On April 22nd, 2024, SHANXI JINBO BIO-PHARMACEUTICAL CO., LTD. (referred to as Jinbo Bio) released its first-quarter report for 2024. In the first quarter of 2024, the company achieved operating income of 226 million yuan, a year-on-year increase of 76.09%; net profit attributable to shareholders was 101 million yuan, soaring by 135.72% year-on-year; non-recurring net profit reached 97.793 million yuan, surging by 142.38% year-on-year.
According to the financial report, in the first quarter of 2024, Jinbo Bio’s gross profit margin was 91.90%, an increase of 1.96 percentage points year-on-year; the net profit margin was 44.95%, up by 11.47 percentage points year-on-year.
Jinbo Bio stated in the financial report that the increase in first-quarter revenue was mainly attributed to the company’s intensified brand promotion, product market education, and promotion efforts, deepening relationships with existing customers, continuous expansion of new customers, active research and development of new products and product upgrades, optimization, and improvement of the product matrix, resulting in a significant increase in sales scale.
In terms of profitability, in the first quarter of 2024, Jinbo Bio’s weighted average return on net assets was 10.09%, an increase of 0.78 percentage points year-on-year; return on invested capital was 8.28%, up by 1.81 percentage points compared to the same period last year.
Regarding significant changes in assets, as of the end of the first quarter of 2024, Jinbo Bio’s fixed assets decreased by 1.60% compared to the end of the previous year, with a decrease of 1.88 percentage points in proportion to total assets; development expenditure increased by 93.76% compared to the end of the previous year, with an increase of 1.49 percentage points in proportion to total assets.
Jinbo Bio’s main business is the research, development, production, and sales of various medical devices and functional skincare products with recombinant collagen products and anti-HPV biological protein products as its core.
