老百姓：2026年第一季度报告(英文版)
Stock Code: 603883 Stock Abbreviation: LBX
LBX Pharmacy Chain Joint Stock Company
2026 First Quarter Report(In case of any discrepancy between the Chinese and English versions of
this document, the Chinese version shall prevail.)
The Company's Board of Directors and all directors undertake that nothing hereofcontains any false records, misleading representations or major omissions, and are legallyliable for authenticity, accuracy and integrity of the contents hereof.
Important NotesThe Board of Directors, the directors and officers of the Company warrant that the contents of thisQuarterly Report are true, accurate and complete, free from false records, misleading statements ormajor omissions, and that they will bear several and joint liability.
The Company's principal, person in charge of accounting work, and person in charge of accountingdepartment (chief accountant) guarantee that the financial information in the quarterly report is true,accurate, and complete.
Whether the first quarter financial statements have been audited
□YES √NO
I. Main Financial Data(i)Main Accounting Data and Financial Indicators
Unit: Yuan Currency: RMB
| Item | Current reporting period | Same period of previous year | Increase/decrease on a year-on-year basis (%) |
| Operating income | 5,481,296,988 | 5,435,220,089 | 0.85 |
| Total profit | 385,806,407 | 366,228,360 | 5.35 |
| Net profits attributable to shareholders of the listed company | 263,855,661 | 250,636,310 | 5.27 |
| Net profits attributable to shareholders of the listed company, net of non-recurring profit and loss | 260,493,540 | 243,498,304 | 6.98 |
| Net cash flows from operating activities | 858,596,944 | 804,266,875 | 6.76 |
| Basic EPS (RMB/share) | 0.35 | 0.33 | 5.36 |
| Diluted EPS (RMB/share) | 0.35 | 0.33 | 5.36 |
| Weighted average return on equity (%) | 3.91 | 3.74 | Increase by 0.17% |
| End of the reporting period | End of the previous year | Increase/decrease on a year-on-year basis (%) | |
| Total assets | 19,907,236,683 | 19,845,403,504 | 0.31 |
| Owner's equity attributable to shareholders of the listed company | 6,799,247,646 | 6,535,391,985 | 4.04 |
(ii)Non-recurring profit or loss items and amounts
√Applicable □Not Applicable
Unit: Yuan Currency: RMB
| Non-recurring profit or loss item | Amount of the current period | Explanation |
| Gains or losses from the disposal of non-current assets, including the reversal of any previously provided for asset impairment | -1,087,616 | |
| Government grants recognized in the current profit or loss, except for government grants that are closely related to the Company's normal business operations, comply with national policy provisions, are enjoyed according to established standards, and have continuous impacts on the Company's profit or loss | 6,902,581 | |
| Except for effective hedging transactions related to the Company's normal business operations, the gains or losses from changes in the fair value of financial assets and liabilities held by non-financial enterprises, as well as gains or losses from the disposal of financial assets and liabilities | 6,843 | |
| Fund possession costs that are recorded in current profit or loss and are charged from the non-financial enterprises | ||
| Profit or loss from entrusting others to make investment or management of assets | ||
| Profit or loss from obtaining of entrusted loans | ||
| Various asset losses caused by force majeure factors, such as natural disasters | ||
| Reversal of impairment provision for accounts receivable subject to individual impairment test | ||
| Profits from deficiency of the investment costs for acquisition of the subsidiaries, associates and joint ventures below the fair value of the net identifiable assets received from the investee at the time of investment | ||
| Current net profit or loss of subsidiaries generated from business combinations involving enterprises under common control from the |
| beginning of the period to the date of consolidation | ||
| Profit or loss from exchange of non-monetary assets | ||
| Profit or loss from debt restructuring | ||
| One-time expenses incurred by the enterprise due to the discontinuation of related business activities such as expenditures for the resettlement of employees | ||
| One-time impact on the current profit or loss due to adjustments in tax, accounting, and other laws and regulations | ||
| One-time share-based payment expenses recognized due to the cancellation or modification of equity incentive plans | ||
| For cash-settled share-based payments, the gains or losses generated by changes in the fair value of employee compensation payable after the exercise date | ||
| Profit or loss from change in fair value of investment property that is subsequently measured at fair value | ||
| Profits generated from transactions that are obviously unfair in terms of transaction price | ||
| Profit or loss from contingencies that are irrelevant to the normal operation business of the Company | ||
| Trustee fee income from entrusted operation | ||
| Other non-operating income and expenses other than the items listed above | -431,470 | |
| Other profit or loss items that conform to the definition of non-recurring profit or loss | ||
| Less: impact of income tax | 533,417 | |
| Influence of minority equity (after-tax) | 1,494,800 | |
| Total | 3,362,121 |
The non-presented items defined as non-recurring profit or loss items at significant amount by theCompany according to the Explanatory Announcement No. 1 on Information Disclosure of CompaniesIssuing Securities to the Public - Non-recurring Profit or Loss, as well as he non-recurring profit or lossitems listed in Explanatory Announcement No. 1 on Information Disclosure of Companies IssuingSecurities to the Public - Non-recurring Profit or Loss shall be accounted for.
