Jyong Biotech (MENS) reports H1 2025 $1,252k net loss amid higher assets

Rhea-AI Filing Summary

Jyong Biotech Ltd. reported unaudited interim results for the six months ended June 30, 2025, showing a net loss of $1,252k, slightly improved from $1,326k a year earlier. Operating expenses fell to $816k from $951k, mainly due to lower research and development spending, while interest income rose to $24k and interest expenses were $417k.

Total assets increased sharply to $37,671k as of June 30, 2025 from $6,366k at December 31, 2024, driven by new short-term investments of $16,875k and a $15,000k loan receivable from a shareholder. Cash and restricted cash together remained modest. Total liabilities rose to $60,143k, including higher short-term bank loans of $22,436k and long-term loans from related parties of $7,195k.

The company continued to report a shareholders’ deficit, although it narrowed to $(22,472k) from $(36,519k), helped by higher additional paid-in capital of $28,263k. Basic and diluted net loss per share stayed at $(0.02), on a weighted average of about 71,758k shares.

Insights

Equity analyst

Loss is stable, balance sheet expands with new investments and related-party loan.

Jyong Biotech’s interim figures show a relatively stable income statement but a dramatically larger balance sheet. Net loss for the first half of 2025 was $1,252k, only slightly better than $1,326k a year earlier, and operating expenses declined to $816k, suggesting some cost control, particularly in research and development.

On the balance sheet, total assets climbed to $37,671k by June 30, 2025, from $6,366k at year-end 2024, mainly due to new short-term investments of $16,875k and a $15,000k loan receivable from a shareholder. Liabilities also increased, with short-term bank loans rising to $22,436k and long-term loans from related parties to $7,195k, while guarantee liabilities stayed high at $19,625k.

The shareholders’ deficit narrowed to $(22,472k) as additional paid-in capital increased to $28,263k, but equity remains negative. Future disclosures in company filings may clarify how the new funding structure, related-party loan, and higher debt levels affect ongoing operations and financing flexibility.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number: 001-42701

Jyong Biotech Ltd.

23F-3, No. 95, Section 1, Xintai 5^th Road,
Xizhi District, New Taipei City,
Taiwan, 221

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

Explanatory Note

Jyong Biotech Ltd, a Cayman Islands exempted company (the “Company”), is hereby furnishing its unaudited interim balance sheet and unaudited interim statement of operations and comprehensive income (loss) for the six months ended June 30, 2025. The condensed consolidated financial statements furnished herein are unaudited and prepared by management of the Company. The financial statements are attached as Exhibit 99.1 to this report of foreign private issuer on Form 6-K.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Unaudited Interim Condensed Consolidated Balance Sheet as of June 30, 2025, and Unaudited Interim Condensed Consolidated statement of operations and comprehensive income (loss) for the Six months Ended June 30, 2025 and 2024.

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Jyong Biotech Ltd.
Date: January 9, 2026	By:	/s/ Fu-Feng Kuo
	Name:	Fu-Feng Kuo
	Title:	Chief Executive Officer

2

Exhibit 99.1 

JYONG BIOTECH LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousand US Dollars, except share and per share data)

