智通财经网·2026-03-24 06:40Core Viewpoint - UBS reports that China National Pharmaceutical Group (01099) is expected to have total revenue of 575.1 billion RMB in 2025, a year-on-year decline of 1.6%, while net profit attributable to shareholders is projected to be 7.16 billion RMB, a year-on-year increase of 1.5%, both in line with expectations [1] Group 1: Financial Performance - The company is expected to experience a revenue decline due to ongoing industry policy headwinds affecting distribution income [1] - Despite the revenue decline, the company's net profit margin is anticipated to slightly expand due to effective cost control and business optimization reducing operating expense ratios [1] Group 2: Future Projections - UBS has raised its earnings per share forecast for 2026 to 2028 by 1% to 2% and maintains a "Buy" rating, increasing the target price from 24.2 HKD to 25.7 HKD [1] - The company is expected to achieve revenue growth faster than the industry this year, primarily benefiting from market share gains, innovative drug distribution, and retail business [1]