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CSPC Pharmaceutical Group (1093) investor relations material
CSPC Pharmaceutical Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary20 Nov, 2025
Executive summary
Revenue for the first nine months of 2025 was RMB 19,891 million, down 12.3% year-over-year, with gross profit declining 18.4% to RMB 13,049 million and gross margin dropping to 65.6%.
Reported profit attributable to shareholders fell 7.1% to RMB 3,511 million, while underlying profit dropped 23.0% to RMB 3,079 million, reflecting non-recurring items.
Basic earnings per share fell 4.1% year-over-year to RMB 30.72 cents.
R&D expenses increased 7.9% year-over-year to RMB 4,185 million, supporting a robust pipeline of innovative drugs and new formulations.
Over 200 innovative drugs and new formulations are in development, with 52 new drugs approved and significant clinical progress in oncology, immunity, and metabolism.
Financial highlights
Finished drugs revenue declined 17.2% year-over-year to RMB 15,450 million, while bulk vitamin C and functional food segments grew 22.3% and 12.4%, respectively.
Bulk products revenue rose 10.3% year-over-year to RMB 3,006 million, driven by vitamin C sales.
Oncology revenue dropped 56.8%, nervous system by 21.6%, and anti-infectives by 22.7% year-over-year.
Operating profit from finished drugs fell 23.6%, but bulk vitamin C operating profit rose 77.9%.
Gross profit for the period was RMB 13,049 million, down from RMB 15,985 million in the prior year.
Outlook and guidance
Multiple pivotal clinical trials and regulatory submissions are planned for 2025-2027, including BLA/NDA filings for key oncology and metabolic products.
Over 20 generic drugs are expected to be approved in 2025-2026, with 30 more in the research phase.
Continued focus on innovation and internationalization, with increased R&D investment and a robust pipeline of nearly 90 products in clinical trials.
Strategic collaborations and out-licensing agreements are expected to drive future growth and global expansion.
Mitigation for finished drugs policy impact?
R&D spend conversion to future value?
Out-licensing impact on long-term growth?
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Next CSPC Pharmaceutical Group earnings date
Q4 202519 Mar, 2026
Next CSPC Pharmaceutical Group earnings date
Q4 202519 Mar, 2026
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Frequently asked questions
CSPC Pharmaceutical Group Limited is a China-based pharmaceutical company engaged in the research, development, manufacturing, and distribution of pharmaceutical products. The company operates through multiple segments, including finished drugs, bulk drug manufacturing, and innovative drug development. Its product portfolio spans a range of therapeutic areas such as cardiovascular, oncology, anti-infectives, and central nervous system disorders. The company is headquartered in Shijiazhuang, China, and its shares are listed on the HKEX.
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