Luyan Pharma disclosed its 2026 interim report. In the first half, revenue rose but profit fell. Operating revenue reached 10.583 billion yuan, up 1.75% year on year. Net profit attributable to the parent company was 143 million yuan, down 7.46% year on year. Net profit after deducting non-recurring items was 138 million yuan, down 9.88% year on year. Net cash flow from operating activities was negative 101 million yuan, compared with 211 million yuan in the same period last year, a year-on-year decline of 147.98%. The company said this was mainly due to an increase in procurement payments. Pharmaceutical wholesale revenue was 9.445 billion yuan, up 0.43% year on year, accounting for 89.26% of total revenue. Pharmaceutical retail revenue was 866 million yuan, up 25.76% year on year, accounting for 8.18% of total revenue. Gross margin was 6.84% and net margin was 1.32%, both hitting new semi-annual lows since the company's listing in 2016. Accounts receivable stood at 6.187 billion yuan, accounting for 46.91% of total assets and 58.46% of current-period revenue. The share price closed at 11.68 yuan on August 17, down 44% since the start of the year.
Luyan Pharma Co LtdNet profit down 7.46%, margins at record lows, and operating cash flow turned negative.
