In today’s briefing:
- Sinopharm Group Co Ltd (1099.HK) – Performance May Continue to Miss Expectations
Sinopharm Group Co Ltd (1099.HK) – Performance May Continue to Miss Expectations
- Due to disappointing performance in 24Q1-Q3, both revenue and net profit attributable to the parent company in 2024 could face negative growth, but 2025 is expected to have positive growth.
- As pharmaceutical distribution business can just maintain stable but medical device distribution business and retail pharmacies cannot contribute high growth, the overall performance of Sinopharm has lost growth momentum.
- Due to longer payment cycles from hospitals and its business characteristics, Sinopharm is facing significant demands for working capital. Insufficient cash flow makes it difficult to increase the dividend rate.
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