Nuo Cheng Jianhua’s annual revenue is 2.4 billion: net profit of 640 million King Bridge clears out inventory or cashes out 2 billion

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Source: Lei Di

Lei Di Network Lei Jianping April 7

Nuo Cheng Jianhua Pharmaceutical Co., Ltd. (Company code: 688428, Company abbreviation: Nuo Cheng Jianhua) recently released its financial report as of December 31, 2025. The report shows that Nuo Cheng Jianhua’s revenue in 2025 was 2.38B yuan, a 135.27% increase from 1.01B yuan in the same period last year;

Among them, Nuo Cheng Jianhua’s drug sales revenue in 2025 was 1.44B yuan, a 43.43% increase from 1.01B yuan in the same period last year, mainly due to the continued increase in Obinutuzumab sales, new sales of Tansimotumab, and revenue from licensing agreements recognized this year.

Nuo Cheng Jianhua’s net profit in 2025 was 642 million yuan, compared to a net loss of 441 million yuan in the same period last year; net profit after non-recurring gains and losses was 553 million yuan, compared to a net loss of 440 million yuan last year.

Nuo Cheng Jianhua’s revenue in the fourth quarter of 2025 was 1.26 billion yuan, with a net profit of 707 million yuan, and net profit after non-recurring gains and losses was 689 million yuan.

King Bridge Liquidation or Cash-Out of 2 Billion

As of December 31, 2025, Hillhouse’s HHLR and its concerted actors held 11.8251% of shares, Sunny View Holdings and the family of Renbin Zhao (Zhao Renbin, Shi Yigong) held 8.2066%, Sunland BioMed Ltd and the Cui Jisong (Cui Jisong) family held 7.1976%;

As of December 31, 2025, Nuo Cheng Jianhua’s shareholding structure is as follows:

China Construction Bank Corporation - Harvest Fund’s Precision Medical Flexible Allocation Mixed Securities Investment Fund held 0.6888%, Chen Xiaofa held 0.4226%, China Construction Bank Corporation - ICBC Credit Suisse Frontier Medical Stock Securities Investment Fund held 0.3967%, China Construction Bank Corporation - Huatai-PineBridge Innovative Medical Theme Mixed Securities Investment Fund held 0.3302%.

China Merchants Bank Co., Ltd. - Huatai-PineBridge Medical Services Flexible Allocation Mixed Securities Investment Fund held 0.3269%, Logan Long held 0.315%.

As of September 30, 2025, Hillhouse’s HHLR and its concerted actors held 11.8251%, Sunny View Holdings and the family of Renbin Zhao (Zhao Renbin, Shi Yigong) held 8.2066%, Sunland BioMed Ltd and the Cui Jisong (Cui Jisong) family held 7.1976%, King Bridge Investments Limited and its concerted actors held 6.9176%, China Construction Bank Corporation - Harvest Fund’s Precision Medical Flexible Allocation Mixed Securities Investment Fund held 0.6888%, Bank of Communications - Wanjia Industry Preferred Mixed Fund (LOF) held 0.5667%;

As of September 39, 2025, Nuo Cheng Jianhua’s shareholding structure is as follows:

Bank of China - Ping An Medical and Health Hybrid Securities Investment Fund held 0.4889%, China Construction Bank - ICBC Credit Suisse Frontier Medical Stock Securities Investment Fund held 0.4533%, China Construction Bank - Huatai-PineBridge Innovative Medical Theme Mixed Securities Investment Fund held 0.3888%.

Comparing the data, King Bridge Investments Limited and its concerted actors have exited the top ten shareholders, with their shareholding ratio dropping below 0.3%, possibly having fully divested.

As of today’s A-share market close, Nuo Cheng Jianhua’s stock price is 29.68 yuan, with a market value of 52.4 billion yuan. Conservatively estimating, King Bridge has cashed out over 2 billion yuan.