LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Stock Code: 603883 Stock Abbreviation: LBX
LBX Pharmacy Chain Joint Stock Company
(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 5,481,296,988 5,435,220,089 0.85
Total profit 385,806,407 366,228,360 5.35
Net profits attributable to
shareholders of the listed 263,855,661 250,636,310 5.27
company
Net profits attributable to
shareholders of the listed
company, net of non- 260,493,540 243,498,304 6.98
recurring profit and loss
Net cash flows from
operating activities 858,596,944 804,266,875 6.76
LBX 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
equity (%)
Increase/decrease
End of the reporting End of the previous
on a year-on-year
period year
basis (%)
Total assets 19,907,236,683 19,845,403,504 0.31
Owner's equity attributable
to shareholders of the listed 6,799,247,646 6,535,391,985 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 -1,087,616
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 6,902,581
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- 6,843
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
LBX 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
-431,470
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 533,417
Influence of minority equity (after-tax) 1,494,800
Total 3,362,121
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
LBX 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 64,179 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 freeze
of
Shareholder Number of holdin
Name of shareholder restricted
nature shares held g ratio
shares Share
(%) Quantity
held status
Domestic
LBX Pharmaceutical Non-State- Pledg
Group Co., Ltd. Owned Legal ed
Person
Janstar Investment Foreign legal Pledg
Limited person ed
Domestic
Chen Xiulan natural 13,565,698 1.79 0 None 0
person
Domestic
Shi Zhan natural 10,018,811 1.32 0 None 0
person
Hong Kong
Foreign legal
Securities Clearing 8,361,323 1.10 0 None 0
person
Company Limited
Domestic
Linzhi Tencent Non-State-
Technology Co., Ltd. Owned Legal
Person
Zhongtai Securities
Co., Ltd. - Huaxia
Guozheng FCF
Others 5,123,900 0.68 0 None 0
Traded Open Index
Securities
Investment Funds
China Galaxy
Others 2,206,300 0.29 0 None 0
Securities Co., Ltd
Domestic
Dai Lizhong natural 1,649,778 0.22 0 None 0
person
Industrial and
Commercial Bank of
China Limited -
Rongtong Health Others 1,500,000 0.20 0 None 0
Industry Flexible
Hybrid Securities
Investment Fund
LBX 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
Group Co., Ltd. shares
Janstar Investment RMB ordinary
Limited shares
RMB ordinary
Chen Xiulan 13,565,698 13,565,698
shares
RMB ordinary
Shi Zhan 10,018,811 10,018,811
shares
Hong Kong
RMB ordinary
Securities Clearing 8,361,323 8,361,323
shares
Company Limited
Linzhi Tencent RMB ordinary
Technology Co., Ltd. shares
Zhongtai Securities
Co., Ltd. - Huaxia
Guozheng FCF RMB ordinary
Traded Open Index shares
Securities
Investment Funds
China Galaxy RMB ordinary
Securities Co., Ltd shares
RMB ordinary
Dai Lizhong 1,649,778 1,649,778
shares
Industrial and
Commercial Bank of
China Limited -
RMB ordinary
Rongtong Health 1,500,000 1,500,000
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
top 10 non-restricted
shareholders in Dai Lizhong holds 1,649,778 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
LBX 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
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 15,001, covering 18 provincial
markets and more than 150 prefecture-level cities and above, including 9,622 direct-sale stores and 5,379
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
(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
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 22,768 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
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
shareholding partners, corresponding to a retail scale of RMB 13.43 billion, and 11,425 stores, which
accounted for 42% of all partners. Sufficient reserves of high-quality M&A targets were made.
(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, 10,000 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.
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 13,492 stores with
medical insurance qualification, including 8,965 direct-sale stores and 4,527 franchised stores with the
qualification, and among the direct-sale stores, the stores with medical insurance qualification accounted
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
for 93.17%. The Company owned 4,514 overall qualified stores. A total of 1,745 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.
(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 12,321 stores
with O2O delivery services, including 764 stores operating for 24 hours a day, and the service system was
further improved.
(1) Deepening the reform of commercial procurement system and achieving stable results in cost
reduction and efficiency enhancement
LBX 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 22,800 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
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 12,000 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 150,000 likes and retweets. In the first quarter of
(II) Explanation of Operating Data
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
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 4,523,867,860 2,823,044,207 37.60 1.27 2.59 -0.81
Franchise,
alliance, and 920,248,527 796,309,835 13.47 1.86 2.05 -0.16
distribution
Others 37,180,601 25,230,607 32.14 -42.37 -41.58 -0.92
Total 5,481,296,988 3,644,584,649 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.
