China Isotope & Radiation Corporation (1763) H2 2024 earnings summary

Executive summary

• Revenue rose 14.2% year-over-year to RMB7,574.8 million, with net profit up 13.3% to RMB879.5 million and net profit attributable to the parent up 9.6% to RMB406.6 million.

• Growth was driven by strong performance in nuclear medical equipment, radioactive source products, and other business segments.

• The company advanced R&D, launching new products and expanding international business, with export revenue reaching RMB626.5 million.

• Major production capacity expansions and new subsidiaries were established, enhancing the national network and international presence.

Financial highlights

• Revenue increased from RMB6,635.0 million in 2023 to RMB7,574.8 million in 2024.

• Gross profit rose 5.8% to RMB3,682.8 million, but gross margin declined from 52.5% to 48.6% due to higher revenue from lower-margin segments.

• Profit before tax grew 13.3% to RMB1,045.2 million; net profit reached RMB879.5 million.

• Basic and diluted EPS were RMB1.27, up from RMB1.16 in 2023.

• Final dividend proposed at RMB0.309 per share.

Outlook and guidance

• Focus on strengthening strategic leadership, scientific innovation, and expanding international markets, especially in South America, Southeast Asia, and Belt and Road countries.

• Plans to accelerate R&D, digital transformation, and intelligent nuclear medicine projects.

• Continued investment in production capacity, capital operations, and market expansion.