Hansoh Pharma sees 33.4% profit surge in 2024

Hansoh Pharmaceutical Group (HKEX: 3692) reported a robust financial performance for the year ended December 31, 2024, with revenue reaching approximately RMB12.261 billion, a 21.3% increase year-over-year. Net profit surged by 33.4% to RMB4.372 billion, translating to basic earnings per share of RMB0.74, up 33.3%. The company attributes this growth to the success of its innovative drugs and collaborative products, which accounted for approximately 77.3% of total revenue, amounting to RMB9.477 billion, a 38.1% increase. R&D expenditure rose to RMB2.702 billion, representing 22% of revenue. Hansoh Pharma is recommending a final dividend of HK$13.53 cents per share, pending shareholder approval. The company launched 7 innovative drugs during 2024, and entered a global licensing agreement with Merck Sharp & Dohme LLC ("MSD") to develop, manufacture and commercialize investigational pre-clinical oral small molecule glucagon-like peptide-1 (“GLP-1”) receptor agonist, HS-10535.