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 4,393,809,569 3,053,405,214 30.51 0.52 2.53 -1.36
medicine
Chinese
medicine
Non-
pharmaceuticals
Total 5,481,296,988 3,644,584,649 33.51 0.85 1.94 -0.71
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
China
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
South
China
North
China
East China 1,389,828,205 950,989,754 31.58 -4.16 -2.49 -1.17
Northwest
China
Total 5,481,296,988 3,644,584,649 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.
(1) As of March 31, 2026, the Company had owned 15,001 stores, including 9,622 direct-sale stores
and 5,379 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 3,473 -59 3,414
South China 544 -1 543
North China 1,467 -19 1,448
East China 2,798 -19 2,779
Northwest China 1,450 -12 1,438
Total 9,732 -110 9,622
(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 42,179 212.2
Large store 254 45,875 111.4
Small-medium mature store 9,265 914,316 38.8
Total 9,622 1,002,370 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:
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
During the reporting period, 8,965 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 3,414 3,293 96.46%
South China 543 539 99.26%
North China 1,448 1,241 85.70%
East China 2,779 2,735 98.42%
Northwest China 1,438 1,157 80.46%
Total 9,622 8,965 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 2,668,574,392 2,358,429,285
Deposit reservation for balance
Funds lent
Trading financial assets
Derivative financial assets
Notes receivable 76,492,280 58,033,940
Accounts receivable 1,988,459,862 2,107,724,650
Accounts receivable financing 5,612,871 5,612,871
Prepayments 156,940,056 127,750,815
Premiums receivable
Reinsurance accounts receivable
Reserves for reinsurance contract
receivable
Other receivables 183,273,385 215,188,071
Of which: interest receivable
Dividends receivable
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Redemptory monetary capital for
sale
Inventories 3,633,610,108 3,652,252,469
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within
one year
Other current assets 256,399,342 264,435,192
Total current assets 9,017,989,028 8,830,652,880
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables 57,743,195 66,161,336
Long-term equity investments 82,256,455 81,283,270
Other equity instrument
investments
Other non-current financial
assets
Investment property 240,805,064 242,880,980
Fixed assets 1,319,050,353 1,348,308,487
Construction in progress 22,543,608 1,734,300
Productive biological assets
Oil-and-gas assets
Right-of-use assets 1,992,642,373 2,049,366,982
Intangible assets 780,081,997 802,566,730
Including: Data resources
Development expenditures 22,977,031 14,773,607
Including: Data resources
Goodwill 5,612,990,783 5,612,990,783
Long-term deferred expenses 577,012,855 609,448,600
Deferred income tax assets 129,396,895 133,973,303
Other non-current assets 8,530,627 8,530,627
Total non-current assets 10,889,247,655 11,014,750,624
Total assets 19,907,236,683 19,845,403,504
Current liabilities:
Short-term loans 498,193,267 697,299,622
Borrowings from central bank
Funds borrowed
Trading financial liabilities
Derivative financial liabilities
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Notes payable 4,986,734,658 5,008,269,907
Accounts payable 1,890,505,986 1,746,997,615
Advances from customers 19,126,718 16,853,246
Contract liabilities 173,320,877 217,575,573
Financial assets sold for
repurchase
Deposits from customers and
other banks
Receiving from vicariously
traded securities
Receiving from vicariously sold
securities
Payroll payable 357,999,538 455,209,144
Taxes and dues payable 137,060,564 152,684,505
Other payables 592,262,404 626,911,001
Of which: Interest payable
Dividends payable
Service charges and
commissions payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within
one year
Other current liabilities 17,000,197 15,196,091
Total current liabilities 10,049,650,604 10,164,210,873
Non-current liabilities:
Reserves for insurance contracts
Long-term loans 1,316,087,068 1,434,968,318
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 1,198,766,728 1,204,831,000
Long-term payables
Long-term employee
compensation payable
Provisions
Deferred income 9,640,567 10,556,274
Deferred tax liabilities 34,642,127 34,744,543
Other non-current liabilities
Total non-current liabilities 2,559,136,490 2,685,100,135
Total liabilities 12,608,787,094 12,849,311,008
Total owner's equity (or shareholder's equity):
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Paid-in capital (or capital stock) 758,890,236 758,890,236
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 1,694,612,672 1,694,612,672
Less: Treasury stock
