YUNNAN BAIYAO(SZ:000538) Zhong Guo Zheng Quan Bao·2025-08-30 14:24Core Viewpoint - Yunnan Baiyao, a leading company in the traditional Chinese medicine industry, reported strong financial performance for the first half of 2025, achieving record high net profit and revenue growth [1][2]. Financial Performance - The company achieved operating revenue of 21.26 billion yuan, a year-on-year increase of 3.92% [2]. - The net profit attributable to shareholders reached 3.63 billion yuan, up 13.93% year-on-year, marking a historical high for the period [1][2]. - The net profit after deducting non-recurring gains and losses was 3.46 billion yuan, reflecting a 10.40% increase year-on-year [2]. - The net cash flow from operating activities was 3.96 billion yuan, a significant increase of 21.45% [2]. - Basic and diluted earnings per share were both 2.04 yuan, representing a 13.97% increase [2]. - The weighted average return on equity rose to 9.09%, an increase of 1.16 percentage points year-on-year [2]. Dividend Announcement - The company announced a special dividend plan, proposing to distribute 10.19 yuan per 10 shares (including tax), totaling approximately 1.82 billion yuan, which accounts for 50.05% of the net profit for the first half of 2025 [1][2]. Product Performance - The core product, aerosol spray, generated over 1.45 billion yuan in revenue, with a significant year-on-year growth of over 20.9% [4][5]. - The pharmaceutical business segment reported revenue of 4.75 billion yuan, a 10.8% increase year-on-year [5]. - The health products segment achieved revenue of 3.44 billion yuan, reflecting a 9.46% growth [6]. - The commercial segment, Yunnan Provincial Pharmaceutical Co., Ltd., reported a revenue of 12.16 billion yuan, with a net profit of 351 million yuan, up 17.75% [6]. Industry Development - The Yunnan provincial government emphasizes the development of the traditional Chinese medicine industry, positioning it as a key focus for the province's agricultural economy [6]. - The company is committed to building an industrial cluster centered around itself, promoting collaboration across the supply chain [6]. Innovation Strategy - The company adheres to an innovation-driven development strategy, focusing on both traditional Chinese medicine and innovative pharmaceuticals [8]. - It aims to enhance its research and development capabilities for traditional Chinese medicine while also exploring innovative drug development [8]. - The national "14th Five-Year Plan" includes support for the biopharmaceutical industry, presenting new opportunities for the healthcare sector [8].