GUANGZHOU BAIYUNSHAN PHARMACEUT

GUANGZHOU BAIYUNSHAN PHARMACEUT — Financial Statements

Annual Quarterly

5 10 All

Income Statement

Balance Sheet

Cash Flow

Line Item	FY 2025Dec 31, 2025	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023	FY 2022Dec 31, 2022	FY 2021Dec 31, 2021	FY 2020Dec 31, 2020	FY 2019Dec 31, 2019	FY 2018Dec 31, 2018	FY 2017Dec 31, 2017	FY 2016Dec 31, 2016	FY 2015Dec 31, 2015	FY 2014Dec 31, 2014	FY 2013Dec 31, 2013	FY 2012Dec 31, 2012	FY 2011Dec 31, 2011	FY 2010Dec 31, 2010	FY 2009Dec 31, 2009	FY 2008Dec 31, 2008	FY 2007Dec 31, 2007	FY 2006Dec 31, 2006
+Revenue	77.7B	75.0B	75.5B	70.8B	69.0B	61.7B	65.0B	42.2B	21.0B	20.0B	19.1B	18.8B	17.6B	12.1B	5.4B	4.5B	3.9B	3.5B	11.9B	10.3B
Revenue Growth %	3.6%	-0.7%	6.7%	2.6%	11.9%	-5.0%	53.8%	101.6%	4.6%	4.8%	1.6%	6.9%	46.0%	121.7%	21.3%	15.6%	10.1%	-70.5%	15.9%	--
Total Revenue	77.7B	75.0B	75.5B	70.8B	69.0B	61.7B	65.0B	42.2B	21.0B	20.0B	19.1B	18.8B	17.6B	12.1B	5.4B	4.5B	3.9B	3.5B	11.9B	10.3B
Cost Of Revenue	65.0B	62.5B	61.3B	57.5B	55.8B	51.2B	52.7B	32.2B	13.1B	13.4B	12.2B	12.2B	11.8B	8.2B	4.0B	3.2B	2.8B	2.5B	10.1B	8.5B
+Gross Profit	12.6B	12.5B	14.2B	13.3B	13.2B	10.4B	12.2B	10.1B	7.9B	6.6B	6.9B	6.6B	5.8B	3.8B	1.4B	1.3B	1.1B	1.1B	1.8B	1.8B
Gross Margin %	16.2%	16.7%	18.8%	18.8%	19.2%	16.9%	18.8%	23.8%	37.7%	33.1%	36.2%	35.2%	33.0%	31.8%	25.7%	28.5%	27.7%	30.3%	15.5%	17.4%
Total Operating Cost	74.8B	72.1B	71.0B	66.6B	64.9B	58.7B	61.6B	40.0B	18.9B	18.8B	17.9B	17.6B	16.7B	11.5B	5.3B	4.3B	3.8B	3.5B	11.6B	9.9B
Selling Expenses	5.8B	5.6B	6.1B	5.9B	6.0B	4.6B	5.7B	5.1B	4.3B	3.8B	4.2B	3.9B	3.5B	2.0B	711.0M	617.0M	556.0M	601.0M	883.0M	790.0M
Admin Expenses	2.5B	2.4B	2.4B	2.2B	2.0B	1.8B	2.0B	1.7B	1.2B	1.4B	1.4B	1.3B	1.2B	1.1B	481.0M	457.0M	436.0M	399.0M	473.0M	534.0M
Rd Expenses	662.0M	764.0M	782.0M	819.0M	875.0M	612.0M	577.0M	585.0M	373.0M	--	--	--	--	--	--	--	--	--	--	--
Finance Expenses	281.0M	38.2M	-19.6M	-162.0M	-133.0M	5.2M	117.0M	-6.7M	-211.0M	-96.5M	-21.9M	1.4M	28.3M	49.5M	1.9M	-2.2M	6.1M	15.5M	61.8M	45.4M
