[GNI Group] Q1 FY2026 Earnings｜Sales $22.5 million (YoY +1.8%)

Performance Overview

GNI Group’s consolidated subsidiary Gyre Therapeutics recorded sales of $22.5 million in Q1 FY2026, with an operating loss of ¥1,495 million and a net loss of ¥1,574 million. Sales slightly increased YoY, while losses widened due to increased R&D and marketing expenses. Cash reserves remained solid at $79.2 million. The full-year forecast remains unchanged, with ongoing clinical trials and acquisition-driven business expansion.

Outlook and Business Strategy

Gyre Therapeutics is preparing to submit an NDA after receiving priority review designation from China’s NMPA for F351. In the US, it has completed Phase 1 clinical trials and plans to submit an IND by the end of 2026. The acquisition of Cullgen has enabled the company to acquire TPD technology and is considering expansion into other disease areas beyond fibrosis. The full-year sales forecast remains at $100.5 million to $111 million, with continued focus on clinical development and business growth.