华润医药2025中期报告

Contents 02Corporate Profile03Corporate Information07Definitions12Management Discussion and Analysis44Other Information56Independent Review Report58Condensed Consolidated Statement of Profitor Loss59Condensed Consolidated Statement ofComprehensive Income60Condensed Consolidated Statement ofFinancial Position62Condensed Consolidated Statement ofChanges in Equity64Condensed Consolidated Statementof Cash Flows68Notes to the Unaudited Interim FinancialInformationThis interim report is printed with eco-friendly paper Corporate Profile 3320 China Resources Pharmaceutical Group Limited (stock code: 3320) is aleading integrated pharmaceutical company in China. Our businessencompasses manufacturing, distribution and retail of pharmaceuticaland healthcare products. Since the establishment in 2007, the Group hasdeveloped into the second largest pharmaceutical manufacturer and thethird largest pharmaceutical distributor (by revenue) in China. 944555999 In October 2016, the Company successfully completed its global offeringin Hong Kong. Our manufacturing business encompasses the researchand development, manufacturing and sale of pharmaceutical andhealthcare products. We manufacture 944 products, 555 of which wereincluded in the China’s national reimbursement drug list. The productscomprise chemical drugs, Chinese medicines and biological drugs as wellas nutritional and healthcare products, covering a wide range oftherapeutic areas including cardiovascular, alimentary tract andmetabolism, large-volume intravenous infusion, pediatrics, respiratorysystem, dermatology, etc. Moreover, we own a range of famous brands,such as “999”, “Dong-E-E-Jiao”, “Double Crane”, “Zizhu”,“Jiangzhong”, “Boya”, “Kun Zhong Yao” and “Tasly”, coveringtherapeutic areas including cold, gastroenterology, dermatology,pediatrics, orthopedics, plasma products, among others. In the future, wewill actively expand into health management and products for chronicdisease management to meet the full-cycle and multi-dimensionalhealthcare needs of Chinese households from prevention, healthcare,therapy to recovery. 245110 We regard R&D and product innovation as important drivers for our long-term growth and consistently increase the investment in R&D activities.We operate 2 state key laboratories, 4 national engineering researchcenters, 5 national enterprise technology centers, as well as over 110provincial municipal-level R&D platforms, and a postdoctoral researchworkstation. 22028221.211704DTP279187 Leveraging our comprehensive product supply and wide distributionnetworks, we directly distribute products to hospitals and other medicalinstitutions across the country. We operate a national distributionnetwork comprising over 220 logistics centers strategically across 28provinces, municipalities and autonomous regions in China, withapproximately 220,000 clients, including over 12,000 second- and third-class hospitals and approximately 110,000 primary medical institutionclients. In addition, we operate one of the largest retail pharmacynetworks in China, comprising 704 retail pharmacies under national orregional premium brands such as “Teck Soon Hong()”, including279 DTP specialty pharmacies (which cover 187 “dual channel()”pharmacies). Corporate Information BOARD OF DIRECTORS Chairman and Executive DirectorMr. Bai Xiaosong Executive Director and PresidentMr. Cheng Jie (appointed on 26 August 2025) Executive Director and Vice PresidentMr. Tao Ran (resigned on 26 August 2025) Executive Director and Chief Financial OfficerMdm. Deng Rong Non-executive Directors Mdm. Guo WeiMr. Sun YongqiangMr. Wang Yuhang (appointed on 18 June 2025)Mr. Guo ChuanMdm. Jiao Ruifang Independent Non-executive Directors Mdm. Chiu Mun Wai (appointed on 23 May 2025)Mr. Fu TingmeiMr. Zhang KejianMr. Shi Luwen (appointed on 23 May 2025)Mdm. Shing Mo Han Yvonne (retired on 23 May 2025)Mr. Kwok Kin Fun (retired on 23 May 2025) AUDIT COMMITTEE Mdm. Chiu Mun Wai(Chairlady)(appointed on 23 May 2025)Mdm. Shing Mo Han Yvonne(Chairlady)(retired on 23 May 2025)Mdm. Guo WeiMdm. Jiao RuifangMr. Fu TingmeiMr. Zhang KejianMr. Shi Luwen (appointed on 23 May 2025)Mr. Kwok Kin Fun (retired on 23 May 2025) Corporate Information NOMINATION COMMITTEE Mr. Bai Xiaosong(Chairman)Mdm. Chiu Mun Wai (appointed on 23 May 2025)Mr. Fu TingmeiMr. Zhang KejianMr. Shi Luwen (appointed on 23 May 2025)Mdm. Shing Mo Han Yvonne (retired on 23 May 2025)Mr. Kwok Kin Fun (retired on 23 May 2025) REMUNERATION AND APPRAISAL COMMITTEE Mr. Shi Luwen(Chairman)(appointed on 23 May 2025)Mr. Kwok Kin Fun(Chairman)(retired on 23 May 2025)Mr. Sun YongqiangMdm. Chiu Mun Wai (appointed on 23 May 2025)Mr. Fu TingmeiMr. Zhang KejianMdm. Shing Mo Han Yvonne (retired on 23 May 2025) CORPORATE GOVERNANCE COMMITTEE Mr. Fu Tingmei(Chairman)Mr. Cheng Jie (appointed on 26 August 2025)Mdm. Chiu Mun Wai (appointed on 23 May 2025)Mr. Zhang KejianMr. Shi Luwen (appointed on 23 May 2025)Mdm. Deng Rong (resigned on 26 August 202