China Pharma (US:CPHI)2025-05-14 20:20Revenue Performance - Revenue for the three months ended March 31, 2025, was $1.14 million, a decrease of $0.23 million (16.8%) compared to $1.37 million for the same period in 2024[93] - The "Anti-Viral/ Infection & Respiratory" product category saw a revenue decline of 23% from $0.93 million in Q1 2024 to $0.72 million in Q1 2025, primarily due to decreased sales of Roxithromycin Dispersible Tablet[94] - The "CNS Cerebral & Cardio Vascular" category generated $0.34 million in Q1 2025, an increase of 6% from $0.32 million in Q1 2024[96] Cost and Expenses - Cost of revenue for Q1 2025 was $1.27 million, representing 112% of total revenue, down from $1.66 million (121.2% of total revenue) in Q1 2024[99] - Gross loss for Q1 2025 was $0.14 million, with a gross loss margin of 12%, improved from a gross loss of $0.29 million and a margin of 21.2% in Q1 2024[100] - Selling expenses decreased to $0.09 million in Q1 2025, accounting for 7.7% of total revenue, compared to $0.11 million (7.9%) in Q1 2024[101] - General and administrative expenses increased to $0.51 million in Q1 2025, representing 44.6% of total revenue, up from 35.7% in Q1 2024[102] - Research and development expenses remained stable at $0.03 million for both Q1 2025 and Q1 2024, accounting for 2.6% and 2.3% of total revenues, respectively[103] Net Loss and Operating Loss - The net loss for the three months ended March 31, 2025, was $0.79 million, a decrease from a net loss of $0.96 million for the same period in 2024, primarily due to a decline in costs[113] - The operating loss for the three months ended March 31, 2025, was $0.76 million, compared to an operating loss of $0.92 million in the same period in 2024[111] Cash and Inventory - Cash and cash equivalents were $0.41 million as of March 31, 2025, representing 2.9% of total assets, down from $0.63 million or 4.2% of total assets as of March 31, 2024[116] - Total inventory as of March 31, 2025, was $1.98 million, a decrease from $2.27 million as of December 31, 2024[121] - Net cash used in operating activities was $0.06 million for the three months ended March 31, 2025, compared to $0.59 million for the same period in 2024[120] Trade Accounts Receivable and Credit - As of March 31, 2025, the allowance for credit losses as a percentage of trade accounts receivable was 97.6%, down from 98.3% as of December 31, 2024[108] - The company experienced a credit gain of $1,323 for the three months ended March 31, 2025, compared to $2,066 in the same period in 2024[110] - As of March 31, 2025, total net trade accounts receivable was $0.33 million, an increase of $0.10 million from $0.23 million as of December 31, 2024[120] Market Potential and Product Certification - The total size of China's health service industry is projected to reach RMB 16 trillion (approximately $2.5 trillion) by 2030, indicating significant market potential for Helpson's products[91] - Helpson's N95 medical protective mask received registration certification at the end of 2022 and is now available nationwide in mainland China[91] Share Information and Financing Activities - The number of basic and diluted weighted-average outstanding shares used to calculate loss per share was 3,261,911 for the three months ended March 31, 2025, compared to 1,333,059 for the same period in 2024[114] - Cash flow used by financing activities was $70,033 for the three months ended March 31, 2025, compared to $6,856 provided for the same period in 2024[123]