On July 12, at the 2026 (43rd) National Pharmaceutical Industry Information Conference, the China Pharmaceutical Industry Information Center officially released the “2025 China Pharmaceutical Industry Main Business Revenue Top 100 Companies” list (commonly known as the “Top 100 Pharmaceutical Industry” in the industry). Kangchen Pharmaceutical (01681) was selected for the first time on this list and was awarded the “China Pharmaceutical Industry Investment Value Potential Enterprise” for its steady financial performance and growth momentum.
As an important yardstick for measuring the level of development of China's pharmaceutical industry, the list of the top 100 pharmaceutical industry strictly relies on the Ministry of Industry and Information Technology's “China Pharmaceutical Industry Statistical Annual Report” for objective ranking, and is quite authoritative and credible in the industry. The “Investment Value Potential Enterprise” selection released at the same time carried out comprehensive research and judgment on multiple dimensions such as R&D innovation, market performance, profitability, and capital market return. This time, Kangchen Pharmaceutical was selected as one of the top 100 companies and was awarded as a potential investment value enterprise, fully demonstrating its comprehensive strength and long-term development prospects.
Revenue exceeded 3.4 billion, market capitalization surpassed 10 billion, and capital market performance was steady
Kangchen Pharmaceutical is a modern pharmaceutical enterprise integrating R&D, production and marketing. It was listed on the main board of the Hong Kong Stock Exchange in 2013. According to the 2025 report, the Group achieved annual sales revenue of about RMB 3.42 billion, an increase of about 15.2% over the previous year; in the same year, the Group's market capitalization surpassed the 10 billion mark. The continuous rise in performance and clear strategic planning have won it wide recognition in the capital market, and it has become a strong footnote for its evaluation as an “enterprise with potential investment value”.
In terms of industrial and regional layout, Kangchen Pharmaceutical is committed to providing full-course, integrated traditional Chinese and Western medicine joint solutions in the field of nephrology, and continues to cultivate core sectors such as imaging, women and children, and OTC. At present, the Group has built a national industrial map spanning North and South, East and West: with Guangzhou in Guangdong, Tongliao in Inner Mongolia, Khorgos in Xinjiang, and Yulin in Guangxi as the core, it has built a production base group leading in scale and intelligence. Among them, the Inner Mongolia base is accelerating the upgrading of the intelligent manufacturing industry of traditional Chinese medicine. The Khorgos base is deeply integrated into the “Belt and Road” strategy, while Guangxi Yulin Pharmaceutical relies on “time-honored Chinese brands” and intangible cultural heritage resources to unleash strong brand synergy effects.
Up to now, Kangchen Pharmaceutical has 137 product varieties, of which 30 varieties have entered the national essential drug catalogue and 67 varieties have entered the national medical insurance catalogue (2025 edition). Key products include uretoxin granules, nephrogen-enhancing wet granules, gadolipenate glucamine injections, iron dextran oral solution, bone water, wet toxin capsules, chicken bone herb capsules, etc.
Revenue and market value both broke the game, and Kangchen Pharmaceutical established a basic market for high-quality growth
Financial analysts pointed out that Kangchen Pharmaceutical was awarded the “China Pharmaceutical Industry Investment Value Potential Enterprise” this time, and has a solid underlying logic at the capital market level. First, in terms of financial fundamentals, the Group's annual revenue exceeded 3.4 billion yuan and achieved high growth of 15.2% on a large basis; at the same time, net profit and cash flow performance continued to be steady, showing strong cyclical resilience and profit quality.
Second, judging from business certainty and valuation logic, as the absolute leader in the domestic nephrology proprietary Chinese medicine field, the core product Uredox Granule continues to consolidate its extremely high market share with long-term clinical evidence-based medical evidence. While contributing to the group's stable cash flow “basic market,” it is also actively exploring overseas expansion paths. At the same time, the diversified volume of core sectors such as video, women and children, as well as the release of production capacity brought about by the upgrading of intelligent manufacturing in Inner Mongolia and the layout along the “Belt and Road” in Xinjiang, have established a clear second growth curve. In the current context where the capital market favors assets with “high dividends, high certainty, and growth flexibility,” Kangchen Pharmaceutical's breakthrough in market capitalization of 10 billion dollars is a phased implementation of its leapfrog growth in endogenous value. In the future, with the implementation of the “15th Five-Year Plan” intelligent transformation, it is expected that the valuation premium space will be further opened up, and long-term and sustainable dividend returns will continue to be created for shareholders.
Focus on intelligent upgrading and discuss high-quality industrial development paths
In this year's top 100 pharmaceutical industry list, the number of shortlisted companies in Guangdong Province reached a new high. Among them, Guangzhou occupied two seats. Kangchen Pharmaceutical first entered the top 100 as a leading proprietary Chinese medicine company for kidney disease growing locally. It not only filled the gap in the top 100 in related segments, but also showed the high-quality pattern of integrating elite private enterprises and large state-owned enterprises in the Guangzhou pharmaceutical industry and building an increasingly perfect echelon.
With the theme of “Exploring Life and Creating the Future Together”, the 2026 National Pharmaceutical Industry Information Conference will focus on the “15th Five-Year Plan” intelligent upgrading of the pharmaceutical industry. Authoritative experts and leading enterprise representatives from the fields of government, industry, academia, research, medicine, etc., discussed core topics such as AI-enabled drug research and development, intelligent manufacturing, and clinical transformation.
During the annual meeting, An Meng, Chairman of the Board of Directors and President of Kangchen Pharmaceutical Group, was invited to attend the “AI and Pharmaceutical Innovation” panel discussion and participate in the “China Traditional Chinese Medicine Industry Innovation and Development Research Conference”.
In in-depth exchanges with regulatory authorities, industry experts and business peers, Chairman An Meng shared Kangchen Pharmaceutical's thoughts on common pain points in the industry. He said that the future ecology of the Chinese medicine industry must be “open cooperation and deep collaboration.” Kangchen Pharmaceutical has been deeply involved in nephrology for nearly 30 years. It aims to become the “industry champion” for integrated joint solutions of traditional Chinese and Western medicine in the field of nephrology, focusing on breaking the game in two major dimensions:
The first is to use digital intelligence to break through transformation bottlenecks. In the process of leaping from traditional Chinese medicine to innovative medicine, Kangchen adheres to the principle of “building platforms together, sharing data, and sharing risks”. Actively embrace AI on the R&D side, deepen the integration of industry, education, research and use, use big data and modern scientific language to consolidate the foundation of evidence-based medicine; target advanced industries on the manufacturing side, and reshape the entire production chain through intelligence and digitalization.
The second is to use solid clinical evidence to break international barriers. Kangchen Pharmaceutical is seizing the “Belt and Road” opportunities and is steadily advancing the internationalization process. Currently, related research has been carried out simultaneously in Indonesia, Uzbekistan and other countries.
“Using human intelligence and imagination as the body, and using AI's intelligent technology as a wing.” In his speech, Chairman An Meng said that in the future, Kangchen Pharmaceutical will work hand in hand with industry colleagues to steadily improve medicine, make safe medicine, and make conscientious medicine, and strive to become a “hero” to protect human life and health and a firm force for traditional Chinese medicine to the world.