Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Stock Code: 600380 Stock Short Name: 健康元

Joincare Pharmaceutical Group Industry Co. Ltd.2026 First Quarterly Report

The Board of Directors and all Directors of the Company hereby warrant that there are no false

representations misleading statements or material omissions contained in this announcement and

accept legal responsibility for the truthfulness accuracy and completeness of the contents hereof.IMPORTANT NOTICE:

* The Board of Directors directors and senior management of the Company hereby warrant the

truthfulness accuracy and completeness of the contents of this quarterly report and that there are no

false representations misleading statements or material omissions contained herein and severally

and jointly accept legal responsibility.* The person-in-charge of the Company the person-in-charge of accounting work and the person-in-

charge of the accounting department (the head of the accounting department) hereby warrant the

truthfulness accuracy and completeness of the financial information contained in this quarterly report.* Whether the first quarterly financial statements have been audited.□Yes √No

I. MAJOR FINANCIAL DATA

(I) Major Accounting Data and Financial Indicators

Unit: Yuan Currency: RMB

The Reporting Period The same period of the

Item YoY change (%)

(From January to March) previous year

Revenues 3721497528.96 4089279479.56 -8.99

Total profit 1036837891.56 1151118552.69 -9.93

Net profit attributable to

shareholders of the listed 414971222.32 435788328.07 -4.78

company

Net profit attributable to

shareholders of the listed

406044025.41423759792.88-4.18

company after deduction of

extraordinary gains and losses

1 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Net cash flow from operating

914648142.82809939509.2012.93

activities

Basic earnings per share

0.230.23-

(RMB/share)

Diluted earnings per share

0.230.23-

(RMB/share)

Weighted average return on net Decreased by 0.29

2.702.99

assets (%) percentage points

Change as at the end of

As at the end of the As at the end of the the Reporting Period as

Reporting Period previous year compared to the end of

the previous year(%)

Total assets 35477298744.83 35414299308.64 0.18

Owner's equity attributable to

shareholders of the listed 15610934233.56 15179567286.42 2.84

company

(II) Items and Amounts of Extraordinary Gains and Losses

√Applicable □N/A

Unit: Yuan Currency: RMB

For the

Item Explanations

Reporting Period

Gains and losses on disposal of non-current assets (including the Gain or Loss on disposal of

8700507.66

reversal of previously recognized asset impairment provisions) non-current assets

Government grants recognized in profit or loss for the current

period (excluding government grants that are closely related to Government grants

the business of the Company and are provided in fixed amount 15606124.53 recognized in profit or loss

or quantity continuously according to the applicable polices and for the current period

standards of the country).Gains or losses from changes

Excluding effective hedging activities related to the company's

in the fair value of trading

ordinary operating business this refers to gains and losses

financial assets/liabilities

arising from changes in the fair value of financial assets and

-6790704.91 and investment income from

financial liabilities held by non-financial enterprises as well as

holding or disposing of

gains and losses from the disposal of financial assets and

trading financial

financial liabilities.assets/liabilities

Other non-operating income

Other non-operating income and expenses excluding the above

-3531732.49 and expenses not included in

items

the above items

Income tax effects of the

Less: Effect of income tax 4250772.79

above items

Portion of the above

Effect of minority equity (after tax) 806225.09 items attributable to

minority interests

Total 8927196.91For the items not listed in the “Explanatory Announcement No.1 for Public Company InformationDisclosures-Extraordinary Gains or Losses” that the company identifies as non-recurring gains and losses

especially those with significant amounts as well as the extraordinary gain or loss items as illustrated inthe “Explanatory Announcement No.1 for Public Company Information Disclosures-Extraordinary Gains

2 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Reportor Losses” which has been defined as its recurring gain or loss items the reasons for such classification

should be explained.□Applicable √N/A

(III) Changes in Major Accounting Data and Financial Indicators and Reasons Thereof

□Applicable √N/A

(IV) Material Changes in Other Items in Financial Statements and Financial Indicators and Reasons

