Shijiazhuang Yiling Pharmaceutical (002603) Q4 2024 earnings summary

Executive summary

• 2024 revenue was ¥6.51 billion, down 36.88% year-over-year; net loss attributable to shareholders was ¥724.52 million, a 153.57% decrease from last year.

• Operating cash flow increased 293.04% to ¥611 million despite the net loss.

• Losses were driven by reduced sales, inventory write-downs for near-expiry respiratory products, higher raw material costs, and sustained R&D investment.

Financial highlights

• Gross margin declined due to higher raw material prices and lower sales.

• R&D expenses remained high at ¥826.57 million, 13.94% of revenue.

• Total assets at year-end were ¥16.98 billion, down 21.56% from the prior year.

• Net assets attributable to shareholders fell 10.71% to ¥10.22 billion.

• Basic and diluted EPS were both -0.4337.

Outlook and guidance

• The company will focus on cost control, digital transformation, and expanding its product pipeline in 2025.

• Plans to strengthen professional promotion, optimize product coverage, and accelerate new drug development.

• R&D investment will remain high, with a focus on innovative drugs and health products.