LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
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 hereof
contains any false records misleading representations or major omissions and are legally
liable for authenticity accuracy and integrity of the contents hereof.Important Notes
The Board of Directors the directors and officers of the Company warrant that the contents of this
Quarterly Report are true accurate and complete free from false records misleading statements or
major 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 accounting
department (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
Increase/decrease
Current reporting Same period of
Item on a year-on-year
period previous year
basis (%)
Operating income 5481296988 5435220089 0.85
Total profit 385806407 366228360 5.35
Net profits attributable to
shareholders of the listed 263855661 250636310 5.27
company
Net profits attributable to
shareholders of the listed
company net of non- 260493540 243498304 6.98
recurring profit and loss
Net cash flows from
operating activities 858596944 804266875 6.76
1 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Basic EPS (RMB/share) 0.35 0.33 5.36
Diluted EPS (RMB/share) 0.35 0.33 5.36
Weighted average return on
3.91 3.74 Increase by 0.17%
equity (%)
Increase/decrease
End of the reporting End of the previous
on a year-on-year
period year
basis (%)
Total assets 19907236683 19845403504 0.31
Owner's equity attributable
to shareholders of the listed 6799247646 6535391985 4.04
company
(ii)Non-recurring profit or loss items and amounts
√Applicable □Not Applicable
Unit: Yuan Currency: RMB
Amount of the current
Non-recurring profit or loss item Explanation
period
Gains or losses from the disposal of non-current
assets including the reversal of any previously -1087616
provided for asset impairment
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 6902581
provisions are enjoyed according to established
standards and have continuous impacts on the
Company's profit or loss
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- 6843
financial enterprises as well as gains or losses
from the disposal of financial assets and
liabilities
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
2 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
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
-431470
than the items listed above
Other profit or loss items that conform to the
definition of non-recurring profit or loss
Less: impact of income tax 533417
Influence of minority equity (after-tax) 1494800
Total 3362121
The non-presented items defined as non-recurring profit or loss items at significant amount by the
Company according to the Explanatory Announcement No. 1 on Information Disclosure of Companies
Issuing Securities to the Public - Non-recurring Profit or Loss as well as he non-recurring profit or loss
items listed in Explanatory Announcement No. 1 on Information Disclosure of Companies Issuing
Securities 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
3 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
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
Total number of preferred
ordinary
shareholders (shareholders) whose
shareholders at the 64179 0
voting rights have been restored at
end of the reporting
the end of the reporting period
period
Shareholding of top 10 shareholders (excluding shares lent through securities refinance)
Number Pledge mark or
Share
of freeze
Shareholder Number of holdin
Name of shareholder restricted
nature shares held g ratio
shares
(%) Share
held Quantity status
Domestic
LBX Pharmaceutical Non-State- Pledg
18045347523.780114140000
Group Co. Ltd. Owned Legal ed
Person
Janstar Investment Foreign legal Pledg
16801303522.140134410428
Limited person ed
Domestic
Chen Xiulan natural 13565698 1.79 0 None 0
person
Domestic
Shi Zhan natural 10018811 1.32 0 None 0
person
Hong Kong
Foreign legal
Securities Clearing 8361323 1.10 0 None 0
person
Company Limited
Domestic
Linzhi Tencent Non-State-
7391046 0.97 0 None 0
Technology Co. Ltd. Owned Legal
Person
Zhongtai Securities
Co. Ltd. - Huaxia
Guozheng FCF
Others 5123900 0.68 0 None 0
Traded Open Index
Securities
Investment Funds
China Galaxy
Others 2206300 0.29 0 None 0
Securities Co. Ltd
Domestic
Dai Lizhong natural 1649778 0.22 0 None 0
person
Industrial and
Commercial Bank of
China Limited -
