SH PHARMA (Shanghai Pharmaceuticals Holding Co., Ltd.) reported 2025 revenue of RMB283.58 billion, up 3.03% year-on-year. Net profit attributable to shareholders rose 25.74% to RMB5.72 billion, aided by a one-off gain from consolidating Shanghai Hutchison Pharmaceuticals. Excluding this non-recurring item, underlying net profit slipped 5.56% to RMB4.72 billion.
The board recommends a cash dividend of RMB3.50 per 10 shares, bringing total 2025 dividends to RMB1.74 billion, equal to 30.45% of annual attributable profit.
Segment performance remained solid. Pharmaceutical distribution contributed RMB259.06 billion in revenue, up 3.00%, while pharmaceutical manufacturing delivered RMB24.52 billion, up 3.33%. Retail and other businesses generated a combined RMB8.70 billion.
Operating cash flow improved 5.61% to RMB6.15 billion, and the asset-liability ratio eased to 61.49%. Earnings per share climbed to RMB1.54.
R&D expenditure reached RMB2.60 billion, accounting for 10.62% of manufacturing sales. The group highlighted progress in innovative drug pipelines and the successful approval of its first Class 1 innovative drug, Stogilan Malate Tablet.
Key balance-sheet items show total assets of RMB233.15 billion and shareholders’ equity of RMB89.79 billion. Net gearing stood at 24.37%.
Management attributed the profit surge mainly to the integration of a controlling stake in Shanghai Hutchison Pharmaceuticals, which generated one-off gains from fair-value re-measurement. Operating profit rose to RMB9.94 billion, while credit and asset impairments totalled RMB1.59 billion.
Looking ahead to the first year of its 15th Five-Year Plan, SH PHARMA pledges to maintain “innovation-driven” growth, deepen supply-chain services, expand international presence and accelerate the commercialisation of its drug pipeline.
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