Grand Pharmaceutical Group (512) H2 2024 earnings summary

Executive summary

• Revenue for 2024 reached HK$11,644.89 million, up 10.6% year-over-year (12.8% in constant currency).

• Net profit attributable to owners was HK$2,468.38 million, a 31.3% increase year-over-year (34.0% in constant currency).

• Significant growth in nuclear medicine anti-tumor segment, with revenue up 176.6% year-over-year to HK$589.46 million.

• Final dividend of HK$0.26 per share proposed, totaling HK$910.47 million.

• Continued strategic expansion through acquisitions and introduction of innovative products.

Financial highlights

• Gross profit for 2024 was HK$6,738.32 million, up from HK$6,524.07 million in 2023.

• Earnings per share rose to 70.49 HK cents from 53.60 HK cents in 2023.

• Distribution costs increased to HK$3,256.89 million due to new product marketing; admin expenses rose to HK$1,365.37 million.

• Finance costs decreased to HK$180.24 million, reflecting lower interest rates from refinancing.

• R&D and project investment totaled HK$2,273.96 million.

• Current ratio remained stable at 1.22; gearing ratio increased to 26.4% from 21.5%.

Outlook and guidance

• 2025 expected to see further growth in nuclear medicine, respiratory, ophthalmology, and cardiovascular sectors.

• Expansion of hospital access and physician training to drive adoption of Yttrium-90 microsphere injection.

• Multiple innovative products anticipated to reach critical R&D milestones and commercialization.

• Continued focus on high-quality development, global expansion, and social responsibility.