A股年报季“第一枪”：沃华医药净利大增162.93%

Core Viewpoint - Wohuah Pharmaceutical (002107.SZ) has become the first listed company in the A-share market to release its 2025 annual report, indicating the start of the annual performance reporting period for the market. This reflects the company's strong governance, internal control quality, and commitment to transparent information disclosure, showcasing management's confidence in operational quality and financial health [2] Financial Performance - In 2025, Wohuah Pharmaceutical achieved total operating revenue of 817 million yuan, a steady increase of 6.96% year-on-year. The net profit attributable to shareholders reached 95.7153 million yuan, a significant increase of 162.93%, marking the highest growth rate in nearly a decade. Notably, the net profit growth rate significantly outpaced revenue growth, indicating a structural improvement in profitability and quality of growth [2][3] Strategic Initiatives - The company has consistently adhered to a strategy of maintaining a strong exclusive product line. In response to deepening industry policies and increasing market competition, Wohuah Pharmaceutical has built competitive barriers through its exclusive products, including Wohuah® Xinkeshu tablets and other key products, enhancing market competitiveness [3] - The net profit growth exceeding revenue growth is attributed to the premium capability of high-value product combinations and refined cost control, demonstrating the resilience of the product line across policy cycles [3] Cash Flow and Financial Health - During the reporting period, the net cash flow from operating activities increased by 40.45%, and the asset-liability structure remained highly stable with zero interest-bearing debt. This reflects the company's excellent financial health and strong internal cash generation capability, providing a solid foundation for sustainable operations and strategic initiatives [3] Dividend Policy - The board of directors approved a cash dividend plan, proposing a distribution of 1.46 yuan (tax included) for every 10 shares. This move demonstrates management's confidence in the company's future profitability and cash position, as well as a commitment to shareholder returns under a "zero interest-bearing debt" operational model [4] Future Outlook - Looking ahead to 2026, Wohuah Pharmaceutical plans to deepen its focus on traditional Chinese medicine, emphasizing the clinical value and market synergy of its exclusive product line. The company aims to respond prudently to ongoing procurement policies and actively expand its outpatient market while enhancing research and access strategies [4]