Beijing Wantai Biological Pharmacy Enterprise Second Quarter 2024 Earnings: Misses Expectations

Beijing Wantai Biological Pharmacy Enterprise (SHSE:603392) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥613.5m (down 52% from 2Q 2023).
• Net income: CN¥134.8m (down 71% from 2Q 2023).
• Profit margin: 22% (down from 36% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.11 (down from CN¥0.36 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Beijing Wantai Biological Pharmacy Enterprise Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 27%. Earnings per share (EPS) also missed analyst estimates by 37%.

Looking ahead, revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Biotechs industry in China.

Performance of the Chinese Biotechs industry.

The company's shares are up 5.1% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Beijing Wantai Biological Pharmacy Enterprise's balance sheet health.

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