BEIJING, CHINA – Media OutReach Newswire – 13 August 2026 – Recently, the Hinggan League Agricultural, Cultural and Tourism Consumption Carnival, themed "Taste the Best of Hinggan Discover the Grasslands in Beijing," was officially held in Beijing.
Hinggan League Hong'an Damiao Cattle and Sheep Trading Market
As a grand industry promotion event for buyers, cultural and tourism professionals, and media outlets from across the country, the carnival showcased a wide range of Hinggan League's distinctive eco-friendly agricultural and livestock products. Through industry stories, product tastings, business matchmaking, and the launch of cultural and tourism routes, the event highlighted the tangible results of Hinggan League's efforts to leverage its pristine natural ecology, modern agricultural technologies, and full-chain industrial development to promote green development and increase local incomes. It also served as a bridge connecting Hinggan League's premium ecological products with markets across China and overseas.
At the event, Hinggan League's beef cattle and rice industries were among the key highlights, attracting considerable attention from numerous market players attending for exchanges and potential partnerships. Located in the golden latitude belt for agriculture and animal husbandry, Hinggan League enjoys exceptional natural advantages. In the early stages of industrial development, the league made coordinated plans for two key industries—beef cattle and rice—and launched an industrial upgrade covering the entire value chain, from breeding stock and forage to farming, processing, and branding.
Breeding is the "chip" of the beef cattle industry. In recent years, Hinggan League has vigorously introduced national-level cattle breeding technology enterprises and established its first national-level bull breeding station. More than 5.5 million doses of frozen semen from high-quality breeding cattle, including Simmental and Angus, are produced annually and distributed to various parts of China. At the same time, the region has continued to improve its technical service system. Through a tiered extension-agent system and on-site guidance in rural communities, local experts are helping herders adopt more scientific cattle-raising practices. In terms of forage supply, the Forage Industry Processing, Logistics and Trading Park in Keyouzhong Banner, Hinggan League, has officially begun operations, collecting crop straw from surrounding farmland and processing it into high-quality forage. Research teams have also successfully developed palatable fermented feed using microbial fermentation technology, substantially reducing the average daily feeding cost per head of cattle and securing the "first mile" of the industry chain.
At the sales and branding end, Hinggan League's beef cattle industry is making a comprehensive transition from "selling live cattle" to "selling brands." The region has not only cultivated large-scale meat processing enterprises and developed more than 100 product categories for e-commerce and foodservice channels nationwide, but has also established a livestreaming e-commerce operations center and set up marketing centers and forward warehouses in the Beijing-Tianjin-Hebei region. With the official launch of regional public brands such as "Keyouzhong Banner Beef," a complete modern beef cattle industry chain is now taking shape.
As with beef, the key to the development of Hinggan League rice also lies in the full value chain from seed to table. The fragrant, glutinous, and sweet taste of Hinggan League rice comes from its pristine ecological foundation—clean water, clean soil, and clean air. Local research teams have been working on the front lines of rice breeding for more than 30 years, independently developing and registering 21 high-quality rice varieties and helping thousands of farming households increase their incomes each year.
10,000-Mu Sightseeing Rice Fields in Shuangjin Gacha, Duerji Town, Hinggan League
With quality seeds in place, farming methods are also undergoing profound changes. In Duerji Town, Keyouzhong Banner, local rice cooperatives have adopted a model of "unified planting, unified processing, and unified sales," while developing their own brands. By combining contract farming with online and offline sales, they have secured reliable sales channels and helped cooperative members achieve significant income growth. In Zhalaite Banner, meanwhile, entrepreneurs who returned to their hometowns took the lead in introducing integrated fertigation technology using drip irrigation beneath plastic film, enabling rice to be grown on "dry land" and achieving both ecological and economic benefits, including water savings of 700 cubic meters per mu. With rice now entering a critical period for field management, agricultural technicians and farmers are busy carrying out scientific foliar nutrient supplementation, applying nitrogen fertilizer appropriately, and conducting regular field inspections for pests. Through precise water and fertilizer management and green pest and disease control, they are laying a solid foundation for stable high yields in the autumn harvest.
