华润医药披露子公司华润医药商业2026年上半年未经审计财务报表

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited
take no responsibility for the contents of this announcement, make no representation as to
its accuracy or completeness and expressly disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 3320)

ANNOUNCEMENT
UNAUDITED FINANCIAL RESULTS OF
CR PHARMACEUTICAL COMMERCIAL
FOR THE SIX MONTHS ENDED 30 JUNE 2026
IN RELATION TO ISSUANCE OF MEDIUM TERM NOTES
AND CORPORATE BONDS
IN THE PRC
Reference is made to: (i) the announcement dated 1 December 2025 in relation to, among
others, the proposed issuance of medium term notes in the PRC by China Resources
Pharmaceutical Commercial Group Company Limited (華潤醫藥商業集團有限公司)
(“CR Pharmaceutical Commercial”), a non-wholly-owned subsidiary of the Company; (ii)
the announcement dated 15 December 2025 in relation to, among others, the completion of
the issuance of the first tranche of medium term notes for the year of 2025 in the PRC by
CR Pharmaceutical Commercial; (iii) the announcement dated 27 March 2026 in relation to,
among others, the completion of the issuance of the first tranche of corporate bonds in 2026
in the PRC by CR Pharmaceutical Commercial; (iv) the announcement dated 28 April 2026 in
relation to, among others, the completion of the issuance of the second tranche of corporate
bonds in 2026 in the PRC by CR Pharmaceutical Commercial; and (v) the announcement
dated 26 June 2026 in relation to, among others, the completion of the issuance of the third
tranche of corporate bonds in 2026 in the PRC by CR Pharmaceutical Commercial (the
“Announcements”). Capitalised terms used herein shall have the same meanings as those
defined in the Announcements unless stated otherwise herein.
In accordance with the relevant rules and regulations in the PRC and in connection with
its issuance of medium term notes and corporate bonds in the PRC, CR Pharmaceutical
Commercial has published its unaudited financial statements for the six months ended 30 June
2026 on the websites of China Money and Shanghai Clearing House in connection with the
medium term notes, and on the websites of the Shanghai Stock Exchange and the Shenzhen
Stock Exchange in connection with the corporate bonds.

–1–

The unaudited financial statements of CR Pharmaceutical Commercial for the six months
ended 30 June 2026 (the “Unaudited Financial Statements of CR Pharmaceutical
Commercial”) are enclosed to this announcement for the Company’s shareholders’
information only. The Unaudited Financial Statements of CR Pharmaceutical Commercial
were prepared in Chinese and have been translated for publication in English and Chinese.
In the event of any inconsistency between the two versions, the Chinese version shall prevail.
In addition, the Unaudited Financial Statements of CR Pharmaceutical Commercial have been
prepared in accordance with the PRC Generally Accepted Accounting Principles, have not
been reviewed or audited by the Company’s auditors, and may require adjustments during the
course of auditing. Such financial information is limited to CR Pharmaceutical Commercial
only and does not represent or provide a complete view of the operational or financial status
of the Group.
Shareholders and potential investors should exercise caution when dealing in securities
of the Company and should not rely solely on such information.
By order of the Board
China Resources Pharmaceutical Group Limited
Mr. Bai Xiaosong
Chairman
PRC, 31 August 2026
As at the date of this announcement, the Board comprises Mr. Bai Xiaosong as chairman and
executive Director, Mr. Cheng Jie and Mr. Liu Changan as executive Directors, Mdm. Guo
Wei, Mr. Sun Yongqiang, Mr. Wang Yuhang, Mdm. Zhang Jing and Mdm. Jiao Ruifang as
non-executive Directors and Mdm. Chiu Mun Wai, Mr. Fu Tingmei, Mr. Zhang Kejian and
Mr. Shi Luwen as independent non-executive Directors.

–2–

CHINA RESOURCES PHARMACEUTICAL COMMERCIAL GROUP
COMPANY LIMITED
CONSOLIDATED BALANCE SHEET
JUNE 2026
Unit: RMB
Item

30 June 2026

31 December 2025

Item

Current assets:

30 June 2026

31 December 2025

Short-term borrowings

39,772,803,913.63

33,455,137,520.39

Current liabilities:

Monetary fund

10,566,408,988.70

10,257,067,215.35

Notes receivable

238,340,569.98

241,598,060.17

Notes payable

18,725,456,190.62

20,489,498,505.52

Accounts receivable

87,987,960,862.41

81,953,462,510.56

Accounts payable

43,346,728,897.50

39,973,927,485.76

Financing receivables

10,792,352,103.53

9,314,180,265.98

Contract liabilities

1,656,152,452.15

1,567,788,033.34

Prepayment

3,363,496,949.93

3,550,359,009.85

Staff remuneration payable

971,115,808.07

1,095,089,453.36

Other receivables

6,662,109,837.76

5,660,783,137.51

Taxation payable

638,462,708.30

706,961,740.62

Inventory

35,447,979,499.71

33,397,894,883.62

Other payables

8,040,776,333.05

7,558,385,842.13

21,154,593.05

36,368,075.40

Non-current liabilities due within
one year

6,640,446,210.76

5,347,902,389.66

144,549,191.57

116,541,074.19

119,936,491,705.65

110,311,232,044.97

Long-term borrowings

3,243,722,165.89

6,235,411,075.59

Bonds payable

11,998,746,933.94

7,996,868,303.42

Long-term payables

168,438,874.67

163,142,206.67

Contract assets
Non-current assets due within one
year
Other current assets
Total current assets

