NuoCheng Jianhua's annual revenue reaches 2.4 billion: net profit of 640 million. King Bridge clears inventory or cashes out 2 billion.

Ask AI · What impact does King Bridge’s full liquidation and cash-out of RMB 2 billion have on the company’s stock price?

Lei Di Network Lei Jianping April 7

NuoChengJianHua Pharmaceutical Co., Ltd. (company code: 688428, company abbreviation: NuoChengJianHua) has recently released its financial report for the period ended December 31, 2025. The financial report shows that NuoChengJianHua’s 2025 revenue was RMB 2.38B, up 135.27% from RMB 1.01B in the same period last year;

Among them, NuoChengJianHua’s 2025 drug sales revenue was RMB 1.44B, up 43.43% from RMB 1.01B in the same period last year. This was mainly due to the continued increase in the sales volume of obinutuzumab? and the addition of sales for tazemig? monoclonal antibody, as well as revenue recognized in connection with authorized licensing achieved during the year.

NuoChengJianHua’s 2025 net profit was RMB 642 million, compared with a net loss of RMB 441 million in the same period last year; net profit after non-recurring items was RMB 553 million, compared with a net loss after non-recurring items of RMB 440 million in the same period last year.

NuoChengJianHua’s 2025 fourth-quarter revenue was RMB 1.26 billion, net profit was RMB 707 million, and net profit after non-recurring items was RMB 689 million.

King Bridge clears out or has already cashed out RMB 2 billion

As of December 31, 2025, HHLR under Hillhouse and its parties acting in concert held 11.8251%, Sunny ViewHoldings and Renbin Zhao (Zhao Renbin, Shi Yigong) family held 8.2066%, and Sunland BioMedLtd and Jisong Cui (Cui Jisong) family held 7.1976%;

As of December 31, 2025, the equity structure of NuoChengJianHua

China Construction Bank Corporation—Fuguo Precision Medical Flexible Allocation Hybrid Securities Investment Fund held 0.6888%, Chen Xiaofa held 0.4226%, China Construction Bank Corporation—Industrial and Commercial Securities? Front? Medical Stock? Securities Investment Fund held 0.3967%, and China Construction Bank Corporation—Yinhua? Innovative Biopharma Thematic Hybrid Securities Investment Fund held 0.3302%.

China Merchants Bank Co., Ltd.—Yinhua Medical Services Flexible Allocation Hybrid Securities Investment Fund held 0.3269%, and Logan Long held 0.315%.

As of September 30, 2025, HHLR under Hillhouse and its parties acting in concert held 11.8251%, Sunny ViewHoldings and Renbin Zhao (Zhao Renbin, Shi Yigong) family held 8.2066%, Sunland BioMedLtd and Jisong Cui (Cui Jisong) family held 7.1976%, King Bridge InvestmentsLimited and its parties acting in concert held 6.9176%, China Construction Bank Corporation—Fuguo Precision Medical Flexible Allocation Hybrid Securities Investment Fund held 0.6888%, and Bank of Communications Co., Ltd.—WanJia Industry Selection Hybrid Securities Investment Fund (LOF) held 0.5667%;

As of September 39, 2025, the equity structure of NuoChengJianHua

Bank of China Limited—Ping An Healthcare Health Hybrid Securities Investment Fund held 0.4889%, China Construction Bank Corporation—Industrial and Commercial Securities? Front? Medical Stock? Securities Investment Fund held 0.4533%, and China Construction Bank Corporation—Yinhua? Innovative Biopharma Thematic Hybrid Securities Investment Fund held 0.3888%.

By comparison, it can be found that King Bridge InvestmentsLimited and its parties acting in concert have exited the top ten shareholders, with the shareholding ratio below 0.3%, and may have already fully liquidated and left.

As of now, NuoChengJianHua’s stock price is RMB 29.47, the market value is RMB 52.0 billion, and conservatively, King Bridge’s cash-out exceeds RMB 2.0 billion.

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