Chinese Health: 2025 Annual Report Summary
Summary of the 2025 Annual Report of Anhui Huaren Health Pharmaceutical Co., Ltd.
Securities code: 301408 Securities abbreviation: Chinese Health Announcement number: 2026-009
Anhui Chinese Health Pharmaceutical Co., Ltd.
2025 Annual Report Summary
1. Important tips
The summary of this annual report comes from the full text of the annual report. In order to fully understand the company's operating results, financial status and future development plans, investors should go to the media designated by the China Securities Regulatory Commission to carefully read the full text of the annual report.
All directors have attended the board meeting where this report was considered.
The audit opinion of Gongzheng Tianye Accounting Firm (Special General Partnership) on the company's financial report for this year is: standard unqualified opinion.
Non-standard audit opinion tips
□Applicable Not applicable
The company was not profitable when it went public and is not currently profitable.
□Applicable Not applicable
The profit distribution plan for the reporting period or the plan for converting public reserve funds into share capital reviewed by the board of directors
Applicable □Not applicable
The company's profit distribution plan reviewed and approved by the board of directors this time is: based on 400,010,000, a cash dividend of 1 yuan (tax included) will be distributed to all shareholders for every 10 shares, 0 bonus shares (tax included) will be given, and capital reserve funds will be transferred to all shareholders to increase 0 shares for every 10 shares.
Preferred stock profit distribution plan for the reporting period approved by the board of directors
□Applicable □Not applicable
2. Basic situation of the company
- Company profile
Stock abbreviation Chinese Health Stock Code 301408 Stock Exchange Shenzhen Stock Exchange
Contact person and contact information Secretary of the Board of Directors Name of securities affairs representative Li Mei Huang Lianlian
Hebei, Baohe District, Hefei City, Anhui Province Hebei Office Address, Baohe District, Hefei City, Anhui Province
Building A1, No. 123 Road Building A1, No. 123 Road Fax 0551-63677610 0551-63677610 Telephone 0551-62862668 0551-62862668 Email [email protected] [email protected]
Summary of the 2025 Annual Report of Anhui Huaren Health Pharmaceutical Co., Ltd.
- Introduction to main business or products during the reporting period
(1) Overview of the company’s main business
Chinese Health was founded in 2001 and is headquartered in Hefei City, Anhui Province. It was acquired by the existing team in 2008. It is an ecological pharmaceutical company with the entire industry chain as the core anchor of the pharmaceutical industry. Relying on core business carriers such as Guosheng Pharmacy, Quanfang Pharmaceutical, Shenhua Pharmaceutical and Zhengyao Technology, the company has in-depth layout in the four core areas of pharmaceutical retail, pharmaceutical marketing, terminal centralized procurement, R&D and production, and has built a unique "four-in-one" pharmaceutical and health ecological pattern. At the same time, the company uses the Pharmacy Business School, the Digital Intelligence Research Institute, and the New Drug Research Institute as its three core enabling engines. The Pharmacy Business School outputs standardized operation systems, professional talents, and business technology support for all-channel terminals, the Digital Intelligence Research Institute builds a digital and intelligent technology platform for the entire industry chain, and the New Drug Research Institute continues to deliver technological achievements and product pipelines to the industrial ecology, comprehensively consolidating the vertical integration capabilities of upstream intelligent manufacturing and downstream terminal health services, and ultimately forming an industrial synergy of two-way development and full-chain symbiosis.
The company's main business platform has clear goals, clear positioning, and business synergy: Guosheng Pharmacy, as the core channel network facing consumers directly, adopts the regional strategy of "deeply cultivating Anhui, focusing on East China, and radiating surrounding areas". Its number of stores and membership scale rank first in Anhui Province, and it is the company's solid fortress in the retail terminal market. The Chinese Health Platform is the first to create a one-stop supply chain service model with front-end stores and back-end factories and resource sharing. Relying on the CSO brand direct supply model, it has become a professional service bridge connecting industry and terminals. It not only provides upstream pharmaceutical companies with precise channel access, but also provides high-quality product mix and operational services to downstream terminals, playing an irreplaceable hub value in the field of pharmaceutical marketing. Quanfang Pharmaceutical is committed to providing comprehensive empowerment of all categories for small and medium-sized pharmacies, and has become a key engine for the company's transformation into a national terminal empowerment platform. As a well-known fungal drug R&D and production base in China, Shenhua Pharmaceutical has deep technical reserves in the fields of synthetic biology and fungal drug fermentation. Its product lines cover APIs, chemical drugs, Chinese patent medicines, health care products, etc., which is an important support for the company's R&D and manufacturing sector; with this At the same time, Zhengyao Technology focuses on the research and development of innovative drugs, biologic drugs and high-end generic drugs. It is a key innovation platform for the company to plan for future growth and tackle cutting-edge technologies. Together with Shenhua Pharmaceutical, it will consolidate the company’s technological depth extending to upstream manufacturing and continue to inject innovative vitality into the industrial ecology. This ecological pattern of strategic synergy and full-chain symbiosis has enabled the company to not only establish an unshakable leading position in Anhui Province, but also demonstrate excellent strategic flexibility and growth potential in cross-regional expansion and response to industry changes.
