HRPC(SH:600829) Jin Rong Jie·2025-04-12 04:35Core Insights - The company reported a total revenue of 10.048 billion yuan in 2024, a year-on-year decrease of 3.29% [1] - The net profit attributable to shareholders was 213 million yuan, down 27.00% year-on-year, while the net profit after deducting non-recurring items was 199 million yuan, a decline of 30.86% [1] Revenue Breakdown - The pharmaceutical wholesale business generated 8.228 billion yuan in revenue, reflecting a decline of 4.89% due to normalized volume-based procurement, medical insurance cost control, and intensified market competition [4] - The pharmaceutical retail business achieved a revenue of 1.691 billion yuan, marking a growth of 5.67%, with 382 direct stores and over 2.6 million members, although the gross margin decreased due to industry policy changes and market competition [5] Business Performance - The medical services and logistics distribution sectors showed stable development, with the medical service business seeing over 105,000 outpatient visits, and the logistics center handling 5.07 million items throughout the year [6] - Despite the stable performance in medical services and logistics, their contributions to overall revenue and profit were limited, failing to offset the decline in the wholesale business [6] Strategic Responses - The company has implemented strategies such as enhancing marketing efforts, upgrading product matrices, and deepening supplier collaboration to address challenges in the wholesale business [4] - In the retail sector, the company focused on supply chain management, optimizing product structure, and diversifying marketing strategies to boost revenue, particularly through the development of DTP specialty pharmacies [5]