Consun Pharmaceutical Group (1681) H1 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 rose 13.3% year-over-year to RMB1,268.5 million, driven by strong growth in kidney, gynaecology, paediatrics, contrast medium, and orthopedics medicines.

• Net profit attributable to equity shareholders increased 14.9% year-over-year to RMB399.8 million, with basic EPS up 13.1% to RMB0.4987.

• Gross profit margin remained stable at 74.7% compared to the prior year.

• Interim dividend of HKD0.3 per share declared, up from HKD0.15 per share in the prior year period.

Financial highlights

• Gross profit increased 13.3% year-over-year to RMB947.5 million.

• Distribution costs rose 13.8% to RMB411.9 million, in line with sales growth.

• Administrative expenses decreased 1.5% to RMB134.7 million.

• Finance costs surged 85.6% to RMB13.4 million due to higher loan facilities and offshore borrowing rates.

• Net cash from operating activities increased 37.9% to RMB350.3 million.

Outlook and guidance

• The company aims to consolidate its development foundation, enhance management efficiency, and implement strategic plans for high-quality, sustainable growth.

• Focus remains on stabilizing growth, strengthening compliance, and internal training, with continued emphasis on innovation, R&D, and academic promotion.