		As of December 31, 2024				As of June 30, 2025
		Audited				Unaudited
ASSETS
Current Assets
Cash		$	98			$	132
Restricted cash			3				3
Short-term investments			-				16,875
Prepayments and other current assets			105				153
Total current assets			206				17,163
Property and equipment, net			3,049				3,358
Operating right-of-use assets			137				94
Deferred offering costs			934				-
Restricted asset			2,034				2,049
Loan receivable from shareholder			-				15,000
Other non-current assets			6				7
Total non-current assets			6,160				20,508
TOTAL ASSETS		$	6,366			$	37,671
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities
Short-term bank loans		$	7,225			$	22,436
Notes and accounts payable			3				3
Accrued expenses			1,203				991
Accrued expenses due to related parties			147				219
Current portion of long-term bank loans			57				349
Operating lease liabilities due to related parties-current			159				131
Other current liabilities			3,292				3,366
Other current liabilities due to related parties			41				59
Total current liabilities			12,127				27,554
Long-term loan from related parties			5,515				7,195
Long-term loan from third parties			3,131				3,131
Long-term bank loans, net of current portion			2,032				1,945
Operating lease liabilities due to related parties – non-current			16				7
Other non-current liabilities			58				58
Other non-current liabilities due to related parties			628				628
Guarantee liabilities			19,378				19,625
Total non-current liabilities			30,758				32,589
TOTAL LIABILITIES			42,885				60,143
Commitments and contingencies
Shareholders’ deficit
Ordinary shares, $0.00001 par value; 5,000,000 thousand shares authorized; 73,361 thousand and 76,028 thousand shares issued and outstanding as of December 31, 2024 and June 30, 2025, respectively			1				1
Additional paid-in capital			11,805				28,263
Treasury shares, 1,794 thousand shares as of December 31, 2024 and June 30, 2025			(16,366	)			(16,366	)
Accumulated deficit			(33,080	)			(34,332	)
Accumulated other comprehensive income (loss)			1,121				(38	)
Total shareholders’ deficit			(36,519	)			(22,472	)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT		$	6,366			$	37,671

JYONG BIOTECH LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(in thousand US Dollars, except share data in thousands and per share data)

		For the six months ended June 30,
		2024				2025
		Unaudited				Unaudited
Operating expenses
Research and development		$	(499	)		$	(367	)
Selling and marketing			(21	)			(20	)
General and administrative			(431	)			(429	)
Total operating expenses			(951	)			(816	)
Loss from operations			(951	)			(816	)
Other incomes (expenses):
Interest income			6				24
Interest expenses			(448	)			(417	)
Other gains (losses), net			67				(43	)
Total other expenses, net			(375	)			(436	)
Loss before income tax			(1,326	)			(1,252	)
Income tax expense			-				-
Net loss			(1,326	)			(1,252	)
Other comprehensive income (loss)
Foreign currency translation adjustments, net of nil tax			473				(1,163	)
Unrealized gain on short term investments, net of nil tax			-				4
Total other comprehensive income (loss)			473				(1,159	)
Total comprehensive loss		$	(853	)		$	(2,411	)
Net loss per share:
Basic and Diluted		$	(0.02	)		$	(0.02	)
Weighted average shares outstanding (in thousands):
Basic and Diluted			71,567				71,758

FAQ

What was Jyong Biotech (MENS) net loss for the six months ended June 30, 2025?

For the six months ended June 30, 2025, Jyong Biotech reported a net loss of $1,252k, compared with a net loss of $1,326k for the same period in 2024.

How did Jyong Biotechs operating expenses change in the first half of 2025?

Total operating expenses decreased to $816k in the first half of 2025 from $951k in the first half of 2024, with research and development expenses falling from $499k to $367k.

What is Jyong Biotech (MENS) total asset and liability position as of June 30, 2025?

As of June 30, 2025, total assets were $37,671k, while total liabilities were $60,143k, reflecting higher short-term bank loans and related-party loans alongside new short-term investments and a shareholder loan receivable.

Did Jyong Biotech reduce its shareholders deficit by June 30, 2025?

Yes. Shareholders deficit improved to $(22,472k) as of June 30, 2025 from $(36,519k) at December 31, 2024, mainly due to an increase in additional paid-in capital to $28,263k.

What was Jyong Biotechs net loss per share for the first half of 2025?

Basic and diluted net loss per share for the six months ended June 30, 2025 was $(0.02), based on a weighted average of 71,758k shares outstanding.

How did other comprehensive income affect Jyong Biotech in the first half of 2025?

Other comprehensive income (loss) for the six months ended June 30, 2025 was a loss of $1,159k, mainly from foreign currency translation adjustments of $(1,163k), partly offset by an unrealized gain on short-term investments of $4k.