Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Stock Code: 600380 Stock Short Name: 健康元
Joincare Pharmaceutical Group Industry Co., Ltd.
The Board of Directors and all Directors of the Company hereby warrant that there are no false
representations, misleading statements or material omissions contained in this announcement and
accept legal responsibility for the truthfulness, accuracy and completeness of the contents hereof.
IMPORTANT NOTICE:
? The Board of Directors, directors, and senior management of the Company hereby warrant the
truthfulness, accuracy and completeness of the contents of this quarterly report, and that there are no
false representations, misleading statements or material omissions contained herein, and severally
and jointly accept legal responsibility.
? The person-in-charge of the Company, the person-in-charge of accounting work and the person-in-
charge of the accounting department (the head of the accounting department) hereby warrant the
truthfulness, accuracy and completeness of the financial information contained in this quarterly report.
? Whether the first quarterly financial statements have been audited.
□Yes √No
I. MAJOR FINANCIAL DATA
(I) Major Accounting Data and Financial Indicators
Unit: Yuan Currency: RMB
The Reporting Period The same period of the
Item YoY change (%)
(From January to March) previous year
Revenues 3,721,497,528.96 4,089,279,479.56 -8.99
Total profit 1,036,837,891.56 1,151,118,552.69 -9.93
Net profit attributable to
shareholders of the listed 414,971,222.32 435,788,328.07 -4.78
company
Net profit attributable to
shareholders of the listed
company after deduction of
extraordinary gains and losses
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Net cash flow from operating
activities
Basic earnings per share
(RMB/share)
Diluted earnings per share
(RMB/share)
Weighted average return on net Decreased by 0.29
assets (%) percentage points
Change as at the end of
As at the end of the As at the end of the the Reporting Period as
Reporting Period previous year compared to the end of
the previous year(%)
Total assets 35,477,298,744.83 35,414,299,308.64 0.18
Owner's equity attributable to
shareholders of the listed 15,610,934,233.56 15,179,567,286.42 2.84
company
(II) Items and Amounts of Extraordinary Gains and Losses
√Applicable □N/A
Unit: Yuan Currency: RMB
For the
Item Explanations
Reporting Period
Gains and losses on disposal of non-current assets (including the Gain or Loss on disposal of
reversal of previously recognized asset impairment provisions) non-current assets
Government grants recognized in profit or loss for the current
period (excluding government grants that are closely related to Government grants
the business of the Company and are provided in fixed amount 15,606,124.53 recognized in profit or loss
or quantity continuously according to the applicable polices and for the current period
standards of the country).
Gains or losses from changes
Excluding effective hedging activities related to the company's
in the fair value of trading
ordinary operating business, this refers to gains and losses
financial assets/liabilities,
arising from changes in the fair value of financial assets and
-6,790,704.91 and investment income from
financial liabilities held by non-financial enterprises, as well as
holding or disposing of
gains and losses from the disposal of financial assets and
trading financial
financial liabilities.
assets/liabilities
Other non-operating income
Other non-operating income and expenses excluding the above
-3,531,732.49 and expenses not included in
items
the above items
Income tax effects of the
Less: Effect of income tax 4,250,772.79
above items
Portion of the above
Effect of minority equity (after tax) 806,225.09 items attributable to
minority interests
Total 8,927,196.91
For the items not listed in the “Explanatory Announcement No.1 for Public Company Information
Disclosures-Extraordinary Gains or Losses” that the company identifies as non-recurring gains and losses,
especially those with significant amounts, as well as the extraordinary gain or loss items as illustrated in
the “Explanatory Announcement No.1 for Public Company Information Disclosures-Extraordinary Gains
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
or Losses” which has been defined as its recurring gain or loss items, the reasons for such classification
should be explained.
□Applicable √N/A
(III) Changes in Major Accounting Data and Financial Indicators and Reasons Thereof
□Applicable √N/A
(IV) Material Changes in Other Items in Financial Statements and Financial Indicators and Reasons
Thereof
Unit: Yuan Currency: RMB
Balance Sheet Ending Balance Beginning Balance Change Explanation
Mainly due to the maturity and
Financial assets held for
trading
deposits.
