Kelun Pharma H1 2026 Revenue Down 2.7%, Net Profit Up 12.71%
Kelun Pharmaceutical reported H1 2026 revenue of RMB 8.839 billion, down 2.7% year on year, while net profit attributable to shareholders rose 12.71% to RMB 1.128 billion. The company plans a cash dividend of RMB 1.26 per 10 shares. Non-recurring gains of RMB 429 million, mainly from a RMB 666 million settlement received by subsidiary Kelun-Biotech, boosted profit. However, price declines in infusion products and penicillin weighed on results.
Kelun Pharmaceutical released its 2026 interim report. During the reporting period, the company achieved total operating revenue of RMB 8.839 billion, down 2.7% year on year; net profit attributable to shareholders of the listed company was RMB 1.128 billion, up 12.71% year on year; net profit after deducting non-recurring gains and losses was RMB 699 million, down 29.03% year on year; basic earnings per share were RMB 0.71. The company plans to distribute a cash dividend of RMB 1.26 per 10 shares to all shareholders.
In the first half, the company's non-recurring gains and losses reached RMB 429 million, mainly from a settlement income of approximately RMB 666 million received by subsidiary Kelun-Biotech. The company stated that operating performance changes were affected by three factors: increased sales revenue from innovative drugs and recognition of settlement income at Kelun-Biotech drove profit growth year on year; infusion and non-infusion preparation products were affected by centralized procurement, with some product prices declining, reducing profit year on year; and subsidiary North China Pharmaceutical (NCP) saw profit decline due to lower penicillin product prices.
By product category, in the first half, the company's infusion product sales volume was 1.929 billion bottles/bags, down 0.94% year on year; sales revenue reached RMB 3.559 billion, down 5.08% year on year. In terms of centralized procurement, Sichuan promoted the implementation of volume-based procurement for large-volume injections such as sodium chloride. In the renewal work for national centralized procurement batches 1-8, the company moderately reduced prices to actively renew bids, coupled with continued sales policy support for some competitive therapeutic products, which had a certain impact on sales revenue. Parenteral nutrition three-chamber bag products and powder-liquid dual-chamber bag products showed sustained growth.
Non-infusion drugs (excluding innovative drugs) achieved sales revenue of RMB 1.699 billion, up 3.26% year on year. In the anti-infective field, products such as oseltamivir, amoxicillin capsules, and penicillin powder injections saw varying degrees of decline in sales volume due to reduced demand, and product prices also declined to varying degrees. In the central nervous system field, the product matrix mainly composed of escitalopram oxalate tablets and citalopram hydrobromide tablets achieved steady growth.
In terms of international business, the company achieved overseas revenue of RMB 771 million in the first half, down 31.81% year on year, mainly due to reduced overseas licensing income. The company stated that it will continue to leverage its overseas platform advantages, seize development opportunities in the Central Asian pharmaceutical market, and steadily expand its regional market influence.