Other current liabilities
–

–

1,479,815,587.54

1,555,535,755.91

156,559,618,992.61

145,967,248,914.35

690,553,825.79

804,033,995.94

2,066,000.00

2,066,000.00

2,055,834,163.11

1,981,171,228.00

97,454,392.46

99,246,587.13

Long-term employee remuneration
payable

122,451,799.33

120,549,334.37

19,403,704.03

20,920,263.10

–

–

Non-current assets:
Long-term receivables
Other equity instruments investments
Long-term equity investments

Non-current liabilities:

Investment properties
Other non-current financial assets

Total current liabilities

23,960,022.62

23,960,022.62

Deferred revenue

Fixed assets

3,578,163,416.61

3,737,047,170.91

Estimated liabilities

Right-of-use assets

733,100,485.68

807,820,687.26

Deferred income tax liabilities

223,440,355.92

247,739,539.83

Construction in progress

239,037,346.79

96,931,766.61

Lease liabilities

516,585,073.12

508,652,160.77

Intangible assets

1,864,442,547.87

1,934,472,919.85

Total non-current liabilities

16,292,788,906.90

15,293,282,883.75

Goodwill

9,732,712,191.40

9,732,712,191.40

Total liabilities

136,229,280,612.55

125,604,514,928.72

108,749,631.76

133,660,255.99

Owners’ equity (or shareholders’
equity):

1,002,359,402.28

863,531,449.51

Paid-in capital (equity)

19,646,531,357.61

19,646,531,357.61

60,123,788.92

59,096,473.50

Other equity instruments

6,000,000,000.00

6,000,000,000.00

20,188,557,215.29

20,275,750,748.72

Capital surplus

2,386,026,866.53

2,366,137,504.91

Other comprehensive income

(33,998,547.63)

(33,858,479.73)

Surplus reserves

1,284,626,198.44

1,284,626,198.44

Special reserves

188,214.12

188,214.12

Undistributed profits

5,535,956,633.78

5,692,606,987.57

Total equity attributable to owners
of the parent company

34,819,330,722.85

34,956,231,782.92

Minority interests

5,699,564,872.50

5,682,252,951.43

40,518,895,595.35

40,638,484,734.35

176,748,176,207.90

166,242,999,663.07

Long-term deferred expenses
Deferred income tax assets
Other non-current assets
Total non-current assets

Total owners’ equity
Total assets

176,748,176,207.90

166,242,999,663.07 Total liabilities and owners’ equity

–3–

CHINA RESOURCES PHARMACEUTICAL COMMERCIAL GROUP
COMPANY LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
JANUARY TO JUNE 2026
Unit: RMB
Item
Operating revenue
Less: Operating costs
    Tax and surcharge
   Selling expenses
   Management expenses
    Research and development expenses
   Finance costs
   Including: Interest expenses
        Interest income
Add:Other revenue
   Gain from investment
    Including: Gains from investment in associates and
         joint ventures
   Gains from changes in fair values
   Impairment losses of assets
   Loss on credit impairment
   Gains from disposal of assets
Operating profits
Add: Non-operating income
Less: Non-operating expenses
Total profits
Less: Income tax expenses
Net profits
Including: Net profits of the absorbed party before business
     combination under common control
      Net profits attributable to the owners
      of the parent company
      *Gains and losses of minority interests
Other comprehensive income, net of tax
Total comprehensive income

–4–

January–June 2026 January–June 2025
111,562,037,153.78
108,451,915,412.51
104,522,952,747.32
101,485,589,123.97
234,516,783.78
231,458,363.94
2,781,217,241.36
2,603,963,271.90
1,175,085,278.37
1,238,189,526.47
14,439,245.41
23,914,294.54
694,452,097.98
749,630,665.70
674,341,753.41
754,659,134.93
18,107,555.72
44,229,230.02
27,421,832.74
20,822,627.08
(40,783,433.68)
(21,296,215.25)
54,669,632.52
–
(3,617,382.43)
(507,745,895.09)
1,467,878.89
1,616,116,759.99
15,019,465.10
16,736,457.18
1,614,399,767.91
451,020,677.18
1,163,379,090.73

69,069,537.24
(840,290.71)
5,253,859.06
(551,054,228.91)
5,614,354.83
1,577,670,272.09
13,279,577.55
14,173,802.72
1,576,776,046.92
450,075,989.07
1,126,700,057.85

–

–

929,773,368.67
233,605,722.05
(140,067.90)
1,163,239,022.83

898,760,628.36
227,939,429.49
144,014.73
1,126,844,072.58

CHINA RESOURCES PHARMACEUTICAL COMMERCIAL GROUP
COMPANY LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
JANUARY TO JUNE 2026
Unit: RMB
Item
I. Cash flows from operating activities:
Cash received from the sales of goods and the rendering of
services
Refund of taxes and levies
Cash received relating to other operating activities
Sub-total of cash inflows from operating activities
Cash paid for goods purchased and services received
Cash paid to and for employees
Payments of all types of taxes
Cash payments relating to other operating activities
Sub-total of cash outflows from operating activities
Net cash flow from operating activities
II. Cash Flow From Investing Activities:
Cash received from investment recovery
Cash received from returns on investments
Net cash received from disposals of fixed assets, intangible
assets and other long-term assets
Net cash received from disposals of subsidiaries and other
operating units
Cash received relating to other investing activities
Sub-total of cash inflows from investing activities
Cash paid to acquire fixed assets, intangible assets and other
long-term assets
Cash paid for investments
Net cash paid for acquisition of subsidiaries and other
operational units
Cash payments relating to other investing activities
Sub-total of cash outflows from investing activities
Net cash flow from investing activities

