华润医药(03320.HK)上半年纯利跌20.3%至20.77亿元 中期息0.072元

Core Insights - China Resources Pharmaceutical (03320.HK) reported total revenue of RMB 131.87 billion for the first half of 2025, representing a year-on-year growth of 2.5% [1] Group 1: Financial Performance - The company achieved a gross profit of RMB 21.51 billion, an increase of 2.8% compared to the same period last year, with an overall gross margin of 16.3%, unchanged from the first half of 2024 [1] - Net profit for the period was RMB 5.05 billion, a decline of 8.8% year-on-year, while profit attributable to shareholders decreased by 20.3% to RMB 2.08 billion [1] - Basic earnings per share were RMB 0.33, and the board declared an interim dividend of RMB 0.072 per share [1] Group 2: Business Segment Performance - The pharmaceutical segment generated revenue of RMB 24.81 billion, reflecting a year-on-year growth of 4.3%, with growth across traditional Chinese medicine, biopharmaceuticals, and nutritional health products [1] - The pharmaceutical distribution segment reported revenue of RMB 108.33 billion, up 2.3% year-on-year, maintaining a gross margin of 5.9% [2] - The retail segment recorded revenue of RMB 5.51 billion, a significant increase of 11.4%, driven by rapid growth in high-value drug direct delivery (DTP) business, which generated approximately RMB 3.76 billion, up 14.1% [2] - The retail business's gross margin was 6.1%, down 0.4 percentage points due to the increased proportion of lower-margin DTP business [2]