Despite a price recovery in the glove industry, major Chinese glove manufacturers generally fell into a vicious cycle of increased revenue but decreased profits in the first quarter of 2026.
The core reason lies in the exchange losses caused by the appreciation of the RMB. Intco Medical suffered nearly 400 million yuan in exchange losses in the first quarter, while Zhonghong Medical incurred approximately 30 million yuan in exchange losses and impairment provisions.
Industry Implications: Exchange rate fluctuations are a significant variable in glove export trade. Shanghai Baion Technology Co., Ltd effectively mitigates exchange rate risks and ensures price stability for its customers through flexible pricing mechanisms and a diversified market layout (covering Europe, South America, and other regions).