–5–

January–June 2026

January–June 2025

113,010,781,457.58
328,435.61
6,535,186,982.45
119,546,296,875.64
109,454,148,503.47
2,579,129,608.43
2,062,383,618.46
7,552,440,926.45
121,648,102,656.81
(2,101,805,781.17)

108,540,212,318.96
13,311.43
6,407,697,982.16
114,947,923,612.55
106,770,127,263.80
2,482,747,656.84
2,007,120,331.36
7,066,527,899.55
118,326,523,151.55
(3,378,599,539.00)

90,405,036.31
585,000.00

–
24,895,738.93

2,754,840.26

4,855,021.21

–
52,947.94
93,797,824.51

11,911,840.85
70,321.11
41,732,922.10

220,863,681.70
95,000,000.00

352,831,289.96
–

900,000.00
781,389.51
317,545,071.21
(223,747,246.70)

11,887,769.50
–
364,719,059.46
(322,986,137.36)

Item
III. Cash flow from financing activities:
Cash received from capital contribution
Cash received from borrowings
Cash received from issuance of bonds
Cash payments relating to other financing activities
Sub-total of cash inflows from financing activities
Cash payments for debts settlement
Cash payments for distribution of dividends, profits, or
interest expenses
Cash payments relating to other financing activities
Sub-total of cash outflows from financing activities
Net cash flow from financing activities
IV. Effect of foreign exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents
Add: Opening balance of cash and cash equivalent
VI. Closing balance of cash and cash equivalents

–6–

January–June 2026

January–June 2025

1,000,000.00
28,844,943,433.52
5,200,000,000.00
2,366,362,180.45
36,412,305,613.97
29,536,945,311.99

30,500,000.00
32,543,818,700.66
5,000,000,000.00
2,768,959,330.39
40,343,278,031.05
31,689,101,756.99

1,902,725,079.14
2,306,968,739.24
33,746,639,130.37
2,665,666,483.60

1,976,598,146.31
2,763,222,188.06
36,428,922,091.36
3,914,355,939.69

–
340,113,455.73
3,951,319,741.63
4,291,433,197.36

–
212,770,263.33
2,940,907,528.27
3,153,677,791.60

CHINA RESOURCES PHARMACEUTICAL COMMERCIAL GROUP
COMPANY LIMITED
BALANCE SHEET
JUNE 2026
Unit: RMB
Item

30 June 2026

31 December 2025

Item

Current assets:

30 June 2026

31 December 2025

Current liabilities:

Monetary fund

3,905,676,544.46

3,782,306,964.46

Short-term borrowings

2,005,790,975.97

484,541,139.63

Accounts receivable

6,584,282,611.96

5,296,570,695.20

Notes payable

1,675,621,388.37

1,581,273,979.00

Financing receivables

244,999,406.17

145,528,497.76

Accounts payable

3,221,272,621.19

2,697,870,457.89

Prepayment

177,872,047.49

221,125,847.99

Contract liabilities

50,830,673.98

14,864,501.34

Other receivables

13,191,010,753.40

11,337,641,504.90

Staff remuneration payable

283,512,328.87

277,989,878.62

Inventory

1,757,517,743.09

1,719,653,237.84

Taxation payable

19,650,169.36

17,016,034.61

5,639,196.50

7,334,667.58

Other payables

11,969,881,828.30

13,754,306,926.13

Non-current liabilities due within
one year

5,098,471,097.38

3,696,695,892.62

–

1,409,734.07

24,325,031,083.42

22,525,968,543.91

970,000,000.00

3,335,000,000.00

Contract assets
Non-current assets due within one
year

1,200,574,999.99

–

Other current assets

260,707,475.38

236,133,555.18

27,328,280,778.44

22,746,294,970.91

Total current assets
Non-current assets:

Other current liabilities
Total current liabilities
Non-current liabilities:

Long-term receivables

10,685,158,342.20

11,886,290,354.28

Long-term borrowings

Long-term equity investments

30,019,638,297.24

29,839,529,534.51

Bonds payable

11,998,746,933.94

7,996,868,303.42

4,200,602.90

4,420,658.48

Long-term payables

91,250,872.72

85,954,204.72

7,416,070.93

7,416,070.93

Long-term employee remuneration
payable

85,490,953.20

84,910,684.26

Fixed assets

133,505,524.46

142,478,781.11

Deferred income tax liabilities

10,476,457.11

138,293.50

Right-of-use assets

37,309,604.17

41,905,828.39

Lease liabilities

17,935,967.03

22,605,577.45

Construction in progress

3,693,741.57

9,322,308.51

Total non-current liabilities

13,173,901,184.00

11,525,477,063.35

Intangible assets

54,860,859.00

55,664,535.26

Total liabilities

37,498,932,267.42

34,051,445,607.26

Investment properties
Other non-current financial assets

Goodwill
–
Long-term deferred expenses

2,916,184.27

Deferred income tax assets
Other non-current assets
Total non-current assets

Total assets

Owners’ equity (or shareholders’
– equity):
3,636,245.93

Paid-in capital (equity)

19,646,531,357.61

19,646,531,357.61

10,492,909.99

154,746.38

Other equity instruments

6,000,000,000.00

6,000,000,000.00

1,518,081.52

1,880,370.82

Capital surplus

3,748,600,793.12

3,728,711,431.50

40,960,710,218.25

41,992,699,434.60

Other comprehensive income

(18,555,260.90)

(18,415,193.00)

