Kelun Pharmaceutical's net profit attributable to parent company in 2025 is expected to decrease by 42.0% to 1.7 billion yuan.

MaticHoleFiller · 2026-04-06T19:31:01+00:00

Kelun Pharmaceutical's 2025 annual report shows that operating revenue was 18.51 billion yuan, a year-on-year decrease of 15.1%; net profit attributable to shareholders was 1.70 billion yuan, a decrease of 42.0% year-on-year. It is expected that declining market demand and the impact of centralized procurement policies have affected sales and profits. Although progress has been made in innovative drugs, increased R&D expenses have led to a decline in profits. The company will continue to optimize management to adapt to market changes.

MaticHoleFiller

2026-04-06 19:31:01

Abstract generation in progress

On April 2, Kelong Pharmaceutical (002422) released its 2025 annual report. The company’s operating revenue was RMB 18.51 billion, down 15.1% year over year; net profit attributable to shareholders was RMB 1.70 billion, down 42.0% year over year; net profit attributable to shareholders after deducting non-recurring items was RMB 1.60 billion, down 45.0% year over year; net operating cash flow was RMB 2.64B, down 41.2% year over year; EPS (fully diluted) was RMB 1.065.

Among them, in the fourth quarter, operating revenue was RMB 5.24 billion, up 4.2% year over year; net profit attributable to shareholders was RMB 501 million, up 7.8% year over year; net profit attributable to shareholders after deducting non-recurring items was RMB 450 million, down 1.4% year over year; EPS was RMB 0.3137.

As of the end of the fourth quarter, the company’s total assets were RMB 39.84B, up 6.7% from the end of the prior year; shareholders’ equity attributable to the parent company was RMB 24.22B, up 7.8% from the end of the prior year.

In its 2025 annual report, the company mentioned that during the reporting period, its principal operating businesses did not undergo any major changes, and its overall operating model remained stable. The company continues to focus on the pharmaceutical manufacturing industry, and is committed to the R&D, production, and sales of high-technology drug products. In the management discussion and analysis section, it emphasized that the decline in market demand for both infusion and non-infusion preparation products affected product sales volumes, and that centralized procurement (volume-based procurement) policies had a negative impact on profits.

In addition, the company has made some progress in the innovative drugs field, including the launch of new drugs such as Lurconatug Antibody (芦康沙妥珠单抗) and others. However, due to increased R&D expenses, overall profits declined year over year. Although the company faces challenges in the sales of antibiotic intermediates and APIs, its overall business is still in the process of adjustment to adapt to market changes. The company will continue to promote refined management of R&D and production to respond to industry competition and policy risks.

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