Jinhe Biotechnology(002688) 证券时报网·2024-10-27 13:14Core Viewpoint - Jinhe Biological reported a significant increase in net profit and revenue for Q3 2024, driven by strong demand from major clients and international market expansion [1][2] Financial Performance - For the first three quarters of 2024, the company achieved revenue of 1.657 billion yuan, a year-on-year increase of 5.57% [1] - The net profit attributable to shareholders reached 114 million yuan, up 10.38% year-on-year [1] - Operating cash flow amounted to 380 million yuan, reflecting a substantial growth of 122.90% [1] - In Q3 alone, the net profit attributable to shareholders was 22.74 million yuan, marking a 65.92% increase compared to the same period last year [1] Business Segments - The company focuses on animal health, with a dual-driven model of veterinary pharmaceuticals and vaccines, supported by environmental protection and agricultural product processing [1] - In the veterinary pharmaceutical sector, Jinhe Biological is the largest producer of feed-grade chlortetracycline globally, with an annual production capacity of 55,000 tons [1] - The company is expanding its production capacity with a new project that will add 60,000 tons of capacity [1] - The vaccine segment includes competitive product lines for pigs, ruminants, pets, and diagnostic reagents, with 16 products already on the market and over 20 in development [1] Market Expansion - Jinhe Biological is actively expanding its international market presence, with a sales network covering key global markets, particularly in the United States, Canada, Mexico, South America, Europe, Southeast Asia, India, and Vietnam [1] - The company aims to leverage synergies by expanding its veterinary pharmaceutical sales network to include veterinary vaccines [2] - The company aspires to become a technology-driven, scale-leading animal health company within the next 5-10 years, providing high-quality products and services to global customers [2]