1. People's Republic of China Stocks

  2. •

    Healthcare

  3. •

    Medical - Distribution
China National Accord Medicines Corporation Ltd.

China National Accord Medicines Corporation Ltd.

200028.SZ
China National Accord Medicines Corporation Ltd.CN flagShenzhen Stock Exchange
11.90
HKD
+0.05
- -
12.66BMarket Cap
China National Accord Medicines Corporation Ltd.
200028.SZ
(Shenzhen Stock Exchange)

Recent

price

11.90

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
35.02
40.46
48.05
56.71
53.66
68.68
74.88
74.12
77.53
94.79
107.03
122.76
131.9
135.45
133.13
131.85
98.8
Revenue per Share
0.7
0.88
1.27
1.39
1.46
1.68
2.15
1.9
2.18
2.28
2.52
2.4
2.67
2.87
1.15
2.04
1.45
Basic EPS, GAAP
0.67
0.08
0.35
0.84
-2.55
2.1
2.19
1.94
1.92
3.16
2.17
2.31
4.02
4.69
5.35
2.55
-0.22
Free Cash Flow per Basic Share
0.29
0.37
0.51
0.58
0.47
0.4
0.39
0.44
0.49
0.89
0.99
1.1
1.03
1
1.08
0.69
0.6
Dividend per Share
2.7
3.41
4.46
5.6
6.09
7.22
9.17
10.78
12.74
14.69
16.73
18.53
20.74
23.09
23.51
25.26
25.96
Book Value per Share
2.54
3.34
4.25
5.55
10.35
12.04
14.11
15.75
22.93
25.48
24.06
26.18
28.82
31.61
32.96
35.22
36.02
Tangible Book Value per Share
373
374
375
374
446
551
551
557
556
557
557
557
557
557
559
557
553
Basic Weighted Avg Shares
13,064
15,150
18,012
21,199
23,954
37,819
41,248
41,263
43,122
52,787
59,649
68,358
73,443
75,477
74,378
73,416
54,618
Sales/Revenue/Turnover
2.97
3.4
3.98
3.82
3.79
3.61
3.44
3.17
3.38
3.34
3.39
3.15
3.28
3.31
2.25
2.51
2.51
Operating Margin (%)
83
90
95
99
105
168
166
108
116
819
1,058
1,268
1,307
1,426
1,545
1,261
- -
Depreciation Expense
261
328
476
520
652
928
1,187
1,058
1,211
1,268
1,402
1,336
1,487
1,599
642
1,136
804
Net Income, GAAP
22.24
20
19.83
18.95
19.23
20.62
19.9
21.1
19.69
20.05
20.21
22.65
23.34
20.81
58.82
25.23
25.67
Effective Tax Rate (%)
2
2.17
2.64
2.46
2.72
2.45
2.88
2.56
2.81
2.4
2.35
1.96
2.02
2.12
0.86
1.55
1.47
Profit Margin (%)
207
442
734
979
3,304
4,730
5,553
6,191
9,738
9,932
9,005
9,469
10,681
12,032
12,774
14,091
14,411
Working Capital
30
93
82
- -
40
72
15
32
32
1,208
1,335
1,447
1,345
1,452
1,371
912
862
LT Debt
1,131
1,427
1,839
2,317
4,851
7,872
8,918
9,928
13,906
15,574
16,889
18,022
19,445
20,978
20,755
21,624
21,913
Total Equity
14.84
14.8
16.09
14.85
12.66
13.43
11.18
9.23
8.24
7.88
8.1
7.7
8.1
8.01
2.64
5.32
3.79
Return on Invested Capital (%)
16.19
16.11
17.24
15.41
16.35
17.4
18.04
14.02
12.21
9.74
8.57
8.14
7.79
7.2
5.36
6.01
4.26
Return on Capital (%)
28.93
28.73
32.27
27.65
27.11
27.72
26.29
19.14
18.51
16.61
16.02
13.61
13.6
13.1
4.94
8.35
5.78
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
3,343
3,233
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
912
862
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
557
557
Market Capitalization
6,260
6,064
6,051

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
40,196
40,308
Cash, Cash Equivalents & STI
- -
7,802
5,179
Accounts Receivable, Net
- -
21,538
23,899
Inventories
- -
8,122
8,474
Total Current Liabilities
- -
26,105
25,898
Payables & Accruals
- -
- -
- -
ST Debt
- -
3,343
3,233
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.07%
5.12%
4.19%
Free Cash Flow
8.54%
11.83%
-52.45%
Net Income, GAAP
7.79%
6.22%
76.8%
Sales/Revenue/Turnover
7.11%
4.41%
-1.29%
Total Cash Common Dividend
8.88%
-5.12%
-36.02%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
19,090
18,695
18,680
17,912
74,378
2025
18,294
18,503
- -
18,291
73,416
2026
17,823
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.7
- -
- -
- -
1.15
2025
0.59
- -
- -
- -
2.04
2026
0.52
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
- -
- -
- -
1.08
2025
0.08
- -
- -
- -
0.69
2026
0.07
- -
- -
- -
- -
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Business
China National Accord Medicines Corporation Ltd. operates as a leading pharmaceutical company in China primarily engaged in pharmaceutical distribution and retail. Its core products and services include comprehensive pharmaceutical distribution covering drugs, medical apparatus and consumables, pharmaceutical retail through a network of branded stores including the Guoda Pharmacy chain, and integrated supply chain and logistics services. The company focuses on multiple segments such as drug distribution, retail diagnosis and treatment, medical instrument retail, and third-party logistics for pharmaceutical products in Guangdong and Guangxi regions, while also developing own-brand nutrient and healthcare products. Founded in 1997 and headquartered in Guangzhou, China, it functions as a subsidiary of China National Pharmaceutical Group Co., Ltd. (Sinopharm), making it the group's key platform for pharmaceutical retail and distribution. In recent years, China National Accord Medicines has implemented intelligent supply chain innovations and expanded multi-channel sales including online health services and retail clinics covering traditional Chinese medicine, Western medicine, and rehabilitation therapy. The company has been actively enhancing chronic disease management services and incorporating digital health applications aligned with the "Internet+" trend. Major recent changes include strategic cooperation agreements with global partners such as Fresenius Kabi to consolidate and expand pharmaceutical sales, warehousing, distribution, and healthcare service offerings. The company reported a slight decline in operating revenue and net profit in 2025 but continues to optimize its store footprint and supply chain capabilities to maintain leadership in China’s pharmaceutical retail sector. It also supports the Healthy China national strategy through enhanced innovation and service integration across its varied business lines. These initiatives reinforce its market-leading position in southern China while pursuing national expansion opportunities.