Sinopharm Group Co. Ltd.’s subsidiary China National Accord Medicines Corporation Ltd. (“Sinopharm Accord”) has released its unaudited preliminary results for the nine months ended 30 September 2026, revealing a resilient performance despite continued industry headwinds.
Nine-Month Results (January–September 2026) • Revenue slipped 0.11% year on year to RMB 55.07 billion. • Operating profit edged down 0.47% to RMB 1.33 billion, while total profit was broadly flat at RMB 1.32 billion (-0.05%). • Net profit attributable to shareholders eased 0.48% to RMB 0.95 billion; basic EPS held steady at RMB 1.56 after bonus-share adjustments. • Underlying net profit (excluding non-recurring items) improved 2.36% to RMB 0.94 billion. • Weighted average return on equity (ROE) fell 26 basis points to 5.03%.
Third-Quarter Upswing (July–September 2026) • Revenue increased 2.57% to RMB 18.80 billion. • Operating profit rose 21.08% to RMB 0.49 billion; total profit climbed 22.54% to RMB 0.49 billion. • Net profit attributable to shareholders advanced 18.91% to RMB 0.35 billion, with adjusted net profit up 23.47% to RMB 0.35 billion. • Quarterly EPS improved to RMB 0.57 from RMB 0.48 a year earlier, lifting ROE by 23 basis points to 1.82%.
Segment Performance (Nine Months) • Distribution: Revenue marginally declined 0.07% to RMB 40.57 billion, but net profit increased 4.28% to RMB 0.75 billion, underscoring cost control and market-expansion efforts. • Retail (Guoda Drugstore): Revenue was broadly stable at RMB 15.23 billion (+0.05%), while net profit surged 105.08% to RMB 27 million, driven by product-mix optimisation, store-network adjustments and tighter expense management.
Balance-Sheet Snapshot • Total assets stood at RMB 48.90 billion, down 0.39% from the start of 2026. • Equity attributable to shareholders rose 3.28% to RMB 19.22 billion, reflecting a 10% share-capital increase to 6.12 billion shares. • Net asset value per share edged up 3.26% to RMB 31.39.
Outlook and Strategy Management highlighted intensifying competition amid ongoing centralised procurement policies but reaffirmed its focus on supply-chain efficiency, market expansion and product-mix optimisation to foster sustainable growth and profitability.
The reported figures are preliminary and unaudited; final numbers will be disclosed in Sinopharm Accord’s forthcoming third-quarter report. Investors are advised to interpret the data accordingly.
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