Alading (688179): Dual Drivers of Organic and External Growth Propel Earnings Back to Fast Track

Event: The company released its 2025 annual report and the first quarter report of 2026. In 2025, revenue reached 696 million yuan (yoy+30.39%), with a net profit attributable to shareholders of 102 million yuan (yoy+3.34%).

Cinda SecuritiesMay 5 00:00

Aladdin's revenue reached 696 million yuan in 2025, increasing by 30.39% year-on-year, while its non-GAAP net profit amounted to 95.988 million yuan, representing a decrease of 1.47%.

In 2025, the company's revenue increased by 30.39% to RMB 696 million, but net profit attributable to shareholders grew only by 3.34%, and non-GAAP net profit declined by 1.47%. The main reasons were a surge of 775.59% in financial expenses, selling expenses growing faster than revenue, and a 3.89 percentage point decline in net profit margin. Revenue from scientific research reagents and platform services accounted for a combined 98.8%, reflecting a continued increase in core business concentration, with East China becoming the largest market. Operating cash flow surged by 164.38%, indicating initial success from acquisition synergies.

lanjinger.comApr 28 14:09

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