JINGXIN(002020)2024-08-16 06:14Financial Performance - Revenue for the first half of 2024 reached 2.15 billion yuan, an increase of 11.02% year-over-year [4] - Finished drug revenue: 1.301 billion yuan, up 17.13% [4] - API revenue: 501 million yuan, up 5.66% [4] - Medical device revenue: 312 million yuan, up 0.46% [4] - Net profit attributable to shareholders: 402 million yuan, up 27.28% [4] - Non-GAAP net profit: 334 million yuan, up 15.19% [4] Sales and Marketing - Sales expenses decreased by 3.63% to 384 million yuan in H1 2024, with the sales expense ratio dropping by 2.72 percentage points [4] - The company has been focusing on improving sales efficiency and optimizing the internal structure of sales expenses [4] - The launch of Didansine (Jingnuoning®) in March 2024 has led to over 30 academic promotion events and the development of more than 200 hospitals [4] R&D and Innovation - JX11502MA capsule and Kangfuxin enteric-coated capsule are in Phase II clinical trials [4] - JX2105 capsule has obtained clinical approval and is progressing smoothly in Phase I trials [4] - Over 10 other R&D projects are in progress [4] International Business - Formulation export business grew by over 30% in H1 2024, driven by capacity expansion and the completion of 9 technology transfer projects [4] - The company is focusing on expanding its presence in European and American markets, as well as emerging markets, while building its own brand [4] Operational Adjustments - The company restructured its sales model in 2023, merging hospital and retail divisions, which has shown positive results since Q3 2023 [4] - The company aims to deepen its presence in hospital markets and accelerate retail business through strategic partnerships with chain pharmacies [4] Depreciation and Amortization - The company expects a significant amount of depreciation and amortization in 2024 due to the completion of several production bases [4] - The company plans to mitigate the impact of depreciation and amortization through increased sales revenue [4]