Jointown(SH:600998) Jing Ji Guan Cha Bao·2025-04-28 14:39Core Viewpoint - The company, Jiuzhoutong, reported a revenue of 151.81 billion yuan for 2024, with a net profit of 2.51 billion yuan, indicating a strategic transformation focusing on high-quality development through the "Three New and Two Transformations" strategy [2][5]. Financial Performance - In 2024, Jiuzhoutong achieved a revenue of 1518.10 billion yuan, with a year-on-year growth of 2.58% after adjusting for seasonal factors. The net profit attributable to shareholders increased by 39.88% to 2.51 billion yuan, while the net profit excluding non-recurring items rose by 14.89% to 1.81 billion yuan [2][3]. - For Q1 2025, the company reported a revenue of 420.16 billion yuan, a 3.82% increase year-on-year, and a net profit of approximately 970 million yuan, reflecting an 80.38% growth compared to the same period last year [2]. Strategic Transformation - Jiuzhoutong is focusing on a strategic transformation that includes new products, new retail, new medical services, digitalization, and real estate securitization, collectively referred to as "Three New and Two Transformations" [2][5]. - The company is enhancing its core competitiveness in product introduction, C-end channel construction, digital technology development, and asset operation models [5][6]. Core Business Development - The core pharmaceutical distribution business is experiencing stable growth, with emerging sectors such as industrial self-production, OEM, traditional Chinese medicine, and digital logistics showing growth rates around 20% [3][4]. - The industrial self-production and OEM segment achieved sales of 5.92 billion yuan, a 26.92% increase, while the traditional Chinese medicine segment reported sales of 22.86 billion yuan, up 21.45% [3]. Digital and Logistics Innovations - Jiuzhoutong has established a complete industry chain for traditional Chinese medicine, achieving sales of 4.96 billion yuan, an 18.14% increase, and has developed digital systems for quality tracking and smart manufacturing [4]. - The digital logistics and supply chain solutions segment generated revenue of 1.06 billion yuan, a 25.32% increase, with a gross profit of 236 million yuan, up 17.08% [4]. Future Outlook - The company views 2025 as a critical year for the implementation of its three-year strategic plan and aims to continue advancing the "Three New and Two Transformations" strategy while focusing on talent acquisition [7].