Rongtong Health Others 1500000 0.20 0 None 0
Industry Flexible
Hybrid Securities
Investment Fund
4 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Shareholding of top 10 non-restricted shareholders (excluding shares lent through securities
refinance)
Type and number of shares
Name of shareholder Number of freely tradable shares held
Share type Quantity
LBX Pharmaceutical RMB ordinary
180453475180453475
Group Co. Ltd. shares
Janstar Investment RMB ordinary
168013035168013035
Limited shares
RMB ordinary
Chen Xiulan 13565698 13565698
shares
RMB ordinary
Shi Zhan 10018811 10018811
shares
Hong Kong
RMB ordinary
Securities Clearing 8361323 8361323
shares
Company Limited
Linzhi Tencent RMB ordinary
73910467391046
Technology Co. Ltd. shares
Zhongtai Securities
Co. Ltd. - Huaxia
Guozheng FCF RMB ordinary
51239005123900
Traded Open Index shares
Securities
Investment Funds
China Galaxy RMB ordinary
22063002206300
Securities Co. Ltd shares
RMB ordinary
Dai Lizhong 1649778 1649778
shares
Industrial and
Commercial Bank of
China Limited -
RMB ordinary
Rongtong Health 1500000 1500000
shares
Industry Flexible
Hybrid Securities
Investment Fund
Description of the The actual controllers of LBX Pharmaceutical Group Co. Ltd. are Mr. Xie
relationship or Zilong and Ms. Chen Xiulan (couple). Apart from this the Company is
concerted action of unaware whether other relationships or concerted actions as defined in the
the above Administrative Measures for the Acquisition of Listed Companies exist
shareholders among the other shareholders mentioned above.Explanation on the
participation of top
10 shareholders and
top 10 non-restricted
shareholders in Dai Lizhong holds 1649778 shares of the Company through a credit
margin financing account.securities lending
and securities
refinance business (if
any)
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
5 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Changes in top 10 shareholders and top 10 non-restricted circulating shareholders compared to the
previous period due to lending/return reasons in securities refinance
□Applicable √Not Applicable
III. Other Reminders
Other important information concerning the Company's operating situation during the reporting period
that 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 15001 covering 18 provincial
markets and more than 150 prefecture-level cities and above including 9622 direct-sale stores and 5379
franchise stores. The stores not only cover core city business districts but also penetrate into community
and county markets demonstrating prominent advantages in scale effect and network synergy.Continuously focus on advantageous and lower-tier markets and strengthen localized operation
capabilities. As of March 31 2026 the stores located in advantageous provinces and key cities accounted
for 90%. 69% of the new stores in the first quarter of 2026 were concentrated in advantageous provinces
and 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 for
84%.
2. Eco-empowered franchise alliance asset-light expansion
(1) Improve both quality and efficiency of the franchise business and highlight the advantages of
asset-light expansion
Deepen asset-light operations and optimize franchise structure. For single stores the replicability of
the profit model was strengthened through refined location selection standardized procedures full-cycle
assistance and digital empowerment. For projects coordinate regional resources to achieve multi-store
synergy 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 business
was steady and the distribution sales of the franchise business in the first quarter of 2026 approximately
amounted 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 provinces
and cities and there had been 22768 alliance stores (not included in the total number of stores). In the
first quarter of 2026 the alliance distribution sales amounted to RMB 72 million. The Company listed
high-quality alliance enterprises as potential M&A targets and accelerated the planning of equity
participation. At the end of the first quarter of 2026 the Company had cumulatively owned 233
6 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
shareholding partners corresponding to a retail scale of RMB 13.43 billion and 11425 stores which
accounted for 42% of all partners. Sufficient reserves of high-quality M&A targets were made.
