LIVZON GROUP(SZ:000513)2024-08-27 01:33Financial Performance - In the first half of 2024, the company achieved operating revenue of 6.282 billion CNY, a decrease of 6.09% year-on-year [1] - The net profit attributable to shareholders was 1.171 billion CNY, an increase of 3.21% year-on-year [1] - The net profit excluding non-recurring items was 1.155 billion CNY, up 5.65% year-on-year [1] Business Segment Performance - The chemical formulation segment generated revenue of 3.224 billion CNY, down 7.37% year-on-year, with gastrointestinal products declining by 19.96% to 1.301 billion CNY [1] - The raw materials and intermediates segment reported revenue of 1.761 billion CNY, a slight decrease of 1.16% year-on-year, but profit increased [1] - The traditional Chinese medicine segment saw revenue drop by 21.89% to 745 million CNY, primarily due to last year's high base [1] R&D and Product Development - The company made significant R&D progress, including the approval of injection formulations for prostate cancer and endometriosis [2] - New product introductions include innovative drugs in the fields of neurology, anti-infection, and men's health [2] - The company plans to continue building a competitive and differentiated innovation pipeline in the second half of 2024 [2] Market Trends and Challenges - The antiviral granules were significantly impacted by high baseline sales from the previous year due to flu and COVID-19 [2] - The diagnostic reagents and equipment segment achieved revenue of 394 million CNY, a year-on-year increase of 32.33% [2] - The bioproducts segment saw a revenue decline of 22.80% to 88 million CNY [2] Strategic Focus and Future Outlook - The company aims to enhance operational efficiency and compliance in response to industry regulations and market changes [2] - It plans to optimize management and strengthen overseas registration and market development [2] - The company expects to maintain stable revenue or achieve single-digit growth in the coming year, with double-digit profit growth anticipated [3] Shareholder Engagement and Financial Management - As of July 31, 2024, the company repurchased approximately 4.89 million A-shares, with a total expenditure of about 172 million CNY [2] - The company has maintained a high dividend payout ratio, using approximately 80% of its net profit for shareholder returns over the past five years [3]