Livzon Pharmaceutical (000513) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was RMB 6,282.35 million, down 6.09% year-over-year; net profit attributable to shareholders rose 3.21% to RMB 1,170.97 million.

• Excluding non-recurring items, net profit attributable to shareholders increased 5.65% year-over-year to RMB 1,155.47 million.

• Operating cash flow increased 24.67% year-over-year to RMB 1,530.03 million.

Financial highlights

• Gross margin improved to 65.96%, up 1.87 percentage points year-over-year.

• Basic and diluted EPS were RMB 1.27, up 4.10% year-over-year.

• Total assets at period end were RMB 25,575.96 million; net assets attributable to shareholders were RMB 13,919.89 million.

• Asset-liability ratio increased to 42.89% from 41.04% at year-end 2023.

Outlook and guidance

• Focus remains on innovation, R&D, and international expansion, with continued investment in high-barrier and differentiated products.

• The company will continue to optimize product structure, enhance digital transformation, and strengthen supply chain risk management.

• No interim dividend for H1 2024; 2023 year-end dividend of RMB 13.50 per 10 shares was paid.