3. "Professional" + "warm" services and over 10000 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 diseases
and follow-up on return visits. They highlight service process and customer experience. Through
systematic training the Company has promoted the comprehensive transformation of employees from
psychological cognition to service capability. It takes customer needs as the starting point and foothold of
decision-making and operation and wins long-term trust through dedicated services to realize the
transformation 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 system
Promote the transformation of chronic disease service model from being "drug-centered" to be "user-
centered". Firstly 10000 stores across the country are equipped with self-testing equipment for chronic
diseases covering five core indicators: blood sugar blood pressure blood uric acid blood lipids and heart
rate. Secondly maintain dynamic electronic health records with the aid of digital tools such as "AI-based
Blood Pressure and Blood Sugar Interpretation Report". Thirdly the stores are equipped with a
pharmaceutical service teams where licensed pharmacists are the core members to improve professional
services by "promoting learning through competitions". By the end of the first quarter the Company had
maintained health records for 23.28 million members with chronic diseases provided health self-testing
services 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 in
both the membership scale and the value of the whole lifecycle through refined operation and equity
upgrading. 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 number
of newly registered members during the reporting period was 1.91 million accounting for 74.1% of the
membership sales.
4. Leading medical insurance qualification and professional customer redirection for
undertaking outflow prescriptions
(1) Continuously strengthening professional attributes to attract customers and undertake outflow
prescriptions
Build professional pharmacies up to high standards and give priority to undertaking outflow
prescriptions. During the reporting period the Company focused on strengthening its professional service
capabilities and actively showed care for breast cancer skin diseases leukemia lung cancer hemophilia
and other diseases. As of the end of the reporting period the Company had owned 13492 stores with
medical insurance qualification including 8965 direct-sale stores and 4527 franchised stores with the
qualification and among the direct-sale stores the stores with medical insurance qualification accounted
7 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
for 93.17%. The Company owned 4514 overall qualified stores. A total of 1745 stores of the Company
obtained the designated qualification for "outpatient chronic diseases" and 318 stores held dual-channel
qualifications.
(2) Improving quality and efficiency of medical insurance business and laying a solid foundation for
compliance operation
Firstly optimize prescription settlement procedures and improve the performance of the settlement
system. In the first quarter the Group implemented unified medical insurance-based prescription
procedures 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 strengthen
the compliance system. Improve standard management procedures adapted to the whole country and build
a sound regulatory response system. Thirdly improve the drug traceability management capability to truly
realize 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 the
Company 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 agent
development 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 focusing
on 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 strategic
suggestions are generated to promote refined and intelligent operations. For the supply chain we have
established a demand warning system optimized the intelligent restocking model improved the accuracy
of 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 the
coordination of commercial procurement improve the supply chain response efficiency and satisfaction
with goods and lower the out-of-stock rate. Secondly accurately match the market demand through the
refined operation of the business districts. Thirdly AI algorithms empower human-machine collaboration
to continuously optimize performance efficiency and customer experience. In the first quarter of 2026 the
total 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 12321 stores
with O2O delivery services including 764 stores operating for 24 hours a day and the service system was
further improved.
6. Pharmaceutical retail companies with courage to innovate
(1) Deepening the reform of commercial procurement system and achieving stable results in cost
reduction and efficiency enhancement
8 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Firstly take core products as the strategic anchor points of commercial procurement and concentrate
resources on building a cost-effective and competitive commodity matrix. As at the end of the reporting
period the Company had operated approximately 22800 SKUs (product specifications) and the days
sales 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 ecology
that 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 strategies
and build differentiated competitive advantages. Fourthly strictly implement product replacement focus
on improving the efficiency of single products and optimize the structure of private brands. During the
reporting 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 business
growth
The Company cooperates with insurance companies Internet hospitals pharmaceutical companies
and other supply and demand parties to provide health management solutions and comprehensive drug
protection services for commercial health insurance customers. As at the end of the reporting period more
than 12000 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 promoted
commercial health insurance products such as Huiminbao outpatient insurance accident health insurance
and expired drug replacement insurance so as to attract more customers to participate in commercial
insurance plans and tap into business growth.
(3) Commencing "implementation of the talent management plan" to consolidate organizational
capabilities
Firstly the talent management system was completely launched and the talent management was
upgraded from "system construction" to "deep system cultivation". In the first quarter of 2026 202 core
cadres were subject to job rotation. Secondly the construction of talent echelons was consolidated and
reserve talents were cultivated for core cadres through the mode of "substitution and rotation". In the first
quarter about 30 reserve talents were selected for four key positions and about 10 people were trained by
rotation.
