YuanDa Pharmaceutical (00512.HK): Adjusted operating profit attributable to shareholders is HKD 1.494 billion in 2025

Gelonghui March 26th丨Yuan Da Pharmaceutical (00512.HK) announced its annual results for 2025. During the reporting period, revenue was approximately HKD 12.283 billion, a year-on-year increase of about 5.5%. Excluding the impact of centralized procurement price reductions, revenue increased by approximately 14.8% year-on-year. The group’s product structure transformation and upgrade achieved milestone results, with the proportion of revenue from innovative and barrier products reaching a historic breakthrough, rising for the first time to about 50% (compared to 40% in the same period last year), an increase of nearly 10 percentage points year-on-year, fully confirming the foresight of the group’s strategic layout and providing a solid core support and strong momentum for long-term high-quality development.

Looking back over the period, the adjusted operating profit attributable to the company’s owners was approximately HKD 1.494 billion (same period last year: HKD 1.761 billion), mainly due to the impact of centralized procurement price reductions on certain products, which resulted in a decrease of over HKD 600 million in gross profit compared to the same period last year. To mitigate the impact of centralized procurement price reductions, the group vigorously promoted core innovative products and actively increased strategic marketing investments, with marketing promotion expenses increasing by over HKD 500 million compared to the same period last year, fully supporting the academic promotion and commercial expansion of core innovative products and continuously building a professional and academic high-end marketing system. Currently, the phase impact of centralized procurement price reductions on the group has been fully cleared, and the group’s annual revenue and gross profit have both increased compared to last year. Relying on the continuous improvement and rapid deployment of the group’s product pipeline in recent years, the aforementioned adverse impacts have been fully absorbed; although the related strategic investments have had a phase impact on the profit attributable to the company’s owners during the period, they have effectively solidified the market foundation of core barrier products, accelerated the commercialization process of products, and are expected to lay a solid foundation for the continuous growth of the group’s mid-to-long-term operating performance and contribute strong momentum. The board of directors recommends a final dividend of HKD 0.169 per share for the year-end of 2025.