Mainly due to new cash management
and reverse repurchase financial asset
Other current assets 774,262,545.86 129,622,238.09 497.32%
investment business in the current
period.
Mainly due to the increase in long-
Other equity instrument
investments
trading during the current period.
Mainly due to changes in the
Financial liabilities held for
trading
exchange contracts.
Mainly due to the payment of prior
Employee benefits payable 181,681,826.43 491,740,918.10 -63.05%
year's annual performance bonuses.
Mainly due to the implementation of
profit distribution plans by non-
Dividends payable 351,946,018.88 14,017,248.88 2410.81% wholly owned subsidiaries, resulting
in an increase in dividends payable in
the current period.
Mainly due to the repayment of long-
Non-current liabilities due
within one year
year.
Mainly due to the adjustment of the
liability structure of subsidiaries,
Long-term borrowings 980,924,622.85 1,572,266,599.04 -37.61%
replacing long-term borrowings with
short-term borrowings.
Mainly due to changes in differences
on translation of foreign currency
Other comprehensive income -182,894,061.28 -134,669,133.15 N/A
financial statements caused by
exchange rate fluctuations.
Income Statement Current Period Same Period Last Year Change Explanation
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Mainly due to the decrease in deposit
Financial costs -14,210,786.86 -85,689,883.97 N/A interest income and the increase in
exchange losses in the current period.
Mainly due to the decrease in
Other income 23,211,325.19 52,547,543.01 -55.83% government grants received in the
current period.
Mainly due to changes in profit or loss
Investment income 49,030,749.99 16,135,173.10 203.87%
of associated companies invested in.
Mainly due to market value
Gains/losses from changes in
-17,658,162.33 1,709,488.73 -1132.95% fluctuations of held securities
fair value
investments.
Mainly due to the decrease in accounts
receivable and the corresponding
Credit impairment losses 659,057.55 -8,180,086.41 N/A
reduction in expected credit
impairment losses.
Mainly due to the decrease in
Asset impairment losses -721,485.11 -6,355,971.69 N/A inventory impairment provisions
compared to the previous period.
Mainly due to an increase in losses
Non-operating expenses 4,525,398.11 2,065,905.08 119.05% related to non-daily operating
activities.
Mainly due to changes in differences
Net other comprehensive on translation of foreign currency
-70,533,335.93 -17,888,787.66 N/A
income after tax financial statements caused by
exchange rate fluctuations.
Cash Flow Statement Current Period Same Period Last Year Change Explanation
Mainly due to the increase in
Net cash flows from investing
-1,014,166,594.53 -260,760,843.96 N/A investment payments compared to the
activities
previous period.
Mainly due to exchange rate
Effect of exchange rate
fluctuations resulting in increased
changes on cash and cash -99,036,350.12 -18,521,599.72 N/A
exchange losses on foreign currency
equivalents
funds held.
II. SHAREHOLDERS
(I) Total Number of Holders of Ordinary Shares and Number of Holders of Preferred Shares with Restored
Voting Rights and Shareholdings of Top 10 Shareholders
Unit: shares
Total number of holders of ordinary Total number of holders of preferred
shares as of the end of the Reporting 76,018 shares with restored voting rights as of the 0
Period end of the Reporting Period (if any)
Shareholdings of the top 10 shareholders
（excluding shares lent through refinancing business）
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Number of Pledge, mark or lock-up
Nature of Number of Percentage shares held
Name of shareholder
shareholder shares held (%) with selling Share
restrictions status
Number
Domestic non-
Shenzhen Baiyeyuan Investment Co., Ltd.
