Guangxi Liuzhou Pharm Co Ltd

Liuzhou Pharmaceutical Group released its 2026 interim report on August 27. First-half operating revenue was 10.53 billion yuan, up 2.2 percent year on year, but net profit attributable to the parent was 369 million yuan, down 14.0 percent, showing revenue growth without profit growth. Within this, the pharmaceutical industry segment was hit by centralized procurement of traditional Chinese medicines, with revenue of 512 million yuan, down 9.16 percent, and net profit attributable to the parent of 44.12 million yuan, a sharp drop of 50.94 percent. Industrial profit was nearly halved, making it the main reason for the profit decline. Pharmaceutical wholesale revenue was 7.81 billion yuan, down 2.96 percent year on year, while the retail segment posted strong revenue growth but only a slight increase in profit. At the end of the period, the book balance of accounts receivable exceeded 10.30 billion yuan, with a book value of 9.98 billion yuan. The company has made a bad debt provision of 314 million yuan and flagged accounts receivable management risk.