Dongyangguang Changjiang Pharmaceutical (01558) announced interim results with profit attributable to shareholders of 685 million yuan “Coway” ranked 19th among China's top 50 health brands

According to the Zhitong Finance App, Dongyang Changjiang Pharmaceutical (01558) announced results for the six months ended June 30, 2024. The group achieved a turnover of 2,455 billion yuan during the period (same below); profit attributable to the company's equity shareholders of 685 million yuan; and basic profit per share of 0.78 yuan.

According to the announcement, for the six months ended June 30, 2024, the Group has carried out comprehensive product, category and brand upgrades to its Kewei brand. By elevating the positioning of the “Coway” series of products from “the preferred drug to prevent influenza” to “the cornerstone drug for influenza prevention”, the connection with influenza treatment was further deepened, and Kewell brand awareness was further enhanced. In 2024, Kewei ranked 19th among the top 50 health brands in China, up 17 places from 2023. In addition, the Group has also upgraded the process in terms of taste and other aspects of Kewei granules, improving compliance with children's medication and enhancing brand recognition.

As one of the Group's new performance growth curves, the chronic disease line represented by insulin is gradually entering the harvest period. By continuously strengthening the professional promotion team, promoting the entry of star benchmark terminals, digging deeper into the grassroots market, and optimizing sales channels at all levels, the Group achieved a turnover of 180 million yuan in the first half of 2024, a significant increase of 140.7% over the same period last year. During the reporting period, 5 types of insulin products independently developed by the Group, recombinant human insulin injection, mondongan insulin injection, mendong insulin 30 injection, and argentine human insulin mixed injection (30R) have all been approved for marketing. The specifications of these products are highly consistent with the original biologics, and all 5 insulin products won the bid for centralized volume procurement. With the further promotion of insulin series products, it is expected that the company will significantly bring about a slow business line of chronic diseases Performance growth.

The Group has a complete diabetes product line. In addition to insulin series products, other products in the diabetes field also have good performance, such as the oral hypoglycemic product linagliptin, which increased 394.0% over the same period last year. In addition, products under development are progressing smoothly. Among them, the SGLT-2 inhibitor, an innovative drug used to treat type 2 diabetes, rungagliflozin, has submitted an application for marketing as a new drug. SGLT-2 inhibitors have gradually become first-line oral medications for diabetes. The market is growing rapidly, and it is expected that their launch will make a significant contribution to the Group's performance.