Thereof

Unit: Yuan Currency: RMB

Balance Sheet Ending Balance Beginning Balance Change Explanation

Mainly due to the maturity and

Financial assets held for

1045630595.51 1694102766.69 -38.28% recovery of certain structured

trading

deposits.Mainly due to new cash management

and reverse repurchase financial asset

Other current assets 774262545.86 129622238.09 497.32%

investment business in the current

period.Mainly due to the increase in long-

Other equity instrument

2323327871.47 990428693.50 134.58% term equity investments not held for

investments

trading during the current period.Mainly due to changes in the

Financial liabilities held for

950782.80 487431.05 95.06% exchange rates of forward foreign

trading

exchange contracts.Mainly due to the payment of prior

Employee benefits payable 181681826.43 491740918.10 -63.05%

year's annual performance bonuses.Mainly due to the implementation of

profit distribution plans by non-

Dividends payable 351946018.88 14017248.88 2410.81% wholly owned subsidiaries resulting

in an increase in dividends payable in

the current period.Mainly due to the repayment of long-

Non-current liabilities due

86124458.61 373229691.10 -76.92% term borrowings maturing within one

within one year

year.Mainly due to the adjustment of the

liability structure of subsidiaries

Long-term borrowings 980924622.85 1572266599.04 -37.61%

replacing long-term borrowings with

short-term borrowings.Mainly due to changes in differences

on translation of foreign currency

Other comprehensive income -182894061.28 -134669133.15 N/A

financial statements caused by

exchange rate fluctuations.Income Statement Current Period Same Period Last Year Change Explanation

3 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Mainly due to the decrease in deposit

Financial costs -14210786.86 -85689883.97 N/A interest income and the increase in

exchange losses in the current period.Mainly due to the decrease in

Other income 23211325.19 52547543.01 -55.83% government grants received in the

current period.Mainly due to changes in profit or loss

Investment income 49030749.99 16135173.10 203.87%

of associated companies invested in.Mainly due to market value

Gains/losses from changes in

-17658162.33 1709488.73 -1132.95% fluctuations of held securities

fair value

investments.Mainly due to the decrease in accounts

receivable and the corresponding

Credit impairment losses 659057.55 -8180086.41 N/A

reduction in expected credit

impairment losses.Mainly due to the decrease in

Asset impairment losses -721485.11 -6355971.69 N/A inventory impairment provisions

compared to the previous period.Mainly due to an increase in losses

Non-operating expenses 4525398.11 2065905.08 119.05% related to non-daily operating

activities.Mainly due to changes in differences

Net other comprehensive on translation of foreign currency

-70533335.93 -17888787.66 N/A

income after tax financial statements caused by

exchange rate fluctuations.Cash Flow Statement Current Period Same Period Last Year Change Explanation

Mainly due to the increase in

Net cash flows from investing

-1014166594.53 -260760843.96 N/A investment payments compared to the

activities

previous period.Mainly due to exchange rate

Effect of exchange rate

fluctuations resulting in increased

changes on cash and cash -99036350.12 -18521599.72 N/A

exchange losses on foreign currency

equivalents

funds held.II. SHAREHOLDERS

(I) Total Number of Holders of Ordinary Shares and Number of Holders of Preferred Shares with Restored

Voting Rights and Shareholdings of Top 10 Shareholders

Unit: shares

Total number of holders of ordinary Total number of holders of preferred

shares as of the end of the Reporting 76018 shares with restored voting rights as of the 0

Period end of the Reporting Period (if any)

Shareholdings of the top 10 shareholders（excluding shares lent through refinancing business）