state-owned 895,653,653 48.96 0 No
(深圳市百业源投资有限公司)
legal person
Foreign legal
Might Seasons Limited 35,929,699 1.96 0 Unknown
person
Hong Kong Securities Clearing Company
Unknown 35,743,723 1.95 0 Unknown
Limited
Domestic
Zhang Yongliang 17,542,000 0.96 0 Unknown
natural person
Bank of Shanghai Co., Ltd.－Yinhua CSI
Innovative Drug Industry Trading Open- Unknown 16,515,220 0.90 0 Unknown
end Index Securities Investment Fund
Rui Life Insurance Co., Ltd. -Own fund Unknown 12,739,218 0.70 0 Unknown
CPIC Fund -China Pacific Life Insurance
Co., Ltd. -with-profit insurance-CPIC
Fund China Pacific Life Equity Relative Unknown 9,972,400 0.55 0 Unknown
Income (Guaranteed Dividend) single
asset management plan
Bank of China – GF CSI Innovative Drug
Unknown 9,762,638 0.53 0 Unknown
Industry ETF
Joincare Pharmaceutical Group Industry
Co., Ltd. — the Third Phase Ownership
Scheme under Medium to Long-term Others 9,370,400 0.51 0 No
Business Partner Share Ownership
Scheme
Zhongtai Securities Co., Ltd. – China
Unknown 8,100,400 0.44 0 Unknown
AMC CSI Free Cash Flow ETF
Shareholdings of the top 10 shareholders without selling restrictions
（excluding shares lent through refinancing business）
Number of tradable shares Class and number of shares
Name of shareholder held without selling
Class of shares Number
restrictions
Shenzhen Baiyeyuan Investment Co., Ltd. (深圳市百业源 Ordinary shares
投资有限公司) denominated in Renminbi
Ordinary shares
Might Seasons Limited 35,929,699 35,929,699
denominated in Renminbi
Ordinary shares
Hong Kong Securities Clearing Company Limited 35,743,723 35,743,723
denominated in Renminbi
Ordinary shares
Zhang Yongliang 17,542,000 17,542,000
denominated in Renminbi
Bank of Shanghai Co., Ltd.－Yinhua CSI Innovative Drug
Ordinary shares
Industry Trading Open-end Index Securities Investment 16,515,220 16,515,220
denominated in Renminbi
Fund
Ordinary shares
Rui Life Insurance Co., Ltd. -Own fund 12,739,218 12,739,218
denominated in Renminbi
CPIC Fund -China Pacific Life Insurance Co., Ltd. -with-
profit insurance-CPIC Fund China Pacific Life Equity Ordinary shares
Relative Income (Guaranteed Dividend) single asset denominated in Renminbi
management plan
Ordinary shares
Bank of China – GF CSI Innovative Drug Industry ETF 9,762,638 9,762,638
denominated in Renminbi
Joincare Pharmaceutical Group Industry Co., Ltd. — the
Ordinary shares
Third Phase Ownership Scheme under Medium to Long- 9,370,400 9,370,400
denominated in Renminbi
term Business Partner Share Ownership Scheme
Zhongtai Securities Co., Ltd. – China AMC CSI Free Cash Ordinary shares
Flow ETF denominated in Renminbi
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
There was no connection or acting-in-concert relationship between Shenzhen
Description of connection or acting-in-concert relationship Baiyeyuan Investment Co., Ltd., a controlling shareholder of the Company,
of the above shareholders and other shareholders; whether there is connection or acting-in-concert
relationship among other shareholders is unknown.
Description of the participation of the top 10 shareholders
and the top 10 shareholders without selling restrictions in Shareholder Zhang Yongliang holds 16,500,000 shares of the Company
margin financing and securities lending and refinancing through a credit and guarantee account.
business (if any)
Participation of shareholders holding over 5%, the top 10 shareholders, and the top 10 shareholders
without selling restriction in securities lending transactions of refinancing business
□Applicable √N/A
Changes in the top 10 shareholders and the top 10 shareholders without selling restriction due to
securities lending/returning transactions of refinancing business compared to the previous period
□Applicable √N/A
III. OTHER REMINDERS
Other important information regarding the Company’s operations during the Reporting Period to which
investors should be reminded to pay attention.