Surplus reserves

1,280,741,073.49

1,280,741,073.49

Undistributed profits

132,740,765.95

49,980,128.65

Total equity attributable to owners
of the parent company

30,790,058,729.27

30,687,548,798.25

Total owners’ equity

30,790,058,729.27

30,687,548,798.25

68,288,990,996.69

64,738,994,405.51

68,288,990,996.69

64,738,994,405.51 Total liabilities and owners’ equity

–7–

CHINA RESOURCES PHARMACEUTICAL COMMERCIAL GROUP
COMPANY LIMITED
STATEMENT OF PROFIT OR LOSS
JANUARY TO JUNE 2026
Unit: RMB
Item
Operating revenue
Less: Operating costs
    Tax and surcharge
   Selling expenses
   Management expenses
    Research and development expenses
   Finance costs
    Including: Interest expenses
        Interest income
Add: Other revenue
Gain from investment
Including: Gains from investment in associates
and joint ventures
Gains from changes in fair values
Impairment losses of assets
Loss on credit impairment
Gains from disposal of assets
Operating profits
Add: Non-operating income
Less: Non-operating expenses
Total profits
Less: Income tax expenses
Net profits
Including: Net profits of the absorbed party before business
       combination under common control
Net profits attributable to the owners of the parent company
Other comprehensive income, net of tax
Total comprehensive income

–8–

January–June 2026 January–June 2025
9,451,523,746.88
8,916,378,583.41
8,974,579,364.89
8,464,982,865.98
14,438,827.52
15,423,736.40
211,677,255.30
213,157,094.59
271,376,559.14
240,180,046.33
11,806,407.83
19,164,661.81
(80,670,587.12)
(109,342,377.48)
219,000,762.97
201,248,627.21
301,076,798.81
312,077,228.08
718,851.68
1,184,348.85
1,129,607,431.27
241,665,184.80
57,193,431.27
–
(522,196.08)
(8,977,392.40)
68,391.40
1,169,211,005.19
19,526.26
46,171.68
1,169,184,359.77
–
1,169,184,359.77

71,504,993.51
(474,050.45)
(55,489.42)
(3,828,918.76)
15,677.05
311,319,307.85
13,976.91
1,768,973.66
309,564,311.10
–
309,564,311.10

–
1,169,184,359.77
(140,067.90)
1,169,044,291.87

–
309,564,311.10
144,014.73
309,708,325.83

CHINA RESOURCES PHARMACEUTICAL COMMERCIAL GROUP
COMPANY LIMITED
STATEMENT OF CASH FLOWS
JANUARY TO JUNE 2026
Unit: RMB
Item
I. Cash flows from operating activities:
Cash received from the sales of goods and the rendering of
services
Refund of taxes and levies
Cash received relating to other operating activities
Sub-total of cash inflows from operating activities
Cash paid for goods purchased and services received
Cash paid to and for employees
Payments of all types of taxes
Cash payments relating to other operating activities
Sub-total of cash outflows from operating activities
Net cash flow from operating activities
II. Cash Flow From Investing Activities:
Cash received from investment recovery
Cash received from returns on investments
Net cash received from disposals of fixed assets, intangible
assets and other long-term assets
Net cash received from disposals of subsidiaries and other
operating units
Cash received relating to other investing activities
Sub-total of cash inflows from investing activities
Cash paid to acquire fixed assets, intangible assets and other
long-term assets
Cash paid for investments
Net cash paid for acquisition of subsidiaries and other
operational units
Cash payments relating to other investing activities
Sub-total of cash outflows from investing activities
Net cash flow from investing activities

–9–

January–June 2026

January–June 2025

9,052,309,457.22
–
18,891,990.25
9,071,201,447.47
8,523,328,323.91
339,387,734.90
93,056,706.64
159,121,007.78
9,114,893,773.23
(43,692,325.76)

9,085,340,088.63
–
20,366,799.09
9,105,706,887.72
8,720,953,740.49
328,594,914.49
92,329,580.88
156,798,983.97
9,298,677,219.83
(192,970,332.11)

4,508,404,230.82
534,024,331.57

9,781,911,020.00
685,380,851.62

177,943.63

45,873.43

–
–
5,042,606,506.02

–
–
10,467,337,745.05

10,911,874.93
5,055,100,000.00

8,995,545.48
12,937,465,566.62

–
–
5,066,011,874.93
(23,405,368.91)

–
–
12,946,461,112.10
(2,479,123,367.05)

Item
III. Cash flow from financing activities:
Cash received from capital contribution
Cash received from borrowings
Cash received from issuance of bonds
Cash payments relating to other financing activities
Sub-total of cash inflows from financing activities
Cash payments for debts settlement
Cash payments for distribution of dividends, profits, or
interest expenses
Cash payments relating to other financing activities
Sub-total of cash outflows from financing activities
Net cash flow from financing activities
IV. Effect of foreign exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents
Add: Opening balance of cash and cash equivalent
VI. Closing balance of cash and cash equivalents

– 10 –

January–June 2026

January–June 2025

–
3,200,000,000.00
5,200,000,000.00
1,677,243,750.65
10,077,243,750.65
4,584,597,256.52

–
2,495,000,000.00
5,000,000,000.00
2,353,017,384.96
9,848,017,384.96
573,536,463.57

1,400,299,858.16
3,901,879,229.20
9,886,776,343.88
190,467,406.77

1,266,572,348.10
5,231,622,025.19
7,071,730,836.86
2,776,286,548.10

–
123,369,712.10
3,782,306,604.46
3,905,676,316.56

–
104,192,848.94
2,613,119,787.23
2,717,312,636.17

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不
負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告
全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。

