Sinopharm (000028.SZ) announced 2024 annual results, with net profit of 642 million yuan to mother, a decrease of 59.83%

According to the Zhitong Finance App, Sinopharm (000028.SZ) released its 2024 annual report. The company's revenue was 74.378 billion yuan, a decrease of 1.46% over the previous year. Net profit attributable to shareholders of listed companies was 642 million yuan, a year-on-year decrease of 59.83%. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 581 million yuan, a year-on-year decrease of 62.08%. Basic earnings per share were $1.15.

According to the announcement, the decline in the company's profit was mainly due to a combination of factors such as changes in industry policy and increased market competition. As a result, there was a large gap in the operating performance of the acquired asset group compared to expectations. According to impairment test results, based on the principle of prudence, the company calculated impairment provisions of 970 million yuan for intangible assets (brand usage rights and sales networks) formed from goodwill and purchase consideration sharing, reducing net profit of 561 million yuan attributable to shareholders of listed companies during the reporting period.

In addition, it is proposed to distribute a cash dividend of 3.66 yuan (tax included) for every 10 shares to all shareholders.