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Zhejiang Tianyu Pharmaceutical (300702): Achieved recovery growth in Q3, bullish on elasticity for 25 years.
In the first three quarters of 2024, the company achieved a revenue of 1.932 billion yuan, a year-on-year growth of 3.61%; net income attributable to the parent company was 0.085 billion yuan, a year-on-year growth of 23.72%; non-net income attributable to the parent company was 0.091 billion yuan, a year-on-year decrease.
zhejiang tianyu pharmaceutical (300702): Short-term pressure on profitability, promoting integrated layout.
Summary of this report: Gross margin under short-term pressure, integration of active pharmaceutical ingredient and formulation business as well as CDMO business continues to advance, the integrated transformation is expected to gradually materialize. Investment highlights: Maintain a "cautious shareholding" rating. Revenue for Q1-Q3 2024 was 1.932 billion.
zhejiang tianyu pharmaceutical (300702): performance meets expectations, domestic formulations enter a period of volume growth
Subject: Recently, the company released the third quarter report for 2024. In the first three quarters of 24, it achieved revenue of 1.932 billion yuan (+3.61%), net income attributable to the mother 0.085 billion yuan (+23.72%), non-net profit attributable to the mother 0.
Zhejiang Tianyu Pharmaceutical (300702): The operating trend is improving compared to the previous period, and it is expected to usher in a turning point in performance.
Event: The company released the third quarter report for 2024, achieving revenue of 1.932 billion yuan in the first three quarters, a year-on-year increase of 3.61%, net income attributable to equity holders of 0.085 billion yuan, a year-on-year increase of 23.72%, and non-GAAP net income of 0.91 billion.
Ping An Securities: The supply and demand relationship of active pharmaceutical ingredients continues to improve, and the integration of formulations contributes to long-term growth.
According to IQVIA data, from 2024 to 2028, the global pharmaceutical sales facing patent cliffs and losses are approximately $192 billion, presenting development opportunities for generic and related specialty active pharmaceutical ingredient companies.
Tianyu Co., Ltd.: Report for the third quarter of 2024
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