Shenzhen Hepalink Pharmaceutical Group Co., Ltd. (Hepalink, 9989) released an estimated net profit for 2025 ranging from RMB284 million to RMB377 million, representing a year-on-year decrease of approximately 56.09% to 41.71%. The company expects net profit after non-recurring items to be RMB362 million to RMB460 million, indicating a year-on-year increase of about 42.78% to 81.43%.

According to the announcement, the drop in overall net profit is attributed to a high base effect in the previous year that included an over RMB350 million one-off investment gain. In addition, an associate’s R&D progress fell short of expectations, contributing to the decline. Despite these factors, core business revenue and profits maintained steady growth, driven by continued market expansion of heparin finished dose products and double-digit growth in enoxaparin sales volumes. The segment’s strong performance helped boost net profit after non-recurring items and reflected Hepalink’s operational resilience and core business sustainability.