During the reporting period, the company firmly promoted the "1234" full ecological strategy, which takes the pharmaceutical industry as the core anchor, focuses on the coordinated development of the product matrix and terminal network, relies on the continuous empowerment of the three major engines of the Pharmacy Business School, Digital Intelligence Research Institute, and New Drug Research Institute to comprehensively deepen resource sharing and business collaboration among the four major business platforms of pharmaceutical retail, pharmaceutical marketing, terminal procurement, and R&D and production. In 2025, the company's all-ecological strategy has achieved remarkable results, with each business segment synergizing and achieving substantial growth in revenue and profits.
(2) The company’s main business model: four major platforms collaborate and symbiosis, and the entire chain ecology releases multiplier effects
Pharmaceutical retail sector (Guosheng Pharmacy): Paying equal attention to network development and professional services
Summary of the 2025 Annual Report of Anhui Huaren Health Pharmaceutical Co., Ltd.
As the core terminal network facing consumers directly, Guosheng Pharmacy takes "professional quality, affordable price and convenience" as its business philosophy and is committed to providing consumers with one-stop health services such as professional pharmaceutical consultation, medication guidance, chronic disease management and health stations. Adopting the multi-wheel drive model of "direct operation + franchising + mergers and acquisitions", adhering to the strategic development policy of "deeply cultivating Anhui, focusing on East China, and radiating to surrounding areas", we continue to promote network layout. As of the end of the reporting period, the number of stores and sales scale ranked first in Anhui Province. The dense store network, complete membership system and strong localized professional service capabilities have enabled it to form strong brand influence and consumer awareness in the regional market.
Pharmaceutical marketing sector (Chinese Health Platform): two-wheel drive of product empowerment and service empowerment
As a leading national pharmaceutical brand service provider in China, the company is deeply involved in OTC marketing and chain omni-channel services. On the one hand, with general distribution, OEM customization and private brands (such as Ke Anshu) as the core, we build a product matrix covering eight core tracks to provide high-differentiation and high value-added high-quality product supply for cooperative terminals; on the other hand, relying on its Chinese Health Business School, we provide full-cycle business solutions covering standardized store operations, full-case marketing planning, and professional talent echelon construction to cooperative customers, binding long-term and stable customer cooperation relationships with deep empowerment. Relying on the company's ecological layout of the entire industry chain, the company relies on its national mature channel network, flexible and diversified cooperation models and full-link service empowerment to build differentiated competition barriers with a deep integration of "products + services" in the field of pharmaceutical marketing. Terminal centralized procurement sector (Quanfang Pharmaceutical): platform empowerment and alliance-style symbiosis
Quanfang Pharmaceutical focuses on serving the vast number of small and medium-sized chains, independent pharmacies and primary medical terminals. Through the innovative provincial Ruimeng co-construction platform model, it provides a one-stop supply chain full category solution of "commodity centralized procurement + operational guidance + system linkage". In terms of business model, it has built a two-wheel drive structure with a member store system and a national sales control network in parallel, and realized direct supply of goods and digital services through its self-built B2B platform. The company has established a solid base market in Anhui Province and has shown strong development momentum in the expansion of the national sinking market. It is transforming from a regional centralized procurement service provider to a national terminal empowerment platform. The company achieves efficient connections through its own B2B platform. Under the alliance mechanism of win-win cooperation, rapid and low-cost in-depth coverage of sinking markets has been achieved.