□Applicable √N/A
IV. QUARTERLY FINANCIAL STATEMENTS
(I) Audit Opinion
□Applicable √N/A
(II) Financial Statements
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Consolidated Balance Sheet
Prepared by: Joincare Pharmaceutical Group Industry Co., Ltd.
Unit: Yuan Currency: RMB Audit status: Unaudited
Item 31 March 2026 31 December 2025
Current assets:
Cash and cash equivalents 12,868,686,284.47 13,610,715,754.64
Financial assets held for trading 1,045,630,595.51 1,694,102,766.69
Notes receivable 1,505,357,504.00 1,636,435,183.16
Accounts receivable 2,769,059,544.58 2,722,328,581.17
Receivables financing
Prepayments 238,015,225.74 202,964,890.16
Other receivables 55,399,277.61 69,355,886.15
In which: Interests receivable
Dividends receivable
Inventories 2,126,886,598.33 2,213,802,715.08
Contract assets
Assets held-for-sale
Non-current assets due within one year 767,206,487.07 880,840,324.51
Other current assets 774,262,545.86 129,622,238.09
Total current assets 22,150,504,063.17 23,160,168,339.65
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investment 1,478,200,827.63 1,483,192,139.93
Other equity instrument investments 2,323,327,871.47 990,428,693.50
Other non-current financial assets
Investment properties 15,066,225.28 15,276,446.14
Fixed assets 5,328,362,413.40 5,421,615,752.18
Construction in progress 664,273,287.83 615,348,388.91
Productive biological assets
Oil and gas assets
Right-of-use assets 43,623,168.16 43,784,500.37
Intangible assets 860,991,449.09 885,697,302.13
Development expenditures 371,462,003.29 364,875,894.36
Goodwill 636,339,503.82 636,339,503.82
Long-term deferred expenses 316,265,661.41 314,844,828.54
Deferred income tax assets 810,554,668.00 822,667,725.40
Other non-current assets 478,327,602.28 660,059,793.71
Total non-current assets 13,326,794,681.66 12,254,130,968.99
Total assets 35,477,298,744.83 35,414,299,308.64
Current liabilities:
Short-term loans 2,817,316,268.37 2,240,000,000.00
Financial liabilities held for trading 950,782.80 487,431.05
Notes payable 1,223,285,819.22 1,295,877,244.31
Accounts payable 658,154,090.79 691,432,568.22
Receipts in advance
Contract liabilities 105,466,411.34 121,567,789.34
Employee benefits payable 181,681,826.43 491,740,918.10
Taxes payable 284,046,850.77 240,737,007.47
Other payables 3,993,061,181.00 3,392,845,948.69
In which: Interests payable
Dividends payable 351,946,018.88 14,017,248.88
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Liabilities held-for-sale
Non-current liabilities due within one year 86,124,458.61 373,229,691.10
Other current liabilities 5,896,788.45 7,996,328.84
Total current liabilities 9,355,984,477.78 8,855,914,927.12
Non-current liabilities:
Long-term loans 980,924,622.85 1,572,266,599.04
Bonds payable
Lease liabilities 21,780,660.17 21,905,133.24
Long-term payables
Long-term payroll payable
Estimated liabilities
Deferred income 320,480,802.61 327,844,468.42
Deferred income tax liabilities 268,544,369.24 268,219,857.78
Other non-current liabilities
Total non-current liabilities 1,591,730,454.87 2,190,236,058.48
Total liabilities 10,947,714,932.65 11,046,150,985.60
Owner's equity (or shareholder's equity):
Paid-in capital 1,829,453,386.00 1,829,453,386.00
Other equity instruments
In which: Preferred shares
Perpetual debts
Capital reserve 1,206,889,611.84 1,142,268,958.89
Less: Treasury shares
Other comprehensive income -182,894,061.28 -134,669,133.15
Special reserve
Surplus reserve 940,060,474.71 940,060,474.71
Undistributed profits 11,817,424,822.29 11,402,453,599.97
Total owner's equity (or shareholder's equity)
attributable to the parent
Minority shareholder's equity 8,918,649,578.62 9,188,581,036.62
Total owner's equity (or shareholder's equity) 24,529,583,812.18 24,368,148,323.04
Total liabilities and owner's equity (or
shareholder's equity)
Person-in-charge of the Person-in-charge of the Person-in-charge of the
Company: Zhu Baoguo Company's accounting work: accounting department:
Qiu Qingfeng Guo Chenlu
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Consolidated Income Statement
From January to March, 2026
Prepared by: Joincare Pharmaceutical Group Industry Co., Ltd.
