According to Zhitong Finance App News, Shiyao Group (01093) announced the results of Shiyao Innovation (300765.SZ) for the first quarter of 2024, with operating revenue of about 524 million yuan, a year-on-year decrease of 27.08%; net profit attributable to shareholders of listed companies was about 79.0613 million yuan, a year-on-year decrease of 38.86%; basic earnings per share were 0.0676 yuan.
According to the announcement, the main reason for the decline in revenue was the decline in main business revenue during the reporting period due to a decrease in the price of caffeine products compared to the same period last year. At the same time, Jushi Biotech authorized the overseas development and commercialization of Nectin4 ADC products during the same period last year, confirming revenue of about 34 million yuan.
The main reason for the decline in net profit was the decline in the company's profit due to the decline in the price of caffeine products, and Jushi Biotech's main pipeline is still in the R&D stage and has not contributed to revenue or profit.