Joincare(600380) 新京报·2025-04-08 14:22Core Viewpoint - Health元 has reported a decline in both revenue and net profit for the second consecutive year, indicating ongoing challenges in its business operations [2][4]. Financial Performance - For the reporting period, Health元 achieved operating revenue of 15.619 billion yuan, a decrease of approximately 6.17% year-on-year [2]. - The net profit attributable to shareholders was 1.387 billion yuan, down about 3.90% compared to the previous year [2]. - Excluding contributions from丽珠集团 and丽珠单抗, Health元's revenue was 4.140 billion yuan, a decline of approximately 9.13%, with net profit dropping by about 31.83% to 630 million yuan [3]. Business Segment Performance - The chemical preparations segment faced revenue declines due to high base effects from 2023, inclusion in centralized procurement, and price reductions in medical insurance [3]. - The raw materials and intermediates segment also saw a slight revenue decrease due to price drops and intensified market competition [3]. - The traditional Chinese medicine segment experienced a revenue decline as market demand receded following the high sales during the COVID-19 pandemic [3]. Key Subsidiaries -丽珠集团 (excluding丽珠单抗) reported operating revenue of 11.766 billion yuan, down about 6.03%, contributing a net profit of approximately 1.064 billion yuan to Health元 [4]. - Conversely,丽珠单抗 reported a loss, negatively impacting Health元's net profit by about 291 million yuan [4]. Highlighted Business Areas - The health food segment remains a bright spot for Health元, with revenue growth of 61.56% in 2023, reaching 196 million yuan [6]. - In 2024, the health food and OTC segments achieved revenue of 697 million yuan, a year-on-year increase of approximately 53.91% [6]. Market Strategy - Health元 is focusing on respiratory medications and has participated in national centralized procurement to expand its market presence [7]. - Despite winning bids in national procurement, the respiratory segment's revenue fell by about 36.98% to 1.097 billion yuan in 2024 [7]. Research and Development - R&D expenses for Health元 decreased to 1.435 billion yuan, down 13.62% year-on-year [8].