（於香港註冊成立的有限公司）

（股份代號：3320）

公告
有關於中國發行中期票據及公司債券的
華 潤 醫 藥 商 業 截 至 2026 年 6 月 30 日 止 六 個 月 的
未經審核財務業績
謹 此 提 述 (i) 日 期 為 2025 年 12 月 1 日 關 於（ 其 中 包 括 ）本 公 司 的 非 全 資 附 屬 公 司
華 潤 醫 藥 商 業 集 團 有 限 公 司（「華 潤 醫 藥 商 業」）建 議 於 中 國 發 行 中 期 票 據；(ii)
日 期 為 2025 年 12 月 15 日 關 於（其 中 包 括）華 潤 醫 藥 商 業 於 中 國 完 成 發 行 第 一 期
2025 年 中 期 票 據 的 公 告；(iii) 日 期 為 2026 年 3 月 27 日 關 於（其 中 包 括）華 潤 醫 藥 商
業 完 成 於 中 國 發 行 首 期2026年 公 司 債 券 的 公 告；(iv)日 期 為2026年4月28日 關 於（其
中 包 括）華 潤 醫 藥 商 業 完 成 於 中 國 發 行 第 二 期 2026 年 公 司 債 券 的 公 告；及 (v) 日
期 為 2026 年 6 月 26 日 關 於（其 中 包 括）華 潤 醫 藥 商 業 完 成 於 中 國 發 行 第 三 期 2026
年 公 司 債 券 的 公 告（「該 等 公 告」）。除 本 公 告 另 有 說 明 外，本 公 告 所 用 詞 彙 與 該
等 公 告 所 界 定 者 具 有 相 同 涵 義。
根 據 中 國 相 關 規 則 及 法 規 及 就 其 於 中 國 發 行 中 期 票 據 及 公 司 債 券 而 言，華 潤
醫藥商業已就中期票據於中國貨幣網和上海清算所網站以及就公司債券於上
海 證 券 交 易 所 及 深 圳 證 券 交 易 所 網 站 刊 載 其 截 至 2026 年 6 月 30 日 止 六 個 月 的
未 經 審 核 財 務 報 表。

–1–

華 潤 醫 藥 商 業 截 至 2026 年 6 月 30 日 止 六 個 月 的 未 經 審 核 財 務 報 表（「華 潤 醫 藥 商
業 未 經 審 核 財 務 報 表」）隨 附 於 本 公 告 內，僅 供 本 公 司 股 東 參 考。華 潤 醫 藥 商
業 未 經 審 核 財 務 報 表 最 初 以 中 文 編 製，並 已 翻 譯 以 作 英 文 及 中 文 刊 載。如 中
英 文 版 本 有 任 何 歧 義，概 以 中 文 版 為 準。此 外，華 潤 醫 藥 商 業 未 經 審 核 財 務
報 表 乃 根 據 中 國 公 認 會 計 原 則 編 製，未 經 本 公 司 核 數 師 審 閱 或 審 核，且 可 能
須 於 審 核 過 程 中 作 出 調 整。有 關 財 務 資 料 僅 限 於 華 潤 醫 藥 商 業，並 不 能 全 面
反 映 本 集 團 的 營 運 或 財 務 狀 況。
股 東 及 潛 在 投 資 者 於 買 賣 本 公 司 證 券 時 務 請 謹 慎 行 事，且 不 應 完 全 依 賴 該 等 資 料。
承董事會命
華潤醫藥集團有限公司
主席
白曉松先生
中 國，2026 年 8 月 31 日

於 本 公 告 日 期，董 事 會 包 括 主 席 及 執 行 董 事 白 曉 松 先 生；執 行 董 事 程 杰 先 生
及 劉 長 安 先 生；非 執 行 董 事 郭 巍 女 士、孫 永 強 先 生、王 宇 航 先 生、張 靜 女 士 及
焦 瑞 芳 女 士；及 獨 立 非 執 行 董 事 招 敏 慧 女 士、傅 廷 美 先 生、張 克 堅 先 生 及 史
錄 文 先 生。

–2–

華潤醫藥商業集團有限公司
合併資產負債表
2026 年 6 月
項目
流 動 資 產：
貨幣資金
應收票據
應收賬款
應收款項融資
預付款項
其他應收款
存貨
合同資產
一年內到期的非流動資產
其他流動資產
流動資產合計
非 流 動 資 產：
長期應收款
其他權益工具投資
長期股權投資
投資性房地產
其他非流動金融資產
固定資產
使用權資產
在建工程
無形資產
商譽
長期待攤費用
遞延所得稅資產
其他非流動資產
非流動資產合計

資產總計

2026年6月30日

2025年12月31日

10,566,408,988.70
238,340,569.98
87,987,960,862.41
10,792,352,103.53
3,363,496,949.93
6,662,109,837.76
35,447,979,499.71
21,154,593.05
–
1,479,815,587.54
156,559,618,992.61

10,257,067,215.35
241,598,060.17
81,953,462,510.56
9,314,180,265.98
3,550,359,009.85
5,660,783,137.51
33,397,894,883.62
36,368,075.40
–
1,555,535,755.91
145,967,248,914.35

690,553,825.79
2,066,000.00
2,055,834,163.11
97,454,392.46
23,960,022.62
3,578,163,416.61
733,100,485.68
239,037,346.79
1,864,442,547.87
9,732,712,191.40
108,749,631.76
1,002,359,402.28
60,123,788.92
20,188,557,215.29

