CanSino Biologics revenue jumps 137% despite ongoing losses

CanSino Biologics Inc. (HKEX: 6185) announced a 137.01% increase in total revenue to RMB 846.34 million for the year ended December 31, 2024. The surge was primarily driven by strong sales of its ACYW135 Meningococcal Polysaccharide Conjugate Vaccine (MCV4), the only such vaccine in the Chinese market. Despite the revenue growth, the company reported a net loss attributable to shareholders of RMB 378.88 million, a decrease from the previous year's loss. The company attributes the reduced losses to optimized resource allocation, cost-saving measures, and improved operational efficiency, with administrative and research and development expenses declining, The company has also optimized its resource allocation and implemented continuous cost-saving and efficiency-enhancing measures, as well as improvements in production and sales coordination. As of December 31, 2024, the Group's total assets stood at approximately RMB 7,958.13 million.