Tuoxin Pharmaceutical (301089) 2025 Annual Report Brief Analysis: Net profit decreased by 250.32% year-on-year

NightAirdropper · 2026-03-29T04:24:58+00:00

Recently, TuoXin Pharmaceutical released its 2025 annual report, showing that the company's net profit decreased by 250.32% year-on-year, with total operating revenue of 378 million yuan, down 10.28% year-on-year. Various financial indicators performed poorly, with gross profit margin and net profit margin both declining significantly. Selling and administrative expenses accounted for 27.86% of revenue. Analysis indicates that the company's business model is relatively fragile, and historical investment returns have been average.

NightAirdropper

2026-03-29 04:24:58

Abstract generation in progress

According to data compiled from public sources by Securities Star, TuoXin Pharmaceutical (301089) has released its 2025 annual report in the recent period. According to the financial report, TuoXin Pharmaceutical’s net profit fell 250.32% year over year. As of the end of this reporting period, the company’s total operating revenue was 378 million yuan, down 10.28% year over year, and its net profit attributable to shareholders was -69.661 million yuan, down 250.32% year over year. Based on single-quarter data, in the fourth quarter, total operating revenue was 107 million yuan, up 11.31% year over year, and net profit attributable to shareholders was -39.50 million yuan, down 129.24% year over year.

The performance of various data indicators disclosed in this financial report is not particularly satisfactory. Among them, the gross margin was 26.38%, down 11.68% year over year; the net profit margin was -18.41%, down 290.46% year over year. Selling expenses, administrative expenses, and financial expenses totaled 105 million yuan; the three-fee-to-revenue ratio was 27.86%, up 16.33% year over year. Net assets per share were 11.73 yuan, down 4.4% year over year. Net cash flow from operating activities per share was -0.21 yuan, down 125.51% year over year. Earnings per share were -0.55 yuan, down 243.75% year over year.

The explanations for the reasons of financial items with significant changes in the financial statements are as follows:

The change in selling expenses was -19.64%. Reason: This year’s business promotion expenses decreased year over year.
The change in financial expenses was 102.17%. Reason: This year, bank deposits decreased year over year, and interest income decreased.
The change in net cash flow from operating activities was -125.51%. Reason: Revenue declined during the current period.
The change in net cash flow from investing activities was 150.43%. Reason: During the current period, the amount of redeemed structured deposits was greater than the amount of purchased structured deposits, and the scale of cash paid for the purchase and construction of fixed assets, intangible assets, and other long-term assets decreased compared with the previous year.
The change in net cash flow from financing activities was 96.29%. Reason: There was no cash dividend in the current period.
The change in cash and cash equivalents was 102.59%. Reason: Structured deposits matured at the end of 2025.
The change in fixed assets was 63.77%. Reason: This year, the construction in progress of fundraising investment projects was transferred to fixed assets.
The change in construction in progress was -88.0%. Reason: This year, the construction in progress of fundraising investment projects was transferred to fixed assets.
The change in trading financial assets was -58.09%. Reason: Structured deposits matured at the end of 2025.

Securities Star’s stock-investment community financial report analysis tool shows:

Business evaluation: Last year’s net profit margin was -18.41%. After accounting for all costs, the value-added of the company’s products or services is not high. Based on statistics from historical annual report data, since the company’s listing, the median ROIC has been 10.08%, and investment returns have been relatively good. The worst year was 2025, when ROIC was -4.63%, and investment returns were extremely poor. The company’s historical financial reports are relatively average (Note: The company has been listed for less than 10 years; the longer the listing period, the greater the reference value of the financial-average analysis). Since listing, it has had 4 annual reports, with 2 loss years, indicating that the business model is relatively fragile.
Business breakdown: Over the past three years (2023/2024/2025), the return on net operating assets was 19.9%/–/-- respectively. Net operating profit was 243 million yuan/-19.8849 million yuan/-69.661 million yuan respectively. Net operating assets were 1.221 billion yuan/1.181 billion yuan/1.161 billion yuan respectively.

Over the past three years (2023/2024/2025), the company’s working capital/revenue (i.e., the amount of capital the company needs to pre-fund for every 1 yuan of revenue generated through production and operations) was 0.3/0.34/0.39, respectively. Of this, working capital (the company’s own money used in production and operations) was 254 million yuan/143 million yuan/148 million yuan, respectively. Revenue was 836 million yuan/422 million yuan/378 million yuan, respectively.

The above content is compiled by Securities Star from publicly available information and generated by an AI algorithm (Cybersecurity Filing No. 310104345710301240019). It does not constitute investment advice.

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