Summary by Futu AI
innovent bio announced its performance for the first half of 2024, with an increase in revenue of 46.3% and a widening loss of 392.6 million yuan. innovent bio pharmaceuticals (innovent bio) announced its unaudited interim performance for the six months ended June 30, 2024. During the period, the company achieved revenue of 395.23 million yuan from customer contracts, an increase of 46.3% compared to the same period last year. The gross margin increased from 81.3% in the same period last year to 82.9%, reflecting increased production and optimized production costs. Research and development expenses increased to 1399.4 million yuan, a 51.6% increase from the same period last year, mainly to support the company's sustainable growth and global innovation strategic goals. Sales and marketing expenses were 1,879.4 million yuan, accounting for 47.6% of total revenue. The loss for the period was 392.6 million yuan, an increase of 253.5 million yuan from the same period last year, mainly due to a decrease in non-cash item net exchange gains and a decrease in one-time income tax deductions.