From a quality seed to a premium cut of beef, and from a bowl of rice to a regional brand, the cattle and rice industries may appear to follow two separate paths, but in reality they are part of a single coordinated strategy. Under Hinggan League's overall planning and coordination, the concentrated beef cattle breeding and finishing base in Zhalaite Banner has brought in a state-owned enterprise to operate the facility, significantly increasing collective village income. Meanwhile, 38 enterprises in Hinggan League authorized to use the "Hinggan League Rice" brand have all adopted the nine standards established for the brand, driving the brand value beyond RMB 31 billion.
Winds sweep across the Horqin Grassland, sending waves through the grass and bending the heavy ears of rice. Moving from selling raw grain and live cattle to selling brands and quality, Hinggan League's more than a decade of dedicated efforts have transformed the grassland's ecological advantages into industrial strengths and its resource advantages into greater income for local communities, making "cattle and rice" a solid pillar of prosperity for the people and development across the league.
The issuer is solely responsible for the content of this announcement.
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HONG KONG SAR - Media OutReach Newswire – 13 August 2026 – Bora Pharmaceuticals ("Bora"; TWSE: 6472; OTCQX: BORAY) today announced its financial results and operational highlights for 2Q2026 and provides full year outlook update.
2Q26 Business and Financial Highlights
- Bora delivered historically record-high quarterly revenues of NT$5,889 million in 2Q26, up 47.2% quarter-over-quarter driven by broad-based operational momentum, with basic EPS of NT$4.36.
- CDMO revenue growth and increased site utilization rates, along with strong growth in the rare disease business and a return to growth for generics business of the Pharma Sales operations lifted group profitability, with gross margin expanding to 41.3% from 36.0% and operating margin reaching 16.8% from 10.2% in 1Q26. Excluding one-time costs related to the Weider Global Nutrition transaction, operating margin was approximately 18%.
- CDMO's strong backlog of US$317 million as of end of 2Q26, another historical high following a strong quarter, signals that Bora's core business continued to perform with higher demand.
- Pharma Sales' rare disease franchise continues to show double digit sequential growth and the increased demand from government channels during the quarter with stabilized pricing in DLS has lifted the generics business back to normal.
- Reflecting Bora's recent increase in investment in Sunway Biotech, from 35.97% to 42.27% and subsequent acquisitions of Weider Global Nutrition's, the Company has introduced "Consumer Healthcare (CHC)" as a new segment in its revenue mix disclosure beginning this quarter. In 2Q26, revenues from CHC were NT$824.76 million in 2Q26, a 354.4% increase QoQ and 234.3% YoY, and contributed to 14% of the Bora Groups consolidated revenues, an all-time high.
- Cash-on-hand reached an all-time high of NT$8,431 million as the Company was preparing for MacroGenics Inc.'s Rockville facility acquisition.
- The Company has kicked off a group-wide AI in Manufacturing, BORA AIM, program aimed at improving process efficiency across sites, spanning engineering, quality and production. Bora has also signed a partnership with Insilico Medicine for AI drug discovery. The first 6 months will focus on beta version testing of the Bora AIM agents and AI champions to drive process consolidation.
- Share capital increased 0.3% during the quarter from employee stock option exercise.
Mr. Bobby Sheng, Chairman of Bora Group, stated, "We are pleased to announce Bora Group's return to strong operating profits and double to triple-digit growth on all key margins sequentially, as well as demonstrate that our soft 1Q26 performance was anomalous rather than structural. Our impressive sequential improvement was driven entirely by strong demand from both our CDMO and Pharma Sales businesses, with 2Q26 manufactured batches reaching 0.38 billion doses, led by increased commercial production in Maple Grove and Zhunan sites and a full quarter of operations in the Maryland injectable facility, while our flagship products DLS and VIGAFYDE® in Pharma Sales continues to secure leading market share.
Our focus right now is execution. CAPEX investments in our mature sites, including facilities in Taiwan and in Canada, continue to deliver operational leverage driven by gross margin expansion, and our recently acquired oral solid dose facility in Maple Grove continues to show stellar and impactful demand as we sign more projects. Our 12-month rolling backlog is at historic high in almost all our sites, despite projected manufacturing delays at our Maryland injectable facility as we diligently respond to FDA audit observations from a recent audit. Bora Group's commitment to the fast-growing Biologics manufacturing industry took another big step as we look to integrate 12,000 liters of capacity, and 3 commercial products from our Rockville facility, as well as see revenue recognition from this acquisition starting Q3. As Bora's CDMO footprint expands in the US, we continue to capture durable, high-value demand as customers increasingly prioritize supply security and onshore capacity.