+Operating Income	3.6B	3.6B	5.1B	5.1B	4.8B	3.7B	4.1B	3.8B	2.5B	1.5B	1.4B	1.3B	1.1B	855.0M	309.0M	298.0M	207.0M	176.0M	454.0M	385.0M
Operating Margin %	4.7%	4.8%	6.8%	7.2%	6.9%	6.0%	6.2%	9.1%	11.7%	7.3%	7.4%	7.1%	6.4%	7.1%	5.7%	6.6%	5.3%	5.0%	3.8%	3.7%
Non Operating Income	92.7M	40.3M	29.3M	18.1M	45.3M	158.0M	109.0M	198.0M	76.5M	555.0M	331.0M	204.0M	126.0M	45.8M	33.4M	38.6M	30.7M	31.3M	17.5M	6.4M
Non Operating Expenses	31.6M	29.1M	39.7M	49.3M	108.0M	91.0M	35.7M	14.8M	44.5M	76.4M	113.0M	78.3M	16.7M	20.1M	7.3M	15.3M	6.4M	5.2M	6.8M	9.8M
Investment Income	469.0M	294.0M	265.0M	421.0M	194.0M	344.0M	198.0M	1.3B	338.0M	206.0M	211.0M	161.0M	220.0M	250.0M	154.0M	115.0M	139.0M	187.0M	86.3M	7.8M
Fair Value Change Income	-18.7M	24.7M	38.6M	-3.6M	197.0M	-8.5M	31.6M	116.0M	-1.2M	-473,700	1.8M	1.3M	486,700	-251,800	-3.5M	1.3M	2.3M	-2.5M	--	--
Asset Disposal Income	108.0M	11.1M	12.0M	689,800	694,500	3.0M	1.3M	707,300	--	--	--	--	--	--	--	--	--	--	--	--
Asset Impairment Loss	68.0M	407.0M	3.5M	8.0M	11.9M	23.9M	11.5M	180.0M	20.0M	6.7M	36.3M	61.2M	12.9M	8.2M	916,900	-3.8M	-16.8M	36.8M	22.1M	11.2M
Other Income	258.0M	343.0M	338.0M	480.0M	310.0M	328.0M	430.0M	196.0M	112.0M	--	--	--	--	--	--	--	--	--	--	--
Income Before Tax	3.7B	3.6B	5.1B	5.0B	4.7B	3.7B	4.1B	4.0B	2.5B	1.9B	1.6B	1.5B	1.2B	881.0M	335.0M	321.0M	231.0M	202.0M	465.0M	381.0M
Income Tax	629.0M	607.0M	851.0M	790.0M	754.0M	647.0M	687.0M	485.0M	374.0M	386.0M	283.0M	257.0M	222.0M	114.0M	35.0M	47.3M	22.6M	30.2M	121.0M	132.0M
+Net Income	3.1B	3.0B	4.3B	4.3B	4.0B	3.1B	3.4B	3.5B	2.1B	1.6B	1.3B	1.2B	1.0B	767.0M	300.0M	274.0M	209.0M	172.0M	345.0M	249.0M
Net Margin %	3.9%	4.0%	5.6%	6.0%	5.8%	5.0%	5.3%	8.4%	10.1%	7.8%	7.0%	6.4%	5.7%	6.4%	5.5%	6.1%	5.4%	4.9%	2.9%	2.4%
Net Income Attributable	3.0B	2.8B	4.1B	4.0B	3.7B	2.9B	3.2B	3.4B	2.1B	1.5B	1.3B	1.2B	980.0M	729.0M	288.0M	267.0M	211.0M	182.0M	335.0M	238.0M
Minority Interest	77.6M	165.0M	204.0M	287.0M	249.0M	176.0M	252.0M	92.7M	57.1M	50.6M	44.9M	17.4M	26.9M	37.7M	12.5M	6.9M	-2.2M	-10.5M	9.5M	11.7M