4 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Pledge mark or lock-up

Number of

Nature of Number of Percentage shares held

Name of shareholder

shareholder shares held (%) with selling Share

restrictions Number status

Domestic non-

Shenzhen Baiyeyuan Investment Co. Ltd.state-owned 895653653 48.96 0 No

(深圳市百业源投资有限公司)

legal person

Foreign legal

Might Seasons Limited 35929699 1.96 0 Unknown

person

Hong Kong Securities Clearing Company

Unknown 35743723 1.95 0 Unknown

Limited

Domestic

Zhang Yongliang 17542000 0.96 0 Unknown

natural person

Bank of Shanghai Co. Ltd.－Yinhua CSI

Innovative Drug Industry Trading Open- Unknown 16515220 0.90 0 Unknown

end Index Securities Investment Fund

Rui Life Insurance Co. Ltd. -Own fund Unknown 12739218 0.70 0 Unknown

CPIC Fund -China Pacific Life Insurance

Co. Ltd. -with-profit insurance-CPIC

Fund China Pacific Life Equity Relative Unknown 9972400 0.55 0 Unknown

Income (Guaranteed Dividend) single

asset management plan

Bank of China – GF CSI Innovative Drug

Unknown 9762638 0.53 0 Unknown

Industry ETF

Joincare Pharmaceutical Group Industry

Co. Ltd. — the Third Phase Ownership

Scheme under Medium to Long-term Others 9370400 0.51 0 No

Business Partner Share Ownership

Scheme

Zhongtai Securities Co. Ltd. – China

Unknown 8100400 0.44 0 Unknown

AMC CSI Free Cash Flow ETF

Shareholdings of the top 10 shareholders without selling restrictions（excluding shares lent through refinancing business）

Number of tradable shares Class and number of shares

Name of shareholder held without selling

Class of shares Number

restrictions

Shenzhen Baiyeyuan Investment Co. Ltd. (深圳市百业源 Ordinary shares

895653653895653653

投资有限公司) denominated in Renminbi

Ordinary shares

Might Seasons Limited 35929699 35929699

denominated in Renminbi

Ordinary shares

Hong Kong Securities Clearing Company Limited 35743723 35743723

denominated in Renminbi

Ordinary shares

Zhang Yongliang 17542000 17542000

denominated in Renminbi

Bank of Shanghai Co. Ltd.－Yinhua CSI Innovative Drug

Ordinary shares

Industry Trading Open-end Index Securities Investment 16515220 16515220

denominated in Renminbi

Fund

Ordinary shares

Rui Life Insurance Co. Ltd. -Own fund 12739218 12739218

denominated in Renminbi

CPIC Fund -China Pacific Life Insurance Co. Ltd. -with-

profit insurance-CPIC Fund China Pacific Life Equity Ordinary shares

99724009972400

Relative Income (Guaranteed Dividend) single asset denominated in Renminbi

management plan

Ordinary shares

Bank of China – GF CSI Innovative Drug Industry ETF 9762638 9762638

denominated in Renminbi

Joincare Pharmaceutical Group Industry Co. Ltd. — the

Ordinary shares

Third Phase Ownership Scheme under Medium to Long- 9370400 9370400

denominated in Renminbi

term Business Partner Share Ownership Scheme

Zhongtai Securities Co. Ltd. – China AMC CSI Free Cash Ordinary shares

81004008100400

Flow ETF denominated in Renminbi

5 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

There was no connection or acting-in-concert relationship between Shenzhen

Description of connection or acting-in-concert relationship Baiyeyuan Investment Co. Ltd. a controlling shareholder of the Company

of the above shareholders and other shareholders; whether there is connection or acting-in-concert

relationship among other shareholders is unknown.Description of the participation of the top 10 shareholders

and the top 10 shareholders without selling restrictions in Shareholder Zhang Yongliang holds 16500000 shares of the Company

margin financing and securities lending and refinancing through a credit and guarantee account.business (if any)

Participation of shareholders holding over 5% the top 10 shareholders and the top 10 shareholders

without selling restriction in securities lending transactions of refinancing business

□Applicable √N/A

Changes in the top 10 shareholders and the top 10 shareholders without selling restriction due to

securities lending/returning transactions of refinancing business compared to the previous period