□Applicable √Not Applicable
(iii)Changes in main accounting data and financial indicators, and reasons
□Applicable √Not Applicable
II. Shareholder Information(i) Total number of ordinary shareholders and preferred shareholders with restored voting rights, and
shareholding of top ten shareholders table
Unit: shares
| Total number of ordinary shareholders at the end of the reporting period | 64,179 | Total number of preferred shareholders (shareholders) whose voting rights have been restored at the end of the reporting period | 0 | |||
| Shareholding of top 10 shareholders (excluding shares lent through securities refinance) | ||||||
| Name of shareholder | Shareholder nature | Number of shares held | Shareholding ratio (%) | Number of restricted shares held | Pledge, mark, or freeze | |
| Share status | Quantity | |||||
| LBX Pharmaceutical Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 180,453,475 | 23.78 | 0 | Pledged | 114,140,000 |
| Janstar Investment Limited | Foreign legal person | 168,013,035 | 22.14 | 0 | Pledged | 134,410,428 |
| Chen Xiulan | Domestic natural person | 13,565,698 | 1.79 | 0 | None | 0 |
| Shi Zhan | Domestic natural person | 10,018,811 | 1.32 | 0 | None | 0 |
| Hong Kong Securities Clearing Company Limited | Foreign legal person | 8,361,323 | 1.10 | 0 | None | 0 |
| Linzhi Tencent Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 7,391,046 | 0.97 | 0 | None | 0 |
| Zhongtai Securities Co., Ltd. - Huaxia Guozheng FCF Traded Open Index Securities Investment Funds | Others | 5,123,900 | 0.68 | 0 | None | 0 |
| China Galaxy Securities Co., Ltd | Others | 2,206,300 | 0.29 | 0 | None | 0 |
| Dai Lizhong | Domestic natural person | 1,649,778 | 0.22 | 0 | None | 0 |
| Industrial and Commercial Bank of China Limited - Rongtong Health Industry Flexible Hybrid Securities Investment Fund | Others | 1,500,000 | 0.20 | 0 | None | 0 |
| Shareholding of top 10 non-restricted shareholders (excluding shares lent through securities refinance) | |||
| Name of shareholder | Number of freely tradable shares held | Type and number of shares | |
| Share type | Quantity | ||
| LBX Pharmaceutical Group Co., Ltd. | 180,453,475 | RMB ordinary shares | 180,453,475 |
| Janstar Investment Limited | 168,013,035 | RMB ordinary shares | 168,013,035 |
| Chen Xiulan | 13,565,698 | RMB ordinary shares | 13,565,698 |
| Shi Zhan | 10,018,811 | RMB ordinary shares | 10,018,811 |
| Hong Kong Securities Clearing Company Limited | 8,361,323 | RMB ordinary shares | 8,361,323 |
| Linzhi Tencent Technology Co., Ltd. | 7,391,046 | RMB ordinary shares | 7,391,046 |
| Zhongtai Securities Co., Ltd. - Huaxia Guozheng FCF Traded Open Index Securities Investment Funds | 5,123,900 | RMB ordinary shares | 5,123,900 |
| China Galaxy Securities Co., Ltd | 2,206,300 | RMB ordinary shares | 2,206,300 |
| Dai Lizhong | 1,649,778 | RMB ordinary shares | 1,649,778 |
| Industrial and Commercial Bank of China Limited - Rongtong Health Industry Flexible Hybrid Securities Investment Fund | 1,500,000 | RMB ordinary shares | 1,500,000 |
| Description of the relationship or concerted action of the above shareholders | The actual controllers of LBX Pharmaceutical Group Co., Ltd. are Mr. Xie Zilong and Ms. Chen Xiulan (couple). Apart from this, the Company is unaware whether other relationships or concerted actions as defined in the Administrative Measures for the Acquisition of Listed Companies exist among the other shareholders mentioned above. | ||
| Explanation on the participation of top 10 shareholders and top 10 non-restricted shareholders in margin financing, securities lending, and securities refinance business (if any) | Dai Lizhong holds 1,649,778 shares of the Company through a credit account. | ||
Share lending situation of shareholders holding 5% or more, top 10 shareholders, and top 10 non-restricted circulating shareholders participating in securities refinance business
□Applicable √Not Applicable
Changes in top 10 shareholders and top 10 non-restricted circulating shareholders compared to theprevious period due to lending/return reasons in securities refinance
□Applicable √Not Applicable
III. Other RemindersOther important information concerning the Company's operating situation during the reporting periodthat requires investor attention
√Applicable □Not Applicable
(I) Core Competitiveness of the Company during the Reporting Period
1. Deployment of wide penetrating pharmaceutical retail network
By expanding its market through deep engagement in direct sales, M&A, franchises and alliances,the Company has built a pharmaceutical retail chain network with wide coverage and deep penetration.As of March 31, 2026, the total number of stores of the Company reached 15,001, covering 18 provincialmarkets and more than 150 prefecture-level cities and above, including 9,622 direct-sale stores and 5,379franchise stores. The stores not only cover core city business districts, but also penetrate into communityand county markets, demonstrating prominent advantages in scale effect and network synergy.Continuously focus on advantageous and lower-tier markets, and strengthen localized operationcapabilities. As of March 31, 2026, the stores located in advantageous provinces and key cities accountedfor 90%. 69% of the new stores in the first quarter of 2026 were concentrated in advantageous provincesand key cities. As of March 31, 2026, the stores in prefecture-level cities and below accounted for 78%.Among the new stores in the first quarter of 2026, the in prefecture-level cities and below accounted for84%.