(4) Making efforts for brand innovation and communication to reach target customer groups in
multiple dimensions
Reach target customer groups in multiple dimensions to enhance brand awareness and reputation. In
the first quarter the total omni-channel exposure of the Company's brands exceeded 1 billion. The
Company 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 produced
high-quality brand promotion videos with more than 150000 likes and retweets. In the first quarter of
2026 We Media Matrix brand exposure exceeded 62 million times.
(II) Explanation of Operating Data
9 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
1. Main business situation by industry
Increase or Increase or
decrease in decrease in YoY change
Gross operating operating in gross
Operating Operating profit income costs profit
By industry
income costs margin compared compared margin
(%) with the with the (percentage
previous year previous year points)
(%)(%)
Retail 4523867860 2823044207 37.60 1.27 2.59 -0.81
Franchise
alliance and 920248527 796309835 13.47 1.86 2.05 -0.16
distribution
Others 37180601 25230607 32.14 -42.37 -41.58 -0.92
Total 5481296988 3644584649 33.51 0.85 1.94 -0.71
Note: The decrease in the Company's gross profit margin was mainly attributable to the increase in
the proportion of DTP sales resulting from the penetration of DTP (New Special Drug) policies into
lower-tier markets and the acceleration of new product approvals and the increase in the proportion of
online retail sales resulting from the growth of online retail sales. The gross profit margin of offline
retail net of DTP and online retail basically remained the same on a year-on-year basis.
2. Main business situation by product
Increase or Increase or
decrease in decrease in YoY change
Gross operating operating in gross
Operating Operating profit income costs profit
By products
income costs margin compared compared margin
(%) with the with the (percentage
previous previous points)
year (%) year (%)
Chinese and
western patent 4393809569 3053405214 30.51 0.52 2.53 -1.36
medicine
Chinese
43422258321734427249.959.192.643.19
medicine
Non-
65326483637383516342.77-1.97-3.000.61
pharmaceuticals
Total 5481296988 3644584649 33.51 0.85 1.94 -0.71
3. Main business situation by region
Increase or Increase or
YoY
decrease in decrease in
change in
Gross operating operating
gross
Operating Operating profit income costs
By Region profit
income costs margin compared compared
margin
(%) with the with the
(percentag
previous previous
e points)
year (%) year (%)
Central
2366409987153177939935.273.853.96-0.07
China
10 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
South
24612944615973846535.10-5.33-6.480.80
China
North
59864767542153956829.583.236.36-2.07
China
East China 1389828205 950989754 31.58 -4.16 -2.49 -1.17
Northwest
88028167558053746334.051.603.78-1.38
China
Total 5481296988 3644584649 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 15001 stores including 9622 direct-sale stores
and 5379 franchise stores. The overall distribution of the direct-sale stores during the reporting period is
as follows:
Unit: Store
January - March 2026
Region End of 2025
Net Increase Closing
Central China 3473 -59 3414
South China 544 -1 543
North China 1467 -19 1448
East China 2798 -19 2779
Northwest China 1450 -12 1438
Total 9732 -110 9622
(2) The operating efficiency of the Company's directly-operated stores is as follows:
Average daily sales
Store type (classified by Number of stores Store operating
per square meter
average daily sales) (unit) area (m2)
(Yuan/m2)
Flagship store 103 42179 212.2
Large store 254 45875 111.4
Small-medium mature store 9265 914316 38.8
Total 9622 1002370 49.4
Note: The Company's revenue per available square meter increased by RMB 1.4/m2 compared with
the first quarter of 2025 and by RMB 1/m2 compared with 2025 indicating that the operating quality of
the Company's stores was gradually improved as a whole.
