Summary by Futu AI
Viva Biotech Holdings Group (Viva Biotech) announced its interim financial report for the six months ended June 30, 2024, showing a decrease in revenue of about 14% compared to the same period last year, a gross profit decrease of about 16.5%, but a substantial increase in net profit from RMB 13.7 million in the same period last year to RMB 144.2 million. This increase in net profit is mainly due to the elimination of related financial adjustments brought about by the full repayment of convertible bonds, as well as investment income from the successful exits of some incubated enterprises. Viva Biotech continues to maintain a leading position in the industry in drug research services (CRO) and contract development and manufacturing organization (CDMO) business, and actively expands in the international market. During the reporting period, the group continues to advance its technology platform construction and expands in personnel and facilities to support business development. The Board of Directors did not recommend the distribution of interim dividends.