In addition, we are seeing sustained growth and improved gross margins in the Vigabatrin franchise, our most important, rare disease franchise, thanks to renegotiations with our partner vendors. Accelerated state and government orders for generics products increased 2Q26 revenues and 6 new generics launches have also supported a more diversified generics portfolio. Together, the advancement in rare disease franchise and generics business has positioned Bora's Pharma Sales business, operating under the name Upsher-Smith, in a far stronger state than it was just a quarter ago.
As announced in July, we are excited to be developing a group-wide AI in Manufacturing program, BORA AIM, aimed at improving process efficiency across sites, spanning engineering, quality and production. We also announced a partnership with Insilico Medicine to enhance our understanding of AI drug discovery and create more customized AI manufacturing platforms for AIDD small molecules. In the next 12 months, Bora Group will be ready to showcase some exciting AI-enabled CDMO platforms that will truly add value to our partners and sharpen the overall competitive advantages of Bora Group.
As our momentum carries Bora into the second half of the year, we expect margins of our flagship products in Pharma Sales and CHC businesses to hold steady on continuous revenue growth, and improved efficiencies in the CDMO business in addition to consolidation of new revenues from the Rockville facility."
2Q26 Operational Achievements & 2026 Outlook
Global CDMO Operations
Revenues increased 30.3% year-over-year and 29.0% quarter-over-quarter including internal orders, and 33.0% and 40.2% external orders only, or NT$2,116.4 million. The growth was primarily driven by a strong rebound in injectables following the semi-annual maintenance in 1Q26 and same period last year, and demand acceleration overall as we continue to meet the increasing backlog.
CDMO business also signed a record high US$378.2 million in total external wins. Highlighted by a 10+2-year, multi product commercial contract in our Maple Grove facility with a new top-20 pharma company, and 14 new molecules from pre-commercial programs from multiple new customers. Bora is confident in its mid- to long-term growth trajectory as pharma and biotech companies continue to look for US based CDMOs as a part of their efforts to onshore US production and improve supply chain resilience.
During the quarter, 0.38 billion doses, or 109 molecules, were developed and manufactured. Contribution from the top 20 global pharmaceutical companies stood at roughly 30% and should increase drastically in the next 8 quarters.
Looking at 3Q26, the Company is highly optimistic, with our backlog having climbed to an unprecedented level even after a strong quarter of manufacturing output. We do anticipate some timing shifts in revenue recognition related to scheduled semi-annual maintenance at our Maryland injectable site, alongside targeted quality-enhancement activities in connection with observations on passive RABS (Restricted Access Barrier System) line received from an FDA audit that took place 2Q26. However, there has been no reduction in total commercial batch productions in 2026 as we speak and several existing clients have initiated transfers to the FlexPro isolator filling lines. RFP activity has risen, with the first GMP PPQ campaign starting in August. On the newest, isolator-based AST lines, factory acceptance testing (FAT) is planned for Q326, with qualification to follow in 2027, expanding our ability to onboard small-scale isolator programs, including tech transfers.
On biologics, Rockville facility revenue recognition started in the first month of 3Q26 and the site has confirmed that it is on track to deliver batch production volumes ahead of last year's run rate of around 13 batches for the remainder of 2026. We anticipate one-time transaction costs from this acquisition of approximately 3% of the purchase price including legal and FA fee and transition related expenses as stated in the Transition Service Agreement. The Rockville acquisition expands biologics capacity and brings integrated drug substance (DS) and drug product (DP) capabilities under one roof, strengthening our end-to-end service offering and attracting more inbound opportunities and higher value conversion with cross selling opportunities for our injectable business.
For our strategic investment in Tanvex Biopharma, the main Bora Biologics platform company, although the business still operates at a loss, Tanvex has built a strong presence in international conferences, especially Bio International in the US in June. We have seen a positive uptick in pipeline from leading biotechs and heavy weight biopharmas, and stable demand for early-stage PD programs in Zhubei. The Rockville acquisition is expected to orchestrate and accelerate opportunities for Tanvex in the coming quarters.
Pharma Sales Operations
Revenues decreased 2.7% year-over-year and increased 30.4% quarter-over-quarter, arriving at NT$2,934.04 million in 2Q26. The year-over-year decrease was mainly due to a product rationalization program in 2025 that lead to the withdrawal of a basket of legacy generics products.