R&D and production sector (Shenhua Pharmaceutical & Zhengyao Technology): Specialized manufacturing and forward-looking R&D simultaneously
The company has built complete industrial capabilities from R&D to production through a combination of self-construction (Zhengyao Technology) and mergers and acquisitions (Shenhua Pharmaceutical). Shenhua Pharmaceutical is a leading company in the field of fungal drugs in China, focusing on the research, development and application of fungal fermentation technology. Its main products include Yunzhi mushroom capsules, cordyceps fungus powder and other special traditional Chinese medicine preparations, as well as medicinal excipients such as xanthan gum, which are the manufacturing cornerstone of the company's differentiated products. Zhengyao Technology focuses on the research and development of innovative drugs, biological drugs and high-end generic drugs in the treatment fields of cardiovascular, digestive system, respiratory system and other fields, and has built a rich product pipeline under development, which is an innovation engine for the future. The two adopt an open innovation model of "independent research and development + cooperative development + approval introduction" and maintain in-depth cooperation with multiple R&D institutions to ensure the company's current product competitiveness and the promotion gradient of new products, and provide a sustainable source of product innovation and production and manufacturing support for the entire business ecosystem.
Through resource interoperability, data sharing, and complementary capabilities, the four major business segments have built a benign ecological closed loop with full-link linkage and two-way empowerment. The retail terminal provides real business data and market insights for the R&D side, and builds a solid scale chassis and channel foundation for the centralized procurement and marketing business; the centralized procurement business relies on the advantages of large-scale procurement to reduce procurement costs and optimize the product structure for the retail and marketing sectors; the pharmaceutical marketing sector links upstream and downstream funds Source, it broadens the category supply for retail terminals, enriches the product matrix for centralized purchasing platforms, and at the same time delivers industry trends and industrial cooperation opportunities to the R&D and manufacturing end; the R&D and manufacturing sector delivers differentiated, high value-added core products to retail, marketing, centralized procurement and other sectors, and builds source product barriers. At the same time, the three major empowerment engines of Pharmacy Business School, Digital Intelligence Research Institute, and New Drug Research Institute continue to inject professional talents, digital intelligence technology, innovative products and core R&D momentum into the entire ecosystem, forming a two-wheel drive pattern of "business closed loop + professional empowerment". This unique ecological model of "one body, two wings, three pillars and four pillars" allows the company to demonstrate strong strategic resilience and endogenous growth during the period of profound changes and adjustments in the pharmaceutical industry. It not only continues to consolidate its leading position in Anhui Province, but also builds a core competitive advantage that is difficult to replicate in its national layout and cross-regional expansion.
(3) Main performance drivers: Following the policy trend and promoting ecological strengths
In the face of changes in pharmaceutical industry policies, environment, and market, the company has unswervingly followed the path of high-quality development, continuously optimized its business structure, adhered to marketing innovation, insisted on network construction, and continuously increased investment in research and development. Through organizational changes, refined management, category marketing, digital intelligence upgrades and other measures, it achieved substantial progress in each business segment during the reporting period.
Summary of the 2025 Annual Report of Anhui Huaren Health Pharmaceutical Co., Ltd.
Complying with changes and forward-looking layout: Under the trend of pharmaceutical division and outflow of prescriptions, the company continues to strengthen the professional service capabilities of Guosheng Pharmacy, and constantly improves hospital-side stores, DTP pharmacies, coordinated stores and dual-channel qualification layout; in the context of increasing chain concentration rates and compressing the living space of small and medium-sized pharmacies, supply chain and operational support are provided through Chinese Health and Quanfang Pharmaceutical to help small and medium-sized pharmacies optimize their product structure, improve their operation and management level, and achieve steady growth; in the face of industry data In the wave of intelligent transformation, the company has deployed digital intelligence research institutes in advance, deeply applying AI and big data to the operation links of various sectors; focusing on cutting-edge field trends, laying out long-term R&D pipelines through Zhengyao Technology Platform; seizing the opportunities of the silver economy and healthy consumption upgrades, diversifying the supply of health products, medical devices and health services. This forward-looking and diversified layout that follows the trend provides strong momentum for the company's continued growth.
Network expansion and quality and efficiency improvement: Guosheng Pharmacy has completed full coverage of 16 prefecture-level cities in Anhui Province. It has completed strategic layout through mergers and acquisitions in economically developed Jiangsu, Zhejiang and Fujian provinces, opening up room for growth. The total number of stores has reached 2,296. By deepening the "three reductions and three improvements" business strategy, procurement costs and rental costs have been effectively optimized, member stickiness has continued to increase, and the number of members has increased by 3 million. Through omni-channel marketing and online and offline coordinated development, new retail business sales reached 768 million yuan, with strong growth momentum.
