Strategic transformation CDMO yields significant results, TOT BIOPHARM-B's net profit in the first half of the year was RMB 31.559 million, turning losses into profits year-on-year

According to the news from Zhitong Finance APP, Dongyao Pharmaceutical-B (01875) released its performance for the six months ended June 30, 2024. The group achieved revenue of RMB 521 million (same unit below), a year-on-year increase of 58.69%. The profit attributable to equity holders of the company was RMB 31.559 million, compared to a loss of RMB 15.163 million in the same period last year. Earnings per share were RMB 0.04. During the period, product sales revenue was RMB 400.4 million, a 44% increase year-on-year, mainly from the continuous increase in sales volume of the core product Bevacizumab Injection Puxinting®. CDMO/CMO business revenue reached RMB 114 million, a 144% increase year-on-year. The hematopoietic capacity remained strong, with a net cash flow from operating activities of RMB 27.801 million in the first half, maintaining a positive trend. The strategic transformation of CDMO has achieved significant results, and sales of self-developed products have also steadily increased. The company turned losses into profits, with a net profit of RMB 31.559 million in the first half of the year. The company's position in the biopharmaceutical CDMO market continues to rise, with 20 new projects added in the first half of the year, totaling 115 projects. Among the new projects, 17 are ADC; 2 new pre-BLA projects were added, totaling 8 in hand, securing future commercial production. The value of signed but uncompleted orders reached RMB 184 million, a 104% increase year-on-year. The number of visits from domestic and foreign customers continues to rise, and the brand influence continues to expand. The company complies with quality management systems that meet Chinese, American, and European GMP standards, and has been widely recognized in the industry at home and abroad. As of June 30, 2024, it has undergone more than 60 GMP audits, including zero-defect pass of the EU QP audit, direct on-site pass of the official GMP audit in Colombia, as well as passing GMP audits in Indonesia, Egypt, and other countries. In addition, the company has cooperated with customers multiple times to complete inspections by overseas multinational pharmaceutical companies and regulatory agencies, successfully assisting customers in obtaining authorization and receiving high recognition. Continuously strengthening the capabilities of the CDMO team. In order to meet the rapid development of CDMO business, the number of CDMO personnel increased by 29% year-on-year to 492 people, accounting for 86% of the total group personnel. The ADC CDMO team saw a 27% year-on-year increase, strengthening the business focus