2. Eco-empowered franchise alliance asset-light expansion
(1) Improve both quality and efficiency of the franchise business, and highlight the advantages ofasset-light expansion
Deepen asset-light operations and optimize franchise structure. For single stores, the replicability ofthe profit model was strengthened through refined location selection, standardized procedures, full-cycleassistance and digital empowerment. For projects, coordinate regional resources to achieve multi-storesynergy and enhance the scale effect. In the first quarter of 2026, the franchise of old stores accounted for
85.6%, representing a year-on-year increase of 23.1%. The overall development of the franchise businesswas steady, and the distribution sales of the franchise business in the first quarter of 2026 approximatelyamounted to RMB 609.31 million, representing a year-on-year increase of 4.9%.
(2) Improve the business ecology of alliances and steadily build a reserve pool for M&A
The alliance business concentrates on pharmaceutical retail operation services and export of goods,and extensive cooperation is conducted. By the end of the first quarter of 2026, it had covered 29 provincesand cities, and there had been 22,768 alliance stores (not included in the total number of stores). In thefirst quarter of 2026, the alliance distribution sales amounted to RMB 72 million. The Company listedhigh-quality alliance enterprises as potential M&A targets, and accelerated the planning of equityparticipation. At the end of the first quarter of 2026, the Company had cumulatively owned 233
shareholding partners, corresponding to a retail scale of RMB 13.43 billion, and 11,425 stores, whichaccounted for 42% of all partners. Sufficient reserves of high-quality M&A targets were made.
3. "Professional" + "warm" services, and over 10,000 chronic disease management pharmacies
(1) Transformation of stores from being "transaction-based" to be "relationship-based"The "relationship-based" store services focus on key links such as self-assessment of chronic diseasesand follow-up on return visits. They highlight service process and customer experience. Throughsystematic training, the Company has promoted the comprehensive transformation of employees frompsychological cognition to service capability. It takes customer needs as the starting point and foothold ofdecision-making and operation, and wins long-term trust through dedicated services to realize thetransformation into customer relationship partners. In the first quarter of 2026, more than 300"relationship-based" benchmark stores were newly opened, and the Company had a total of 701"relationship-based" benchmark stores.
(2) Upgrading professional chronic disease services and improving health management systemPromote the transformation of chronic disease service model from being "drug-centered" to be "user-centered". Firstly, 10,000 stores across the country are equipped with self-testing equipment for chronicdiseases covering five core indicators: blood sugar, blood pressure, blood uric acid, blood lipids and heartrate. Secondly, maintain dynamic electronic health records with the aid of digital tools such as "AI-basedBlood Pressure and Blood Sugar Interpretation Report". Thirdly, the stores are equipped with apharmaceutical service teams, where licensed pharmacists are the core members, to improve professionalservices by "promoting learning through competitions". By the end of the first quarter, the Company hadmaintained health records for 23.28 million members with chronic diseases, provided health self-testingservices for more than 150 million times, and accumulated 44.04 million return visits.
(3) Improving the membership operation system
The Company has continuously improved its membership business strategy, driving the increase inboth the membership scale and the value of the whole lifecycle through refined operation and equityupgrading. At the end of the first quarter of 2026, the Company had owned 110.4 million members(including franchise). The number of active members in the first quarter was 15.35 million, and the numberof newly registered members during the reporting period was 1.91 million, accounting for 74.1% of themembership sales.
4. Leading medical insurance qualification, and professional customer redirection forundertaking outflow prescriptions
(1) Continuously strengthening professional attributes to attract customers and undertake outflowprescriptions
Build professional pharmacies up to high standards and give priority to undertaking outflowprescriptions. During the reporting period, the Company focused on strengthening its professional servicecapabilities and actively showed care for breast cancer, skin diseases, leukemia, lung cancer, hemophiliaand other diseases. As of the end of the reporting period, the Company had owned 13,492 stores withmedical insurance qualification, including 8,965 direct-sale stores and 4,527 franchised stores with thequalification, and among the direct-sale stores, the stores with medical insurance qualification accounted
for 93.17%. The Company owned 4,514 overall qualified stores. A total of 1,745 stores of the Companyobtained the designated qualification for "outpatient chronic diseases", and 318 stores held dual-channelqualifications.
