On the evening of August 7th, leading global dietary supplement industry company, Tonkin Health (300146. SZ), released its 2026 semi annual report. During the reporting period, Tongchen Beijian continued to innovate in product research and enhance its competitive advantage in product differentiation. In the first half of 2026, the company achieved a revenue of 3.671 billion yuan, a year-on-year increase of 3.94%, and a main business revenue of 3.655 billion yuan, a year-on-year increase of 5.00%. The net profit attributable to shareholders of the listed company was 603 million yuan.

Among them, the second quarter revenue of Tangshan Beijian was 1.803 billion yuan, maintaining positive growth year-on-year, which means that Tangshan Beijian has achieved four consecutive quarters of year-on-year revenue growth. Faced with fierce market competition, changes in channel structure, and other impacts, the profits of Tangshan Beijian have been under short-term pressure. However, they still focused on product innovation as a breakthrough point and demonstrated stable business resilience in the first half of the year.

In the first half of 2026, based on deep consumer insights and rich scientific research accumulation, Tonson Health will focus on high growth tracks such as protein powder, fish oil, glucosamine, probiotics, and children's nutrition. Through product innovation, raw material upgrades, formula upgrades, and dosage form upgrades, we will improve product quality and increase incremental growth with differentiated products with better quality and better effects.

Image product protein powder was the first to receive recognition

High quality protein "group logo

As a leader in the protein powder category, relying on decades of professional and market advantages in protein powder research, Tonkin Health has deeply participated in the development of "high-quality protein" group standards led by the Chinese Nutrition Society, and has taken the lead in upgrading the quality of protein powder products. The flagship Blue Can Diamond Protein Powder, which is popular on e-commerce, and the newly launched Platinum Protein Powder on pharmacy channels, both adopt a dual protein compound solution of animal and plant, fully utilizing the complementary advantages of amino acids. The PDCAAS scores have reached full marks, exceeding the threshold of the group logo, and have won the first batch of "High Quality Protein" group logo from the Chinese Nutrition Society. With the dual advantages of high protein content and high digestion utilization rate, these two benchmark products have been widely recognized in the market.

Among them, the flagship Blue Jar Diamond Protein Powder contains 119 grams of imported rare isolated whey protein per can (300 grams), with a protein content of up to 90% and a measured digestion rate of 97%. It also contains 22 grams of immune protein per 100 grams, accurately adapting to the advanced immune nutrition needs of the public. It has won the "Innovative Health Technology Product Award" at the Boao Health Food Science Conference FHE2026. This product complements the population of the special medical use full nutrition formula food "Meiyile", with a total sales of over 100 million yuan in the first half of the year. According to data from third-party e-commerce platforms, Tonkin Health protein powder continues to lead in the non muscle increasing protein powder category of mainstream e-commerce channels.

In terms of fish oil competition, Tonson Health, in collaboration with the China Nutrition and Health Food Association and other organizations, has led the drafting of the industry's first rTG fish oil group standard, establishing a quality grading system from two dimensions: "configuration" and "freshness". Its fish oil products also continue to consolidate their market share in various channels with the advantage of "high purity and first-class freshness". Online, represented by Jinzhuang Fish Oil, Tonson Beijian Fish Oil achieved dual growth in sales and market share, significantly outperforming the category average with a growth rate of 89%. Driven by the high content of EPA+DHA crystal pure fish oil, Tonson Beijian fish oil maintained double-digit growth in the pharmacy channel from February to May, and its market share continued to lead.

Multi dimensional "Vitamin Mineral Layered Lock Fresh" Formulation Innovation Driven Experience Upgrade

In addition to the strong performance of core categories, dosage form innovation is another important dimension of product strength for Tonson Health in the first half of the year. Thanks to the innovative technology of "vitamin mineral layering and freshness locking", last year's newly launched Tonson Health Multi Dimensional Double Layer Tablets continued to drive the growth of vitamin categories. In the first half of this year, Tonkin Health further improved its dual layer tablet product line matrix, accurately entering the field of workplace brain nutrition with choline enhanced B-complex dual layer tablets. Choline was separated from B-complex vitamins in layers, solving the pain point of high hygroscopicity and easy deactivation of choline, better preserving its nutritional activity. In its first month on the market, it topped the JD New Product List.

