Tigermed Announces 2026 Interim Results

HANGZHOU, China, Aug. 28, 2026 /PRNewswire/ -- Hangzhou Tigermed Consulting Co., Ltd. (300347.SZ / 3347.HK), a leading global provider of integrated research and development solutions for biopharmaceutical and medical device industry, announced its 2026 interim results (the "Reporting Period").

This document is for information purposes only and is not intended to provide any representation, in whole or in part, of the relevant matters. Please refer to the 2026 interim results announcement and other relevant announcements published on the websites of the Shenzhen Stock Exchange (www.szse.cn) and the Stock Exchange of Hong Kong (www.hkexnews.hk) for further information. 

All financials disclosed in this document are presented in accordance with China Accounting Standards for Business Enterprises (CASBE) except for those specifically noted otherwise.

Please note that the Company's interim financial figures for 2026 are unaudited.

Financial Highlights

• During the Reporting Period, the Company's revenue reached RMB 3,707.6 million, up 14.1% year-over-year (YoY).
• During the Reporting Period, Gross Profit reached RMB 1,020.5 million, up 4.4% YoY.
• During the Reporting Period, Adjusted Net Profit Attributable to the Owners of the Company reached RMB 277.7 million, up 31.8% YoY.
• During the Reporting Period, Clinical Trial Solutions segment revenue was RMB 1,773.4 million, up 20.7% YoY.
• During the Reporting Period, Clinical-related and Lab Services segment revenue was RMB 1,934.2 million, up 8.6% YoY.
• During the Reporting Period, China Revenue was RMB 2,106.1 million, up 24.0% YoY; Overseas Revenue was RMB 1,601.5 million, up 3.2% YoY.

Business Highlights

Tigermed received continued recovery in 2026 Q2 results. In H1 2026, Tigermed signed strategic cooperation agreements with Hisun Pharmaceutical, Insilico Medicine, 3SBio, and a leading European multinational pharmaceutical company, deepening collaboration in clinical trials, AI enablement, and early-stage R&D. The Company also completed the acquisitions of Teddy Laboratory and Shanghai Bioquick, enhancing integrated capabilities from preclinical R&D to laboratory testing and clinical supply chain. In March 2026, Tigermed's new global headquarters building and Tigermed Park opened in Hangzhou, serving as a hub for global operations and innovation development.

As of June 30, 2026, Tigermed had 11,984 global employees across 43 countries, including 2,019 overseas employees. In H1 2026, the Company provided R&D services for 31 approved Class 1 new drugs in China and, over the past 20 years, has provided R&D services for 62% of approved Class 1 new drugs in China.

In 2025, Tigermed maintained its leading position in the China clinical CRO market and remained the only Chinese clinical CRO to rank among the global Top 10.

Business Overview

In the clinical trial solutions field, as of June 30, 2026, the number of ongoing drug clinical research projects was 667. The number of total customers served in Regulatory Affairs increased to 1,014, and the Company added 28 new U.S. FDA IND projects in H1 2026.

In H1 2026, medical device and IVD professionals exceeded 600, and assisted 5 industry-first medical device products to market in H1 2026. Pharmacovigilance added 141 new projects, up 17% year-over-year. Language services added 35 new clients, while patent and IP services were officially launched with multiple deliveries complete; new orders for clinical site services grew 13% year-over-year. As of June 30, 2026, Tigermed operated 6 co-established clinical sites with a total of 620 research beds.

In Clinical-related and Lab Services, as of June 30, 2026, the Data Management & Statistical Analysis global client base exceeded 440, with 1,126 ongoing projects. Following Frontage Laboratories' acquisition of Teddy Laboratory, the global laboratory services team exceeded 1,800 people, with 25 facilities across China, the U.S., and Europe.

Furthermore, in H1 2026, the 4,300 sqm CDMO GMP manufacturing facility in Exton, U.S. commenced operations. As of June 30, 2026, Tigermed had 3,094 ongoing Site Management projects, up 25% year-over-year. Independent Central Imaging added 20 new clients and 35 new projects in H1 2026.

Across its global operations, Tigermed had cumulatively conducted 184 Multi-Region Clinical Trials and had 264 ongoing overseas drug clinical research projects as of the end of H1 2026. The Company had 59 ongoing clinical trial projects in the U.S., up 45% year-over-year. New clinical project orders in Australia grew nearly 100% year-over-year, and the Company established a subsidiary in New Zealand to expand service scope and capabilities in Australia and the Asia-Pacific region. The Europe / Middle East / Africa (EMEA) team exceeded 100 employees and had 14 ongoing clinical trial projects. The Company has established end-to-end service and one-stop service solutions in Japan and South Korea.

In the first half of 2026, Tigermed continued to advance digital and intelligent innovation, accelerating the integration of AI into clinical research. The Company established an intelligent clinical research platform centered on decentralized clinical trials (DCTs), AI large language models (LLMs), and data visualization. In-house developed AI agents have progressively been applied to business scenarios.

The Company independently developed its SAP (Statistical Analysis Plan) system and put it into commercial operation. In H1 2026, Tigermed added 30 new Decentralized Clinical Trials (DCTs) projects, and new orders for clinical trials with DCT elements exceeded RMB 300 million. The Company jointly published the China DCT Industry Practice: 2023-2025 Three-Year Longitudinal Survey Report with the China Society for Drug Regulation and Beijing Collaborative Medical Advance Center.

Management Comments 

Dr. Xiaoping Ye, Co-founder and Chairman of Tigermed, commented: "In the first half of 2026, the global biopharmaceutical industry showed a more positive trajectory, with innovation, R&D investment, and collaboration demand gradually recovering. As the globalization of China's innovative medicines accelerated, the CRO industry gained new opportunities. Looking ahead, we will continue strengthening our professional capabilities and global competitiveness while supporting clients worldwide."

Ms. Xiaochun Cao, Co-founder, Director, Chair of the Board Executive Committee of Tigermed, stated: "Amid a rapidly evolving industry landscape, we remain committed to long-term, prudent development by strengthening corporate governance, optimizing resource allocation, and enhancing organizational capabilities. Guided by sustainable, high-quality growth, we will continue creating long-term value for our customers, employees, shareholders, and partners."

Zengyu (Michael) Wen, Director, President of Tigermed, remarked: "In the first half of 2026, we continued advancing our integrated, globalized, and digitalized strategy, strengthening our end-to-end R&D service capabilities. Through enhanced global collaboration, optimized project delivery, and broader application of digital platforms and AI technologies, we will continue providing high-quality integrated R&D solutions to clients worldwide."