Recently, pharmaceutical companies have been releasing their first-quarter earnings forecasts intensively. Overall, the innovative drug sector has emerged as the absolute mainstay, with over ten pharmaceutical companies reporting positive earnings forecasts, and three even showing a net profit increase of over 900%.
Fuxiang Pharmaceutical
Fuxiang Pharmaceutical has disclosed its performance forecast for the first quarter of 2026. The company anticipates a substantial increase in performance from January to March 2026, with net profit attributable to shareholders of listed companies ranging from 52 million to 75 million yuan, representing a year-on-year increase of 2222.67% to 3250.01%. The company's business spans three major sectors: pharmaceutical manufacturing (being a globally significant production base for β-lactamase inhibitor active pharmaceutical ingredients), new energy materials (lithium battery electrolyte additives), and synthetic biology (microbial proteins).
The forecast for this performance increase is primarily attributed to the favorable business operation of the company's lithium battery electrolyte additive business during the reporting period, where core products such as VC and FEC have seen both volume and price increases. Additionally, the company's market advantage in the pharmaceutical sector has been continuously consolidated, and efforts have been made to deeply explore cost reduction and efficiency enhancement.
"Haisco"
The performance forecast for the first quarter of 2026 from Hisco shows that the company expects its net profit attributable to shareholders to reach RMB 477 million to RMB 557 million, representing a year-on-year increase of 923% to 1095%. The net profit after deducting non-recurring gains and losses is expected to be RMB 449 million to RMB 529 million, up 791% to 951% from the same period last year.
Regarding the explosive growth in performance, the company clearly stated that there are mainly two reasons: Firstly, the company actively expands the market, and the sales of innovative drugs continue to maintain good growth. It is reported that since 2020, Hesco has successively approved four innovative drugs for marketing, namely, Huanboshen Injection (Sishuning), Cligabarin Capsules (Simuning), Kaogletin Tablets (Beichangping), and Anruikefen Injection (Sishujing).
Secondly, in January 2026, the company granted AirNexis Therapeutics, Inc. the rights to develop, produce, and commercialize HSK39004 overseas, with an initial payment of $108 million and up to $955 million in additional milestone payments and royalties. During the reporting period, the company received all cash and part of the equity from the initial payment of this transaction and recognized revenue, significantly increasing the revenue and profit scale in Q1.
Wanbangde
Wanbangde is expected to achieve a net profit of RMB 165 million in the first quarter, representing a year-on-year increase of 985.40%. After deducting non-recurring gains and losses, the net profit will be RMB 164 million, marking a significant year-on-year growth of 2174.55%. It is a large enterprise primarily engaged in pharmaceutical manufacturing and medical devices, with core products including Ginkgo leaf dropping pills, Huperzine A injection, Phloroglucinol injection, and Bromhexine hydrochloride tablets.
It is understood that in 2025, WBD was in a loss position, with a net profit attributable to shareholders of -199 million yuan, a decrease of 458.54%. However, in the first quarter of 2026, WBD's net profit surged. Industry analysts believe that the core reason is that the company's strategic transformation from generic drugs to innovative drugs has begun to bear fruit, and business expansion has brought new growth points. At the same time, by strengthening internal management and increasing efforts to recover accounts receivable, the company effectively accelerated capital recovery, which also played a positive role in profit growth.
Overall, the explosive performance of many domestic pharmaceutical companies in their first quarterly reports for 2026 fully demonstrates that China's innovative pharmaceutical companies are gradually establishing sustainable profitability, and the industry has also entered a new stage of high-quality development.