176,748,176,207.90

項目
流 動 負 債：
短期借款
應付票據
應付賬款
合同負債
應付職工薪酬
應交稅費
其他應付款
一年內到期的非流動負債
其他流動負債

流動負債合計
非 流 動 負 債：
804,033,995.94 長 期 借 款
2,066,000.00 應 付 債 券
1,981,171,228.00 長 期 應 付 款
99,246,587.13 長 期 應 付 職 工 薪 酬
23,960,022.62 遞 延 收 益
3,737,047,170.91 預 計 負 債
807,820,687.26 遞 延 所 得 稅 負 債
96,931,766.61 租 賃 負 債
1,934,472,919.85
非流動負債合計
9,732,712,191.40
負債合計
所有者權益
133,660,255.99 （或 股 東 權 益）：
863,531,449.51 實 收 資 本（股 本）
59,096,473.50 其 他 權 益 工 具
20,275,750,748.72 資 本 公 積
其他綜合收益
盈餘公積
專項儲備
未分配利潤
歸屬於母公司所有者
權益合計
少數股東權益
所有者權益合計
負債和所有者
166,242,999,663.07
權益總計

–3–

金 額 單 位：人 民 幣 元
2026年6月30日

2025年12月31日

39,772,803,913.63
18,725,456,190.62
43,346,728,897.50
1,656,152,452.15
971,115,808.07
638,462,708.30
8,040,776,333.05
6,640,446,210.76
144,549,191.57

33,455,137,520.39
20,489,498,505.52
39,973,927,485.76
1,567,788,033.34
1,095,089,453.36
706,961,740.62
7,558,385,842.13
5,347,902,389.66
116,541,074.19

119,936,491,705.65

110,311,232,044.97

3,243,722,165.89
11,998,746,933.94
168,438,874.67
122,451,799.33
19,403,704.03
–
223,440,355.92
516,585,073.12
16,292,788,906.90
136,229,280,612.55

6,235,411,075.59
7,996,868,303.42
163,142,206.67
120,549,334.37
20,920,263.10
–
247,739,539.83
508,652,160.77
15,293,282,883.75
125,604,514,928.72

19,646,531,357.61
6,000,000,000.00
2,386,026,866.53
(33,998,547.63)
1,284,626,198.44
188,214.12
5,535,956,633.78

19,646,531,357.61
6,000,000,000.00
2,366,137,504.91
(33,858,479.73)
1,284,626,198.44
188,214.12
5,692,606,987.57

34,819,330,722.85
5,699,564,872.50
40,518,895,595.35

34,956,231,782.92
5,682,252,951.43
40,638,484,734.35

176,748,176,207.90

166,242,999,663.07

華潤醫藥商業集團有限公司
合併利潤表
2026 年 1–6 月
金 額 單 位：人 民 幣 元
項目

2026 年 1–6 月

2025 年 1–6 月

營業收入

111,562,037,153.78

108,451,915,412.51

減：營 業 成 本

104,522,952,747.32

101,485,589,123.97

稅金及附加

234,516,783.78

231,458,363.94

銷售費用

2,781,217,241.36

2,603,963,271.90

管理費用

1,175,085,278.37

1,238,189,526.47

研發費用

14,439,245.41

23,914,294.54

財務費用

694,452,097.98

749,630,665.70

其 中：利 息 費 用

674,341,753.41

754,659,134.93

利息收入

18,107,555.72

44,229,230.02

加：其 他 收 益

27,421,832.74

20,822,627.08

投資收益

(40,783,433.68)

(21,296,215.25)

54,669,632.52

69,069,537.24

–

(840,290.71)

資產減值損失

(3,617,382.43)

5,253,859.06

信用減值損失

(507,745,895.09)

(551,054,228.91)

資產處置收益

1,467,878.89

5,614,354.83

1,616,116,759.99

1,577,670,272.09

加：營 業 外 收 入

15,019,465.10

13,279,577.55

減：營 業 外 支 出

16,736,457.18

14,173,802.72

利潤總額

1,614,399,767.91

1,576,776,046.92

減：所 得 稅 費 用

451,020,677.18

450,075,989.07

淨利潤

1,163,379,090.73

1,126,700,057.85

–

–

歸屬於母公司所有者的淨利潤

929,773,368.67

898,760,628.36

*少 數 股 東 損 益

233,605,722.05

227,939,429.49

其他綜合收益的稅後淨額

(140,067.90)

144,014.73

1,163,239,022.83

1,126,844,072.58

其 中：對 聯 營 企 業 和 合 營 企 業
的投資收益
公允價值變動收益

營業利潤

其 中：同 一 控 制 下 企 業 合 併 中 被
合併方合併前淨利潤

綜合收益總額

–4–

華潤醫藥商業集團有限公司
合併現金流量表
2026 年 1–6 月
金 額 單 位：人 民 幣 元
項目

2026 年 1–6 月

2025 年 1–6 月

113,010,781,457.58

108,540,212,318.96

328,435.61

13,311.43

6,535,186,982.45

6,407,697,982.16

經營活動現金流入小計

119,546,296,875.64

114,947,923,612.55

購 買 商 品、接 收 勞 務 支 付 的 現 金

109,454,148,503.47

106,770,127,263.80

支付給職工以及為職工支付的現金

2,579,129,608.43

2,482,747,656.84

支付的各項稅費

2,062,383,618.46

2,007,120,331.36

支付其他與經營活動有關的現金

7,552,440,926.45

7,066,527,899.55

經營活動現金流出小計

121,648,102,656.81

118,326,523,151.55

經營活動產生的現金流量淨額

(2,101,805,781.17)

(3,378,599,539.00)