□Applicable √N/A

III. OTHER REMINDERS

Other important information regarding the Company’s operations during the Reporting Period to which

investors should be reminded to pay attention.□Applicable √N/A

IV. QUARTERLY FINANCIAL STATEMENTS

(I) Audit Opinion

□Applicable √N/A

(II) Financial Statements

6 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Consolidated Balance Sheet

31 March 2026

Prepared by: Joincare Pharmaceutical Group Industry Co. Ltd.Unit: Yuan Currency: RMB Audit status: Unaudited

Item 31 March 2026 31 December 2025

Current assets:

Cash and cash equivalents 12868686284.47 13610715754.64

Financial assets held for trading 1045630595.51 1694102766.69

Notes receivable 1505357504.00 1636435183.16

Accounts receivable 2769059544.58 2722328581.17

Receivables financing

Prepayments 238015225.74 202964890.16

Other receivables 55399277.61 69355886.15

In which: Interests receivable

Dividends receivable

Inventories 2126886598.33 2213802715.08

Contract assets

Assets held-for-sale

Non-current assets due within one year 767206487.07 880840324.51

Other current assets 774262545.86 129622238.09

Total current assets 22150504063.17 23160168339.65

Non-current assets:

Debt investment

Other debt investment

Long-term receivables

Long-term equity investment 1478200827.63 1483192139.93

Other equity instrument investments 2323327871.47 990428693.50

Other non-current financial assets

Investment properties 15066225.28 15276446.14

Fixed assets 5328362413.40 5421615752.18

Construction in progress 664273287.83 615348388.91

Productive biological assets

Oil and gas assets

Right-of-use assets 43623168.16 43784500.37

Intangible assets 860991449.09 885697302.13

Development expenditures 371462003.29 364875894.36

Goodwill 636339503.82 636339503.82

Long-term deferred expenses 316265661.41 314844828.54

Deferred income tax assets 810554668.00 822667725.40

Other non-current assets 478327602.28 660059793.71

Total non-current assets 13326794681.66 12254130968.99

Total assets 35477298744.83 35414299308.64

Current liabilities:

Short-term loans 2817316268.37 2240000000.00

Financial liabilities held for trading 950782.80 487431.05

Notes payable 1223285819.22 1295877244.31

Accounts payable 658154090.79 691432568.22

Receipts in advance

Contract liabilities 105466411.34 121567789.34

Employee benefits payable 181681826.43 491740918.10

Taxes payable 284046850.77 240737007.47

Other payables 3993061181.00 3392845948.69

In which: Interests payable

Dividends payable 351946018.88 14017248.88

7 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Liabilities held-for-sale

Non-current liabilities due within one year 86124458.61 373229691.10

Other current liabilities 5896788.45 7996328.84

Total current liabilities 9355984477.78 8855914927.12

Non-current liabilities:

Long-term loans 980924622.85 1572266599.04

Bonds payable

Lease liabilities 21780660.17 21905133.24

Long-term payables

Long-term payroll payable

Estimated liabilities

Deferred income 320480802.61 327844468.42

Deferred income tax liabilities 268544369.24 268219857.78

Other non-current liabilities

Total non-current liabilities 1591730454.87 2190236058.48

Total liabilities 10947714932.65 11046150985.60

Owner's equity (or shareholder's equity):

Paid-in capital 1829453386.00 1829453386.00

Other equity instruments

In which: Preferred shares

Perpetual debts

Capital reserve 1206889611.84 1142268958.89

Less: Treasury shares

Other comprehensive income -182894061.28 -134669133.15

Special reserve

Surplus reserve 940060474.71 940060474.71

Undistributed profits 11817424822.29 11402453599.97

Total owner's equity (or shareholder's equity)

15610934233.5615179567286.42

attributable to the parent

Minority shareholder's equity 8918649578.62 9188581036.62

Total owner's equity (or shareholder's equity) 24529583812.18 24368148323.04

Total liabilities and owner's equity (or

35477298744.8335414299308.64

shareholder's equity)