Eps Basic	1.84	7.99	2.50	2.44	2.29	1.79	1.96	2.12	1.27	1.08	1.01	0.93	0.77	0.58	0.36	0.33	0.26	0.23	0.41	0.29
Eps Diluted	--	--	2.50	2.44	2.29	1.79	1.96	2.12	1.27	1.08	1.01	0.93	0.77	0.58	0.36	0.33	0.26	0.23	0.41	0.29

Line Item	FY 2025Dec 31, 2025	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023	FY 2022Dec 31, 2022	FY 2021Dec 31, 2021	FY 2020Dec 31, 2020	FY 2019Dec 31, 2019	FY 2018Dec 31, 2018	FY 2017Dec 31, 2017	FY 2016Dec 31, 2016	FY 2015Dec 31, 2015	FY 2014Dec 31, 2014	FY 2013Dec 31, 2013	FY 2012Dec 31, 2012	FY 2011Dec 31, 2011	FY 2010Dec 31, 2010	FY 2009Dec 31, 2009	FY 2008Dec 31, 2008	FY 2007Dec 31, 2007	FY 2006Dec 31, 2006
Cash And Equivalents	14.9B	18.3B	21.3B	22.5B	22.4B	19.5B	18.5B	16.1B	11.7B	12.8B	4.1B	3.2B	1.9B	1.1B	384.0M	707.0M	697.0M	381.0M	753.0M	490.0M
Trading Financial Assets	4.0M	--	4.0M	56.9M	--	4.0M	--	--	4.9M	6.0M	6.5M	4.7M	3.4M	2.9M	3.1M	11.7M	31.3M	3.0M	5.5M	--
Accounts Receivable	16.8B	15.7B	15.1B	14.9B	12.8B	12.4B	12.6B	10.9B	1.1B	1.1B	1.1B	1.0B	973.0M	734.0M	447.0M	331.0M	353.0M	455.0M	1.6B	1.4B
Notes Receivable	491.0M	554.0M	871.0M	1.1B	1.2B	1.1B	1.5B	2.8B	1.7B	1.6B	1.4B	1.5B	1.3B	844.0M	430.0M	200.0M	160.0M	157.0M	542.0M	380.0M
Notes And Accounts Receivable	17.3B	16.3B	16.0B	16.0B	14.0B	13.5B	14.1B	13.7B	2.8B	2.7B	2.5B	2.5B	2.3B	1.6B	877.0M	532.0M	513.0M	612.0M	2.2B	1.7B
Prepayments	970.0M	578.0M	818.0M	836.0M	779.0M	1.0B	673.0M	838.0M	257.0M	414.0M	317.0M	327.0M	614.0M	447.0M	133.0M	127.0M	96.8M	56.5M	166.0M	180.0M
Inventory	13.1B	12.8B	11.5B	10.7B	10.4B	9.8B	9.5B	9.2B	3.7B	2.8B	2.5B	2.6B	2.2B	2.1B	859.0M	755.0M	561.0M	633.0M	1.4B	1.3B
Total Current Assets	61.5B	57.8B	56.0B	57.1B	52.8B	47.4B	46.0B	43.0B	21.5B	19.5B	9.8B	8.9B	7.3B	5.4B	2.3B	2.2B	1.9B	1.9B	4.6B	3.8B
Long Term Equity Investment	1.6B	1.5B	1.8B	1.6B	1.6B	1.9B	1.6B	1.8B	2.0B	2.3B	2.1B	2.0B	1.9B	1.7B	1.3B	952.0M	905.0M	817.0M	39.5M	72.4M
Fixed Assets	6.8B	5.6B	4.4B	3.7B	3.3B	2.9B	2.9B	3.2B	2.1B	2.1B	1.9B	1.8B	1.7B	1.6B	1.0B	1.0B	1.1B	1.1B	1.2B	1.2B
Fixed Assets Total	6.7B	5.5B	4.4B	3.7B	3.3B	2.9B	2.9B	3.2B	2.1B	2.1B	1.9B	1.8B	1.7B	1.6B	1.0B	1.0B	1.1B	1.1B	1.2B	1.2B
