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Zhejiang Huahai Pharmaceutical (600521): Performance close to the upper limit of the forecast, highlighting the resilience of the industry leader.
In the first three quarters of 2024, zhejiang huahai pharmaceutical achieved a revenue of 7.248 billion yuan, an increase of 16.76% year-on-year; net income attributable to shareholders was 1.031 billion yuan, an increase of 42.92% year-on-year; net income attributable to shareholders after deducting non-recurring gains and losses was 1.033 billion yuan, an increase of +.
Express News | Zhejiang Huahai Pharmaceutical: Obtained the pharmaceutical registration certificate for methotrexate injection.
Subsidiary's slow research and development progress questioned, zhejiang huahai pharmaceutical responded: "More than 10 products have entered the clinical research stage" | Direct hit on earnings conference
①At the earnings conference, zhejiang huahai pharmaceutical's research and development pipeline progress was questioned by investors, to which the company's secretary to the board, Zhu Yonghua, introduced the situation of the ongoing pipeline. ②On the zhejiang huahai pharmaceutical side, influenced by factors such as growth in original research big clients, revenue from active pharmaceutical ingredient and formulation business has increased in the first three quarters of this year.
gf sec: The upstream prices of penicillin and cephalosporin are fluctuating at high levels, while the active pharmaceutical ingredient is stabilizing at a low point.
According to data from the National Bureau of Statistics, the year-on-year PPI value for the manufacturing of active pharmaceutical ingredients in September 2024 is 97.10, an increase of 2.0 compared to the previous month, and up 1.63 from the average of 95.47 in the first half of 2024. Since the year-on-year PPI for active pharmaceutical ingredient manufacturing fell below 100 in the entire year of 2023, the recent PPI values have been on the rise, indicating that the overall price of active pharmaceutical ingredients is in a slight recovery phase after reaching a low.
Pacific Securities: Q3 revenue and profit growth of the active pharmaceutical ingredient sector have accelerated significantly, bullish on the high growth trend in Q4 performance.
In Q1 2024, the sector's gross margin is 36.38%, with a net margin of 12.78%. Q2 gross margin is 37.21%, with a net margin of 15.52%. Q3 gross margin is 38.27%, +1.88pct year-on-year, +1.06pct quarter-on-quarter, and net margin is 14.07%, +3.98pct year-on-year, -1.45pct quarter-on-quarter. Both gross margin and net margin have reached a new high compared to the same period in the past three years.
Express News | Zhejiang Huahai Pharmaceutical: Obtained the registration certificate for linagliptin and metformin hydrochloride tablets
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