HVSEN BIOTECH(SZ:300871)2024-08-28 09:35Financial Performance - The company's revenue for the first half of 2024 was CNY 43,630.37 million, a decrease of 2.85% year-on-year [2] - The net profit attributable to shareholders decreased by 426.32% to CNY -5,187.87 million [2] - The gross profit margin for the company's raw materials increased by 5.86% year-on-year [3] Research and Development - R&D expenses increased by 37.53% year-on-year, with plans to submit 20 new veterinary drug applications, of which 7 have been completed [3] - The company has obtained 2 new veterinary drug certificates and 3 comparative drug certificates this year [3] Market and Sales - The sales revenue of chemical drug formulations decreased by 16.24% year-on-year, while raw material drug sales revenue increased by 56.69% [2] - The company’s export business grew by 221.35% year-on-year [4] Debt and Financial Stability - As of June 30, 2024, the company had CNY 5.56 billion in cash and trading financial assets, sufficient to cover the upcoming convertible bond repayment [4] - The company is actively seeking growth through various means while focusing on cost reduction to enhance profitability [4] Strategic Developments - The actual controllers of the company fully subscribed to the A-share issuance for 2024, indicating confidence in the company's future [4] - The construction of the Vietnam production base is progressing well, with the main infrastructure completed and equipment installation underway, expected to be operational in Q4 2024 [4]