Xiangyu Medical Reports 6.27% YoY Revenue Growth and 38.80% R&D Investment Increase in H1 2025

China Securities News (Wang Lu) -- On the evening of August 28, Sunnyou Medical released its semi-annual report for 2025. The report shows that in the first half of the year, the company achieved operating revenue of 359 million yuan, a year-on-year increase of 6.27%; net profit attributable to parent company was 35.3947 million yuan, and non-recurring net profit was 23.0337 million yuan.

Sunnyou Medical stated in the report that the company's revenue growth was mainly due to its commitment to technological innovation, continuous improvement in management and operational capabilities, and further increases in market penetration in core areas such as pain rehabilitation, neurological rehabilitation, and postpartum rehabilitation. The decline in net profit was primarily due to the company’s continued increase in R&D investment in areas such as brain-computer interface, rehabilitation robots, and AI medical technologies during the reporting period, while further optimizing the sales team and expanding the product line, leading to increased R&D expenses and sales costs.

　　R&D Investment Accounts for Over 25%, Cutting-edge Technology Achievements Implemented

As a leading enterprise in the rehabilitation industry, Sunnyou's R&D investment continued to increase in the first half of 2025, with R&D expenses reaching 91.147 million yuan, a year-on-year increase of 38.80%. The proportion of R&D expenses to operating income rose to 25.39%, increasing by 5.95 percentage points compared to the same period last year, further enhancing the overall R&D capabilities.

During the reporting period, the company added 117 patents (including 22 invention patents), bringing the total number of patents to over 1,933. It also obtained 32 new medical device registration certificates/filing credentials, raising the cumulative total to 377, further enriching its product portfolio. In cutting-edge fields, results have emerged from Sunnyou's Rehabilitation Robotics Lab and Sun-BCI Lab for brain science — products such as the moxibustion therapy machine for Traditional Chinese Medicine, upper limb movement training robot, and transcranial magnetic stimulation-assisted therapy robot have been successively launched. Two electroencephalogram (EEG) acquisition devices successfully obtained registration certificates, supporting the construction of comprehensive solutions for Brain-Computer Interface (BCI) rehabilitation centers and accelerating the transformation of advanced technologies into clinical applications.

In addition, the company's inspection and testing center laboratory has obtained dual CMA and CNAS certifications, filling the gap in full-industry-chain testing for rehabilitation devices in China. It can provide over 700 testing services, offering strong support for quality control and rapid market entry of products.

　　Deepening the Layout of the Entire Industry Chain, Internationalization Opens Up the Second Growth Curve

In terms of business, Sunnyou continues to enhance its product ecosystem covering "all specialties, entire hospitals, and the whole region," establishing a full industrial chain layout that includes 10 major categories, 55 series, and thousands of products across rehabilitation therapy, rehabilitation training, and traditional Chinese medicine diagnosis and treatment. During the reporting period, the company launched several new products, such as the upper limb joint medical rehabilitation training device, red-blue light therapy device, and multi-joint isokinetic muscle strength evaluation and rehabilitation training device, further meeting the specialized clinical needs. At the same time, it deepened the "six-all" smart health care service guarantee system, providing integrated solutions for hospitals and elderly care institutions at all levels, with remarkable achievements in the construction of model hospital clusters.

The internationalization strategy is proceeding steadily. The company is accelerating its "going global" process, with products already sold to more than 30 countries and regions including Southeast Asia, the Middle East, and Central Asia; some products have obtained EU CE certification and continue to gain medical device registrations in countries such as Thailand, Vietnam, and Indonesia, leading to increasing international market recognition and paving the way for the company’s second growth curve.