药易购半年报首现亏损 创始人李燕飞已“退居二线”

Core Viewpoint - The company reported its first net profit loss since its IPO in 2021, with a significant decline in revenue and net profit in the first half of 2025 compared to the previous year [1][2]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 2.157 billion yuan, a decrease of 3.06% year-on-year, and a net profit loss of 7.61 million yuan, a decline of 163% [1]. - The digital pharmaceutical distribution business generated revenue of 1.920 billion yuan, down 8.27% from 2.093 billion yuan in the first half of 2024, contributing to the overall revenue decline [2]. - The company's sales expenses reached 164 million yuan in the first half of 2025, an increase of approximately 46% year-on-year, further impacting performance [2]. Group 2: Business Strategy and Structure - The company focuses on the outpatient market for pharmaceutical distribution services and has diversified its business into various sectors, including new retail, B2B e-commerce, supply chain, and internet healthcare [1]. - The company has established a media matrix and a database of over 10,000 doctors in Sichuan, supporting its "big health ecosystem" strategy [2]. - The company has seen a decline in revenue growth rates since its IPO, with year-on-year growth rates of 21.88%, 16.72%, and 11.62% from 2021 to 2023 [2]. Group 3: Leadership Changes - The founder and chairman, Li Yanfei, has stepped down to a secondary role, with Chen Shunjun taking over as chairman and continuing as CEO [3]. - Chen Shunjun has extensive experience in IT, artificial intelligence, and big data, which may influence the company's strategic direction [3]. - The effectiveness of the leadership change in reversing the company's declining performance remains to be seen [4].