(3) The situation of directly-operated stores obtaining medical insurance qualifications is as follows:
11 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
During the reporting period 8965 of the Company's directly-operated stores obtained various
"designated retail pharmacy for medical insurance" qualifications with medical insurance stores
accounting for 93.17%.Number of stores with
Total Number of Proportion of total
Region various medical insurance
Stores stores
qualifications
Central China 3414 3293 96.46%
South China 543 539 99.26%
North China 1448 1241 85.70%
East China 2779 2735 98.42%
Northwest China 1438 1157 80.46%
Total 9622 8965 93.17%
IV. Quarterly Financial Statements
(i)Type of Audit Opinion
□Applicable √Not Applicable
(ii)Financial Statements
Consolidated Balance Sheet
March 31 2026
Prepared 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 2668574392 2358429285
Deposit reservation for balance
Funds lent
Trading financial assets
Derivative financial assets
Notes receivable 76492280 58033940
Accounts receivable 1988459862 2107724650
Accounts receivable financing 5612871 5612871
Prepayments 156940056 127750815
Premiums receivable
Reinsurance accounts receivable
Reserves for reinsurance contract
receivable
Other receivables 183273385 215188071
Of which: interest receivable
Dividends receivable
12 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Redemptory monetary capital for
sale
Inventories 3633610108 3652252469
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within
4862673241225587
one year
Other current assets 256399342 264435192
Total current assets 9017989028 8830652880
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 57743195 66161336
Long-term equity investments 82256455 81283270
Other equity instrument
3625292335768123
investments
Other non-current financial
69634966963496
assets
Investment property 240805064 242880980
Fixed assets 1319050353 1348308487
Construction in progress 22543608 1734300
Productive biological assets
Oil-and-gas assets
Right-of-use assets 1992642373 2049366982
Intangible assets 780081997 802566730
Including: Data resources
Development expenditures 22977031 14773607
Including: Data resources
Goodwill 5612990783 5612990783
Long-term deferred expenses 577012855 609448600
Deferred income tax assets 129396895 133973303
Other non-current assets 8530627 8530627
Total non-current assets 10889247655 11014750624
Total assets 19907236683 19845403504
Current liabilities:
Short-term loans 498193267 697299622
Borrowings from central bank
Funds borrowed
Trading financial liabilities
Derivative financial liabilities
13 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Notes payable 4986734658 5008269907
Accounts payable 1890505986 1746997615
Advances from customers 19126718 16853246
Contract liabilities 173320877 217575573
Financial assets sold for
repurchase
Deposits from customers and
other banks
Receiving from vicariously
traded securities
Receiving from vicariously sold
securities
Payroll payable 357999538 455209144
Taxes and dues payable 137060564 152684505
Other payables 592262404 626911001
Of which: Interest payable
Dividends payable
Service charges and
commissions payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within
13774463951227214169
one year
Other current liabilities 17000197 15196091
Total current liabilities 10049650604 10164210873
Non-current liabilities:
Reserves for insurance contracts
Long-term loans 1316087068 1434968318
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 1198766728 1204831000
Long-term payables
Long-term employee
compensation payable
Provisions
Deferred income 9640567 10556274
Deferred tax liabilities 34642127 34744543
Other non-current liabilities
Total non-current liabilities 2559136490 2685100135
Total liabilities 12608787094 12849311008
Total owner's equity (or shareholder's equity):
14 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Paid-in capital (or capital stock) 758890236 758890236
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 1694612672 1694612672
Less: Treasury stock
Other comprehensive income 15231092 15231092
Special reserve
Surplus reserve 350789036 350789036
General risk reserve
Undistributed profits 3979724610 3715868949
Total owner's equity (or
shareholder's equity) attributable to 6799247646 6535391985
parent company
Minority equity 499201943 460700511
Total owner's equity (or
72984495896996092496
shareholder's equity)
Total liabilities and owner's
1990723668319845403504
equity (or shareholder's equity)
Principal of the Company: Xie Zilong Person in Charge of Accounting Work: Chen Lishan Person
in Charge of Accounting Department: Shi Lei
Consolidated Income Statement
January - March 2026
Prepared 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 5481296988 5435220089
Of which: Operating income 5481296988 5435220089
