Executive Summary
- QQ3 2024 revenue reached 1,760,843,500 CNY, up 9.1% year over year and 13.1% quarter over quarter, reflecting steady top-line momentum as the company continues to monetize its diverse product portfolio in China. The gross margin stood at 81.29%, supporting a constructive profitability framework even as R&D and selling, general & administrative (SG&A) expenses remain elevated due to ongoing pipeline development and market expansion efforts. Net income of 138,282,500 CNY translated to a net margin of 7.85%, with diluted EPS of 0.0545 CNY. EBITDA of 330,756,500 CNY produced an EBITDA margin of 18.78%, underscoring proceeding operating leverage within a high-R&D environment.
Key Performance Indicators
QoQ: -39.43% | YoY:117.73%
QoQ: -37.54% | YoY:118.63%
Key Insights
Revenue: 1,760,843,500 CNY; YoY growth 9.08%; QoQ growth 13.11% | Gross Profit: 1,431,323,500 CNY; Gross Margin 81.29% | Operating Income: 177,943,500 CNY; Operating Margin 10.11% | EBITDA: 330,756,500 CNY; EBITDA Margin 18.78% | Net Income: 138,282,500 CNY; Net Margin 7.85% | EPS (diluted): 0.0545 CNY; Weighted Avg Shares Diluted: 2,487,789,687...
Financial Highlights
Revenue: 1,760,843,500 CNY; YoY growth 9.08%; QoQ growth 13.11% | Gross Profit: 1,431,323,500 CNY; Gross Margin 81.29% | Operating Income: 177,943,500 CNY; Operating Margin 10.11% | EBITDA: 330,756,500 CNY; EBITDA Margin 18.78% | Net Income: 138,282,500 CNY; Net Margin 7.85% | EPS (diluted): 0.0545 CNY; Weighted Avg Shares Diluted: 2,487,789,687
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.76B |
9.08% |
13.11% |
| Gross Profit |
1.43B |
18.15% |
16.28% |
| Operating Income |
177.94M |
1.11% |
-27.69% |
| Net Income |
138.28M |
117.73% |
-39.43% |
| EPS |
0.06 |
118.63% |
-37.54% |
Key Financial Ratios
operatingProfitMargin
10.1%
Management Commentary
Note: No earnings-call transcript was provided for QQ3 2024 in the data supplied. Consequently, there are no management quotes or theme-based highlights to extract from a call transcript.
Forward Guidance
There is no formal forward guidance disclosed in the QQ3 2024 results. The company continues to invest in R&D and pipeline development, with notable activity in oncology and CNS through existing product lines and licensing arrangements (e.g., Vivoryon Therapeutics collaboration for neurotoxicity/Alzheimer's disease targets). In our view, key near-term catalysts include: (1) further progress updates on major product candidates and any regulatory milestones in China, (2) potential new licensing or collaboration deals that could unlock additional value from the pipeline, and (3) continued monetization of existing products through domestic distribution channels.Risks to guidance include ongoing R&D burn, competitive intensity in China's biotech sector, regulatory changes affecting pricing and reimbursement, and macroeconomic dynamics affecting China’s pharmaceutical market.