Zhenghai Bio's 2025 Annual Report: Oral/Dental Repair Membrane Revenue Reaches 136 Million Yuan, Down 15.8% Year-on-Year

Image Source: Zhenghai Bio's 2025 Annual Report

Net Profit Attributable to Shareholders of the Parent Company YoY -38.79% / Dental Repair Membrane Revenue YoY -15.82% / R&D Expenses +45.05%

DentalGoodNews | On March 31, 2026, Zhenghai Bio released its 2025 annual report. During the reporting period, the company achieved operating revenue of 364 million yuan, a year-on-year increase of 0.25%; net profit attributable to shareholders of the listed company was 82.4101 million yuan, a year-on-year decrease of 38.79%; Non-GAAP Net Profit was 69.6634 million yuan, a year-on-year decrease of 38.46%.

Image Source: Zhenghai Bio's 2025 Annual Report

From a cash flow perspective, the net cash flow generated from the company's operating activities was 97.1907 million yuan, a year-on-year decrease of 35.80%. Meanwhile, Non-recurring Gains and Losses contributed approximately 12.7467 million yuan during the reporting period, a significant decrease compared to the previous year, which also exerted a certain drag on net profit.

Image Source: Zhenghai Bio's 2025 Annual Report

On the expense side, R&D expenses increased by 45.05% year-on-year to 57.326 million yuan, while sales expenses increased by 19.02% year-on-year to 142 million yuan. The increase in R&D investment was primarily due to the advancement of various R&D projects according to plan, leading to increased testing fees. The company currently has a total of 10 Class III Medical Devices products and continues to deepen its focus in the field of regenerative medicine.

Image Source: Zhenghai Bio's 2025 Annual Report

As the company's core business, the Dental Repair Membrane achieved operating revenue of 136 million yuan during the reporting period, a year-on-year decrease of 15.82%; the product's share of operating revenue decreased from 44.62% in the same period last year to 37.46%; the product's gross profit margin reached 88.14%, a decrease of 0.55 percentage points compared to the same period last year. The company disclosed in its annual report that it has initiated a strategic adjustment centered on "precision marketing" for its Dental Repair Membrane product, aiming to enhance market response efficiency and build market share resilience by optimizing organizational structure, expanding online channels, deepening e-commerce cooperation, and establishing a dynamic pricing adjustment mechanism.

The report indicates that during the reporting period, the company continued to advance its product layout in the dental field. The second-generation Dental Repair Membrane has already obtained the Medical Device Registration Certificate, and the registration change for adding specifications/models to the Dental Repair Membrane has been completed. In terms of R&D, the Absorbable Dental Membrane is in the clinical trial stage and is intended to be used in conjunction with bone powder to guide alveolar bone regeneration. In January 2026, the company's calcium-silicon bioceramic oral bone repair material was approved and obtained the Medical Device Registration Certificate. As China's first 3D-printed calcium-silicon-based bioceramic oral bone repair material, it further completes the company's soft and hard tissue repair pipeline.

Furthermore, the report points out that during the reporting period, the company also initiated the establishment of the "China Oral Disease Prevention Foundation Special Fund for Oral Regenerative Medicine Research," primarily used to support research and technology transformation related to oral regenerative medicine.