Zhejiang Medicine (600216.SH) released its semi-annual report for 2024. During the reporting period, the company achieved operating revenue of 4.405 billion yuan, a year-on-year increase of 11.87%. Net income attributable to shareholders of the listed company was 0.315 billion yuan, a year-on-year increase of 15.82%. Net income attributable to shareholders of the listed company excluding non-recurring gains and losses was 0.317 billion yuan, a year-on-year increase of 32.56%. Basic earnings per share were 0.33 yuan per share.

During the reporting period, the company was listed as a Zhejiang export famous brand by the Zhejiang Provincial Department of Commerce. It was listed in the TOP 100 China Pharmaceutical Enterprises for the year 2023 (ranked 25th) and selected for the 1+4 list of private enterprises in Shaoxing (the top 100 private enterprises, the top 30 in manufacturing industry, tax payment, R&D investment, and employment).

The company has always focused on its core business, demonstrating distinct industrial characteristics and concentrated competitive advantages, effectively avoiding potential risks. In the field of life nutrition products, the company has built a complete industry chain and formed a diversified product system. At the same time, the integrated strategy of active pharmaceutical ingredients and preparations has significantly enhanced the company's overall competitiveness, especially in the current context of volume-based procurement, this advantage is particularly crucial.

In the life nutrition products sector, the company's leading products, vitamin A and vitamin E, have seen a gradual recovery in demand and price. At the same time, the company continues to promote technological progress, optimize product series, and adjust production capacity structure. Changhai Biological Co., Ltd. has successfully achieved its semi-annual production and operation targets, and Kunming Pharmaceutical Co., Ltd. has made smooth progress in undertaking production capacity projects. Foryoung Global Biotech Co., Ltd. and Zhongxian Bioengineering are continuously optimizing their biotechnological processes.

In the pharmaceutical manufacturing sector, sales of formulated products have achieved growth. The company is steadily advancing its industrial restructuring and streamlining its research and development pipeline. Xinchang Pharmaceutical Factory, a subsidiary, is carrying out product relocation as planned. Innovative Biotech, a subsidiary, is steadily advancing the new formulation base project, undertaking formulation capacity, promoting the export sales of formulated products, and continuing to develop channels and product categories for health products. Changhai Pharmaceutical Co., Ltd. is firmly promoting the improvement and optimization of its internal quality management system, gradually advancing product registration certification, and undertaking the transfer of active pharmaceutical ingredients. Xinma Biotech Co., Ltd. is finely operating in the harsh winter of innovative drugs, improving research and development efficiency, and advancing existing innovative drug research and development.