Person-in-charge of the Person-in-charge of the Person-in-charge of the

Company: Zhu Baoguo Company's accounting work: accounting department:

Qiu Qingfeng Guo Chenlu

8 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Consolidated Income Statement

From January to March 2026

Prepared by: Joincare Pharmaceutical Group Industry Co. Ltd.Unit: Yuan Currency: RMB Audit status: Unaudited

First quarter First quarter

Item (January to March) (January to March)

for 2026 for 2025

I. Total revenues 3721497528.96 4089279479.56

In which: Operating revenues 3721497528.96 4089279479.56

II. Total operating costs 2735585338.28 2993038861.04

In which: Operating costs 1369914508.98 1558416030.26

Operating tax and surcharges 47429371.86 48498322.81

Selling expenses 896557271.61 950570599.38

Administrative expenses 202193332.67 220886435.03

R&D expenses 233701640.02 300357357.53

Financial costs -14210786.86 -85689883.97

In which: Interest expenses 15498377.11 22898186.53

Interest income 64901627.44 110971266.84

Add: Other income 23211325.19 52547543.01

Income from investments (loss is

49030749.9916135173.10

indicated by“-”)

In which: Income from investments

38163292.5719815523.47

in associates and joint ventures

Gains from derecognition of financial

assets at amortized cost

Gains from net exposure hedges (loss

is indicated by“-”)

Gains from changes in fair values

-17658162.331709488.73

(loss is indicated by“-”)

Losses of credit impairment (loss is

659057.55-8180086.41

indicated by“-”)

Assets impairment loss (loss is

-721485.11-6355971.69

indicated by“-”)

Gains from disposal of assets (loss is

-64051.92-86129.77

indicated by“-”)

III. Operating profit (loss is indicated

1040369624.051152010635.49

by“-”)

Add: Non-operating income 993665.62 1173822.28

Less: Non-operating expenses 4525398.11 2065905.08

IV. Total profit (loss is indicated by“-”) 1036837891.56 1151118552.69

Less: Income tax expenses 153387190.67 189994779.68

V. Net profit (loss is indicated by“-”) 883450700.89 961123773.01

(I) Classified by business continuity

1. Net profit from ongoing operation

883450700.89961123773.01

(loss is indicated by“-”)

2. Net profit from discontinuing

operation (loss is indicated by“-”)

1.Net profit attributable to shareholders

414971222.32435788328.07

of the parent (loss is indicated by“-”)

2.Profit and loss of minority

468479478.57525335444.94

shareholders (loss is indicated by“-”)

9 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

VI. Other comprehensive income net of

-70533335.93-17888787.66

tax

(I) Other comprehensive income

attributable to owners of the parent net -48224928.13 -10275802.84

of tax

1. Other comprehensive income that

-6371630.07-397008.63

cannot be reclassified into profit or loss

(1) Changes from remeasurement of

defined benefit plans

(2) Other comprehensive income that

cannot be reclassified into profit or loss

under the equity method

(3) Changes in fair value of

-6371630.07-397008.63

investments in other equity instruments

(4) Changes in fair value of the

enterprise's own credit risks

2. Other comprehensive income that

-41853298.06-9878794.21

will be reclassified into profit or loss

(1) Other comprehensive income that

can be reclassified into profit or loss under -6070.02

the equity method

(2) Changes in fair value of other

debt investments

(3) Amount of financial assets

reclassified into other comprehensive

income

(4) Provision for credit impairment of

other debt investments

(5) Reserve for cash flow hedges

(6) Exchange translation differences

on financial statements denominated in -41847228.04 -9878794.21

foreign currencies

(7) Others

(II) Other comprehensive income

attributable to minority shareholders net -22308407.80 -7612984.82

of tax

VII. Total comprehensive income 812917364.96 943234985.35

(I) Total comprehensive income

attributable to owners of the parent 366746294.19 425512525.23

company

(II) Total comprehensive income

446171070.77517722460.12

attributable to minority shareholders

Ⅷ. Earnings per share

(I) Basic earnings per share (RMB/share) 0.23 0.23

(II) Diluted earnings per share

0.230.23

(RMB/share)

