Porton Pharma Q3 2026: Quarterly Attributable Net Profit RMB 112M, Up 112%; Profitability Recovers

9M revenue RMB 2.765B (+9%); continuing-operations net profit RMB 192M (+201%). Q3 attributable net profit RMB 112M (+112%). Excluding a RMB 330M impairment on the terminated Slovenia project, earnings improved markedly, with CGT and new-molecule businesses growing fast.

On October 26, Porton Pharma Solutions (300363.SZ) released its 2026 third-quarter report: the company returned to quarterly profit, with Q3 attributable net profit up 112% YoY as profitability recovered quarter by quarter.

For 9M 2026, revenue was RMB 2.765B, up ~9% YoY (or ~12% at constant currency); Q3 (July–September) revenue was RMB 975M, growing both sequentially and YoY. The company expects Q4 revenue growth to accelerate to 20%–30% YoY.

Profitability improved markedly: 9M continuing-operations net profit was RMB 192M, up ~201% YoY; Q3 attributable net profit was RMB 112M, up ~112%. The 9M attributable net profit was -RMB 112M, mainly because the termination of the Slovenia investment project triggered an impairment provision of EUR 41.29M (≈RMB 330M) booked in Q2.

By region and segment, overseas revenue was RMB 2.009B (+11%) and domestic RMB 756M (+2%); small-molecule API business revenue was RMB 2.537B (+8%). Among the three new businesses, cell & gene therapy (CGT) CDMO revenue was RMB 88.73M, up 107% YoY; small-molecule formulation CDMO RMB 89.95M (-11%, amid a generics-to-innovative restructuring); new-molecule business ~RMB 41.2M (-11%, on client delivery timing).

Gross margin kept recovering: 9M overall gross margin was ~33.54%, up nearly 5 ppts YoY; Q3 gross margin 35.93%, up nearly 5 ppts YoY and ~2 ppts QoQ. Overseas gross margin was ~43% (+3 ppts); excluding new businesses, domestic overall gross margin was ~30% (+12 ppts). New businesses had a ~-RMB 177M impact on 9M attributable net profit, with CGT narrowing its loss by RMB 3.96M YoY — a clear trend of loss reduction.