(2) Improving quality and efficiency of medical insurance business and laying a solid foundation forcompliance operationFirstly, optimize prescription settlement procedures and improve the performance of the settlementsystem. In the first quarter, the Group implemented unified medical insurance-based prescriptionprocedures, clearly defined the boundary of responsibilities for each position, and cleared obstacles to full-link execution. Besides, the Group guarantees more stable, efficient and reliable system operation,effectively improving customers' drug purchasing experience and service efficiency. Secondly, strengthenthe compliance system. Improve standard management procedures adapted to the whole country, and builda sound regulatory response system. Thirdly, improve the drug traceability management capability, to trulyrealize the traceability of drug circulation information, and guarantee medication safety.
5. Fully digital and intelligent retail pharmacies for empowering efficient operations
(1) Improving the application of AI technology
Iteratively optimize "LBX AI". Utilizing the accumulated operational experience and data assets, theCompany has strengthened the "LBX AI's" understanding of business knowledge through targeted training,and output more forward-looking and accurate business decision analysis. A low-code AI agentdevelopment and sharing platform has been built to lower the threshold of application development.
From the perspective of operation, with the core goal of "liberating store clerks' energy and focusingon customer services", we have reduced manual repetitive labor work through automated procedures,helped stores operate in compliance, and enabled store clerks to devote more energy to customer services.In terms of new retail, based on consumer behavior data and market trends, customized strategicsuggestions are generated to promote refined and intelligent operations. For the supply chain, we haveestablished a demand warning system, optimized the intelligent restocking model, improved the accuracyof sales forecast, and improved both inventory efficiency and market responsiveness.
(2) Improvement of new retail business
Firstly, focus on the category leader + private brand (preferred by LBX) strategy, intensify thecoordination of commercial procurement, improve the supply chain response efficiency and satisfactionwith goods, and lower the out-of-stock rate. Secondly, accurately match the market demand through therefined operation of the business districts. Thirdly, AI algorithms empower human-machine collaborationto continuously optimize performance efficiency and customer experience. In the first quarter of 2026, thetotal sales of online channels (including franchises) exceeded RMB 828 million, representing a year-on-year increase of 10.4%. As at the end of the reporting period, the Company had a total of 12,321 storeswith O2O delivery services, including 764 stores operating for 24 hours a day, and the service system wasfurther improved.
6. Pharmaceutical retail companies with courage to innovate
(1) Deepening the reform of commercial procurement system and achieving stable results in costreduction and efficiency enhancement
Firstly, take core products as the strategic anchor points of commercial procurement, and concentrateresources on building a cost-effective and competitive commodity matrix. As at the end of the reportingperiod, the Company had operated approximately 22,800 SKUs (product specifications), and the dayssales of inventory during the reporting period were 90, which took the leading in the industry. Secondly,optimize channel integration and vertical management of procurement, and build a supply chain ecologythat reduces costs, increases efficiency, and achieves mutual benefit and win-win results. In the first quarter,the Company's unified procurement sales accounted for 76.8%, representing a year-on-year increase of
1.5%. Thirdly, with the focus on consumers' health needs, continue to deepen our diversification strategiesand build differentiated competitive advantages. Fourthly, strictly implement product replacement, focuson improving the efficiency of single products, and optimize the structure of private brands. During thereporting period, the sales of self-operated stores with private brands amounted to RMB 952 million,accounting for approximately 24.4% of the sales, representing a year-on-year increase of 1.1%.
(2) Leveraging the advantages of the store network and tapping into commercial insurance businessgrowth
The Company cooperates with insurance companies, Internet hospitals, pharmaceutical companiesand other supply and demand parties to provide health management solutions and comprehensive drugprotection services for commercial health insurance customers. As at the end of the reporting period, morethan 12,000 stores of the Company had enabled commercial insurance payment for business cooperation.With the aid of the store terminal network and member management platform, the Company promotedcommercial health insurance products such as Huiminbao, outpatient insurance, accident health insuranceand expired drug replacement insurance, so as to attract more customers to participate in commercialinsurance plans and tap into business growth.
(3) Commencing "implementation of the talent management plan" to consolidate organizationalcapabilities
Firstly, the talent management system was completely launched, and the talent management wasupgraded from "system construction" to "deep system cultivation". In the first quarter of 2026, 202 corecadres were subject to job rotation. Secondly, the construction of talent echelons was consolidated, andreserve talents were cultivated for core cadres through the mode of "substitution and rotation". In the firstquarter, about 30 reserve talents were selected for four key positions, and about 10 people were trained byrotation.
(4) Making efforts for brand innovation and communication to reach target customer groups inmultiple dimensions
Reach target customer groups in multiple dimensions to enhance brand awareness and reputation. Inthe first quarter, the total omni-channel exposure of the Company's brands exceeded 1 billion. TheCompany cooperated with 20 brands in co-branding, and the number of partner brands increased by 150%year-on-year. Based on the "official account + pharmacist IP" matrix, the Company continuously producedhigh-quality brand promotion videos, with more than 150,000 likes and retweets. In the first quarter of2026, We Media Matrix brand exposure exceeded 62 million times.
