Shanghai Pharmaceuticals (601607) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached RMB 139.41 billion, up 5.14% year-over-year; net profit attributable to shareholders was RMB 2.94 billion, up 12.72% year-over-year.

• Core business covers pharmaceutical manufacturing and distribution, with continued innovation and digital transformation driving growth.

• The company maintained its position in the Fortune Global 500, ranking 411th in 2024.

Financial highlights

• Operating income: RMB 139.41 billion, up 5.14% year-over-year.

• Net profit attributable to shareholders: RMB 2.94 billion, up 12.72% year-over-year.

• Net profit after non-recurring items: RMB 2.71 billion, up 23.00% year-over-year.

• Basic and diluted EPS: RMB 0.79, up 11.27% year-over-year.

• Operating cash flow: RMB 515 million, down 68.55% year-over-year.

Outlook and guidance

• The company will focus on core business, enhance operational efficiency, and accelerate R&D and digitalization in H2 2024.

• Industrial segment to strengthen innovation and product planning; commercial segment to pursue high-quality growth.