Jincheng Pharm Releases Q3 2023 Financial Report and Obtains New License
On October 24th, the listed company Jincheng Pharm (SZ300233) released its financial report for the third quarter of 2023. The company's operating income for the third quarter reached 863 million yuan, representing a year-on-year increase of 16.77%. However, its net profit declined by 21.95% to 30.77 million yuan, and the non-GAAP net profit also dropped by 21.17% to 26.72 million yuan.
According to a report, Jincheng Pharm achieved a total operating revenue of 2.569 billion yuan in the first three quarters of 2023, representing a year-on-year decrease of 0.87%. The net profit reached 132 million yuan, experiencing a significant decline of 48.73% compared to the same period last year. The adjusted net profit, excluding non-recurring items, stood at 119 million yuan, reflecting a 52.81% year-on-year decrease. The basic earnings per share amounted to 0.34 yuan.
According to the report, Jincheng Pharm Chemical Co., Ltd., a wholly-owned subsidiary of the company, received a "Tobacco Monopoly Production Enterprise License" (e-cigarette nicotine production) issued by the National Tobacco Monopoly Administration in July 2023.
It has been stated that the newly acquired "Tobacco Monopoly Production Enterprise License" has made changes to the approved production scale, scope of permission, and validity period of the original certificate. The company is now permitted to engage in domestic and export business of e-cigarette nicotine in compliance with the law. The production scale will not exceed the data approved by the State Tobacco Monopoly Bureau, and the validity period has been extended until June 30, 2025.
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