Sichuan Kelun Pharmaceutical Co Ltd

Kelun Pharmaceutical released its 2026 semi-annual report. In the first half of the year, it achieved operating revenue of 8.839 billion yuan, down 2.7% year-on-year. Net profit attributable to shareholders of the listed company was 1.128 billion yuan, up 12.71% year-on-year. The company plans to distribute a cash dividend of 0.126 yuan per 10 shares, tax included. Based on calculations, the company's second-quarter net profit was 674 million yuan, up 48% quarter-on-quarter.

Kelun Pharmaceutical announced on August 26 that it plans to distribute a cash dividend of 1.26 yuan, tax included, for every 10 shares to all shareholders, with an estimated total payout of 200 million yuan, accounting for 17.77% of the semi-annual net profit attributable to the parent company. In the first half of 2026, Kelun Pharmaceutical achieved revenue of 8.839 billion yuan and a net profit attributable to the parent company of 1.128 billion yuan.

After the proposed results of the 12th national centralized drug procurement were announced, nearly 40 A-share listed pharmaceutical companies had disclosed bid-related announcements as of the evening of August 3, with market attention continuing to heat up. This round of procurement showed clear divergence. Barefoot players like Kelun Pharmaceutical and Huahai Pharmaceutical broke through with newly approved varieties. Kelun Pharmaceutical had 14 product specifications proposed for selection, with 9 varieties having no sales revenue in 2025. Huahai Pharmaceutical had 4 proposed winning products, 3 of which were newly approved in the second quarter of 2026. Meanwhile, Huadong Medicine unexpectedly lost the bid for its core product indobufen tablets. The 4 products it failed to win had combined sales revenue of about 4.634 billion yuan in 2025, accounting for 10.62 percent of the company's total revenue, far exceeding the 2.076 billion yuan from winning products. Its market share in public hospitals faces reshaping. Companies generally view winning national procurement bids as an opportunity to quickly open the domestic sales market, but the decline in hospital share for lost varieties has raised market concerns about the short- to medium-term performance of related firms.

Kelun Pharmaceutical announced that as of July 31, 2026, the company had repurchased 350,000 shares, representing 0.02% of total share capital, for a total amount of 10.37 million yuan, at a price range of 29.55 yuan to 29.702 yuan per share. In the first quarter of 2026, Kelun Pharmaceutical achieved revenue of 4.259 billion yuan and net profit attributable to the parent company of 454 million yuan.

Kelun Pharmaceutical and its subsidiaries have multiple products tentatively selected in the 12th round of national centralized drug procurement. The company announced on August 2 that it participated in the bidding organized by the National Drug Joint Procurement Office on July 31, with tentatively selected products including sacubitril valsartan sodium tablets, fat emulsion injection, compound amino acid injection, enzalutamide soft capsules, and trazodone hydrochloride tablets. In the first quarter of 2026, Kelun Pharmaceutical achieved revenue of 4.259 billion yuan and net profit attributable to the parent of 454 million yuan.

Kelun Pharmaceutical's controlling subsidiary Kelun Biotech has received a clinical trial notice from the Center for Drug Evaluation of the National Medical Products Administration, approving the clinical trial application for the novel dual-payload ADC drug SKB565 for the treatment of advanced solid tumors. SKB565 is the first dual-payload antibody-drug conjugate from Kelun Biotech to enter the clinical stage, featuring an innovative dual-payload design with a dual anti-tumor mechanism.

ChinaAMC Health Mix A disclosed its second-quarter 2026 report, with a quarterly profit of 15.3123 million yuan and a net asset value growth rate of 4.48%. As of the end of the second quarter, the fund size stood at 374 million yuan. Fund manager Sun Mingda stated that during the quarter, the fund continued to increase holdings in innovative drug assets and the pharmaceutical outsourcing services sector, where fundamentals are steadily recovering. The portfolio tilted moderately toward innovation, and going forward, asset allocation will continue to center on two core themes: rigid domestic demand and industrial innovation and upgrading. As of July 21, the fund's three-month cumulative NAV growth rate was 8.21%, ranking 20th out of 127 comparable funds. Its one-year growth rate was 2.28%, ranking 30th out of 127, and its three-year growth rate was 27.88%, ranking 27th out of 102. The fund's three-year Sharpe ratio was 0.3133, with a maximum drawdown of 26.62% and an average equity position of 85.01%. At the end of the second quarter, the top ten heavy-weighted holdings included Kelun Pharmaceutical, RemeGen, and Hengrui Medicine.