90,405,036.31

–

取得投資收益收到的現金

585,000.00

24,895,738.93

處 置 固 定 資 產、無 形 資 產 和 其 他 長 期
資產所收回的現金淨額

2,754,840.26

4,855,021.21

處置子公司及其他營業單位收回的
現金淨額

–

11,911,840.85

52,947.94

70,321.11

投資活動現金流入小計

93,797,824.51

41,732,922.10

購 建 固 定 資 產、無 形 資 產 和 其 他 長 期
資產所支付的現金

220,863,681.70

352,831,289.96

投資支付的現金

95,000,000.00

–

取得子公司及其他營業單位支付的
現金淨額

900,000.00

11,887,769.50

支付其他與投資活動有關的現金

781,389.51

–

投資活動現金流出小計

317,545,071.21

364,719,059.46

投資活動產生的現金流量淨額

(223,747,246.70)

(322,986,137.36)

一、經 營 活 動 產 生 的 現 金 流 量：
銷 售 商 品、提 供 勞 務 收 到 的 現 金
收到的稅費返還
收到其他與經營活動有關的現金

二、投 資 活 動 產 生 的 現 金 流 量：
收回投資收到的現金

收到其他與投資活動有關的現金

–5–

項目

2026 年 1–6 月

2025 年 1–6 月

三、籌 資 活 動 產 生 的 現 金 流 量：
吸收投資收到的現金

1,000,000.00

30,500,000.00

取得借款所收到的現金

28,844,943,433.52

32,543,818,700.66

發行債券收到的現金

5,200,000,000.00

5,000,000,000.00

收到其他與籌資活動有關的現金

2,366,362,180.45

2,768,959,330.39

36,412,305,613.97

40,343,278,031.05

償還債務所支付的現金

29,536,945,311.99

31,689,101,756.99

分 配 股 利、利 潤 或 償 付 利 息 所 支 付 的
現金

1,902,725,079.14

1,976,598,146.31

支付其他與籌資活動有關的現金

2,306,968,739.24

2,763,222,188.06

籌資活動現金流出小計

33,746,639,130.37

36,428,922,091.36

籌資活動產生的現金流量淨額

2,665,666,483.60

3,914,355,939.69

四、匯 率 變 動 對 現 金 及 現 金 等 價 物 的 影 響

–

–

340,113,455.73

212,770,263.33

3,951,319,741.63

2,940,907,528.27

4,291,433,197.36

3,153,677,791.60

籌資活動現金流入小計

五、現 金 及 現 金 等 價 物 淨 增 加 額
加：期 初 現 金 及 現 金 等 價 物 餘 額
六、期 末 現 金 及 現 金 等 價 物 餘 額

–6–

華潤醫藥商業集團有限公司
資產負債表
2026 年 6 月
金 額 單 位：人 民 幣 元
項目

2026年6月30日

項目

2025年12月31日

流 動 資 產：

2026年6月30日

2025年12月31日

流 動 負 債：

貨幣資金

3,905,676,544.46

3,782,306,964.46

短期借款

2,005,790,975.97

484,541,139.63

應收賬款

6,584,282,611.96

5,296,570,695.20

應付票據

1,675,621,388.37

1,581,273,979.00

應收款項融資

244,999,406.17

145,528,497.76

應付賬款

3,221,272,621.19

2,697,870,457.89

預付款項

177,872,047.49

221,125,847.99

合同負債

50,830,673.98

14,864,501.34

其他應收款

13,191,010,753.40

11,337,641,504.90

應付職工薪酬

283,512,328.87

277,989,878.62

存貨

1,757,517,743.09

1,719,653,237.84

應交稅費

19,650,169.36

17,016,034.61

5,639,196.50

7,334,667.58

其他應付款

11,969,881,828.30

13,754,306,926.13

一年內到期的非流動資產

1,200,574,999.99

–

一年內到期的非流動負債

5,098,471,097.38

3,696,695,892.62

其他流動資產

260,707,475.38

236,133,555.18

–

1,409,734.07

27,328,280,778.44

22,746,294,970.91

24,325,031,083.42

22,525,968,543.91

合同資產

流動資產合計
非 流 動 資 產：

其他流動負債
流動負債合計
非 流 動 負 債：

長期應收款

10,685,158,342.20

11,886,290,354.28

長期借款

970,000,000.00

3,335,000,000.00

長期股權投資

30,019,638,297.24

29,839,529,534.51

應付債券

11,998,746,933.94

7,996,868,303.42

投資性房地產

4,200,602.90

4,420,658.48

長期應付款

91,250,872.72

85,954,204.72

其他非流動金融資產

7,416,070.93

7,416,070.93

長期應付職工薪酬

85,490,953.20

84,910,684.26

固定資產

133,505,524.46

142,478,781.11

遞延所得稅負債

10,476,457.11

138,293.50

使用權資產

37,309,604.17

41,905,828.39

租賃負債

17,935,967.03

22,605,577.45

在建工程

3,693,741.57

9,322,308.51

非流動負債合計

13,173,901,184.00

11,525,477,063.35

無形資產

54,860,859.00

55,664,535.26

負債合計

37,498,932,267.42

34,051,445,607.26

商譽

–

所有者權益
– （或 股 東 權 益）：

長期待攤費用

2,916,184.27

3,636,245.93

實 收 資 本（股 本）

19,646,531,357.61

19,646,531,357.61

遞延所得稅資產

10,492,909.99

154,746.38

其他權益工具

6,000,000,000.00

6,000,000,000.00

其他非流動資產

1,518,081.52

1,880,370.82

資本公積

3,748,600,793.12

3,728,711,431.50

40,960,710,218.25

41,992,699,434.60

其他綜合收益

(18,555,260.90)

(18,415,193.00)

