Tigermed's 2024 profit drops amid industry shifts
Hangzhou Tigermed Consulting (SZSE:300347) reported a significant drop in net profit for 2024, falling 79.99% to ¥405.14 million, compared to ¥2.02 billion in the previous year. While total revenue decreased by 10.58% to ¥6.60 billion, the company highlighted a 7.3% year-over-year increase in net new contracts, reaching ¥8.42 billion and the volume of in-progress clinical trials increased to 831, showing positive future revenue potential. Key factors contributing to the profit decline include the industry's structural changes, sector competition, and challenges faced by smaller, not-yet-profitable clients. The company notes successful overseas expansion, with significant growth in North America and emphasized efforts in integrated evidence generation and site management to strengthen its market position.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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