Zhejiang Huahai Pharmaceutical (600521) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 15.86% YoY to RMB 7.425bn; attributable net income increased 178.61% to RMB 1.060bn.

• Q3 revenue grew 32.75% YoY to RMB 2.512bn; attributable net income was RMB 288.8m, versus a loss in the prior-year quarter.

Financial highlights

• 9M operating profit was RMB 1.246bn versus RMB 555.2m YoY; total profit rose 134.41% to RMB 1.287bn.

• 9M adjusted for non-recurring items, attributable net income was RMB 702.0m, up 159.96% YoY; Q3 adjusted income was RMB 275.7m.

• 9M operating cash flow increased 134.25% to RMB 1.528bn; Q3 operating cash flow rose 52.13% YoY to RMB 430.2m.

Outlook and guidance

• R&D priorities remain focused on products with competitive strengths, advancing innovative drugs and high-end complex generics and API projects with more mature development progress.