Haisco Pharmaceutical Group (002653) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥3.72 billion in 2024, up 10.92% year-over-year; net profit attributable to shareholders rose 34% to ¥395 million.

• Two innovative drugs, Bencarnitine Gabapentin Capsules and Koglitin Tablets, were launched and included in the national medical insurance directory.

• Core product Remimazolam Injection sales grew 45.6%, becoming the largest product by revenue.

• R&D investment reached ¥1 billion, accounting for 26.9% of revenue, with 973 R&D staff.

• Proposed cash dividend of ¥1.35 per 10 shares, with total cash dividends for the year at ¥151 million.

Financial highlights

• Operating income: ¥3.72 billion, up 10.92% year-over-year.

• Net profit attributable to shareholders: ¥395 million, up 34% year-over-year.

• Gross margin for pharmaceutical business: 71.62%.

• Operating cash flow: ¥442 million, down 1.68% year-over-year.

• R&D expenses: ¥624 million, up 20.8% year-over-year.

• Total assets: ¥6.80 billion, up 2.19% from previous year-end.

Outlook and guidance

• 2025 sales revenue expected to grow by 15%, with innovative drug sales share approaching 40%.

• R&D investment planned to increase by 15%, focusing on biopharmaceuticals and expanding clinical pipelines.

• Four innovative drugs expected to drive sales growth, with new indications and international expansion planned.