Shenzhen Salubris Pharmaceuticals (002294) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥4.01 billion in 2024, up 19.22% year-over-year; net profit attributable to shareholders was ¥601.57 million, up 3.71% year-over-year.

• New products, including innovative drugs and medical devices, drove growth; R&D investment reached ¥1.02 billion, accounting for 25.35% of revenue.

• Cash flow from operating activities increased 41.32% year-over-year to ¥1.19 billion.

• Proposed cash dividend of ¥5.00 per 10 shares, with a payout ratio of 92.66% of net profit.

Financial highlights

• Revenue: ¥4.01 billion (+19.22% YoY); net profit attributable to shareholders: ¥601.57 million (+3.71% YoY); EPS: ¥0.54 (+3.85% YoY).

• Gross margin for pharmaceutical manufacturing: 73.40%; for medical devices: 64.70%.

• Operating cash flow: ¥1.19 billion (+41.32% YoY); total assets: ¥10.47 billion (+11.38% YoY).

• R&D expenses: ¥1.02 billion, 25.35% of revenue.

Outlook and guidance

• Focus on expanding innovative product pipeline in cardiovascular, metabolic, renal, and orthopedic fields.

• Plan to accelerate commercialization and internationalization of new products in 2025.

• Sufficient cash and credit lines to support ongoing R&D and business expansion.