THDB(600867)2024-07-10 12:23Financial Performance - The company expects a net profit of -223.91 million CNY for the first half of 2024, a decrease of 708.71 million CNY compared to the same period last year[1] - The net profit after deducting non-recurring gains and losses is projected to be -8.01 million CNY, down 48.79 million CNY year-on-year[1] - Revenue for the first half of 2024 is estimated at approximately 756.06 million CNY, a decrease of 44.66% compared to the previous year[3] Revenue Decline Factors - The decline in revenue is primarily due to a new round of insulin centralized procurement leading to price reductions, which is expected to decrease revenue by about 538 million CNY[3] - The company will incur a one-time write-off or refund of inventory products due to price differences, reducing revenue by approximately 72 million CNY and net profit by about 61.20 million CNY after tax effects[3] Project Termination Impact - The company has decided to terminate the clinical development of the THDB0207 injection project, resulting in a total impairment of 64.56 million CNY and a loss of 253.52 million CNY related to prepayments[4] - The termination of the project is expected to reduce the net profit for the first half of 2024 by 270.37 million CNY and decrease non-recurring gains and losses by 215.50 million CNY[4] - The company will need to allocate additional development expenses of 50 to 70 million CNY if the project were to continue, which is no longer feasible[4] Market Competition - The company faces increased competition from similar insulin products that are already on the market or will be launched soon, which may pressure product pricing[4] Financial Reporting - The financial data provided is preliminary and subject to final confirmation in the official half-year report[6]