Important Content Reminder:
- The Board of Directors and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or significant omissions, and bear individual and joint legal responsibilities.
- The person in charge of the company, the head of accounting, and the accounting institution declare that they ensure the financial information in the quarterly report is true, accurate, and complete.
- Is the financial accounting report for the first quarter audited? □ Yes ☒ No
I. Main Financial Data
(1) Main Accounting Data and Financial Indicators
Does the company need to restate or adjust previous years' accounting data? □ Yes ☒ No
| Item | Current Period | Same Period Last Year | Change (%) |
|---|---|---|---|
| Operating Revenue (yuan) | 17,823,409,770.31 | 18,293,519,382.49 | -2.57% |
| Net Profit Attributable to Shareholders (yuan) | 287,462,500.32 | 327,998,492.13 | -12.36% |
| Net Profit Attributable to Shareholders after Deducting Non-Recurring Gains and Losses (yuan) | 280,052,547.60 | 317,427,384.37 | -11.77% |
| Net Cash Flow from Operating Activities (yuan) | -2,935,333,476.40 | -1,817,269,997.84 | -61.52% |
| Basic Earnings per Share (yuan/share) | 0.52 | 0.59 | -11.86% |
| Diluted Earnings per Share (yuan/share) | 0.52 | 0.59 | -11.86% |
| Weighted Average Return on Equity | 1.53% | 1.84% | Decrease of 0.31 percentage points |
| Item | End of Current Period | End of Last Year | Change (%) |
|---|---|---|---|
| Total Assets (yuan) | 49,123,776,186.09 | 49,096,270,979.03 | 0.06% |
| Shareholders' Equity Attributable to Listed Company (yuan) | 18,897,425,775.89 | 18,609,963,275.57 | 1.54% |
Explanation of Operating Performance and Financial Condition:
In the first quarter of 2026, the company achieved operating revenue of 17.82 billion yuan, a year-on-year decrease of 2.57%. The net profit attributable to shareholders was 287.46 million yuan, down 12.36% year-on-year, with basic earnings per share decreasing by 11.86% and the weighted average return on equity declining by 0.31 percentage points year-on-year. The distribution segment generated revenue of 13.36 billion yuan, a decrease of 1.72% year-on-year, with net profit of 199 million yuan, down 13.60% year-on-year. This decline was mainly due to changes in industry policies and intensified competition, leading to a slight drop in sales revenue. Additionally, delayed payments from downstream customers extended the aging of accounts receivable, resulting in an increase in bad debt provisions year-on-year, which contributed to the profit decline. The retail segment (China National Pharmaceutical Holdings Guoda Pharmacy Co., Ltd.) achieved revenue of 4.74 billion yuan, a decrease of 4.89% year-on-year, while net profit increased by 15.42% year-on-year. Despite a decline in sales revenue due to seasonal flu variations and market competition, the decrease has been narrowing. Furthermore, the company has strengthened governance of loss-making enterprises and adjusted store structures, leading to a reduction in fixed costs such as labor and rent, which has driven an increase in net profit. In the face of a complex and changing external environment, the company will adhere to strategic leadership, focus on high-quality development, deepen transformation and innovation, strengthen compliance and risk management, and continuously improve operational quality and risk resistance capabilities to achieve stable progress and lay a solid foundation for the start of the 14th Five-Year Plan.
(2) Non-Recurring Gains and Losses Items and Amounts
☒ Applicable □ Not Applicable Unit: yuan