Shandong Pharmaceutical Glass nine-month profit falls 4.1% on weak demand and rebate cut
Shandong Pharmaceutical Glass reported nine-month 2026 revenue of USD 488m (RMB 3.249bn), down 3.07% year on year. Net profit attributable to shareholders fell 4.09% to USD 78.2m (RMB 520m). The company cited weak domestic demand, stronger competition, higher inventories and the removal of export tax rebates on pharmaceutical glass from April 2026. Prior-period revenue was restated after a March 2026 correction moved a trading subsidiary's revenue recognition from gross to net, with no effect on profit or net assets. Sinopharm Group's proposed USD 481m (RMB 3.2bn) private placement to take control is still under Shanghai Stock Exchange review.
Why this mattersLost export rebates and weak domestic demand are eroding earnings at China's dominant pharma glass maker while Sinopharm's planned takeover still awaits exchange approval.
- Nine-month 2026 revenue USD 488m (RMB 3.249bn), down 3.07% year on year
- Nine-month net profit attributable to shareholders USD 78.2m (RMB 520m), down 4.09%
- Q3 revenue USD 146m (RMB 969m), down 12.07%; Q3 net profit USD 22.4m (RMB 149m), down 12.79%
- Export tax rebates on pharmaceutical glass removed from April 2026
- 2023-2025 revenue restated after subsidiary Yiyuan Xinkang's trading revenue moved from gross to net recognition; no effect on profit
- Sinopharm Group's proposed USD 481m (RMB 3.2bn) private placement for control remains under Shanghai Stock Exchange review