Yifeng Pharmacy Chain (603939) Q4 2025 earnings summary

Executive summary

• Operating revenue reached CN¥24.43 billion, up 1.54% year-over-year; net profit attributable to shareholders rose 9.81% to CN¥1.68 billion.

• Net profit after non-recurring items increased 7.65% year-over-year to CN¥1.61 billion.

• Store network expanded by a net 147 stores, totaling 14,831, with 4,313 franchise stores.

• Online sales revenue was CN¥2.99 billion, with O2O and B2C channels showing strong growth.

• Digital transformation, supply chain optimization, and talent development were key operational focuses.

Financial highlights

• Gross profit margin for main business was 37.67%, down 0.69 percentage points year-over-year.

• Basic EPS was CN¥1.38, up 9.52% year-over-year; weighted average ROE was 14.98%.

• Net cash flow from operating activities was CN¥3.36 billion, down 20.44% year-over-year.

• Total assets at year-end were CN¥27.45 billion, down 1.87% from the previous year.

• Equity attributable to shareholders increased 8.47% to CN¥11.63 billion.

Outlook and guidance

• Industry trends include aging demographics, policy-driven prescription outflow, and rising chain penetration.

• Strategic focus remains on regional expansion, digital innovation, and transformation of pharmacies into community health stations.

• Continued investment in digital operations, supply chain, and talent development to drive sustainable growth.