TOPCHOICE MEDICAL CORPORATION 2026H1: Revenue of RMB 1.586 billion, up 4.1% YoY, with dental implantation business revenue up 4.16% YoY.

Source: Topchoice Medical 2026 Semi-Annual Report

H1 2026 Revenue RMB 1.586 Billion / Net Profit Attributable to Shareholders of the Parent Company Up 32.70% YoY / Implant Business Up 4.16% YoY

DentalGoodNews｜August 15, 2026, TOPCHOICE MEDICAL CORPORATION (hereinafter referred to as "TOPCHOICE MEDICAL") released its 2026 semi-annual report. The report shows that the company achieved operating revenue of RMB 1.586 billion in the first half of the year, up 4.10% year-on-year; net profit attributable to shareholders of the listed company (hereinafter referred to as "net profit attributable to shareholders of the parent company") reached RMB 458 million, up 32.70% year-on-year.

In terms of profitability, the company's gross margin for the first half of the year was 42.95%, with a net margin of 32.83%; the selling expense ratio was 1.02%, and the financial expense ratio was 1.27%.

Source: Topchoice Medical 2026 Semi-Annual Report

From the perspective of core business composition, the company's implant business generated revenue of RMB 265 million in the first half of the year, up 4.16% year-on-year; orthodontic business revenue was RMB 241 million, up 5.32% year-on-year; prosthodontic business revenue was RMB 244 million, up 5.91% year-on-year. The general comprehensive business achieved revenue of RMB 427 million, up 8.30% year-on-year; pediatric business revenue was RMB 235 million, down 0.59% year-on-year.

In April 2026, TOPCHOICE MEDICAL completed the acquisition of 100% equity in four companies, including Hangzhou Cunji Glasses Co., Ltd. and Ningbo Guangji Optometry Technology Co., Ltd., with a total transaction amount of RMB 600 million. The company noted in the semi-annual report that this acquisition is a continuation of its strategy initiated in 2017 when it took a stake in Zhejiang Tongce Ophthalmology Hospital Investment Management Co., Ltd. to expand into ophthalmology medical services, with plans to establish optometry/vision care zones within dental hospital networks to achieve spatial and team reuse. During the reporting period, Cunji Glasses achieved operating revenue of RMB 73.8519 million and net profit of RMB 35.2184 million. The company pointed out that the optometry/vision care business still differs from the core dental business in terms of supply chain, customer acquisition channels, and professional teams, and that synergy realization will take time; the optometry/vision care consumer sector has numerous participants, and changes in product mix may affect gross margins.

Source: Topchoice Medical 2026 Semi-Annual Report

In terms of cash flow, during the reporting period, the company's net cash flow from operating activities was RMB 400 million, up 7.36% year-on-year, mainly due to increased cash received from sales of goods and rendering of services during the period; net cash flow from investing activities was RMB -695 million, compared with RMB -189 million in the same period last year, mainly due to equity acquisitions during the period; net cash flow from financing activities was RMB -35 million, compared with RMB -324 million in the same period last year, mainly due to cash dividend distribution in the prior period. As of the end of the reporting period, the company's total assets stood at RMB 5.99 billion, with net assets attributable to shareholders of the listed company at RMB 4.137 billion; the asset-liability ratio was 24.39%.

In terms of operational scale, as of June 30, 2026, TOPCHOICE MEDICAL operated 89 medical institutions, equipped with over 3,100 dental treatment units, with medical space exceeding 260,000 square meters and 4,757 professional medical staff; cumulative oral medical outpatient visits in the first half of the year reached 1.8304 million, up 3.75% year-on-year.

In addition, the report noted that the company fully implemented the "Large-Department System" reform in 2026, establishing a resource allocation mechanism of "unique doctor ID, province-wide mobility" and setting up doctor groups by specialty; it will also continue to advance the "headquarters + branch" model and expand full coverage across Zhejiang Province through "Dandelion" branch clinics; meanwhile, it proposed ideas such as promoting synergy between the optometry/vision care business and the core dental business, and establishing optometry/vision care zones within dental hospital networks. In terms of digitalization, the company will leverage the "One-ID Project" to connect key data across customers, doctors, and dental chairs, and rely on the MindHub AI middle platform to embed AI into the full process of diagnosis and treatment, quality control, and management.