Shanghai Fosun Pharmaceutical (600196) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 20.44 billion, up 4.75% year-over-year, driven by innovative drugs and international business growth.

• Net profit attributable to shareholders was RMB 1.72 billion, up 1.15% year-over-year; adjusted net profit (excluding non-recurring items) rose 19.09%.

• Cash flow from operations increased 13.59% year-over-year to RMB 2.42 billion.

• Innovative drug revenue grew 13.84% year-over-year, now 33.21% of pharma revenue; overseas revenue up 16.45%, now 31.21% of total.

Financial highlights

• Operating income: RMB 20.44 billion (+4.75% YoY); at constant FX, +7.17%.

• Net profit attributable to shareholders: RMB 1.72 billion (+1.15% YoY).

• Adjusted net profit (excl. non-recurring): RMB 1.14 billion (+19.09% YoY).

• Total assets: RMB 125.43 billion (+4.48% from year-end 2025).

• Basic/diluted EPS: RMB 0.65.

• Gross margin: 49.66%.

• R&D investment: RMB 3.25 billion (+25.66% YoY), with innovative drug R&D up 48.38%.

Outlook and guidance

• Focus on innovative drugs in oncology, immunology, and neurodegenerative diseases.

• Key clinical data readouts expected for AR1001, FXS7553, FXS6837, SRT-007, HLX10, HLX43 in H2 2026.

• Continued international expansion, supply chain optimization, and AI-driven operational efficiency.