Changzhou Qianhong Bio-pharma 千红制药
13 significant filings since 30 May 2026: 7 on share issue and 6 on equity incentive. The latest, on 8 Aug 2026: 千红制药：2025年员工持股计划（草案）（修订稿）.
自 30 May 2026 起有 13 份重大公告：share issue 7 份、equity incentive 6 份。最新一份（8 Aug 2026）：千红制药：2025年员工持股计划（草案）（修订稿）。
As of 25 Sep 2026 截至2026年9月25日
Changzhou Qianhong Bio-pharma is a chemical pharmaceuticals company listed on the Shenzhen Stock Exchange since 18 Feb 2011. The company reported revenue of RMB1.57bn in 2025, up 3.0% from RMB1.53bn in 2024, with attributable net profit rising 12.0% to RMB398.8m. Profit quality is stable, with operating cash flow at 0.97x net profit in 2025. Margins remain strong, with a gross margin of 58.4% and net margin of 23.8%. The balance sheet is healthy, with liabilities to assets at 12.8% as of 30 Jun 2026, a current ratio of 6.68 and a quick ratio of 5.32. However, the first half of 2026 showed a decline, with revenue down 12.0% and net profit down 40.8% year-on-year. The share price has fallen 30.0% over one year, from RMB9.09 to RMB6.36. Risk status is not shown.
千红制药是一家化学制药公司，于2011年2月18日在深圳证券交易所上市。公司2025年营业收入为15.71亿元，较2024年的15.26亿元同比增长3.0%；归母净利润为3.99亿元，同比增长12.0%。盈利质量稳定，2025年经营现金流与净利润之比为0.97倍。毛利率为58.4%，净利率为23.8%，盈利能力较强。截至2026年6月30日，资产负债率为12.8%，流动比率6.68，速动比率5.32，财务结构稳健。但2026年上半年出现下滑，营业收入同比下降12.0%，归母净利润同比下降40.8%。过去一年股价从9.09元降至6.36元，跌幅30.0%。风险状况未列示。
- Revenue in the full year 2026, to see if the decline in the first half reverses
2026全年营业收入，观察上半年下滑趋势是否逆转 - Attributable net profit in the full year 2026, to assess recovery from the -40.8% drop in the first half
2026全年归母净利润，评估能否从上半年-40.8%的下滑中恢复 - Operating cash flow to net profit ratio in 2026, to monitor profit quality
2026年经营现金流与净利润之比，持续关注盈利质量
- Company: Changzhou Qianhong Bio-pharma 千红制药, Shenzhen Stock Exchange 002550; industry Chemical Pharmaceuticals; listed 18 Feb 2011.
公司：千红制药，深圳证券交易所 002550；行业：化学制药；上市日期：2011年2月18日。 - Close on 24 Sep 2026 RMB6.36; close on 24 Sep 2025 RMB9.31, RMB9.09 in today's terms; one-year change, adjusted for distributions and share changes -30.0%.
2026年9月24日收盘价6.36元；2025年9月24日收盘价9.31元（前复权9.09元）；一年涨跌幅（复权）-30.0%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB5.78 to RMB9.51.
52周区间（前复权）5.78元至9.51元。 - In the last 12 months 2 trading days closed 9% or more above or below the day before (all days, not only this year). The 2 most recent of them: 24 Jun 2026 +10.0%; 1 Jul 2026 +9.7%. No two of the 2 fell on consecutive trading days.
近12个月共有2个交易日收盘涨跌幅达9%及以上（为全部交易日，不限于今年）。其中最近2个：2026年6月24日 +10.0%；2026年7月1日 +9.7%。其中任意两个交易日均不相邻。 - Market capitalisation RMB8.14bn; P/E TTM 27.7; price to book 2.97x.
总市值81.40亿元；市盈率（TTM）27.7；市净率2.97倍。 - Revenue 2025 RMB1.57bn; 2024 RMB1.53bn; change +3.0%.
营业收入2025年15.71亿元；2024年15.26亿元；同比+3.0%。 - Attributable net profit 2025 RMB398.8m; 2024 RMB356.0m; change +12.0%.
归属于母公司股东的净利润2025年3.99亿元；2024年3.56亿元；同比+12.0%。 - Net profit excluding non-recurring items, 2025 change +5.3%.
2025年扣除非经常性损益后的净利润同比+5.3%。 - Basic EPS 2025 RMB0.32; 2024 RMB0.28.
基本每股收益2025年0.32元；2024年0.28元。 - Operating cash flow per share 2025 RMB0.28; 2024 RMB0.40; operating cash flow to net profit 0.97x.
每股经营现金流2025年0.28元；2024年0.40元；经营现金流与净利润之比0.97倍。 - 2025 gross margin 58.4%; net margin 23.8%; ROE 15.2%.
2025年毛利率58.4%；净利率23.8%；净资产收益率15.2%。 - At 30 Jun 2026: liabilities to assets 12.8%; current ratio 6.68; quick ratio 5.32; receivable days 59; inventory days 197.
截至2026年6月30日：资产负债率12.8%；流动比率6.68；速动比率5.32；应收账款周转天数59；存货周转天数197。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB758.4m, change -12.0%; attributable net profit RMB152.8m, change -40.8%; operating cash flow per share RMB0.14.
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7.58亿元，同比-12.0%；归母净利润1.53亿元，同比-40.8%；每股经营现金流0.14元。 - Ownership: actual controller 王耀方; largest holder at 30 Jun 2026: 王耀方, 19.96%.
股权：实际控制人：王耀方；2026年6月30日第一大股东：王耀方，持股19.96%。 - Latest distribution: ex-date 29 May 2026, cash RMB0.15 per share.
最近一次分配：除权除息日2026年5月29日，每股现金0.15元。 - Aurelian Grade C, score 61.3 of 100, graded within a peer group of 158 companies in its industry; no rank among peers is given.
金源评级C，得分61.3（满分100），于行业同业158家中评定；未提供其在同业中的排名。 - 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。