Unit: Yuan Currency: RMB Audit status: Unaudited
First quarter First quarter
Item (January to March) (January to March)
for 2026 for 2025
I. Total revenues 3,721,497,528.96 4,089,279,479.56
In which: Operating revenues 3,721,497,528.96 4,089,279,479.56
II. Total operating costs 2,735,585,338.28 2,993,038,861.04
In which: Operating costs 1,369,914,508.98 1,558,416,030.26
Operating tax and surcharges 47,429,371.86 48,498,322.81
Selling expenses 896,557,271.61 950,570,599.38
Administrative expenses 202,193,332.67 220,886,435.03
R&D expenses 233,701,640.02 300,357,357.53
Financial costs -14,210,786.86 -85,689,883.97
In which: Interest expenses 15,498,377.11 22,898,186.53
Interest income 64,901,627.44 110,971,266.84
Add: Other income 23,211,325.19 52,547,543.01
Income from investments (loss is
indicated by“-”)
In which: Income from investments
in associates and joint ventures
Gains from derecognition of financial
assets at amortized cost
Gains from net exposure hedges (loss
is indicated by“-”)
Gains from changes in fair values
-17,658,162.33 1,709,488.73
(loss is indicated by“-”)
Losses of credit impairment (loss is
indicated by“-”)
Assets impairment loss (loss is
-721,485.11 -6,355,971.69
indicated by“-”)
Gains from disposal of assets (loss is
-64,051.92 -86,129.77
indicated by“-”)
III. Operating profit (loss is indicated
by“-”)
Add: Non-operating income 993,665.62 1,173,822.28
Less: Non-operating expenses 4,525,398.11 2,065,905.08
IV. Total profit (loss is indicated by“-”) 1,036,837,891.56 1,151,118,552.69
Less: Income tax expenses 153,387,190.67 189,994,779.68
V. Net profit (loss is indicated by“-”) 883,450,700.89 961,123,773.01
(I) Classified by business continuity
(loss is indicated by“-”)
operation (loss is indicated by“-”)
of the parent (loss is indicated by“-”)
shareholders (loss is indicated by“-”)
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
VI. Other comprehensive income, net of
-70,533,335.93 -17,888,787.66
tax
(I) Other comprehensive income
attributable to owners of the parent, net -48,224,928.13 -10,275,802.84
of tax
-6,371,630.07 -397,008.63
cannot be reclassified into profit or loss
(1) Changes from remeasurement of
defined benefit plans
(2) Other comprehensive income that
cannot be reclassified into profit or loss
under the equity method
(3) Changes in fair value of
-6,371,630.07 -397,008.63
investments in other equity instruments
(4) Changes in fair value of the
enterprise's own credit risks
-41,853,298.06 -9,878,794.21
will be reclassified into profit or loss
(1) Other comprehensive income that
can be reclassified into profit or loss under -6,070.02
the equity method
(2) Changes in fair value of other
debt investments
(3) Amount of financial assets
reclassified into other comprehensive
income
(4) Provision for credit impairment of
other debt investments
(5) Reserve for cash flow hedges
(6) Exchange translation differences
on financial statements denominated in -41,847,228.04 -9,878,794.21
foreign currencies
(7) Others
(II) Other comprehensive income
attributable to minority shareholders, net -22,308,407.80 -7,612,984.82
of tax
VII. Total comprehensive income 812,917,364.96 943,234,985.35
(I) Total comprehensive income
attributable to owners of the parent 366,746,294.19 425,512,525.23
company
(II) Total comprehensive income
attributable to minority shareholders
Ⅷ. Earnings per share
(I) Basic earnings per share (RMB/share) 0.23 0.23
(II) Diluted earnings per share
(RMB/share)
Person-in-charge of the Person-in-charge of the Person-in-charge of the
Company: Zhu Baoguo Company's accounting work: accounting department:
Qiu Qingfeng Guo Chenlu
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
Consolidated Cash Flow Statement
From January to March, 2026
Prepared by: Joincare Pharmaceutical Group Industry Co., Ltd.