(II) Explanation of Operating Data
1. Main business situation by industry
| By industry | Operating income | Operating costs | Gross profit margin (%) | Increase or decrease in operating income compared with the previous year (%) | Increase or decrease in operating costs compared with the previous year (%) | YoY change in gross profit margin (percentage points) |
| Retail | 4,523,867,860 | 2,823,044,207 | 37.60 | 1.27 | 2.59 | -0.81 |
| Franchise, alliance, and distribution | 920,248,527 | 796,309,835 | 13.47 | 1.86 | 2.05 | -0.16 |
| Others | 37,180,601 | 25,230,607 | 32.14 | -42.37 | -41.58 | -0.92 |
| Total | 5,481,296,988 | 3,644,584,649 | 33.51 | 0.85 | 1.94 | -0.71 |
Note: The decrease in the Company's gross profit margin was mainly attributable to the increase inthe proportion of DTP sales resulting from the penetration of DTP (New Special Drug) policies intolower-tier markets and the acceleration of new product approvals, and the increase in the proportion ofonline retail sales resulting from the growth of online retail sales. The gross profit margin of offlineretail net of DTP and online retail basically remained the same on a year-on-year basis.
2. Main business situation by product
| By products | Operating income | Operating costs | Gross profit margin (%) | Increase or decrease in operating income compared with the previous year (%) | Increase or decrease in operating costs compared with the previous year (%) | YoY change in gross profit margin (percentage points) |
| Chinese and western patent medicine | 4,393,809,569 | 3,053,405,214 | 30.51 | 0.52 | 2.53 | -1.36 |
| Chinese medicine | 434,222,583 | 217,344,272 | 49.95 | 9.19 | 2.64 | 3.19 |
| Non-pharmaceuticals | 653,264,836 | 373,835,163 | 42.77 | -1.97 | -3.00 | 0.61 |
| Total | 5,481,296,988 | 3,644,584,649 | 33.51 | 0.85 | 1.94 | -0.71 |
3. Main business situation by region
| By Region | Operating income | Operating costs | Gross profit margin (%) | Increase or decrease in operating income compared with the previous year (%) | Increase or decrease in operating costs compared with the previous year (%) | YoY change in gross profit margin (percentage points) |
| Central China | 2,366,409,987 | 1,531,779,399 | 35.27 | 3.85 | 3.96 | -0.07 |
| South China | 246,129,446 | 159,738,465 | 35.10 | -5.33 | -6.48 | 0.80 |
| North China | 598,647,675 | 421,539,568 | 29.58 | 3.23 | 6.36 | -2.07 |
| East China | 1,389,828,205 | 950,989,754 | 31.58 | -4.16 | -2.49 | -1.17 |
| Northwest China | 880,281,675 | 580,537,463 | 34.05 | 1.60 | 3.78 | -1.38 |
| Total | 5,481,296,988 | 3,644,584,649 | 33.51 | 0.85 | 1.94 | -0.71 |
Note: Central China region includes: Hunan Province, Hubei Province, Jiangxi Province, Henan Province;South China region includes: Guangdong Province, Guangxi Zhuang Autonomous Region;North China region includes: Tianjin Municipality, Inner Mongolia Autonomous Region, Shanxi Province;East China region includes: Zhejiang Province, Shanghai Municipality, Anhui Province, Jiangsu Province,Shandong Province;Northwest China region includes: Shaanxi Province, Gansu Province, Ningxia Hui Autonomous Region,Guizhou Province.
4. Market layout
(1) As of March 31, 2026, the Company had owned 15,001 stores, including 9,622 direct-sale storesand 5,379 franchise stores. The overall distribution of the direct-sale stores during the reporting period isas follows:
Unit: Store
| Region | End of 2025 | January - March 2026 | |
| Net Increase | Closing | ||
| Central China | 3,473 | -59 | 3,414 |
| South China | 544 | -1 | 543 |
| North China | 1,467 | -19 | 1,448 |
| East China | 2,798 | -19 | 2,779 |
| Northwest China | 1,450 | -12 | 1,438 |
| Total | 9,732 | -110 | 9,622 |
(2) The operating efficiency of the Company's directly-operated stores is as follows:
| Store type (classified by average daily sales) | Number of stores (unit) | Store operating area (m2) | Average daily sales per square meter (Yuan/m2) |
| Flagship store | 103 | 42,179 | 212.2 |
| Large store | 254 | 45,875 | 111.4 |
| Small-medium mature store | 9,265 | 914,316 | 38.8 |
| Total | 9,622 | 1,002,370 | 49.4 |
Note: The Company's revenue per available square meter increased by RMB 1.4/m2 compared withthe first quarter of 2025, and by RMB 1/m2 compared with 2025, indicating that the operating quality ofthe Company's stores was gradually improved as a whole.
