Jointown(SH:600998) Quan Jing Wang·2025-05-08 00:02Core Viewpoint - The company, Jiuzhoutong, showcased its strategic transformation and growth in the traditional Chinese medicine sector during the 2024 annual performance briefing, highlighting significant revenue growth and a comprehensive industry chain approach [1][2]. Company Performance - In 2024, Jiuzhoutong achieved a total revenue of 151.81 billion yuan, with a net profit attributable to shareholders of 2.507 billion yuan, reflecting a year-on-year increase of 39.88% [3]. - The company reported a net profit of 1.814 billion yuan after excluding non-recurring items, marking a year-on-year growth of 14.89% [3]. - For Q1 2025, Jiuzhoutong's revenue reached 42.016 billion yuan, a 3.82% increase compared to the same period last year, with a net profit of approximately 970 million yuan, representing an 80.38% year-on-year growth [3]. Traditional Chinese Medicine Business Development - The traditional Chinese medicine segment generated sales revenue of 4.962 billion yuan in 2024, a year-on-year increase of 18.14%, with a gross profit of 871 million yuan, up 12.22% [1][2]. - The company has established a full industry chain layout in traditional Chinese medicine, focusing on "authentic medicinal materials + intelligent manufacturing + digital services" [1]. Resource Management and Quality Control - Jiuxin Traditional Chinese Medicine has set up nine core authentic medicinal material production areas across the country and invested in 21 specialized companies, managing 250,000 acres of standardized planting bases [2]. - The company has achieved GAP certification for 14 medicinal material bases and has developed a traceability platform for traditional Chinese medicine quality in Hubei Province [2]. Production and R&D Capabilities - Jiuxin Traditional Chinese Medicine has built 13 GMP-certified modern processing enterprises and has established a smart traditional Chinese medicine service with over 6,000 professional decoction devices [2]. - The company has a core R&D team of over 70 members, involved in more than 30 national and provincial key projects, and has formed a patent cluster covering over 200 items [2]. Marketing and Digitalization - The company has expanded its marketing efforts into four major areas: OTC, medical, medicinal materials, and online business, serving over 100,000 downstream clients [2]. - Jiuzhoutong has developed digital systems for quality traceability, smart decoction, and traditional Chinese medicine diagnosis, enhancing the digital management and service capabilities of its traditional Chinese medicine business [3].