Tasly: ​​Net profit attributable to parent company in the first quarter was 295 million yuan, a year-on-year increase of 11.58%

In the context of national policies that are favorable to traditional Chinese medicine, Tasly, a leading modern traditional Chinese medicine company, has seized development opportunities and has a good start in 2024.
On the evening of April 25, the 2024 first quarter report released by Tasly (600535) showed that during the reporting period, the company achieved operating income of 2.049 billion yuan; net profit attributable to the parent company was 295 million yuan, a year-on-year increase of 11.58%, and the operating quality remained good.
Tasly, which has firmly established its leading position in the research and development of traditional Chinese medicines, currently has as many as 9 innovative traditional Chinese medicines in Phase III clinical trials, which indicates that the company will gradually launch new products on the market in the next few years and continue to expand the company\’s business growth space.
The announcement of the continued stability of the main business shows that the company\’s operating income in the first quarter reached 2.049 billion yuan, of which revenue from the pharmaceutical industry was 1.809 billion yuan.
The report shows that Tasly’s traditional Chinese medicine segment maintained growth in the first quarter, achieving revenue of 1.441 billion yuan.
The company\’s three major basic medicine products – Compound Danshen Dropping Pills, Qishen Yiqi Dropping Pills, and Yangxue Qingnao Granules (pills) performed well.
Revenue from chemical preparation drugs was 290 million yuan, a year-on-year increase of 11.67%.
According to the report, anti-tumor product revenue increased by 31.74% compared with the same period last year, mainly due to the increase in sales of Diqing during the reporting period, indicating that Diqing has shaken off the impact of centralized procurement and price cuts, and is expected to return to the growth track in the future.
The 2023 annual report of the R&D Empowerment Business Growth Company shows that Tasly has 9 innovative traditional Chinese medicines entering clinical phase III, ranking first in the industry in the number of phase III varieties.
Judging from the scale of the R&D pipeline, Tasly\’s modern traditional Chinese medicine pipeline has 25 products, of which 19 products are in the second and third phases of clinical research, ensuring its position as a leading enterprise in traditional Chinese medicine research and development.
Several brokerage research reports pointed out that this shows that Tasly is entering a period of sustained high production and is expected to gradually launch new products approved for marketing in the next few years.
According to a research report by SDIC Securities, Tasly has abundant reserves in its mid- to late-stage clinical R&D pipeline and is about to enter the batch realization stage.
Everbright Securities (rights protection) research report believes that the company’s innovative traditional Chinese medicine research and development is expected to have a bumper harvest.
This is due to the company\’s strong investment in the research and development of traditional Chinese medicine.
In 2023, Tasly invested 1.315 billion yuan in research and development, a year-on-year increase of 29.49%, accounting for 17.73% of the revenue of the pharmaceutical industry, ranking first in the industry.
According to Wind data, the company has invested a total of 4.503 billion yuan in R&D in the past five years, accounting for 13.32% of the pharmaceutical industry revenue, ranking first in the traditional Chinese medicine industry.
The company not only leads in quantity in the research and development of modern traditional Chinese medicine, but is also clinical value-oriented, focusing on major diseases and areas where clinical needs are urgently needed.
The company\’s 2023 financial report shows that the secondary development of the company\’s key varieties is rapidly advancing. Qishen Yiqi Dropping Pills has increased indications for diabetic nephropathy, Qishen Yiqi Dropping Pills has increased indications for heart failure, and Yangxue Xingnao Pills has increased indications for Alzheimer\’s disease ( Phase II clinical trials for AD) indications are currently enrolling.
The company is also actively exploring the fields of stroke, diabetic nephropathy, Alzheimer\’s disease (AD) and other major diseases, and has broad market prospects in the future.
(Source of the article: China Securities Journal·China Securities Network)