Shanghai Pharmaceuticals' net profit is expected to grow by 26% by 2025, with President Shen Bo and Chief Operating Officer Li Yongzhong both earning over 3 million yuan in compensation.

**Ruicai Finance Liu Zhiying **On March 30, Shanghai Pharmaceuticals (SH601607) released its 2025 annual report.

During the reporting period, Shanghai Pharmaceuticals generated operating revenue of RMB 283.58B, up 3.03% year over year. Of this: pharmaceutical manufacturing achieved sales revenue of RMB 245.22 billion, up 3.33%; pharmaceutical distribution achieved sales revenue of RMB 24.52B, up 3.00%.

During the reporting period, the company’s net profit attributable to shareholders of listed companies was RMB 2.04B, up 25.74% year over year. This was mainly due to a one-time special gain arising from the accounting change for Huangkai Pharmaceutical to move from equity-method accounting as a joint venture to subsidiary accounting. After excluding the above one-time special gains and losses, the company’s net profit attributable to shareholders was RMB 2.34B, down 5.56% year over year. During the reporting period, the industrial segment contributed profit of RMB 5.43M, and the commercial segment contributed profit of RMB 5.8M, mainly driven by profit contributions of RMB 325 million from invested companies.

During the reporting period, the company’s R&D investment was RMB 5.64M, accounting for 10.62% of industrial sales. Of this: R&D expenses were RMB 3.05M, accounting for 9.54% of industrial sales. During the reporting period, the company’s net cash inflow from operating activities for the full year was RMB 3.28M, up 5.61% year over year.

According to a review by Ruicai Society, in 2025, the remuneration of Shen Bo, president of Shanghai Pharmaceuticals, and Li Yongzhong, executive president, were both over RMB 3.0 million.

Eastmoney’s data shows that from 2021 to 2025, Shen Bo’s remuneration was RMB 5.434 million, RMB 5.74M, RMB 6.52M, RMB 6.03M, and RMB 2.75M, respectively; and Li Yongzhong’s remuneration was RMB 5.744 million, RMB 3.32M, RMB 6.027 million, RMB 2.754 million, and RMB 3.319 million, respectively.

Shen Bo, 53, holds a master’s degree in professional accountancy from The Chinese University of Hong Kong. A certified public accountant in China. He is currently an executive director and president of Shanghai Pharmaceuticals, and also serves as a director at a subsidiary of Shanghai Pharmaceuticals. Shen Bo currently serves as a non-executive director of Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd., a company dual-listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange’s STAR Market. He previously served as a non-executive director of Tian Da Pharmaceutical Co., Ltd., a company listed on the Hong Kong Stock Exchange; general manager of the finance department of Shanghai Pharmaceuticals (Group) Co., Ltd.; chief financial officer of Shanghai Industrial Pharmaceutical Investment Co., Ltd.; deputy manager of the finance department of Shanghai Jinling Co., Ltd., and held other positions.

Li Yongzhong, 56, holds a master’s degree in EMBA from China Europe International Business School. A pharmacist. He is currently an executive director and executive president of Shanghai Pharmaceuticals, and also serves as chairman at Shanghai Pharmaceuticals’ subsidiary Sh’ang Pharma Holdings Co., Ltd., as well as serving as a director at other of Shanghai Pharmaceuticals’ subsidiaries. He previously served as general manager of Shanghai Pharma Holdings Co., Ltd.; assistant to the general manager and deputy general manager of Shanghai Pharmaceuticals Co., Ltd.; general manager and deputy general manager of the pharmaceutical distribution business division; deputy manager of the new drug branch of Shanghai Pharmaceuticals Co., Ltd., and held other positions.

Relevant company: Shanghai Pharmaceuticals hk02607