Summary by Futu AI
CSPC Pharma announced its unaudited comprehensive performance for the nine months ended September 30, 2024, showing a total revenue of RMB 22.686 billion, a 4.9% decrease from the same period last year. Among them, revenue from pharmaceutical business decreased by 3.5%, raw material products by 5.2%, and functional foods and others by 21.9%. Shareholder's share of basic profit decreased by 15.2% to RMB 3.999 billion, and shareholder's share of profit decreased by 15.9% to RMB 3.778 billion. Research and development expenses increased by 5.5% to RMB 3.88 billion compared to the same period last year, accounting for approximately 20.8% of pharmaceutical business revenue. During this period, CSPC Pharma obtained approvals for new drugs in both China and North American markets and conducted multiple clinical trials globally. Additionally, the company entered into an exclusive licensing agreement with Jiangsu KonRun Jerui in September 2024 and with AstraZeneca in October for the global development, manufacturing, and commercialization of a range of pharmaceutical products. The company believes that non-Hong Kong Financial Reporting Standards indicators can better reflect the group's fundamental operational performance.