Shanghai Fosun Pharmaceutical (Group) Co., Ltd. reported 2025 revenue of RMB 41.50 billion, up 1.44% year-on-year. Net profit attributable to shareholders rose 21.69% to RMB 3.37 billion, lifting net margin to 10.24% from 8.59%.

Innovative drugs remained the growth engine: sales reached RMB 9.89 billion, a 29.59% increase and now represent 23.84% of total revenue. Overseas revenue climbed 14.87% to RMB 12.98 billion, accounting for 31.27% of the top line.

By segment, pharmaceutical manufacturing delivered revenue of RMB 29.68 billion (+3.15%) and segment profit of RMB 3.43 billion (+5.51%). Medical devices and diagnostics posted stable revenue of RMB 4.32 billion, turning to a segment profit of RMB 0.08 billion. Healthcare services generated revenue of RMB 7.37 billion with a segment loss of RMB 0.22 billion.

Group R&D expenditure rose 6.46% to RMB 5.91 billion, equal to 14.19% of revenue; spending on innovative-drug projects reached RMB 4.30 billion, or 72.77% of total R&D.

Operating cash flow improved 16.45% to RMB 5.21 billion. The balance sheet showed total assets of RMB 120.02 billion (+2.21%) and total liabilities of RMB 58.21 billion. Net gearing (interest-bearing debt/total assets) eased to 27.46%.

The Board proposes a final dividend of RMB 0.39 per share (before tax). Key capital-market moves included repurchasing 14.23 million A shares and 3.41 million H shares, increasing its stake in subsidiary Shanghai Henlius to 63.43%, and registering RMB 10.00 billion of debt financing instruments, of which RMB 2.50 billion were issued in 2025. A spin-off listing of vaccine arm Fosun Adgenvax on the Hong Kong Stock Exchange was also approved by shareholders in February 2026.

Management will continue to pursue an “innovation-driven, deep internationalisation, AI-enabled” strategy, prioritising oncology, immunology and neuro-degenerative pipelines, and expanding overseas markets while tightening cost and quality controls.