Core Insights - The company reported a total operating revenue of 55,124.49 million yuan for the first three quarters of 2025, representing a year-on-year decline of 2.38% [2] - The net profit attributable to shareholders of the listed company was 957.12 million yuan, showing a year-on-year decrease of 10.18% [2] Financial Performance - Total operating revenue for the first three quarters: 55,124.49 million yuan [2] - Year-on-year change in operating revenue: -2.38% [2] - Net profit attributable to shareholders: 957.12 million yuan [2] - Year-on-year change in net profit: -10.18% [2]

（编辑 李家琪 张昕） 本报讯 （记者李雯珊 见习记者张美娜）10月21日，国药集团一致药业股份有限公司（以下简称"国药一致"）披露的2025 年前三季度业绩快报显示，公司实现营业总收入约为551.24亿元，同比下降2.38%；归母净利润约为9.57亿元，同比下降 10.18%。根据公告，公司将继续聚焦"开源、节流、提效"，加速数字化转型，深化组织变革与精细化管理，调整业务结构，提 升经营质量与抗风险能力。 ...

Core Insights - The company reported a total revenue of approximately 55.12 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 2.38% [1] - The net profit attributable to shareholders was about 957 million yuan, down 10.18% year-on-year, with a basic earnings per share of 1.72 yuan [1] - In Q3 2025, the company achieved a revenue of 18.33 billion yuan, a decline of 1.89% year-on-year, and a net profit of 291 million yuan, down 9.58% year-on-year [1] Distribution Segment - The distribution segment generated a revenue of 40.59 billion yuan from January to September 2025, a slight decrease of 0.59% year-on-year, with a net profit of 72.3 million yuan, down 7.32% [2] - Despite ongoing policy and market competition pressures, the company managed to stabilize distribution revenue through continuous optimization of its business structure [2] - Increased credit impairment losses due to longer repayment cycles from some downstream clients contributed to the profit decline, although the company maintained business adjustments and cost control, resulting in a narrowing profit decline [2] Retail Segment - The retail segment, represented by "Guoyao Holdings Guoda Pharmacy Co., Ltd.", achieved a revenue of 15.23 billion yuan, a year-on-year decrease of 7.14%, but net profit increased by 133.91% to 1.3 million yuan [2] - The retail segment faced challenges from a worsening market environment and ongoing strategic store closures, leading to a slight decline in sales revenue [2] - The company improved profitability by optimizing its procurement system, focusing on private brands, and reducing fixed costs through the closure of inefficient stores and enhancing single-store output [2]

Core Insights - The company reported a total operating revenue of approximately 55.12 billion yuan for the first three quarters of 2025, a year-on-year decrease of 2.38% [1] - The net profit attributable to shareholders was approximately 957 million yuan, down 10.18% year-on-year [1] - The basic earnings per share were 1.72 yuan [1] Distribution Segment - The distribution segment achieved operating revenue of 40.59 billion yuan from January to September 2025, a year-on-year decline of 0.59% [2] - Net profit for the distribution segment was 723 million yuan, down 7.32% year-on-year [2] - Despite ongoing policy and market competition pressures, the company managed to stabilize distribution revenue through continuous optimization of its business structure [2] Retail Segment - The retail segment, represented by "Guoyao Holdings Guoda Pharmacy Co., Ltd.", generated operating revenue of 15.23 billion yuan, a year-on-year decrease of 7.14% [2] - The net profit for the retail segment was 13 million yuan, showing a significant year-on-year increase of 133.91% [2] - The retail segment faced challenges from the market environment and strategic store closures, but improved profitability through optimization of procurement systems and closure of inefficient stores [2]

Core Insights - China National Pharmaceutical Group (国药控股) reported a decline in revenue and net profit for the first nine months of 2025, indicating challenges in the pharmaceutical sector [1] Financial Performance - For the period of January to September 2025, China National Pharmaceutical Group's subsidiary, China National Pharmaceutical (国药一致), achieved a revenue of 55.124 billion yuan, a year-on-year decrease of 2.38% [1] - The net profit attributable to shareholders of China National Pharmaceutical was 0.957 billion yuan, reflecting a year-on-year decline of 10.18% [1] - Basic earnings per share decreased by 9.95%, and the weighted average return on net assets fell by 0.70 percentage points year-on-year [1] Quarterly Results - In the third quarter of 2025, China National Pharmaceutical reported a revenue of 18.328 billion yuan, down 1.89% compared to the same period last year [1] - The net profit attributable to shareholders for the third quarter was 0.291 billion yuan, showing a year-on-year decline of 9.58% [1]

格隆汇10月21日丨国药一致(000028.SZ)公布，2025年1-9月，公司实现营业收入551.24亿元，同比下降 2.38%；归属于上市公司股东的净利润9.57亿元，同比下降10.18%，相应的基本每股收益同比下降 9.95%，加权平均净资产收益率同比下降0.70个百分点。2025年第三季度，公司实现营业收入183.28亿 元，同比下降1.89%；归属上市公司股东的净利润2.91亿元，同比下降9.58%。 ...

