Shenlian Bio reports revenue increase amid cost challenges

Shanghai Shen Lian Biomedical Corporation (SSE:688098) reported FY24 revenue of CNY 303.41 million, a slight increase of 0.64% year-over-year, despite higher production costs and industry competition. The company's net profit attributable to shareholders was CNY -44.74 million, a significant downturn, and the board does not recommend a dividend payment but will continue existing plans to repurchase shares. Amid this mixed financial performance, Shen Lian continues to invest heavily in R&D, with expenditures reaching CNY 49.35 million, or 16.11% of revenue. Key projects include vaccine development, new production lines and technological advancements in mRNA and viral technologies. Shen Lian's asset value increased to CNY 1,560.66 million, and to the the R&D sector has a strong foundation, ensuring long term success. The company plans to hold its annual shareholders meeting in April 2025.