(3) The situation of directly-operated stores obtaining medical insurance qualifications is as follows:
During the reporting period, 8,965 of the Company's directly-operated stores obtained various"designated retail pharmacy for medical insurance" qualifications, with medical insurance storesaccounting for 93.17%.
| Region | Total Number of Stores | Number of stores with various medical insurance qualifications | Proportion of total stores |
| Central China | 3,414 | 3,293 | 96.46% |
South China
| South China | 543 | 539 | 99.26% |
North China
| North China | 1,448 | 1,241 | 85.70% |
| East China | 2,779 | 2,735 | 98.42% |
Northwest China
| Northwest China | 1,438 | 1,157 | 80.46% |
| Total | 9,622 | 8,965 | 93.17% |
IV. Quarterly Financial Statements(i)Type of Audit Opinion
□Applicable √Not Applicable
(ii)Financial Statements
Consolidated Balance Sheet
March 31, 2026Prepared by: LBX Pharmacy Chain Joint Stock CompanyLBX Pharmacy Chain Joint Stock Company
Unit: RMB Currency: RMB Audit Type: Unaudited
| Item | March 31, 2026 | December 31, 2025 |
| Current assets: | ||
| Cash and bank balances | 2,668,574,392 | 2,358,429,285 |
| Deposit reservation for balance | ||
| Funds lent | ||
| Trading financial assets | ||
| Derivative financial assets | ||
| Notes receivable | 76,492,280 | 58,033,940 |
| Accounts receivable | 1,988,459,862 | 2,107,724,650 |
| Accounts receivable financing | 5,612,871 | 5,612,871 |
| Prepayments | 156,940,056 | 127,750,815 |
| Premiums receivable | ||
| Reinsurance accounts receivable | ||
| Reserves for reinsurance contract receivable | ||
| Other receivables | 183,273,385 | 215,188,071 |
| Of which: interest receivable | ||
| Dividends receivable | ||
| Redemptory monetary capital for sale | ||
| Inventories | 3,633,610,108 | 3,652,252,469 |
| Including: Data resources | ||
| Contract assets | ||
| Assets held for sale | ||
| Non-current assets due within one year | 48,626,732 | 41,225,587 |
| Other current assets | 256,399,342 | 264,435,192 |
| Total current assets | 9,017,989,028 | 8,830,652,880 |
| Non-current assets: | ||
| Loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | 57,743,195 | 66,161,336 |
| Long-term equity investments | 82,256,455 | 81,283,270 |
| Other equity instrument investments | 36,252,923 | 35,768,123 |
| Other non-current financial assets | 6,963,496 | 6,963,496 |
| Investment property | 240,805,064 | 242,880,980 |
| Fixed assets | 1,319,050,353 | 1,348,308,487 |
| Construction in progress | 22,543,608 | 1,734,300 |
| Productive biological assets | ||
| Oil-and-gas assets | ||
| Right-of-use assets | 1,992,642,373 | 2,049,366,982 |
| Intangible assets | 780,081,997 | 802,566,730 |
| Including: Data resources | ||
| Development expenditures | 22,977,031 | 14,773,607 |
| Including: Data resources | ||
| Goodwill | 5,612,990,783 | 5,612,990,783 |
| Long-term deferred expenses | 577,012,855 | 609,448,600 |
| Deferred income tax assets | 129,396,895 | 133,973,303 |
| Other non-current assets | 8,530,627 | 8,530,627 |
| Total non-current assets | 10,889,247,655 | 11,014,750,624 |
| Total assets | 19,907,236,683 | 19,845,403,504 |
| Current liabilities: | ||
| Short-term loans | 498,193,267 | 697,299,622 |
| Borrowings from central bank | ||
| Funds borrowed | ||
| Trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 4,986,734,658 | 5,008,269,907 |
| Accounts payable | 1,890,505,986 | 1,746,997,615 |
| Advances from customers | 19,126,718 | 16,853,246 |
| Contract liabilities | 173,320,877 | 217,575,573 |
| Financial assets sold for repurchase | ||
| Deposits from customers and other banks | ||
| Receiving from vicariously traded securities | ||
| Receiving from vicariously sold securities | ||
| Payroll payable | 357,999,538 | 455,209,144 |
| Taxes and dues payable | 137,060,564 | 152,684,505 |
| Other payables | 592,262,404 | 626,911,001 |
| Of which: Interest payable | ||
| Dividends payable | ||
| Service charges and commissions payable | ||
| Reinsurance accounts payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 1,377,446,395 | 1,227,214,169 |
| Other current liabilities | 17,000,197 | 15,196,091 |
| Total current liabilities | 10,049,650,604 | 10,164,210,873 |
| Non-current liabilities: | ||
| Reserves for insurance contracts | ||
| Long-term loans | 1,316,087,068 | 1,434,968,318 |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 1,198,766,728 | 1,204,831,000 |
| Long-term payables | ||
| Long-term employee compensation payable | ||
| Provisions | ||
| Deferred income | 9,640,567 | 10,556,274 |
| Deferred tax liabilities | 34,642,127 | 34,744,543 |
| Other non-current liabilities | ||
| Total non-current liabilities | 2,559,136,490 | 2,685,100,135 |
| Total liabilities | 12,608,787,094 | 12,849,311,008 |
| Total owner's equity (or shareholder's equity): | ||
| Paid-in capital (or capital stock) | 758,890,236 | 758,890,236 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserve | 1,694,612,672 | 1,694,612,672 |
