Jin Medical Revenue Falls 9.7% in First Half of Fiscal 2026

CHANGZHOU, China – JIN MEDICAL INTERNATIONAL LTD. (Nasdaq: ZJYL), a leading provider of rehabilitation medical equipment in China, reported total revenue of US$8.9 million for the six months ended March 31, 2026, down 9.7% from US$9.9 million a year earlier.

The company posted a net loss of US$0.2 million, compared with net income of US$0.01 million in the same period last year. Basic and diluted loss per share stood at US$0.01 for both periods.

Gross profit remained relatively stable at US$2.4 million, while gross margin rose to 26.9% from 24.3%. The improvement was primarily attributed to higher variable costs for standard and economy wheelchair products in the prior-year period, when the company used certain high-unit-price components without raising selling prices in order to improve inventory turnover.

Segment performance

• Wheelchair product revenue slipped 1.4% to US$7.1 million, mainly on lower orders from largest customer Nissin of Japan. Nissin buys in RMB but sells in Japanese Yen, and the weaker Yen hurt its profitability. Sales to Nissin and its subsidiaries fell by about US$84,000. Management expects the currency impact to be temporary.
• Wheelchair component revenue rose 9.9% to US$1.1 million on stronger repair and maintenance orders.
• Revenue from other products dropped 59.1% to US$0.7 million, largely due to a roughly US$0.8 million decline from electric scooters after the company failed to obtain the relevant qualifications and ceased those sales.

Cost of revenue and related tax fell 12.8% to US$6.5 million. Operating expenses edged up to US$3.0 million from US$2.9 million, with research and development spending jumping 33.4% to US$0.9 million. Selling expenses declined 4.7% to US$0.71 million on fewer trade show participations, while general and administrative expenses held steady at US$1.4 million. Net other income surged 344.5% to US$0.5 million, mainly on higher government grants including fixed asset investment subsidies.

Chairman and Chief Executive Officer Erqi Wang said revenue was affected by lower sales of other products and temporary foreign-exchange pressure on orders from the largest Japanese customer.

"With US$9.1 million in cash and US$21.0 million in short-term investments as of March 31, 2026, we believe we maintain a solid financial position," he said, adding that the company would focus on strengthening its core portfolio, expanding its customer base at home and overseas, and advancing production capacity.