Pientzehuang Profit Falls 24.22% in First Half as Revenue Drops 14.98%

Pientzehuang, the long-established traditional Chinese medicine maker known as a "medicine king," reported first-half revenue of 4.573 billion yuan, down 14.98% year on year, and net profit attributable to shareholders of 1.093 billion yuan, down 24.22%, according to Jiemian News. The company said liver-disease medicines remained the main drag, with revenue falling 18.92% to 2.348 billion yuan, while cardiovascular medicines rose 28.82% to 77.43 million yuan. On August 31, the stock fell 3.65% to 122.65 yuan a share, giving it a market value of 73.997 billion yuan, far below its peak of more than 290 billion yuan. Jiemian News also noted that Pientzehuang raised the retail price of its tablet product to 760 yuan in May 2023 after 19 price increases between 2004 and 2020.