Bloomage BioTechnology (688363) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was RMB 5.37 billion, down 11.60% year-over-year; net profit attributable to shareholders was RMB 164 million, down 72.27% year-over-year.

• The company is undergoing a strategic transformation, shifting from rapid growth to high-quality growth, with significant management reforms and increased investment in innovation and R&D.

Financial highlights

• Operating profit fell 70.33% year-over-year to RMB 210 million; total profit dropped 70.40% to RMB 208 million.

• Net profit attributable to shareholders after non-recurring items was RMB 101 million, down 79.36% year-over-year.

• Basic EPS was RMB 0.34, down from RMB 1.23; ROE decreased by 5.97 percentage points to 2.34%.

• Total assets at year-end were RMB 8.63 billion, up 1.90% from the start of the year.

• Shareholders' equity decreased by 2.00% to RMB 6.81 billion.

Outlook and guidance

• Functional skincare business is expected to bottom out in 2025 after ongoing adjustments and foundation strengthening.

• Management reforms and strategic upgrades are expected to provide long-term growth potential despite short-term performance pressure.