Unit: Yuan Currency: RMB Audit status: Unaudited
First quarter First quarter
Item (January to March) (January to March)
for 2026 for 2025
I. Cash flow from operating activities:
Cash received from sales of goods and rendering
of services
Tax refunds received 48,019,605.58 53,920,695.28
Other cash received related to operating activities 101,003,415.88 144,492,768.78
Subtotal of cash inflow from operating
activities
Cash paid for goods and services 1,094,741,553.68 1,134,678,823.97
Cash paid to and on behalf of employees 914,021,168.65 939,376,195.58
Payments of all types of taxes 373,841,059.80 479,343,979.71
Other cash paid related to operating activities 913,587,428.07 1,064,959,931.17
Subtotal of cash outflow in operating activities 3,296,191,210.20 3,618,358,930.43
Net cash flow from operating activities 914,648,142.82 809,939,509.20
II. Cash flow from investing activities:
Cash received from disposal of investment 3,628,074,995.06 99,205,834.44
Cash received from investment income 9,065,550.16 10,049,044.41
Net cash received from disposal of fixed assets,
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries
and other business units
Other cash received related to investing activities 6,453,630.00
Subtotal of cash inflow from investing
activities
Cash paid for purchase and construction of fixed
assets, intangible assets and other long-term assets
Cash paid for investment 4,533,897,230.45 185,644,515.80
Net cash paid for acquisition of subsidiaries and
other business units
Other cash paid related to investing activities 2,246,769.44 4,132,806.07
Subtotal of cash outflow in investing activities 4,707,937,795.84 376,869,940.81
Net cash flow from investing activities -1,014,166,594.53 -260,760,843.96
III. Cash flow from financing activities:
Cash received from capital contribution 15,000,000.00 3,350,000.00
In which: Cash received from investment by
minority interests of subsidiaries
Cash received from borrowings 1,776,432,252.90 782,140,000.00
Other cash received related to financing activities
Subtotal of cash inflow from financing
activities
Cash repayments of amounts borrowed 2,079,462,186.24 766,740,000.00
Cash payments for interest expenses and
distribution of dividends or profits
In which: Dividends and profit paid minority
interests of subsidiaries
Other cash payments related to financing
activities
Subtotal of cash outflow in financing activities 2,437,589,893.55 1,300,042,145.74
Net cash flow from financing activities -646,157,640.65 -514,552,145.74
Joincare Pharmaceutical Group Industry Co., Ltd. 2026 First Quarterly Report
IV. Effect of exchange rate fluctuations on cash
-99,036,350.12 -18,521,599.72
and cash equivalents
V. Net increase in cash and cash equivalents -844,712,442.48 16,104,919.78
Add: Opening balance of cash and cash
equivalents
VI. Closing balance of cash and cash equivalents 10,900,982,652.47 14,858,750,598.10
Person-in-charge of the Person-in-charge of the Person-in-charge of the
Company: Zhu Baoguo Company's accounting work: accounting department:
Qiu Qingfeng Guo Chenlu
(Ⅲ) Implementation of new accounting standards or interpretations of standards, for the first time from
□Applicable √N/A
Hereby the announcement is made.
Joincare Pharmaceutical Group Industry Co., Ltd.
首页
微信公众号
证券之星APP