The new generation of Tonson Health's lysine K2 enhanced calcium application utilizes self-developed nanoscale emulsification technology, effectively improving the retention rate of vitamin D in the product and winning the FFC2026 Product Innovation Award. Thanks to the expansion of the children's nutrition supplement track and the advantage of the four-dimensional synergistic formula of "calcium+vitamin D+vitamin K2+zinc", Qigao Calcium has verified its sufficient growth potential through high repurchase and strong new product acquisition, driving category growth. According to data from third-party e-commerce platforms, the sales of children's calcium from Tonson Health increased by 116% year-on-year in the first half of the year.

In addition, Tonkin Health Red Core Coenzyme Q10 has increased its bioavailability to 151% through self emulsification technology. The above products collectively reflect the company's clear research and development philosophy: to improve nutrient absorption efficiency through formula optimization and dosage form innovation, and to build product barriers with "high absorption, true nutrition".

At the same time, Tonkin Health continues to match differentiated product matrices for different channels, with a year-on-year increase of 32% in revenue for supermarket channels and a growth rate of 101% for Sam's Club channels in the first half of the year. Based on insights into the consumption of Sam's Club members, Tonson Health teamed up with Sam's Club to create Yep Blood Orange flavored Iron Drink, which combines 12 milligrams of iron with 22 different fruits and vegetables. The refreshing taste precisely meets the health needs of Sam's Club customers and quickly became a hot selling item.

According to data from third-party e-commerce platforms, the market share of all brands under the umbrella of Tonkin Health remains stable in the top tier of e-commerce; The data from Zhongkang CMH also confirms that from January to May, the retail market share of all brand pharmacies under the umbrella of Tonkin Health continued to lead, consolidating its leading position. More than 10 flagship products including Blue Can Diamond Protein Powder, Qigao Calcium, and Yep Astaxanthin Magnetic Collagen have won industry awards, and their product innovation has been recognized by the industry.

Multi brand collaboration and impressive growth across multiple tracks

The new flagship product of the bone and joint health nutrition brand "Jianliduo", Jianliduo, has achieved a strong year-on-year growth of 618% in the first half of the year, relying on the advantages of high-dose glucosamine chondroitin sulfate and professional compounding, becoming the core engine of online channel growth. Offline, the first OTC sulfated glucosamine has covered 152 core chain pharmacies, forming a dual wheel driving pattern of treatment and maintenance synergy with VDS glucosamine, continuously consolidating its leading position in the category.

Australian professional micro ecological health brand Lifespace focuses on intestinal health and weight management, with the B420 series driving the growth of the weight management track. In the first half of the year, the B420 Ultra was successfully launched, driving the B420 series to achieve omnichannel sales of over 100 million in the first half of the year. At the same time, the new dosage form of super combustible B420 has successfully expanded its channels in pharmacies, further improving the growth pattern of all channels.

Doctor Nature, a professional infant nutrition brand, accurately matches the brain vision development needs of infants at different growth stages with the aging DHA strategy. Doctor Nature's DHA Algae Oil gel Candy (DHA+ARA) won the "Annual Super New Product Award" of Tmall Golden Baby Award and achieved double-digit growth. Another type of DHA targeted at young doctors at the age of children also maintained rapid growth, helping Doctor Nature win the top sales of DHA category on Tmall, JD, and Tiktok three platforms during 618.

Evidence based research on products reflects the professional advantage of "strong technology"

In addition to innovative upgrades in products and operations, the scientific research sector is also continuously breaking through. As of June 30, 2026, Tonkin Health has a total of 443 patent rights in China, including 152 invention patents for raw materials and formulas, and 20 patent rights overseas. In the first half of the year, 18 new scientific research papers were published.

In terms of product evidence, eight authoritative institutions including Fuwai Hospital of the Chinese Academy of Medical Sciences have jointly released the results of a thousand person, multi center randomized controlled clinical study on Tangchen Beijian Shubaining Natto Hongqu Capsules, confirming the lipid-lowering effect of Natto Hongqu Capsules in a large sample of Chinese population. In addition, the advantage of daily consumption of domestically top of the line silibinin is its health and safety benefits ® Milk thistle, kudzu root, and Danshen tablets have also been clinically proven to have liver protective value, providing solid scientific evidence for related products.

In the second half of the year, Tangshan Beijian will adhere to product strength as the core driving force, fully leverage technological advantages such as new dosage forms, new technologies, and heavy functions, explore OTC and specialty medicine tracks upwards, and tap into the needs of segmented populations downwards, in order to build a high-quality and sustainable development foundation with a long-term approach.

*The channel range refers to Tmall, JD, Tiktok, Kwai, and the data comes from Alibaba's business staff and strategy center; JD Business Intelligence, Data Access, and Feigua Data