TIANDA PHARMA announced its 2024 performance, with a loss attributable to shareholders of HKD 61.371 million, an increase of 1.54 times year-on-year
TIANDA PHARMA announced its 2024 performance, with revenue of approximately HKD 330 million, a year-on-year decrease of 37.99%; the loss attributable to shareholders was HKD 61.371 million, a year-on-year increase of 1.54 times, with a loss per share of HKD 0.0285. Revenue from the pharmaceuticals and medical technology business was HKD 283.9 million, down 39.7%. Revenue from traditional Chinese medicine business fell to HKD 27.1 million due to intense market competition. Revenue from medical and healthcare services increased to HKD 19 million
According to the Zhitong Finance APP, TIANDA PHARMA (00455) announced its 2024 performance, with revenue of approximately HKD 330 million, a year-on-year decrease of 37.99%; the company's loss attributable to shareholders was HKD 61.371 million, a year-on-year increase of 1.54 times; the loss per share was HKD 0.0285.
In the pharmaceutical and medical technology business, revenue for the year was HKD 283.9 million, down 39.7% compared to the previous fiscal year. During the COVID-19 pandemic, end-users stockpiled pediatric medication Toren® Ibuprofen, and this year the market is digesting inventory, leading to reduced product demand; another major product, cardiovascular medication Topin® Valsartan capsules, was also affected by new competitors entering the collective procurement in Jiangsu Province in 2024 with low-price bidding strategies, impacting Topin® sales.
In the traditional Chinese medicine business, due to intense market competition, the group adopted a more conservative strategy, selecting viable and potential varieties for operation and integrating the sales team, resulting in a decline in revenue for the year to HKD 27.1 million (previous fiscal year: HKD 48.4 million). Due to ongoing losses in the traditional Chinese medicine business, an impairment of HKD 1.3 million was made for the goodwill of TIANDA Traditional Chinese Medicine (China) this year. The medical and healthcare services segment showed steady growth, with the opening of the Jordan TIANDA Pavilion in Hong Kong in October 2024, generating revenue of HKD 19 million (previous fiscal year: HKD 13 million)
