Jiangsu Jibeier Pharmaceutical (688566) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 209.5 million, up 5.74% year-over-year; YTD revenue was RMB 643.2 million, up 4.25% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 52.56 million, down 10.62% year-over-year; YTD net profit was RMB 174.56 million, up 12.57% year-over-year.

• Basic EPS for Q3 was RMB 0.27, down 12.90% year-over-year; YTD basic EPS was RMB 0.91, up 9.64% year-over-year.

Financial highlights

• Operating cash flow for the first nine months was RMB 169.96 million, up 77.88% year-over-year, mainly due to increased cash from sales.

• R&D investment for Q3 was RMB 16.55 million, up 22.57% year-over-year; YTD R&D investment was RMB 51.89 million, up 23.25% year-over-year.

• R&D as a percentage of revenue increased to 7.90% in Q3 and 8.07% YTD.

• Non-recurring gains for the first nine months totaled RMB 4.35 million, mainly from government subsidies and fair value changes.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 2.39%, down 0.89 percentage points year-over-year; YTD ROE was 8.55%, down 0.25 percentage points.

• Gross margin for the first nine months was approximately 89.5%.

• Total assets at quarter-end were RMB 2.49 billion, up 12.77% from year-end 2023.

• Shareholders’ equity at quarter-end was RMB 2.26 billion, up 18.42% from year-end 2023.