Construction In Progress	--	--	2.4B	2.1B	1.6B	1.3B	667.0M	480.0M	285.0M	255.0M	556.0M	442.0M	335.0M	140.0M	20.4M	27.5M	26.8M	58.6M	102.0M	123.0M
Construction In Progress Total	1.1B	1.8B	2.4B	2.1B	1.6B	1.3B	667.0M	480.0M	285.0M	255.0M	556.0M	442.0M	335.0M	140.0M	20.4M	27.5M	26.8M	58.6M	102.0M	123.0M
Intangible Assets	3.2B	2.8B	2.9B	2.6B	2.6B	2.4B	2.5B	1.0B	728.0M	668.0M	540.0M	395.0M	369.0M	306.0M	95.1M	97.0M	99.7M	104.0M	136.0M	134.0M
Long Term Deferred Expenses	156.0M	189.0M	190.0M	167.0M	132.0M	111.0M	116.0M	94.3M	49.1M	37.9M	24.1M	10.3M	7.1M	7.9M	7.9M	7.0M	5.9M	6.7M	6.7M	9.4M
Total Non Current Assets	23.0B	23.9B	22.6B	17.6B	13.3B	12.4B	10.9B	8.5B	6.8B	6.4B	6.1B	5.3B	5.0B	4.0B	2.5B	2.3B	2.3B	2.2B	1.6B	1.7B
Total Assets	84.5B	81.7B	78.6B	74.7B	66.1B	59.8B	56.9B	51.5B	28.3B	25.9B	15.9B	14.3B	12.2B	9.4B	4.9B	4.5B	4.2B	4.1B	6.2B	5.5B
Short Term Borrowings	9.6B	9.1B	7.8B	8.5B	8.4B	8.3B	5.9B	5.9B	11.5M	25.2M	630.0M	561.0M	510.0M	681.0M	145.0M	38.9M	63.4M	243.0M	956.0M	888.0M
Accounts Payable	12.5B	11.7B	11.8B	11.2B	11.3B	10.9B	9.7B	9.3B	2.8B	2.3B	2.6B	2.1B	1.5B	1.1B	350.0M	264.0M	303.0M	267.0M	1.3B	862.0M
Advance Receipts	1.5M	4.5M	--	--	--	--	--	--	1.9B	1.6B	975.0M	892.0M	876.0M	609.0M	147.0M	99.0M	121.0M	18.0M	47.0M	48.0M
Contract Liabilities	2.8B	5.1B	5.4B	5.6B	2.7B	1.2B	4.7B	3.7B	--	--	--	--	--	--	--	--	--	--	--	--
Total Current Liabilities	39.1B	38.9B	36.2B	37.4B	32.3B	29.2B	29.4B	26.9B	8.3B	7.4B	6.8B	6.1B	5.0B	3.5B	871.0M	715.0M	712.0M	751.0M	2.8B	2.4B
Long Term Borrowings	2.6B	2.8B	3.3B	1.6B	753.0M	498.0M	4.5M	414.0M	--	33.5M	39.8M	--	8.6M	--	--	--	--	30.0M	--	--
Total Non Current Liabilities	5.3B	5.0B	5.7B	3.6B	2.5B	2.3B	1.5B	1.4B	783.0M	821.0M	358.0M	266.0M	177.0M	164.0M	84.8M	121.0M	109.0M	155.0M	125.0M	121.0M
Total Liabilities	44.4B	43.9B	41.9B	41.0B	34.8B	31.6B	30.9B	28.3B	9.1B	8.2B	7.2B	6.3B	5.2B	3.6B	956.0M	836.0M	821.0M	906.0M	2.9B	2.5B
Paid In Capital	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.3B	1.3B	1.3B	811.0M	811.0M	811.0M	811.0M	811.0M	811.0M	811.0M