| Less: Treasury stock | ||
| Other comprehensive income | 15,231,092 | 15,231,092 |
| Special reserve | ||
| Surplus reserve | 350,789,036 | 350,789,036 |
| General risk reserve | ||
| Undistributed profits | 3,979,724,610 | 3,715,868,949 |
| Total owner's equity (or shareholder's equity) attributable to parent company | 6,799,247,646 | 6,535,391,985 |
| Minority equity | 499,201,943 | 460,700,511 |
| Total owner's equity (or shareholder's equity) | 7,298,449,589 | 6,996,092,496 |
| Total liabilities and owner's equity (or shareholder's equity) | 19,907,236,683 | 19,845,403,504 |
Principal of the Company: Xie Zilong Person in Charge of Accounting Work: Chen Lishan Personin Charge of Accounting Department: Shi Lei
Consolidated Income Statement
January - March 2026Prepared by: LBX Pharmacy Chain Joint Stock CompanyLBX Pharmacy Chain Joint Stock Company
Unit: RMB Currency: RMB Audit Type: Unaudited
| Item | First Quarter 2026 | First Quarter 2025 |
| I. Total operating income | 5,481,296,988 | 5,435,220,089 |
| Of which: Operating income | 5,481,296,988 | 5,435,220,089 |
| Interest income | ||
| Premium earned | ||
| Fee and commission income | ||
| II. Total operating costs | 5,110,519,821 | 5,088,365,773 |
| Including: operating costs | 3,644,584,649 | 3,575,169,042 |
| Interest expense | ||
| Fee and commission expense | ||
| Refunded premiums | ||
| Net claims paid | ||
| Net provision for insurance liabilities | ||
| Expenditures for policy dividends | ||
| Reinsurance expenses | ||
| Taxes and surcharges | 20,339,349 | 19,606,254 |
| Selling expenses | 1,137,949,946 | 1,178,098,269 |
| Administrative expenses | 267,567,403 | 269,319,579 |
| R&D expenses | 12,094,832 | 8,405,207 |
| Financial expenses | 27,983,642 | 37,767,422 |
| Including: Interest expenses | ||
| Interest income | ||
| Add: Other income | 15,013,661 | 16,365,873 |
| Investment income (loss indicated with "-") | 980,027 | 1,710,371 |
| Including: Income from investments in associates and joint ventures | ||
| Gain on derecognition of financial assets measured at amortized cost | ||
| Exchange gains (losses indicated with "-") | ||
| Net gains (losses indicated with "-") on net investment hedges | ||
| Gains from change in fair value (losses indicated with "-") | ||
| Credit impairment loss (loss indicated with "-") | 221,413 | -172,263 |
| Asset impairment loss (loss indicated with "-") | 333,224 | 144,065 |
| Gains from disposal of assets (losses indicated with "-") | -1,087,616 | -757,855 |
| III. Operating profits (loss indicated with "-") | 386,237,876 | 364,144,507 |
| Add: non-operating income | 3,434,572 | 4,853,057 |
| Less: non-operating expenses | 3,866,041 | 2,769,204 |
| IV. Profit before tax (Total loss indicated with "-" ) | 385,806,407 | 366,228,360 |
| Less: income tax expenses | 83,449,314 | 78,503,678 |
| V. Net Profit (Net loss indicated with "-") | 302,357,093 | 287,724,682 |
| (I) By operating continuity | ||
| 1. Net profit from ongoing operations (net loss indicated with "-") | 302,357,093 | 287,724,682 |
| 2. Net profit from discontinued operations (net loss indicated with "-") | ||
| (II) By ownership attribution | ||
| 1. Net profits attributable to the parent company’s shareholders (net losses indicated with “-”) | 263,855,661 | 250,636,310 |
| 2. Minority interest (net loss indicated with "-") | 38,501,432 | 37,088,372 |
| VI. Net amount of other comprehensive income after tax | ||
| (I) Other comprehensive income attributable to owners of the parent company, net of tax | ||
| 1. Other comprehensive income that will not be reclassified into profit or loss | ||
| (1) Remeasurement changes in defined benefit plans | ||
| (2) Other comprehensive income that cannot be carried over to profit or loss under equity method | ||
| (3) Changes in the fair value of other equity instrument investments | ||
| (4) Changes in the fair value of the enterprise's own credit risk | ||
| 2. Other comprehensive income that will be re-classified into profit or loss | ||
| (1) Other comprehensive income under equity method that can be transferred to profit or loss | ||
| (2) Changes in the fair value of other debt investment | ||
| (3) Amount of financial assets reclassified into other comprehensive income | ||
| (4) Credit impairment provision of other debt investments | ||
| (5) Hedging reserve of cash flows | ||
| (6) Translation differences of foreign currency financial statements | ||
| (7) Others | ||
| (II) Post-tax net amount of other comprehensive income attributable to minority shareholders | ||
| VII. Total comprehensive income | 302,357,093 | 287,724,682 |
| (I) Total comprehensive income attributable to owners of the parent company | 263,855,661 | 250,636,310 |
| (II) Total comprehensive income attributable to minority shareholders | 38,501,432 | 37,088,372 |
| VIII. Earnings per share (EPS) | ||
| (I) Basic earnings per share (RMB/share) | 0.35 | 0.33 |
| (II) Diluted EPS (RMB/share) | 0.35 | 0.33 |
