Simcere Pharmaceutical (2096.HK) Q1 2025 Earnings Report

Simcere Pharmaceutical Group Limited reported QQ1 2025 revenue of CNY 1.792 billion, up 15.14% year over year and 1.80% quarter over quarter, with a robust gross margin of 80.7% and an operating margin of 19.1%. Net income reached CNY 301.8 million, corresponding to a net margin of 16.8% and an EPS of CNY 0.12. The quarter underscored disciplined cost control and favorable product mix contributing to EBITDA of CNY 413.0 million and a double-digit YoY rise in operating income (+39.1%). The company maintains a conservatively leveraged balance sheet (debt ratio ~9.8%, debt-to-equity ~0.17) and healthy liquidity (current ratio ~1.73, quick ratio ~1.57). Relative to peers, Simcere exhibits margin discipline and solid cash generation characteristics, supporting an earnings trajectory backed by its oncology, CNS, autoimmune, and anti-infection portfolios, as well as potential licensing partnerships.