Jointown Pharmaceutical Group (600998) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 42.02 billion, up 3.82% year-over-year, with net profit attributable to shareholders surging 80.38% to RMB 969.86 million, mainly due to the successful listing of a public REIT for pharmaceutical logistics assets, contributing RMB 438 million to net profit.

• Basic and diluted EPS both rose 72.73% year-over-year to RMB 0.19.

Financial highlights

• Operating cash flow remained negative at -RMB 3.33 billion, but improved 8.91% year-over-year.

• Total assets increased 6.33% to RMB 108.88 billion, and shareholders’ equity rose 3.62% to RMB 28.23 billion compared to year-end 2024.

• Gross margin and operating profit details indicate continued cost control and efficiency improvements.

Outlook and guidance

• The REITs issuance and Pre-REITs fundraising are expected to optimize the asset-liability structure and provide equity funding for core business growth.

• The company aims to leverage its logistics and data assets for further expansion and value realization.