PHARMARON(300759)2025-03-27 11:00Performance Overview - Revenue for 2024 reached RMB 12,276 million, with a year-over-year growth of 6.4%. The second half of 2024 saw revenue of RMB 6,671 million, growing 13.1% year-over-year [13] - Net profit for 2024 was RMB 1,793 million, reflecting a year-over-year increase of 12.0% [13] - Non-IFRS adjusted net profit was RMB 1,607 million, showing a year-over-year decline of 15.6% [13] - New purchase orders (POs) increased by over 20% year-over-year [13] Segment Highlights - The company has over 900 new customers and more than 3,000 active customers, including all of the top 20 global pharmaceutical companies [14] - The company operates 21 R&D and manufacturing facilities across China, the UK, and the US, providing integrated services for small molecules (SM), large molecules (LM), and cell and gene therapy (CGT) [14] - The company has a rich pipeline with 781 drug discovery projects, 1,062 clinical research organization (CRO) projects, and 24 CGT release testing projects [14] Financial Highlights - Revenue composition for 2024: 87% from China entities and 13% from overseas subsidiaries [17] - Revenue from laboratory services accounted for 57%, small molecule CDMO services for 24%, clinical development services for 15%, and biologics & CGT services for 3% [17] - North America contributed 64% of revenue, Europe 19%, and China 15%, with North America revenue growing 6.1% and Europe 23.2% year-over-year [18] Future Outlook - The company expects to deliver 10-15% revenue growth in 2025, driven by improved customer demand and recovery signs in purchase orders [41] - The company aims to enhance its fully integrated services platform to support pharmaceutical R&D and manufacturing needs [41]