CHINA NATIONAL MEDICINES CORP (600511) Q4 2025 earnings summary

Executive summary

• Maintained stable growth in core businesses, focusing on pharmaceutical and medical device distribution, with leading market share in Beijing and continued expansion in innovative and digital services.

• Adapted to industry transformation driven by policy, market restructuring, and technology, emphasizing compliance, supply chain optimization, and value-driven growth.

Financial highlights

• Achieved revenue of ¥52.47 billion in 2025, up 3.70% year-over-year; total profit was ¥2.60 billion, down 2.01%.

• Net profit attributable to shareholders was ¥1.997 billion, a slight decrease of 0.18% year-over-year.

• Operating cash flow reached ¥2.01 billion, up 20.88% from the previous year.

• Total assets at year-end were ¥36.69 billion, with shareholders’ equity of ¥18.54 billion.

• Proposed cash dividend of ¥8 per 10 shares, totaling ¥603.6 million, pending shareholder approval.

Outlook and guidance

• Industry expected to see continued compliance upgrades, digital transformation, and increased market concentration.

• Long-term growth drivers include aging population, rising healthcare spending, and demand for specialized medicines and health management.