Core Viewpoint - 康臣药业 reported a significant increase in revenue and profit for the first half of 2025, driven by strong sales across various product lines and improved gross margins due to lower raw material costs [1][2]. Financial Performance - Revenue for the six months ending June 30, 2025, was RMB 1.569 billion, an increase of approximately 23.7% year-on-year [1]. - Profit attributable to equity shareholders was RMB 498 million, reflecting a year-on-year increase of about 24.6% [1]. - Basic and diluted earnings per share were approximately RMB 0.59 and RMB 0.58, respectively [1]. - The proposed interim dividend is HKD 0.33 per share [1]. Gross Margin Analysis - Gross profit for the first half of 2025 was RMB 1.209 billion, up approximately 27.6% from RMB 948 million in the same period of 2024 [1]. - The average gross margin was about 77.1%, an increase of 2.4 percentage points from 74.7% in the previous year, primarily due to a decrease in the procurement prices of traditional Chinese medicine raw materials [1]. Product Line Performance - Sales of nephrology products grew approximately 28.0% year-on-year, with尿毒清 remaining the flagship product and maintaining market leadership [2]. - Sales of pediatric and women's products increased by about 17.5%, becoming the second-largest revenue contributor [2]. - Sales of medical imaging contrast agents rose by approximately 22.0% [2]. - Sales in the orthopedic series grew by about 2.1% [2]. - Sales of skin products increased by approximately 19.7% [2]. - Sales in the liver and gallbladder series grew by about 4.6% [2]. - Other pharmaceuticals saw a sales increase of approximately 5.4% [2]. - Overall sales growth was attributed to the company's ongoing efforts to expand product markets and develop sales networks across the country [2].
康臣药业(01681.HK)上半年纯利增长24.6%至4.98亿元，毛利率升至77.1%，拟派中期股息每股0.33港元