XtalPi Holdings Limited released its unaudited interim results for the six months ended 30 June 2026.
Financial Performance • Revenue dropped 23.9% year-on-year to RMB 393.63 million, reflecting the absence of the USD 51.00 million upfront payment booked in 1H 2025 for a major pipeline licensing deal. Excluding that one-off, revenue rose 73.8%.
• Segment detail: – Drug Discovery Solutions revenue fell 54.0% to RMB 200.11 million after the high 1H 2025 base. – AI for Science (AI4S) Intelligent Solutions revenue surged 136.4% to RMB 193.52 million, buoyed by both Intelligent Robotic Labs and Intelligent Services.
• The Group recorded a net loss of RMB 224.94 million, versus a RMB 75.61 million profit in 1H 2025.
• Adjusted net loss (non-IFRS) was RMB 105.51 million, compared with a RMB 141.63 million profit a year earlier.
Cost Structure • Total expenses for cost of revenues, G&A, R&D, and selling & marketing reached RMB 795.81 million. • R&D outlays expanded 66.0% to RMB 367.84 million, driven by continued investment in autonomous laboratories, agentic systems, pipelines in development and multi-modal technology platforms.
Liquidity and Capital Resources • Cash balance (cash and cash equivalents, bank deposits, current FVTPL financial assets and restricted cash) stood at RMB 8.67 billion on 30 June 2026, up from RMB 7.07 billion at 2025 year-end.
• Borrowings increased to RMB 2.99 billion (31 Dec 2025: RMB 345.80 million) after issuing zero-coupon convertible bonds with principal HK$2.87 billion (RMB 2.54 billion) on 28 January 2026 and drawing additional bank loans.
• Net cash from financing activities totaled RMB 2.68 billion; net cash used in operating and investing activities were RMB 399.24 million and RMB 2.18 billion respectively.
Business Highlights • AI4S Intelligent Solutions accelerated with strong overseas deliveries and repeat orders. • The Group’s cash position, at RMB 8.67 billion, is deemed sufficient to support ongoing R&D expansion and platform upgrades.
Dividends • The Board does not recommend an interim dividend for 1H 2026.
Events After Reporting Date • No material subsequent events were noted up to the report date.
Governance and Review • The Audit Committee, comprising three independent non-executive directors, reviewed the interim results. The interim financial information was reviewed by PricewaterhouseCoopers.
Outlook Management reiterates ongoing investment in AI-driven research infrastructure, expansion of domestic and international commercialization capability, and the build-out of intelligent robotic labs to sustain long-term growth.