For business combinations involving enterprises under common control occurring during the period, thenet profit realized by the combined party before the combination was: RMB 0, and the net profit realizedby the combined party in the previous period was: RMB 0.Principal of the Company: Xie Zilong Person in Charge of Accounting Work: Chen Lishan
Person in Charge of Accounting Department: Shi Lei
Consolidated Cash Flow Statement
January - March 2026Prepared by: LBX Pharmacy Chain Joint Stock CompanyLBX Pharmacy Chain Joint Stock Company
Unit: RMB Currency: RMB Audit Type: Unaudited
| Item | First Quarter 2026 | First Quarter 2025 |
| I. Cash flow from operating activities: | ||
| Cash received from sales of goods and rendering of services | 6,340,617,796 | 5,962,689,738 |
| Net increase in deposits from customers and interbank | ||
| Net increase in loans from the central bank | ||
| Net increase in funds borrowed from other financial institutions | ||
| Cash received from original insurance contract premiums | ||
| Net cash received from reinsurance business | ||
| Net increase in policyholder savings and investment funds | ||
| Cash received from interest, fees, and commissions | ||
| Net increase in borrowed funds | ||
| Net increase in funds from repurchase agreements | ||
| Net cash received from securities trading agency | ||
| Refund of tax and levies | 422,338 | 1,630,258 |
| Other cash received relating to operating activities | 141,666,227 | 164,568,300 |
| Subtotal of cash inflows of operating activities | 6,482,706,361 | 6,128,888,296 |
| Cash paid for purchasing goods and receiving services | 4,169,588,703 | 3,831,806,465 |
| Net increase in customer loans and advances | ||
| Net increase in deposits in the central bank and interbank | ||
| Cash paid for original insurance contract claims | ||
| Net increase in the lending funds | ||
| Cash paid for interest, fees, and commissions | ||
| Cash paid for policy dividends | ||
| Cash paid to and for employees | 923,136,396 | 957,930,913 |
| Various tax payments | 247,985,728 | 231,130,419 |
| Other cash paid relating to operating activities | 283,398,590 | 303,753,624 |
| Subtotal of cash outflows from operating activities | 5,624,109,417 | 5,324,621,421 |
| Net cash flows from operating activities | 858,596,944 | 804,266,875 |
| II. Cash flows from investing activities: | ||
| Cash received from return on investments | 130,303 | |
| Cash received from investment income | 419,018 | 314,173 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 53,355 | 6,010,837 |
| Net cash recovered from disposal of subsidies and other operating units | 7,362,626 | 208,977 |
| Other cash received relating to investing activities | ||
| Subtotal of cash inflows of investing activities | 7,965,302 | 6,533,987 |
| Cash paid for acquisition and construction of fixed assets, intangible assets and other long-term assets | 37,165,632 | 56,789,500 |
| Cash paid for investment | 5,040 | 412,961 |
| Net increase in pledge loans | ||
| Net cash paid for acquisition of subsidiaries and other business entities | 202,500 | |
| Other cash paid relating to investing activities | 550,000 | |
| Subtotal of cash outflows from investing activities | 37,170,672 | 57,954,961 |
| Net cash flows from investing activities | -29,205,370 | -51,420,974 |
| III. Cash flows from financing activities: | ||
| Cash received from capital contributions | ||
| Including: cash received by subsidiaries from minority shareholders | ||
| Cash received from loans | 100,000,000 | 5,590,000 |
| Other cash received related to financing activities | ||
| Subtotal of cash inflows of financing activities | 100,000,000 | 5,590,000 |
| Cash paid for repayment of debts | 221,110,278 | 460,324,535 |
| Cash paid for distributing dividends and profits or repaying interest | 7,812,561 | 32,694,593 |
| Including: dividends and profits paid by subsidiaries to minority shareholders | 23,419,644 | |
| Other cash paid relating to financing activities | 294,714,378 | 314,592,760 |
| Subtotal of cash outflows from financing activities | 523,637,217 | 807,611,888 |
| Net cash flows from financing activities | -423,637,217 | -802,021,888 |
| IV. Effect of exchange rate changes on cash and cash equivalents | ||
| V. Net increase in cash and cash equivalents | 405,754,357 | -49,175,987 |
| Add: opening balance of cash and cash equivalents | 1,143,841,378 | 986,735,653 |
| VI. Closing balance of cash and cash equivalents | 1,549,595,735 | 937,559,666 |
Principal of the Company: Xie Zilong Person in Charge of Accounting Work: Chen Lishan
Person in Charge of Accounting Department: Shi Lei(iii)First-time adoption of new accounting standards or interpretations, etc., in 2026 involving
adjustment of the financial statements at the beginning of the first year of adoption
□Applicable √Not Applicable
This announcement is hereby made.
Board of Directors of LBX Pharmacy Chain Joint Stock Company
April 22, 2026