Bloomage Biotech 华熙生物
One significant filing since 31 May 2026, on dividend (7 Jul 2026): 华熙生物2025年年度权益分派实施公告.
自 31 May 2026 起有一份重大公告（dividend，7 Jul 2026）：华熙生物2025年年度权益分派实施公告。
Price History 价格走势
1 session 个交易日, Mon 28 Sep 2026 · Live one-minute prices · High 最高 ¥35.02 · Low 最低 ¥34.32 · −0.78% on the previous close of ¥34.70As of 25 Sep 2026 截至2026年9月25日
Bloomage Biotech is a medical aesthetics company listed on the Shanghai Stock Exchange since 6 Nov 2019. The company reported a revenue decline of 21.8% in 2025 to RMB4.20bn, following a drop from RMB5.37bn in 2024. Despite lower revenue, attributable net profit rose 67.6% to RMB292.1m, supported by improved profitability and strong operating cash flow, which reached RMB1.30 per share, ahead of net profit at a ratio of 2.16x. Gross margin remained high at 70.3%. The balance sheet is healthy, with liabilities to assets at 19.8% as of 30 Jun 2026. However, revenue has declined for two consecutive years, raising concerns about growth sustainability. The company's valuation remains high, with a P/E TTM of 74.6.
华熙生物是一家医疗美容公司，于2019年11月6日在上交所上市。2025年营业收入同比下降21.8%至41.99亿元，较2024年的53.71亿元继续下滑。尽管收入下降，归属于母公司股东的净利润同比增长67.6%至2.92亿元，毛利率保持在70.3%的高位，每股经营现金流达1.30元，经营现金流与净利润之比为2.16倍，显示盈利质量较好。截至2026年6月30日，资产负债率为19.8%，财务结构稳健。但收入已连续两年下滑，增长可持续性存疑。公司估值较高，市盈率（TTM）为74.6。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Revenue down 20% or more on the year before 营业收入同比下降20%或以上 | Revenue has declined by more than 20% year-on-year. 营业收入同比下滑超过20%。 | A sustained revenue decline may signal weakening demand or competitive pressures, threatening future profitability despite recent net profit growth. The six-month data for 2026 shows a further revenue drop of 22.3%, indicating the trend has not reversed. 持续的收入下滑可能反映需求减弱或竞争压力加大，尽管近期净利润增长，但仍威胁未来盈利能力。2026年上半年数据显示营业收入继续同比下降22.3%，表明趋势尚未扭转。 |
- Revenue change in the full year 2026 compared to 2025
2026全年营业收入相比2025年的变动情况 - Attributable net profit in the full year 2026
2026全年归属于母公司股东的净利润 - Operating cash flow to net profit ratio in 2026
2026年经营现金流与净利润之比 - Inventory days as of year-end 2026
截至2026年末的存货周转天数 - Gross margin in the full year 2026
2026全年毛利率 - Liabilities to assets ratio as of year-end 2026
截至2026年末的资产负债率
- Company: Bloomage Biotech 华熙生物, Shanghai Stock Exchange 688363; industry Medical Aesthetics; listed 6 Nov 2019.
公司：华熙生物，上海证券交易所 688363；行业：医疗美容；上市日期：2019年11月6日。 - Close on 24 Sep 2026 RMB34.70; close on 24 Sep 2025 RMB55.13, RMB54.84 in today's terms; one-year change, adjusted for distributions and share changes -36.7%.
2026年9月24日收盘价34.70元；2025年9月24日收盘价55.13元（前复权54.84元）；一年涨跌幅（复权）-36.7%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB33.29 to RMB56.26.
52周区间（前复权）33.29元至56.26元。 - Market capitalisation RMB16.71bn; P/E TTM 74.6; price to book 2.36x.
总市值167.14亿元；市盈率（TTM）74.6；市净率2.36倍。 - Revenue 2025 RMB4.20bn; 2024 RMB5.37bn; change -21.8%.
营业收入2025年41.99亿元；2024年53.71亿元；同比-21.8%。 - Attributable net profit 2025 RMB292.1m; 2024 RMB174.3m; change +67.6%.
归属于母公司股东的净利润2025年2.92亿元；2024年1.74亿元；同比+67.6%。 - Net profit excluding non-recurring items, 2025 change +73.8%.
2025年扣除非经常性损益后的净利润同比+73.8%。 - Basic EPS 2025 RMB0.61; 2024 RMB0.36.
基本每股收益2025年0.61元；2024年0.36元。 - Operating cash flow per share 2025 RMB1.30; 2024 RMB1.17; operating cash flow to net profit 2.16x.
每股经营现金流2025年1.30元；2024年1.17元；经营现金流与净利润之比2.16倍。 - 2025 gross margin 70.3%; net margin 6.9%; ROE 4.2%.
2025年毛利率70.3%；净利率6.9%；净资产收益率4.2%。 - At 30 Jun 2026: liabilities to assets 19.8%; current ratio 2.14; quick ratio 1.48; receivable days 58; inventory days 298.
截至2026年6月30日：资产负债率19.8%；流动比率2.14；速动比率1.48；应收账款周转天数58；存货周转天数298。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB1.76bn, change -22.3%; attributable net profit RMB152.8m, change -30.8%; operating cash flow per share RMB1.09.
截至2026年6月30日的报告期（六个月，不可与上述全年数据直接比较）：营业收入17.56亿元，同比-22.3%；归母净利润1.53亿元，同比-30.8%；每股经营现金流1.09元。 - Ownership: actual controller 赵燕; controlling shareholder 华熙昕宇投资有限公司; largest holder at 30 Jun 2026: 华熙昕宇投资有限公司, 58.79%.
股权：实际控制人：赵燕；控股股东：华熙昕宇投资有限公司；2026年6月30日第一大股东：华熙昕宇投资有限公司，持股58.79%。 - Latest distribution: ex-date 13 Jul 2026, cash RMB0.19 per share.
最近一次分配：除权除息日2026年7月13日，每股现金0.19元。 - Not held for this report: receivable ageing, litigation case amounts, the order book, the auditor's opinion and key audit matters, segment revenue.
本报告未掌握：应收账款账龄、诉讼案件金额、在手订单、审计意见及关键审计事项、分部收入。