CHINA NATIONAL MEDICINES CORP (600511) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of 2025 reached ¥25.63 billion, up 3.54% year-over-year; net profit attributable to shareholders was ¥948.55 million, down 5.19% year-over-year.

• The company maintained a leading position in pharmaceutical distribution, with strong performance in hospital direct sales, narcotic and psychotropic drug distribution, and national distribution channels.

• Industrial segment faced pressure from centralized procurement and price cuts, leading to declines in both revenue and profit.

• Enhanced internal management, compliance, and risk control, with continued investment in technology and innovation.

Financial highlights

• Operating income: ¥25.63 billion, up 3.54% year-over-year.

• Net profit attributable to shareholders: ¥948.55 million, down 5.19% year-over-year.

• Basic and diluted EPS: ¥1.2572, down 5.19% year-over-year.

• Operating cash flow: -¥1.51 billion, compared to -¥1.07 billion in the prior year.

• Total assets: ¥34.80 billion; equity attributable to shareholders: ¥17.47 billion.

Outlook and guidance

• The company will continue to focus on pharmaceutical distribution, enhance compliance, and pursue innovation and efficiency.

• Ongoing efforts to optimize capital structure and maintain stable operations amid industry reforms and market competition.