Capital Reserve	10.3B	10.1B	10.1B	10.1B	10.0B	9.9B	9.9B	9.9B	9.9B	9.9B	2.3B	2.5B	2.5B	1.7B	1.1B	1.2B	1.1B	1.1B	1.2B	1.2B
Surplus Reserve	2.5B	2.4B	2.3B	2.1B	1.9B	1.7B	1.5B	1.4B	1.2B	1.1B	931.0M	815.0M	724.0M	788.0M	603.0M	578.0M	557.0M	538.0M	608.0M	549.0M
Retained Earnings	23.4B	21.8B	21.0B	18.3B	15.6B	12.9B	11.2B	8.8B	6.3B	4.8B	3.9B	3.1B	2.3B	2.3B	1.2B	998.0M	793.0M	632.0M	481.0M	277.0M
Minority Equity	2.3B	1.9B	1.8B	1.6B	2.3B	2.1B	1.8B	1.5B	392.0M	309.0M	233.0M	217.0M	190.0M	190.0M	114.0M	102.0M	97.4M	100.0M	234.0M	166.0M
Equity Attributable	37.8B	35.9B	34.9B	32.1B	29.1B	26.1B	24.2B	21.7B	18.9B	17.3B	8.5B	7.7B	6.8B	5.6B	3.8B	3.5B	3.3B	3.1B	3.1B	2.8B
Total Equity	40.1B	37.8B	36.7B	33.6B	31.3B	28.2B	26.0B	23.1B	19.3B	17.7B	8.7B	7.9B	7.0B	5.8B	3.9B	3.6B	3.4B	3.2B	3.3B	3.0B

Line Item	FY 2025Dec 31, 2025	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023	FY 2022Dec 31, 2022	FY 2021Dec 31, 2021	FY 2020Dec 31, 2020	FY 2019Dec 31, 2019	FY 2018Dec 31, 2018	FY 2017Dec 31, 2017	FY 2016Dec 31, 2016	FY 2015Dec 31, 2015	FY 2014Dec 31, 2014	FY 2013Dec 31, 2013	FY 2012Dec 31, 2012	FY 2011Dec 31, 2011	FY 2010Dec 31, 2010	FY 2009Dec 31, 2009	FY 2008Dec 31, 2008	FY 2007Dec 31, 2007	FY 2006Dec 31, 2006
Cash From Sales	75.0B	75.8B	75.3B	72.0B	67.9B	56.9B	63.3B	39.4B	16.3B	17.3B	17.9B	18.4B	16.3B	10.1B	4.6B	5.1B	4.6B	4.0B	13.3B	11.5B
Tax Refunds Received	16.3M	4.0M	23.5M	61.7M	22.8M	10.1M	33.6M	7.9M	7.9M	8.5M	45.7M	88.7M	52.8M	31.3M	31.8M	25.9M	17.0M	10.2M	14.0M	12.2M
Total Operating Cash Inflow	76.1B	76.8B	76.6B	73.6B	69.8B	59.0B	64.6B	40.3B	16.9B	18.5B	18.5B	19.0B	16.6B	10.4B	4.7B	5.2B	4.7B	4.1B	13.4B	11.6B
Cash Paid For Goods	64.0B	61.8B	59.9B	55.1B	52.0B	46.8B	46.8B	26.4B	7.0B	8.7B	8.9B	10.0B	9.4B	5.4B	3.2B	3.7B	3.0B	2.6B	11.1B	9.6B
Cash Paid To Employees	5.9B	5.9B	5.9B	5.6B	5.3B	4.7B	4.8B	4.0B	3.2B	3.0B	3.1B	2.9B	2.4B	1.8B	820.0M	718.0M	639.0M	616.0M	817.0M	735.0M
Taxes Paid	2.8B	2.7B	3.2B	2.8B	2.9B	2.6B	3.0B	2.2B	2.0B	1.7B	1.9B	1.8B	1.4B	1.0B	415.0M	337.0M	291.0M	340.0M	564.0M	529.0M
