to RMB 585M; net loss attributable to shareholders was RMB 105M; operating cash flow was positive at RMB 90M.
KingMed Diagnostics (April 24): Revenue declined 7.88% YoY to RMB 1.351B; net profit attributable to shareholders surged 254% YoY to RMB 43M; operating cash flow decreased 20.32% YoY to RMB 43M.
Hangzhou Biotest Biotech (April 24): Revenue edged up 1.70% YoY to RMB 89M; net loss attributable to shareholders was RMB 10M (down 216.90% YoY); operating cash flow turned negative at RMB 18M (down 165.24% YoY).
Livzon Pharmaceutical Group (April 23): Revenue fell 9.73% YoY to RMB 2.871B; net profit attributable to shareholders decreased 9.39% YoY to RMB 577M; operating cash flow rose 12.80% YoY to RMB 817M.
Edan Instruments (April 23): Revenue increased 22.82% YoY to RMB 516M; net profit attributable to shareholders grew 61.39% YoY to RMB 105M; operating cash flow fell 20.56% YoY to RMB 8M.
Wondfo Biotech (April 22): Revenue declined 27.31% YoY to RMB 582M; net profit attributable to shareholders dropped 55.38% YoY to RMB 84M; operating cash flow more than tripled (+246.63% YoY) to RMB 218M.
Vazyme Biotech (April 22 ¨C FY2025 results): Revenue for 2025 was RMB 321M, up 12.52% YoY; net profit attributable to shareholders reached RMB 4M, reversing a prior-year loss (+118.95% YoY); operating cash flow was negative at RMB 78M.
Lepu Medical (April 22): Revenue declined 3.70% YoY to RMB 1.672B; net profit attributable to shareholders fell 34.80% YoY to RMB 247M; operating cash flow decreased 34.39% YoY to RMB 275M.
Improve Medical (April 21 ¨C FY2025 results): Full-year 2025 revenue decreased 17.50% YoY to RMB 95M; net profit attributable to shareholders turned positive at RMB 22M (+177.64% YoY); operating cash flow more than doubled (+110.87% YoY) to RMB 29M.
Acro Biosystems (April 20): Revenue grew 26.33% YoY to RMB 236M; net profit attributable to shareholders rose 13.99% YoY to RMB 46M; operating cash flow increased 19.37% YoY to RMB 40M.
The latest reports reflect divergent trends: while many companies posted top-line growth, profitability and cash flow performance varied significantly, underscoring a competitive and rapidly evolving IVC landscape in China.
