HVSEN BIOTECH(300871)2024-08-30 09:43Financial Performance - The company achieved operating revenue of 436.30 million yuan in the first half of 2024, a decrease of 2.85% year-on-year [2] - The net profit attributable to shareholders was -51.88 million yuan, a decline of 426.32% year-on-year [2] - The net profit after deducting non-recurring gains and losses was -24.30 million yuan, also showing a significant decrease [2] - The sales revenue of chemical drug formulations decreased by 16.24%, while the gross profit margin for chemical drugs fell by 3.29% [2] - Despite a sluggish demand, the sales revenue of raw materials increased by 56.69% [2] Research and Development - R&D expenses increased by 37.53% year-on-year, with plans to submit 20 new veterinary drug applications in 2024 [3] - The company has completed 7 new veterinary drug applications and 4 comparative drug applications [3] - The company obtained 2 new veterinary drug certificates and 3 comparative drug certificates in 2024 [3] Cost Management - The gross profit margin for raw materials increased by 5.86% due to improved fermentation levels and optimized processes [3] - The company is focused on continuous cost reduction and efficiency improvement in raw material projects [4] Market Expansion - The company is actively expanding its overseas business, with exports increasing by 221.35% year-on-year [4] - The construction of the Vietnam production base is progressing well, with completion expected in Q4 2024 [4] Financial Stability - As of June 30, 2024, the company had cash and cash equivalents totaling 556 million yuan, sufficient to cover the upcoming convertible bond repayment [4] - The company is exploring various methods to enhance profitability and reduce costs [4] Shareholder Engagement - The actual controllers fully subscribed to the company's A-share issuance for 2024, indicating confidence in the company's future development [4]