During the quarter, specialty and brand came in strongly, up 58.8% for the quarter QoQ and displayed almost 50% growth against 2025 run rate. The rare-disease Vigabatrin franchise demand is robust, and our continuous investment in the segment has resulted in much broader patient access compared to when we acquired Upsher-Smith 28 months ago. On coverage, we are on track to achieve year-end formulary goal of >50%, supported by more regional plans and strong physician adoption as they gain experience with VIGAFYDE®. The Company has also renegotiated contracts with suppliers, leading to improved gross margins for the franchise during the quarter and expects full economic contribution starting 3Q26. Simultaneously, the Company out-licensed its non-core assets, Stiripentol generics and 505(b)(2), during the quarter, fully capturing the economic value of these drug assets to enable fueled and renewed focus on core specialty and brand business.
The generics business returned to stability as Upsher-Smith successfully defended flagship product DLS. High value generics advanced 20.6% sequentially from downstream restocking, narrowing the year-to-date YoY decline against 2025 run rate to high teens.
Having executed our way through specialty and brand business growth and generics portfolio optimization, we have returned to the 2023–2024 peaks of Pharma Sales performance but with healthier and more resilient operating profits. As of now, Upsher-Smith sees 6 ANDA pending approval.
CHC Operations
Bora Group has increased holdings of Sunway Biotech to 42.27% through a private placement at $NT 596 million. Subsequently, Sunway completed the acquisition of Weider Global Nutrition (WGN), a global nutritional supplements company with offices in the US, Spain, and Germany and products sold in over 60 countries. Benefitting from the consolidation of WGN that started in May, Consumer Health business totaled NT$824.76 million in 2Q26, a 354.4% increase QoQ and 234.3% YoY. Focusing on longevity and sports nutrition, WGN's distribution strength is expected to meaningfully contribute to the CHC business in 2026 and beyond and shall deliver vertical-integration synergies to Sunway's existing ingredients' manufacturing operations. Together, the WGN acquisition is expected to catapult Sunway Biotech into a leading global nutritional supplements company and substantially accelerate top and bottom-line improvements in the future.
Recent Investor Conference
Bora will host English online earnings call at 8:00 a.m. Taiwan time on Aug. 14th, 2026. The event will cover the Company's 2Q26 financial and business results and 2H26 outlook.
English Online Earnings Presentation Link: https://teams.microsoft.com/meet/225504163505748?p=UyyncWl1CnOzjBCNKD
Bora will participate in Goldman Sachs 2026 CDMO day in Singapore in Sept. For 1:1 meetings with management, please contact your GS representative.
Bora 2026 Earnings Schedule
Q3 2026: Expected in the 2nd week of Nov 2026
Q4 2026: Expected in the 2nd week of Mar 2027
Hashtag: #BoraGroup
The issuer is solely responsible for the content of this announcement.
About Bora
Founded in 2007, Bora Pharmaceuticals ("Bora" or "the Company", 6472.TW and BORAY.OTCQX) is a leading pharmaceutical services company with a vision and goal of "Contributing to Better Health All Over the World". Operating under a "Dual Engine" model that integrates CDMO and commercial expertise, we empower pharmaceutical and biotech partners to optimize product development, accelerate launches, and scale supply to meet global patient needs. At the same time, we actively broaden R&D and sales infrastructure, focusing on niche and rare disease markets to improve patients' quality of life.
By investing in talent, infrastructure, and biologics expansion, Bora continues to transform operations and achieve sustainable growth. Committed to making success "certain," Bora sets new standards in the pharmaceutical and CDMO industries.
For more, please visit:
https://www.bora-corp.com
https://www.boracdmo.com
Disclaimer:
This document and the accompanying information may contain forward-looking statements. All statements regarding the company's future business operations, potential events, and prospects (including but not limited to forecasts, targets, estimates, and operational plans) are considered forward-looking statements unless they refer to factual occurrences. Forward-looking statements are subject to various factors and uncertainties that may cause significant differences from actual results, including but not limited to price fluctuations, actual demand, exchange rate variations, market share, competitive conditions, changes in the legal, financial, and regulatory framework, international economic and financial market conditions, political risks, cost estimates, and other risks and variables beyond the company's control. These forward-looking statements are based on current predictions and assessments, and the company disclaims any responsibility for future updates.
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