Total Operating Cash Outflow	76.3B	73.4B	72.5B	66.6B	64.1B	58.4B	59.6B	35.1B	15.1B	16.0B	16.6B	17.2B	15.3B	9.4B	4.9B	5.2B	4.3B	4.1B	13.2B	11.6B
Operating Cash Flow	-232.0M	3.4B	4.1B	7.0B	5.7B	585.0M	5.0B	5.2B	1.8B	2.5B	1.9B	1.8B	1.3B	999.0M	-185.0M	73.2M	439.0M	6.1M	269.0M	38.0M
Total Investing Cash Inflow	12.0B	1.7B	2.8B	1.1B	727.0M	434.0M	1.7B	4.8B	2.6B	447.0M	83.3M	73.4M	33.6M	112.0M	49.4M	127.0M	670.0M	645.0M	63.2M	79.3M
Total Investing Cash Outflow	16.0B	7.7B	5.9B	8.3B	1.7B	1.5B	2.8B	3.7B	5.0B	936.0M	889.0M	364.0M	357.0M	178.0M	265.0M	102.0M	569.0M	870.0M	118.0M	135.0M
Investing Cash Flow	-4.0B	-6.0B	-3.1B	-7.3B	-932.0M	-1.1B	-1.0B	1.1B	-2.4B	-489.0M	-806.0M	-290.0M	-324.0M	-66.1M	-216.0M	24.1M	101.0M	-225.0M	-55.2M	-56.0M
Cash From Borrowings	12.1B	10.0B	9.6B	9.7B	8.8B	8.9B	7.1B	2.1B	18.2M	288.0M	718.0M	753.0M	587.0M	959.0M	178.0M	38.9M	145.0M	368.0M	1.1B	782.0M
Dividends And Interest Paid	1.7B	2.3B	1.6B	1.5B	1.3B	1.4B	1.1B	1.4B	485.0M	523.0M	411.0M	421.0M	55.9M	186.0M	46.7M	43.9M	40.0M	125.0M	151.0M	123.0M
Debt Repayments	11.1B	8.4B	9.4B	8.2B	8.7B	6.2B	7.7B	3.6B	32.0M	909.0M	657.0M	711.0M	750.0M	1.2B	71.7M	63.4M	355.0M	266.0M	995.0M	811.0M
Total Financing Cash Inflow	13.6B	10.0B	13.6B	13.5B	11.9B	12.1B	9.6B	3.3B	32.5M	8.2B	730.0M	768.0M	594.0M	968.0M	179.0M	38.9M	157.0M	391.0M	1.4B	1.1B
Total Financing Cash Outflow	13.1B	11.0B	15.6B	13.4B	13.4B	10.6B	11.8B	6.1B	517.0M	1.4B	1.1B	1.1B	806.0M	1.4B	118.0M	107.0M	396.0M	391.0M	1.4B	1.2B
Financing Cash Flow	489.0M	-1.0B	-2.0B	45.9M	-1.5B	1.4B	-2.2B	-2.8B	-484.0M	6.7B	-347.0M	-364.0M	-212.0M	-446.0M	60.3M	-68.4M	-239.0M	-248,800	-35.8M	-110.0M
Net Change In Cash	-3.7B	-3.5B	-981.0M	-209.0M	3.2B	932.0M	1.8B	3.6B	-1.1B	8.8B	788.0M	1.1B	805.0M	488.0M	-341.0M	29.0M	302.0M	-219.0M	176.0M	-128.0M
Ending Cash Balance	12.6B	16.3B	19.8B	20.8B	21.0B	17.8B	16.8B	15.1B	11.5B	12.6B	3.8B	3.0B	1.9B	1.1B	356.0M	696.0M	667.0M	366.0M	585.0M	490.0M
Capex	1.2B	1.1B	1.6B	1.4B	1.3B	877.0M	2.4B	479.0M	197.0M	228.0M	515.0M	357.0M	350.0M	170.0M	53.9M	83.2M	87.6M	127.0M	117.0M	90.5M