Chongqing Zhifei Biological Products Second Quarter 2024 Earnings: Misses Expectations

Chongqing Zhifei Biological Products (SZSE:300122) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥6.86b (down 48% from 2Q 2023).
• Net income: CN¥776.6m (down 65% from 2Q 2023).
• Profit margin: 11% (down from 17% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.32 (down from CN¥0.93 in 2Q 2023).

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

Chongqing Zhifei Biological Products Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 46%. Earnings per share (EPS) also missed analyst estimates by 58%.

Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Biotechs industry in China.

Performance of the Chinese Biotechs industry.

The company's shares are up 3.5% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Chongqing Zhifei Biological Products that you should be aware of.

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