Interest income
Premium earned
Fee and commission income
II. Total operating costs 5110519821 5088365773
Including: operating costs 3644584649 3575169042
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 20339349 19606254
15 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Selling expenses 1137949946 1178098269
Administrative expenses 267567403 269319579
R&D expenses 12094832 8405207
Financial expenses 27983642 37767422
Including: Interest expenses
Interest income
Add: Other income 15013661 16365873
Investment income (loss indicated
9800271710371
with "-")
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
221413-172263
indicated with "-")
Asset impairment loss (loss
333224144065
indicated with "-")
Gains from disposal of assets
-1087616-757855
(losses indicated with "-")
III. Operating profits (loss indicated with "-
386237876364144507
")
Add: non-operating income 3434572 4853057
Less: non-operating expenses 3866041 2769204
IV. Profit before tax (Total loss indicated
385806407366228360
with "-" )
Less: income tax expenses 83449314 78503678
V. Net Profit (Net loss indicated with "-") 302357093 287724682
(I) By operating continuity
1. Net profit from ongoing operations
302357093287724682
(net loss indicated with "-")
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 263855661 250636310
indicated with “-”)
16 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
2. Minority interest (net loss indicated
3850143237088372
with "-")
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 302357093 287724682
(I) Total comprehensive income
attributable to owners of the parent 263855661 250636310
company
(II) Total comprehensive income
3850143237088372
attributable to minority shareholders
17 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
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 the
net profit realized by the combined party before the combination was: RMB 0 and the net profit realized
by 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 2026
Prepared 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
63406177965962689738
and rendering of services
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 422338 1630258
Other cash received relating to
141666227164568300
operating activities
Subtotal of cash inflows of
64827063616128888296
operating activities
Cash paid for purchasing goods and
41695887033831806465
receiving services
18 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
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 923136396 957930913
Various tax payments 247985728 231130419
Other cash paid relating to operating
283398590303753624
activities
Subtotal of cash outflows from
56241094175324621421
operating activities
Net cash flows from operating
858596944804266875
activities
II. Cash flows from investing activities:
Cash received from return on
130303
investments
Cash received from investment
419018314173
income
Net cash received from disposal of
fixed assets intangible assets and other 53355 6010837
long-term assets
Net cash recovered from disposal of
7362626208977
subsidies and other operating units
Other cash received relating to
investing activities
Subtotal of cash inflows of
79653026533987
investing activities
Cash paid for acquisition and
construction of fixed assets intangible 37165632 56789500
assets and other long-term assets
Cash paid for investment 5040 412961
Net increase in pledge loans
Net cash paid for acquisition of
202500
subsidiaries and other business entities
Other cash paid relating to investing
550000
activities
Subtotal of cash outflows from
3717067257954961
investing activities
19 / 20LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Net cash flows from investing
-29205370-51420974
activities
III. Cash flows from financing activities:
Cash received from capital
contributions
Including: cash received by
subsidiaries from minority shareholders
Cash received from loans 100000000 5590000
Other cash received related to
financing activities
Subtotal of cash inflows of
1000000005590000
financing activities
Cash paid for repayment of debts 221110278 460324535
Cash paid for distributing dividends
781256132694593
and profits or repaying interest
Including: dividends and profits paid
by subsidiaries to minority 23419644
shareholders
Other cash paid relating to financing
294714378314592760
activities
Subtotal of cash outflows from
523637217807611888
financing activities
Net cash flows from financing
-423637217-802021888
activities
IV. Effect of exchange rate changes
on cash and cash equivalents
V. Net increase in cash and cash
405754357-49175987
equivalents
Add: opening balance of cash and
1143841378986735653
cash equivalents
VI. Closing balance of cash and cash
1549595735937559666
equivalents
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
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