Livzon Pharmaceutical (000513) Q4 2024 earnings summary

Executive summary

• 2024 revenue was RMB 11.81 billion, down 4.97% year-over-year; net profit attributable to shareholders was RMB 2.06 billion, up 5.50% year-over-year; core net profit (excluding non-recurring items) was RMB 1.98 billion, up 5.20% year-over-year.

• Cash flow from operations was RMB 2.98 billion, down 8.31% year-over-year; total assets at year-end were RMB 24.46 billion.

• Proposed cash dividend of RMB 11.00 per 10 shares, with no bonus shares or capital increase from reserves.

Financial highlights

• Gross margin increased to 65.45%, up 1.37 percentage points year-over-year.

• Basic and diluted EPS were both RMB 2.24, up from RMB 2.10 last year.

• Weighted average ROE was 14.43%, up 0.43 percentage points year-over-year.

• R&D investment was RMB 1.04 billion, accounting for 8.84% of revenue.

• Overseas revenue reached RMB 1.72 billion, up 9.69% year-over-year, accounting for 14.59% of total revenue.

Outlook and guidance

• 2025 focus on accelerating launches of key products, expanding international markets, and integrating AI into R&D, production, and sales.

• Continued emphasis on compliance, digital marketing, and green manufacturing.