Zhangzhou Pientzehuang Pharmaceutical (600436) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 was RMB 4.57 billion, down 14.98% year-over-year; net profit attributable to shareholders was RMB 1.09 billion, down 24.22%.

• Cash flow from operating activities increased 332.58% year-over-year to RMB 1.62 billion.

• Proposed interim dividend of RMB 10.70 per 10 shares, totaling RMB 645.55 million, representing 59.06% of net profit.

Financial highlights

• Operating income: RMB 4.57 billion, down 14.98% year-over-year.

• Net profit attributable to shareholders: RMB 1.09 billion, down 24.22% year-over-year.

• Operating cash flow: RMB 1.62 billion, up 332.58% year-over-year.

• Basic and diluted EPS: RMB 1.81, down 24.27% year-over-year.

• Gross margin: 39.91%, down 0.55 percentage points year-over-year.

Outlook and guidance

• Management expects continued industry policy tightening and market competition.

• Focus remains on core pharmaceutical business, product innovation, and channel expansion.

• Ongoing investment in R&D and digital transformation to drive future growth.