HealthyWay Inc. (2587) H2 2024 earnings summary

Executive summary

• FY2024 revenue fell 3.5% YoY to RMB1,200.8m; gross profit declined to RMB365.9m and net loss narrowed 14.2% to RMB269.2m.

• Adjusted net profit, excluding redemption-liability changes and listing expenses, was RMB22.8m versus RMB39.4m in 2023.

Financial highlights

• Revenue was RMB1,200.8m versus RMB1,244.5m; cost of sales declined to RMB834.9m from RMB846.2m.

• Gross profit was RMB365.9m versus RMB398.2m; operating profit rose to RMB13.7m from RMB7.2m.

• Net loss narrowed to RMB269.2m from RMB313.9m; loss before tax was RMB263.8m versus RMB320.9m.

• Adjusted net profit was RMB22.8m versus RMB39.4m, adding back RMB272.8m of redemption-liability changes and RMB19.2m of listing expenses in 2024.

Outlook and guidance

• Priorities include monetizing pharmaceutical sales, content and IT services, expanding physician connections, and integrating more medical services on the platform.

• Plans include expanding real-world study support through broader physician cooperation and clinical-data access; scale growth is expected to improve cost efficiency.

• Management expects further improvement in financial performance and profitability through revenue growth and cost efficiency.