China National Pharmaceutical Group's revenue in 2025 slightly decreased by 1.29% to 73.42B yuan, with net profit soaring by 76.80%

Blue Whale News, April 1: On April 1, Guoyi Consistent released its 2025 performance report. The data show that in 2025, the company achieved operating revenue of 73.42B yuan, down 1.29% year over year; net profit attributable to shareholders was 1.14B yuan, up 76.80% year over year; and non-recurring profit and loss (after deducting) net profit was 1.1B yuan, up 88.53% year over year.

During the reporting period, the asset impairment provisions recognized for goodwill and intangible assets decreased by 686 million yuan, which constituted the core contribution driving profit growth. In the same period, the company closed 1,140 directly operated stores, reducing fixed costs such as labor and rent, and compressed selling expenses to 4.85B yuan, down 9.58% year over year, further strengthening the effect of profit release.

The total amount of non-recurring gains and losses was 40.2311 million yuan, accounting for 3.55% of net profit attributable to shareholders, at a relatively low level. Among them, government subsidies were 38.2549 million yuan and gains from debt restructuring were 21.1703 million yuan; together, the two totaled 59.4252 million yuan.

By quarter, in the fourth quarter of 2025, the company recorded operating revenue of 1.83B yuan, net profit attributable to shareholders of 179 million yuan, and non-recurring profit and loss (after deducting) net profit of 173 million yuan.

Net cash flow from operating activities was 1.64B yuan, down 49.91% year over year. Mainly affected by the dual impact of shrinking sales scale and delayed collections from downstream customers, accounts receivable collections decreased year over year, leading to a corresponding decline in cash received from sales of goods.

In terms of revenue composition, pharmaceutical revenue accounted for 87.16%, medical device consumables revenue accounted for 10.48%, and the combined share of the two increased to 97.64% of total revenue. The proportion of domestic sales remained at 100%; no overseas market layout was formed, and the regional structure did not undergo any substantive change.

The allocation of R&D resources contracted significantly. R&D spending fell to 19.9869 million yuan, down 18.60% year over year; the number of R&D personnel decreased from 117 to 62, a drop of 47.01%. The company stated that it would direct resources toward the execution of incremental businesses that have already obtained qualifications, rather than making technology investments in advance.

Regarding dividends, the company plans to use 556.57M shares as the base, distributing cash dividends of 6.16 yuan per 10 shares (including tax), for a total cash payout of 343 million yuan; at the same time, it will distribute 1 bonus share per 10 shares (including tax), for a total bonus share distribution of 55.6565 million shares.