CHINA NATIONAL MEDICINES CORP (600511) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached RMB 38.03 billion, up 4.10% year-over-year.

• Net profit attributable to shareholders was RMB 1.48 billion, a 1.30% increase year-over-year.

• Basic and diluted EPS for the nine-month period were RMB 1.9632, up from RMB 1.9381 year-over-year.

Financial highlights

• Operating income for Q3 2024 was RMB 13.27 billion, a 7.12% increase compared to Q3 2023.

• Net cash flow from operating activities was negative RMB 1.03 billion, mainly due to extended customer payment cycles and increased procurement payment pressure.

• Total assets at September 30, 2024, were RMB 34.34 billion, up 5.80% from year-end 2023.

• Shareholders' equity attributable to listed company shareholders was RMB 16.61 billion, up 5.28% from year-end 2023.

• Non-recurring profit and loss items contributed a net loss of RMB 7.78 million for the nine-month period.

Key financial ratios and metrics

• Gross margin for the first nine months was approximately 7.04%.

• Weighted average return on equity for Q3 was 2.94%, down 0.4 percentage points year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.6371, flat year-over-year.