盈餘公積

1,280,741,073.49

1,280,741,073.49

未分配利潤

132,740,765.95

49,980,128.65

歸屬於母公司所有者
權益合計

30,790,058,729.27

30,687,548,798.25

所有者權益合計

30,790,058,729.27

30,687,548,798.25

負債和所有者
權益總計

68,288,990,996.69

64,738,994,405.51

非流動資產合計

資產總計

68,288,990,996.69

64,738,994,405.51

–7–

華潤醫藥商業集團有限公司
利潤表
2026 年 1–6 月
金 額 單 位：人 民 幣 元
項目

2026 年 1–6 月

2025 年 1–6 月

營業收入

9,451,523,746.88

8,916,378,583.41

減：營 業 成 本

8,974,579,364.89

8,464,982,865.98

稅金及附加

14,438,827.52

15,423,736.40

銷售費用

211,677,255.30

213,157,094.59

管理費用

271,376,559.14

240,180,046.33

研發費用

11,806,407.83

19,164,661.81

財務費用

(80,670,587.12)

(109,342,377.48)

其 中：利 息 費 用

219,000,762.97

201,248,627.21

利息收入

301,076,798.81

312,077,228.08

加：其 他 收 益

718,851.68

1,184,348.85

投資收益

1,129,607,431.27

241,665,184.80

57,193,431.27

71,504,993.51

–

(474,050.45)

資產減值損失

(522,196.08)

(55,489.42)

信用減值損失

(8,977,392.40)

(3,828,918.76)

資產處置收益

68,391.40

15,677.05

1,169,211,005.19

311,319,307.85

加：營 業 外 收 入

19,526.26

13,976.91

減：營 業 外 支 出

46,171.68

1,768,973.66

1,169,184,359.77

309,564,311.10

–

–

1,169,184,359.77

309,564,311.10

–

–

1,169,184,359.77

309,564,311.10

(140,067.90)

144,014.73

1,169,044,291.87

309,708,325.83

其 中：對 聯 營 企 業 和 合 營 企 業 的 投 資 收 益
公允價值變動收益

營業利潤

利潤總額
減：所 得 稅 費 用
淨利潤
其 中：同 一 控 制 下 企 業 合 併 中 被
合併方合併前淨利潤
歸屬於母公司所有者的淨利潤
其他綜合收益的稅後淨額
綜合收益總額

–8–

華潤醫藥商業集團有限公司
現金流量表
2026 年 1–6 月
金 額 單 位：人 民 幣 元
項目

2026 年 1–6 月

2025 年 1–6 月

一、經 營 活 動 產 生 的 現 金 流 量：
銷 售 商 品、提 供 勞 務 收 到 的 現 金

9,052,309,457.22

9,085,340,088.63

–

–

18,891,990.25

20,366,799.09

經營活動現金流入小計

9,071,201,447.47

9,105,706,887.72

購 買 商 品、接 收 勞 務 支 付 的 現 金

8,523,328,323.91

8,720,953,740.49

支付給職工以及為職工支付的現金

339,387,734.90

328,594,914.49

支付的各項稅費

93,056,706.64

92,329,580.88

支付其他與經營活動有關的現金

159,121,007.78

156,798,983.97

經營活動現金流出小計

9,114,893,773.23

9,298,677,219.83

經營活動產生的現金流量淨額

(43,692,325.76)

(192,970,332.11)

收回投資收到的現金

4,508,404,230.82

9,781,911,020.00

取得投資收益收到的現金

534,024,331.57

685,380,851.62

處 置 固 定 資 產、無 形 資 產 和 其 他 長 期
資產所收回的現金淨額

177,943.63

45,873.43

處置子公司及其他營業單位收回的
現金淨額

–

–

收到其他與投資活動有關的現金

–

–

投資活動現金流入小計

5,042,606,506.02

10,467,337,745.05

購 建 固 定 資 產、無 形 資 產 和 其 他 長 期
資產所支付的現金

10,911,874.93

8,995,545.48

5,055,100,000.00

12,937,465,566.62

取得子公司及其他營業單位支付的
現金淨額

–

–

支付其他與投資活動有關的現金

–

–

投資活動現金流出小計

5,066,011,874.93

12,946,461,112.10

投資活動產生的現金流量淨額

(23,405,368.91)

(2,479,123,367.05)

收到的稅費返還
收到其他與經營活動有關的現金

二、投 資 活 動 產 生 的 現 金 流 量：

投資支付的現金

–9–

項目

2026 年 1–6 月

2025 年 1–6 月

三、籌 資 活 動 產 生 的 現 金 流 量：
吸收投資收到的現金

–

–

取得借款所收到的現金

3,200,000,000.00

2,495,000,000.00

發行債券收到的現金

5,200,000,000.00

5,000,000,000.00

收到其他與籌資活動有關的現金

1,677,243,750.65

2,353,017,384.96

10,077,243,750.65

9,848,017,384.96

償還債務所支付的現金

4,584,597,256.52

573,536,463.57

分 配 股 利、利 潤 或 償 付 利 息 所 支 付 的 現 金

1,400,299,858.16

1,266,572,348.10

支付其他與籌資活動有關的現金

3,901,879,229.20

5,231,622,025.19

籌資活動現金流出小計

9,886,776,343.88

7,071,730,836.86

籌資活動產生的現金流量淨額

190,467,406.77

2,776,286,548.10

四、匯 率 變 動 對 現 金 及 現 金 等 價 物 的 影 響

–

–

123,369,712.10

104,192,848.94

3,782,306,604.46

2,613,119,787.23

3,905,676,316.56

2,717,312,636.17

籌資活動現金流入小計

五、現 金 及 現 金 等 價 物 淨 增 加 額
加：期 初 現 金 及 現 金 等 價 物 餘 額
六、期 末 現 金 及 現 金 等 價 物 餘 額

– 10 –