Citi's analyst rating for Sinopharm is based on the company's revenue performance in the first quarter of 2026, which was slightly below expectations, particularly in pharmaceutical distribution. However, the retail business showed growth, and there are signs of stabilization in medical device distribution. Despite lowering revenue and profit forecasts for the next few years due to ongoing challenges in pharmaceutical distribution, Citi maintains a Buy rating, anticipating that Sinopharm will gain market share through expansion in lower-tier cities.
