Sinopharm Group (1099) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was RMB596.57 billion or RMB584.51 billion, a year-over-year decrease of 2.02%.

• Net profit attributable to owners fell 22.14% year-over-year to RMB7.05 billion; total profit was RMB10.42 billion, down 30.55%.

• Basic earnings per share was RMB2.26, a 22.07% decrease from the prior year.

• The business maintained steady development and focused on digital transformation, compliance, and operational efficiency amid industry and policy changes.

Financial highlights

• Gross profit margin declined to 7.57% from 8.13% year-over-year; gross profit was RMB44.26 billion, down 8.77%.

• Net profit margin dropped to 1.78% from 2.52% year-over-year.

• Net cash from operating activities decreased by RMB5.63 billion to RMB11.55 billion.

• Gearing ratio improved to 67.75% from 68.62%.

• Final dividend proposed at RMB0.68 per share, totaling approximately RMB2.12 billion.

Outlook and guidance

• Plans to expand regional penetration, grass-roots market share, and primary medical services in pharmaceutical and medical device distribution.

• Focus on differentiated strategies, digital transformation, green logistics, and sustainable development.

• Retail pharmacy to deepen dual-brand strategy and enhance specialty pharmacy profitability.