Gelonghui, May 27丨Shiyao Group (01093.HK) announced that for the three months ending March 31, 2024, revenue was RMB 8.983 billion, an increase of 11.5% over the same period last year. Basic profit attributable to shareholders was RMB 1,724 million, an increase of 11.6% over the same period last year, and basic earnings per share were RMB 13.61 cents.

During the reporting period, proprietary pharmaceutical business revenue was RMB 7.561 billion, an increase of 17.7% over the previous year. With the exception of respiratory systems, product revenue in all treatment fields has increased over the same period last year, and contributions from new products launched in recent years have also continued to increase. Raw materials business revenue was RMB 935 million, a year-on-year decrease of 8.0%. Sales revenue from vitamin C products decreased by 11.8% to RMB 486 million due to falling demand. Sales revenue from antibiotic products remained stable, decreasing slightly by 3.6% to RMB 449 million. Revenue from the functional food and other businesses decreased by 21.0% to RMB 486 million, mainly affected by falling prices of caffeine products.

In addition, R&D expenses for the first quarter of 2024 were RMB 1,169 million, an increase of 16.0% over the same period last year, accounting for about 15.5% of the proprietary drug business revenue. Currently, more than 60 key drugs under development have entered the clinical or application stage. Of these, 7 have submitted marketing applications and 20 are in the clinical registration stage.