Market Overview - The pharmaceutical commercial sector increased by 0.55% on October 21, with First Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - First Pharmaceutical (600833) closed at 13.64, up 2.48% with a trading volume of 58,500 shares and a transaction value of 79.03 million yuan [1] - Other notable performers included: - Haiwang Biological (000078) at 2.55, up 2.41% [1] - HeFu China (603122) at 6.55, up 2.34% [1] - Ruikang Pharmaceutical (002589) at 2.93, up 2.09% [1] - Daclin (603233) at 18.67, up 1.52% with a transaction value of 293 million yuan [1] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 105 million yuan from institutional investors and 110 million yuan from speculative funds, while retail investors saw a net inflow of 215 million yuan [2] - The capital flow for individual stocks showed mixed results, with China Pharmaceutical (600056) seeing a net inflow of 28.32 million yuan from institutional investors [3] Individual Stock Capital Flow - Key stocks with significant capital flow include: - China Pharmaceutical (600056) with a net inflow of 28.32 million yuan from institutional investors [3] - Jiuzhoutong (600998) with a net inflow of 24.77 million yuan from institutional investors [3] - Shanghai Pharmaceutical (601607) with a net inflow of 11.37 million yuan from institutional investors [3]

Core Viewpoint - The company reported a decline in both revenue and net profit for the third quarter and the first three quarters of the year, indicating ongoing challenges in the distribution business due to policy and market competition pressures [1] Financial Performance - In Q3, the company achieved total revenue of 18.328 billion, a year-on-year decrease of 1.89% [1] - The net profit attributable to shareholders in Q3 was 291 million, down 9.58% year-on-year [1] - For the first three quarters, total revenue reached 55.124 billion, reflecting a 2.38% year-on-year decline [1] - The net profit attributable to shareholders for the first three quarters was 957 million, a decrease of 10.18% year-on-year [1] Business Challenges - The distribution business continues to face policy and market competition pressures, although there has been a stabilization and recovery in distribution revenue through ongoing business structure optimization [1] - Increased credit impairment losses due to longer repayment cycles from some downstream customers have contributed to the decline in profits [1]

Core Viewpoint - The company reported a decline in both revenue and net profit for the first three quarters of 2025, indicating ongoing challenges in the distribution and retail sectors [1] Financial Performance - The company achieved a total revenue of 55.124 billion yuan, a year-on-year decrease of 2.38% [1] - The net profit attributable to shareholders was 0.957 billion yuan, down 10.18% year-on-year, with basic earnings per share decreasing by 9.95% [1] Distribution Segment - The distribution segment generated revenue of 40.594 billion yuan, reflecting a slight decline of 0.59% year-on-year [1] - Net profit from the distribution segment was 0.723 billion yuan, a decrease of 7.32% compared to the previous year [1] - Despite ongoing policy and market competition pressures, the company managed to stabilize distribution revenue through continuous business structure optimization [1] Retail Segment - The retail segment reported revenue of 15.226 billion yuan, which is a year-on-year decline of 7.14% [1] - The net profit for the retail segment was 0.013 billion yuan, showing a significant increase of 133.91% year-on-year [1]

2025年1-9月，分销板块实现营业收入405.94亿元，同比下降0.59%;实现净利润7.23亿元，同比下降 7.32%。第三季度，分销业务面临的政策与市场竞争压力仍然存在，但公司通过持续优化业务结构，分 销收入实现企稳回升。同时，受部分下游客户回款周期较长影响，信用减值损失计提同比增加，导致利 润下滑，但公司坚持业务调整与成本管控，利润降幅呈收窄态势。零售板块实现营业收入152.26亿元， 同比下降7.14%;实现净利润0.13亿元，同比增长133.91%。 智通财经APP讯，国药一致(000028.SZ)披露2025年度前三季度业绩快报，公司实现营业收入551.24亿 元，同比下降2.38%;归属于上市公司股东的净利润9.57亿元，同比下降10.18%，相应的基本每股收益同 比下降9.95%。 ...