Model innovation and alliance collaboration: The Chinese Health Platform uses the CSO brand direct supply model to link thousands of upstream pharmaceutical companies and nearly 3,000 chain pharmacies, forming a large-scale marketing network. Its pharmacy business school exports standardized operation systems and professional training to the pharmaceutical retail industry, empowering terminal capabilities to continuously upgrade. Quanfang Pharmaceutical focuses on serving the vast number of small and medium-sized chains, independent pharmacies and primary medical terminals. Through the innovative provincial Ruimeng co-construction platform model, it provides a one-stop supply chain full category solution of "commodity centralized procurement + operational guidance + system linkage". This model has been successfully verified in Hebei, Shandong and other places. In June 2025, it was renamed from "Huida Pharmaceutical" to "Quanfang Pharmaceutical", marking the strategic transformation from a regional service provider to a national platform enterprise. At present, Quanfang Pharmaceutical has established a solid base in Anhui and occupies a unique ecological niche in the country's lower-tier markets, showing strong late-mover advantages and growth potential.
Digital Intelligence Empowerment and Efficiency Improvement: The company's holding subsidiary Hefei Jiezhu Pharmaceutical Technology Co., Ltd. (i.e. Digital Intelligence Research Institute) is a national high-tech enterprise and a big data enterprise in Hefei. Through the Digital Intelligence Research Institute, the company has successfully completed the development of its own large model (Resi AI large model), terminal intelligent assistant and multiple agents, significantly improving management and decision-making efficiency. The intelligent replenishment system has helped reduce the out-of-stock rate and improve logistics and distribution timeliness. More than 95% of stores across the country have implemented digital tool applications, building an industry-leading technological advantage.
Ecological integration and barrier construction: In the context of the cycle of profound changes and adjustments in the pharmaceutical and health industry, the company has gone through several years of careful layout and industry development, and has successfully transformed into a four-in-one, highly coordinated and scientifically laid out pharmaceutical industry ecological enterprise of "pharmaceutical retail, pharmaceutical marketing, terminal procurement, R&D and production". Through the ecological model of "one body, two wings, three pillars and four pillars", the company has achieved efficient linkage across the entire chain, allowing the company to demonstrate stronger adaptability and growth potential in industry competition. This model not only reflects the company's deep insight into industry trends, but also demonstrates its unique advantages in resource integration, complementary capabilities and innovative breakthroughs.
- Main accounting data and financial indicators
(1) Main accounting data and financial indicators in the past three years
Whether the company needs to retroactively adjust or restate previous years’ accounting data
□Yes No
Yuan
End of 2025 End of 2024 Increase or decrease at the end of this year compared with the end of the previous year Total assets at the end of 2023 5,488,333,141.47 4,828,108,351.67 13.67% 4,611,697,919.65 Attributable to shareholders of listed companies
2,096,977,526.88 2,005,289,910.33 4.57% Net assets of 1,943,533,127.04
2025 2024 Increase or decrease this year compared with the previous year Operating income in 2023 5,486,683,545.91 4,531,692,295.23 21.07% 3,797,160,297.68
Summary of the 2025 Annual Report of Anhui Huaren Health Pharmaceutical Co., Ltd.
Attributable to shareholders of listed companies
191,352,661.67 137,699,528.81 38.96% Net profit of 114,667,584.92
Attributable to shareholders of listed companies
Net profit after deducting non-recurring gains and losses 185,407,173.90 129,048,863.19 43.67% 105,941,242.03
Cash generated from operating activities
837,181,168.49 571,758,266.40 46.42% 131,373,207.72 Net flow
Basic earnings per share (yuan/
0.48 0.34 41.18% 0.29 shares)
Diluted earnings per share (yuan/
0.48 0.34 41.18% 0.29 shares)
weighted average net asset income
9.25% 6.96% 2.29% 6.59% rate
(2) Main accounting data by quarter
Unit: Yuan
First quarter Second quarter Third quarter Fourth quarter operating income 1,266,847,107.00 1,237,057,348.17 1,388,559,655.82 1,594,219,434.92 Attributable to shareholders of listed companies
Net profit of 61,222,277.52 42,520,811.20 52,983,487.04 34,626,085.91
Attributable to shareholders of listed companies
Net profit after deducting non-recurring gains and losses 59,702,002.89 41,108,064.15 50,517,383.09 34,079,723.77
Cash generated from operating activities
363,317,692.33 168,349,426.81 58,310,023.84 247,204,025.51 Net flow
Are there any significant differences between the above financial indicators or their totals and the relevant financial indicators disclosed by the company in quarterly reports and semi-annual reports?
