TRAD CHI MED: Annual Report 2024

TRAD CHI MED announced its performance for the year 2024, achieving revenue of 16.51 billion yuan, a year-on-year decrease of 8.9%; gross profit of 7.856 billion yuan, a year-on-year decrease of 15.3%; and profit attributable to Shareholders of 54.07 million yuan, a significant decrease of 96% year-on-year. Basic earnings per share were 1.07 cents, down 95.8% year-on-year.The decline in performance was mainly influenced by three factors: revenue from formula granule business decreased 23.5% to 6.972 billion yuan, accounting for 42.2% of revenue; revenue from traditional Chinese medicine pieces business decreased 25.3% to 1.387 billion yuan, accounting for 8.4% of revenue; gross margin fell from 51.2% to 47.6%. Among them, the gross margin of the formula granule business decreased by 8.6 percentage points to 56.9%, mainly affected by rising raw material...Show More

TRAD CHI MED announced its performance for the year 2024, achieving revenue of 16.51 billion yuan, a year-on-year decrease of 8.9%; gross profit of 7.856 billion yuan, a year-on-year decrease of 15.3%; and profit attributable to Shareholders of 54.07 million yuan, a significant decrease of 96% year-on-year. Basic earnings per share were 1.07 cents, down 95.8% year-on-year.The decline in performance was mainly influenced by three factors: revenue from formula granule business decreased 23.5% to 6.972 billion yuan, accounting for 42.2% of revenue; revenue from traditional Chinese medicine pieces business decreased 25.3% to 1.387 billion yuan, accounting for 8.4% of revenue; gross margin fell from 51.2% to 47.6%. Among them, the gross margin of the formula granule business decreased by 8.6 percentage points to 56.9%, mainly affected by rising raw material costs.The company is actively promoting business transformation and upgrade, with revenue from the traditional Chinese medicine preparations business growing 17.9% to 3.315 billion yuan, accounting for 20.1% of revenue; revenue from the health products business grew 14.0% to 4.553 billion yuan, accounting for 27.6% of revenue. The company continues to increase its investment in research and development, with annual R&D expenditures of 0.539 billion yuan, accounting for 3.3% of revenue, and has completed the development of multiple new products and technical innovation projects.