Pharmaceutical Firms Show Sharp Divergence in First Three Quarters of 2025: Some Report Soaring Profits, Others Continue to Post Losses

　　【Pharmaceutical Network Industry DynamicsOn the evening of October 10, C.Q. Pharmaceutical Holding Co., Ltd. released its earnings forecast for the first three quarters of 2025, expecting to achieve a net profit attributable to shareholders of RMB 358 million to RMB 400 million, representing a year-on-year increase of 22.51% to 36.88%; the estimated net profit after deducting non-recurring items is RMB 348 million to RMB 390 million, representing a year-on-year increase of 25.48% to 40.62%; earnings per share are RMB 0.20 to RMB 0.23.
 

Regarding the change in performance, it is mainly due to the continuous development of the company's pharmaceuticals, medical devices, traditional Chinese medicine, specialty pharmacies, and emerging businesses. The company has been constantly improving its network layout, achieving steady growth in revenue. Through meticulous management, the company has improved operational efficiency and achieved cost reduction and efficiency enhancement.
 

Public information shows that C.Q. Pharmaceutical Holding has deeply cultivated the entire pharmaceutical industry chain and gradually developed into a comprehensive pharmaceutical service industry group integrating pharmaceutical R&D, production, sales, logistics distribution, and medical services.
 

As of the closing on October 10, C.Q. Pharmaceutical Holding Co., Ltd. closed at 5.17 yuan, up 0.19%, with a turnover rate of 0.89%, a trading volume of 153,600 shares, and a turnover of 79.369 million yuan.
 

As of October 11, in addition to C.Q. Pharmaceutical Holding, other pharmaceutical companies such as Northland, Jinghao, Inner Mongolia Grand Pharmaceutical, and Health Guard have disclosed their earnings forecasts for the first three quarters of 2025.
 

Among them, Northland expects that the net profit attributable to shareholders of the listed company for the first three quarters of 2025 will continue to incur losses. The main reasons for the change in performance are: during the reporting period, the company's main R&D products are still in the drug development stage (currently, the application for marketing authorization of the domestically produced drug NL003 under research by the company has been accepted by the National Medical Products Administration). The company’s revenue mainly comes from the sales revenue of eye drops and CMO and CDMO income, but the parent company is still in the new drug R&D stage. Therefore, the overall net profit of the company remains in deficit, and it is expected that the company will continue to incur losses from January to September 2025. It is reported that the company specializes in the research, production, and sales of gene therapy drugs, recombinant protein drugs, and ophthalmic drugs.
 

Jinghao Medical expects net profit for the first three quarters of 2025 to turn from loss to profit year-on-year. The reasons for the change in performance are: the company's semi-annual net profit was 7.2635 million yuan, a year-on-year increase of 13.4797 million yuan, and it is expected that the net profit for the first three quarters will turn from loss to profit compared with the same period last year. As a provider of smart medical devices, Jinghao Medical mainly offers healthcare products such as hearing aids, blood pressure monitors, pulse oximeters, nebulizers, and air mattresses.
 

Inner Mongolia Grand Pharmaceutical Co., Ltd. announced on August 27 that due to the continued presence of factors affecting the decline in profits, it is expected that the net profit attributable to shareholders of the listed company for the first three quarters of 2025 will continue to be in loss. The company is a comprehensive pharmaceutical enterprise integrating the development of Mongolian medicine resources, research and development, production, and sales of specialty drugs and health products.
 

Health Guard also predicted that the company's attributable net profit for the first three quarters of 2025 would continue to incur losses. According to the announcement, by the end of this reporting period, all of the company’s vaccine products are still in the research and development stage, with no vaccine products launched in the market yet. The company’s main business revenue comes from the sale of testing reagents for scientific research, which has not been sufficient to cover the company’s R&D and daily operational needs, resulting in the company not being profitable and having accumulated uncompensated losses. The commercialization of the company’s ongoing projects will take time, and it is expected that the company will continue to incur losses from January to September 2025. Public information shows that Health Guard is a company mainly engaged in the research, development, and industrialization of structure-based recombinant protein vaccines.
 

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The disclosed earnings forecasts show that pharmaceutical companies exhibited significant divergence in the first three quarters of 2025. C.Q. Pharmaceutical Holding achieved high net profit growth due to its full industry chain layout and meticulous management, while Jinghao successfully turned losses into profits. Meanwhile, companies like Northland and Health Guard, which focus on research and development, continued to incur losses as their products have not yet been commercialized, reflecting the balancing act between industry innovation investment and short-term profitability.
 

Disclaimer: Under no circumstances shall the information or opinions expressed in this article constitute investment advice to any person.