□Yes No
- Share capital and shareholders
(1) The number of common shareholders and preferred shareholders whose voting rights have been restored, and the shareholding status of the top 10 shareholders
Unit: Share Annual Report Holding Special
Reporting period end table before annual report disclosure date
Common voting shares at the end of the reporting period before the disclosure date
The voting rights are restored at the end of one month
Total shareholders of ordinary shares 29,115 At the end of one month 26,630 0 0 shareholders 0
Preference shareholders Total number of preference shareholders
Number of shares of common stock Total number (such as total number of shares
East total (yes)
Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)
Holding conditions for sale restrictions Pledge, mark or freeze Name of shareholder Nature of shareholder Shareholding ratio Number of shares held
Number of shares Share status Quantity
Nature within the territory
He Jiale 50.12% 200,493,326.00 200,493,326.00 Pledge 28,000,000.00 people
Nature within the territory
He Jialun 6.89% 27,572,335.00 27,572,335.00 Not applicable 0.00
people
Suzhou Saifupu is not a national territory
3.18% 12,731,806.00 0.00 Not applicable 0.00 Xin Medical Health has a legal person
Summary of the 2025 Annual Report of Anhui Huaren Health Pharmaceutical Co., Ltd.
Industrial investment in progress
Heart (finite combination)
Guy)
Ali Health Department
non-state within territory
Technology (China) 3.00% 12,000,247.00 0.00 Not applicable 0.00
Have legal person
Ltd.
Ningbo Meishanbao
Shuigang District Shengfan
non-state within territory
Investment partnership 2.06% 8,221,509.00 8,221,509.00 Not applicable 0.00
Have legal person
Industry (limited partnership)
Guy)
Ningbo Meishanbao
Tax Harbor District Furman
non-state within territory
Medical investment partnership 1.73% 6,923,376.00 6,923,376.00 Not applicable 0.00
Have legal person
Enterprise (Limited
partnership)
Huangshan Saifu Hotel
Tourism culture industry
non-state within territory
Development Fund 1.38% 5,531,365.00 0.00 Not applicable 0.00
Have legal person
(Limited
Guy)
Hefei Kangfan Stock
Equity Investment Partnership Domestic Non-State
1.01% 4,056,665.00 4,056,665.00 Not applicable 0.00 Enterprise (limited) Legal person
partnership)
Hefei Shida Stock
Equity Investment Partnership Domestic Non-State
0.89% 3,570,136.00 3,570,136.00 Pledge 3,570,000.00 Enterprise (limited) Legal person
partnership)
Huatai Zijin Investment
limited liability
Company-Nanjing
Huatai Health
Others 0.60% 2,382,231.00 0.00 Not applicable 0.00 No. 1 Equity Investment
partnership
(Limited
Guy)
He Jiale and He Jialun are brothers; Suzhou Saifu Puxin Medical and Health Industry Investment Center (Limited Partnership) and Huangshan Saifu Tourism Cultural Industry Development Fund (Limited Partnership) are enterprises under the same control. Explanation of Ningbo Meishan Bonded Port Zone Shengfan Investment Partnership (Limited Partnership) and Hefei Shida Equity Investment Partnership (Limited Partnership) are the same executive partners.
Except for the above-mentioned related relationships, the company does not know whether other shareholders have related relationships or are persons acting in concert.
The situation of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participating in the refinancing business and lending shares
□Applicable Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed from the previous period due to refinancing lending/returning.
□Applicable Not applicable
Whether the company has differential voting rights arrangements
□Applicable Not applicable
(2) Total number of preferred shareholders of the company and shareholding status of the top 10 preferred shareholders
The company has no preference shareholders’ shareholdings during the reporting period.
Anhui Huaren Health Pharmaceutical Co., Ltd. 2025 Annual Report Summary (3) Discloses the property rights and control relationship between the company and the actual controller in the form of a block diagram
- Bonds existing on the date of approval of the annual report □Applicable Not applicable
3. Important matters
None.