Tianjin Pharma posts 11 % net profit rise in Q3 2024

The group’s Chinese medicine segment primarily drove revenue, which contributed $807.8m.

Tianjin Pharmaceutical Da Ren Tang Group posted an 11% year-on-year (YoY) rise in net profit to $26.3m (RMB 141.9m) for Q3 2024, its bourse filing showed.

Revenue for the quarter was $304.5m (RMB 1.64b), reflecting a 3% decline from $315.7m (RMB 1.7b) in the same period in 2023. For the nine-month period, revenue totaled approximately RMB 5.6 billion, down 3.1% year-on-year due to weaker commercial sales.

The group’s Chinese medicine segment primarily drove revenue, which contributed $807.8m (RMB 4.35b). In comparison, the western medicine segment brought in $170.5m (RMB 918.2m), with other medicines contributing $69m (RMB 341.75m).

During the period, the company deregistered its wholly-owned subsidiary, Tianjin Zhongxin Chuyun Trading Co., Ltd., and acquired a 15% equity interest in Tianjin Pharmaceutical Group Finance Co. for $16.3m (RMB 87.82m).

As of September, the group’s dividend rate stands at $0.24 (RMB 1.28) per ordinary share.

(RMB 1 = $0.19)

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