Person-in-charge of the Person-in-charge of the Person-in-charge of the

Company: Zhu Baoguo Company's accounting work: accounting department:

Qiu Qingfeng Guo Chenlu

10 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

Consolidated Cash Flow Statement

From January to March 2026

Prepared by: Joincare Pharmaceutical Group Industry Co. Ltd.Unit: Yuan Currency: RMB Audit status: Unaudited

First quarter First quarter

Item (January to March) (January to March)

for 2026 for 2025

I. Cash flow from operating activities:

Cash received from sales of goods and rendering

4061816331.564229884975.57

of services

Tax refunds received 48019605.58 53920695.28

Other cash received related to operating activities 101003415.88 144492768.78

Subtotal of cash inflow from operating

4210839353.024428298439.63

activities

Cash paid for goods and services 1094741553.68 1134678823.97

Cash paid to and on behalf of employees 914021168.65 939376195.58

Payments of all types of taxes 373841059.80 479343979.71

Other cash paid related to operating activities 913587428.07 1064959931.17

Subtotal of cash outflow in operating activities 3296191210.20 3618358930.43

Net cash flow from operating activities 914648142.82 809939509.20

II. Cash flow from investing activities:

Cash received from disposal of investment 3628074995.06 99205834.44

Cash received from investment income 9065550.16 10049044.41

Net cash received from disposal of fixed assets

5180656.09400588.00

intangible assets and other long-term assets

Net cash received from disposal of subsidiaries

51450000.00

and other business units

Other cash received related to investing activities 6453630.00

Subtotal of cash inflow from investing

3693771201.31116109096.85

activities

Cash paid for purchase and construction of fixed

171793795.95187092618.94

assets intangible assets and other long-term assets

Cash paid for investment 4533897230.45 185644515.80

Net cash paid for acquisition of subsidiaries and

other business units

Other cash paid related to investing activities 2246769.44 4132806.07

Subtotal of cash outflow in investing activities 4707937795.84 376869940.81

Net cash flow from investing activities -1014166594.53 -260760843.96

III. Cash flow from financing activities:

Cash received from capital contribution 15000000.00 3350000.00

In which: Cash received from investment by

15000000.003350000.00

minority interests of subsidiaries

Cash received from borrowings 1776432252.90 782140000.00

Other cash received related to financing activities

Subtotal of cash inflow from financing

1791432252.90785490000.00

activities

Cash repayments of amounts borrowed 2079462186.24 766740000.00

Cash payments for interest expenses and

347691704.0215598295.99

distribution of dividends or profits

In which: Dividends and profit paid minority

331971230.0044153.75

interests of subsidiaries

Other cash payments related to financing

10436003.29517703849.75

activities

Subtotal of cash outflow in financing activities 2437589893.55 1300042145.74

Net cash flow from financing activities -646157640.65 -514552145.74

11 / 12Joincare Pharmaceutical Group Industry Co. Ltd. 2026 First Quarterly Report

IV. Effect of exchange rate fluctuations on cash

-99036350.12-18521599.72

and cash equivalents

V. Net increase in cash and cash equivalents -844712442.48 16104919.78

Add: Opening balance of cash and cash

11745695094.9514842645678.32

equivalents

VI. Closing balance of cash and cash equivalents 10900982652.47 14858750598.10

Person-in-charge of the Person-in-charge of the Person-in-charge of the

Company: Zhu Baoguo Company's accounting work: accounting department:

Qiu Qingfeng Guo Chenlu

(Ⅲ) Implementation of new accounting standards or interpretations of standards for the first time from

2026 involves adjustments to the financial statements at the beginning of the year

□Applicable √N/A

Hereby the announcement is made.Joincare Pharmaceutical Group Industry Co. Ltd.

24 April 2026