China Resources Boya Bio-pharmaceutical Group (300294) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥349.37 million, down 46.21% year-over-year; YTD revenue was ¥1.25 billion, down 43.16% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥96.73 million, down 29.98% year-over-year; YTD net profit was ¥412.70 million, down 11.07% year-over-year.

• Major decline in revenue and profit due to the disposal of subsidiaries Fuda Pharma and Tianan Pharma in late 2023.

Financial highlights

• Operating cash flow for Q3 was ¥262.41 million, down 50.08% year-over-year.

• Basic and diluted EPS for Q3 was ¥0.19, down 29.63% year-over-year; YTD EPS was ¥0.82, down 10.87% year-over-year.

• Gross margin improved as cost of sales fell more sharply than revenue, reflecting the impact of divestitures.

Outlook and guidance

• Blood products business revenue grew 0.39% year-over-year to ¥1.09 billion, driven by increased sales of human prothrombin complex and factor VIII.

• Raw plasma collection reached 387.44 tons YTD, up 12.39% year-over-year, supporting future production.