Sinopharm subsidiary posts steady Q1 profit growth but cash flow weakens
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Sinopharm Group's subsidiary, China National Medicines Corporation, reported a 6.63% increase in Q1 revenue to RMB 13.56 billion and a 3.32% rise in net profit to RMB 474 million. However, cash flow from operations fell to a negative RMB 3.59 billion, indicating collection pressures. Total assets decreased by 1.39% to RMB 36.18 billion, while equity rose by 2.70%. Analysts rate the stock as a Buy with a target price of HK$22.50, despite concerns over cash flow.
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