JENKEM(SH:688356)2024-09-03 07:54Financial Performance - The company's revenue for the first half of 2024 was 129 million CNY, a decrease of 24.99% compared to the same period last year [4] - The net profit attributable to shareholders was 27.94 million CNY, down 59.06% year-on-year [4] - International drug sales increased by 73.38% during the reporting period [5] Research and Development - R&D expenses amounted to 27.95 million CNY, representing 21.73% of total revenue [5] - The company submitted 18 new patent applications and received 5 new authorizations during the reporting period [5] Client and Market Dynamics - Revenue from major domestic clients decreased by 45% [7] - The company has two international new drug projects in the BLA stage, which are expected to positively impact future performance [6] - The current order backlog is 93.49 million CNY, with domestic orders accounting for over 22 million CNY (approximately 24%) and international orders over 71 million CNY (approximately 76%) [9] Production and Capacity - The Panjin factory is currently in trial production, with depreciation costs for the first half of 2024 exceeding 7 million CNY [8] - The company anticipates that the Panjin factory will significantly reduce overall costs once it reaches full production capacity [12] Pricing and Competition - Domestic product prices are under pressure due to increased cost sensitivity among clients and competitive pricing strategies [8] - The gross margin for domestic products remains around 70%, while international products have a gross margin of approximately 65% [8] Future Outlook - The company is focusing on enhancing production management, quality control, and product development to navigate current market challenges [6] - There is optimism regarding the potential of new applications in the ADC and PDC fields, which are expected to contribute positively to future revenue [12]