Jiangsu Hengrui Pharmaceuticals: Authorized revenue becomes the "accelerator" for performance.
Personnel, products, and research and development are gradually becoming Global.
The upfront payment for the new ADC drug has boosted revenue, Jiangsu Hengrui Pharmaceuticals' Q1 revenue increased by 20.14% year-on-year, and net income increased by 36.9% | Earnings Reports insights.
In Q1, Jiangsu Hengrui Pharmaceuticals' revenue increased by 20.14% year-on-year, net income attributable to the parent company increased by 36.9%, and net income after deductions increased by 29.35% year-on-year. The significant increase in net income was primarily due to the company receiving a $75 million upfront payment for external licensing.
Dingyang Technology expects to increase revenue in 2024 without an increase in profit, with the gross margin of Block Orders products slightly declining year-on-year.
① Dingyang Technology achieved revenue of 0.497 billion yuan in 2024, a year-on-year increase of 2.93%, but the net income attributable to the parent was 0.112 billion yuan, a year-on-year decrease of 27.79%; ② Due to changes in product structure and increased market competition during the reporting period, the gross margin of the company's four main Block Orders was 63.79%, a decrease of 0.26 percentage points year-on-year.
In 2024, Chengda Biological's profits are hindered, the rabies vaccine is under pressure, while the Japanese encephalitis vaccine and overseas market are growing.
① Due to intensified market competition, rabies vaccine sales are under pressure, resulting in a decline in both revenue and net profit for Chengda Biotech in 2024; ② The company's product structure is relatively singular, with human rabies vaccine still being the main source of income, but its growth rate is lower than the overall level, while the inactivated Japanese encephalitis vaccine and the Overseas market are showing a faster growth trend.
Bide Pharmaceutical's net profit in 2024 increased by 7.17% year-on-year, with the Overseas market becoming the growth engine.
In 2024, Bid achieved an annual revenue of 1.102 billion yuan, a year-on-year increase of 0.93%; the net income attributable to the parent company's shareholders was 0.117 billion yuan, a year-on-year increase of 7.17%; the company stated it will continue to optimize the product structure, deepen its global layout, and increase R&D investment to respond to changes in the industry technology.
Fumetinib drives performance growth, Shanghai Allist Pharmaceuticals Co., Ltd. expects net profit to increase by over 120% year-on-year in 2024.
① During the reporting period, Shanghai Allist Pharmaceuticals Co., Ltd. achieved revenue of 3.558 billion yuan, a year-on-year increase of 76.29%; net income attributable to shareholders was 1.43 billion yuan, up 121.97% year-on-year, and net income excluding extraordinary items was 1.361 billion yuan, an increase of 124.51% year-on-year; ② The net cash flow reached 1.566 billion yuan, a growth of 132.12% compared to 0.675 billion yuan in the same period last year. Ample funds are beneficial for expanding R&D investment.
