Summary by Moomoo AI
The interim financial report of Yun Ding Xin Yao - B (Everest Med-B) for the six months ended June 30, 2024 has been released. The report shows that the company's revenue increased from RMB 8.9 million in the same period of the previous year to RMB 301.5 million, mainly due to the expansion of sales of Yijia® in mainland China and Hong Kong, the listing of Naifu Kang® in mainland China and Singapore, and sales in authorized regions. The gross margin increased from 62.7% to 76.6%, reflecting the impact of new product launches. Research and development expenses decreased compared to the same period last year, while distribution and sales expenses increased due to the expansion of the commercialization team and increased business activities. The net loss for the period increased from RMB 423.6 million to RMB 632.4 million, mainly due to a one-time, non-recurring impairment loss related to intangible assets related to mRNA COVID-19 vaccines. As of the end of the reporting period, cash and cash equivalents and time deposits amounted to RMB 1,925.5 million.