Other comprehensive income 15,231,092 15,231,092
Special reserve
Surplus reserve 350,789,036 350,789,036
General risk reserve
Undistributed profits 3,979,724,610 3,715,868,949
Total owner's equity (or
shareholder's equity) attributable to 6,799,247,646 6,535,391,985
parent company
Minority equity 499,201,943 460,700,511
Total owner's equity (or
shareholder's equity)
Total liabilities and owner's
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 5,481,296,988 5,435,220,089
Of which: Operating income 5,481,296,988 5,435,220,089
Interest income
Premium earned
Fee and commission income
II. Total operating costs 5,110,519,821 5,088,365,773
Including: operating costs 3,644,584,649 3,575,169,042
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 20,339,349 19,606,254
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Selling expenses 1,137,949,946 1,178,098,269
Administrative expenses 267,567,403 269,319,579
R&D expenses 12,094,832 8,405,207
Financial expenses 27,983,642 37,767,422
Including: Interest expenses
Interest income
Add: Other income 15,013,661 16,365,873
Investment income (loss indicated
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
indicated with "-")
Asset impairment loss (loss
indicated with "-")
Gains from disposal of assets
-1,087,616 -757,855
(losses indicated with "-")
III. Operating profits (loss indicated with "-
")
Add: non-operating income 3,434,572 4,853,057
Less: non-operating expenses 3,866,041 2,769,204
IV. Profit before tax (Total loss indicated
with "-" )
Less: income tax expenses 83,449,314 78,503,678
V. Net Profit (Net loss indicated with "-") 302,357,093 287,724,682
(I) By operating continuity
(net loss indicated with "-")
operations (net loss indicated with "-")
(II) By ownership attribution
company’s shareholders (net losses 263,855,661 250,636,310
indicated with “-”)
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
with "-")
VI. Net amount of other comprehensive
income after tax
(I) Other comprehensive income
attributable to owners of the parent
company, net of tax
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
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 302,357,093 287,724,682
(I) Total comprehensive income
attributable to owners of the parent 263,855,661 250,636,310
company
(II) Total comprehensive income
attributable to minority shareholders
LBX 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
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 422,338 1,630,258
Other cash received relating to
operating activities
Subtotal of cash inflows of
operating activities
Cash paid for purchasing goods and
receiving services
LBX 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 923,136,396 957,930,913
Various tax payments 247,985,728 231,130,419
Other cash paid relating to operating
activities
Subtotal of cash outflows from
operating activities
Net cash flows from operating
activities
II. Cash flows from investing activities:
Cash received from return on
investments
Cash received from investment
income
Net cash received from disposal of
fixed assets, intangible assets and other 53,355 6,010,837
long-term assets
Net cash recovered from disposal of
subsidies and other operating units
Other cash received relating to
investing activities
Subtotal of cash inflows of
investing activities
Cash paid for acquisition and
construction of fixed assets, intangible 37,165,632 56,789,500
assets and other long-term assets
Cash paid for investment 5,040 412,961
Net increase in pledge loans
Net cash paid for acquisition of
subsidiaries and other business entities
Other cash paid relating to investing
activities
Subtotal of cash outflows from
investing activities
LBX Pharmacy Chain Joint Stock Company2026 First Quarter Report
Net cash flows from investing
-29,205,370 -51,420,974
activities
III. Cash flows from financing activities:
Cash received from capital
contributions
Including: cash received by
subsidiaries from minority shareholders
Cash received from loans 100,000,000 5,590,000
Other cash received related to
financing activities
Subtotal of cash inflows of
financing activities
Cash paid for repayment of debts 221,110,278 460,324,535
Cash paid for distributing dividends
and profits or repaying interest
Including: dividends and profits paid
by subsidiaries to minority 23,419,644
shareholders
Other cash paid relating to financing
activities
Subtotal of cash outflows from
financing activities
Net cash flows from financing
-423,637,217 -802,021,888
activities
IV. Effect of exchange rate changes
on cash and cash equivalents
V. Net increase in cash and cash
equivalents
Add: opening balance of cash and
cash equivalents
VI. Closing balance of cash and cash
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
