China Medical System (00867) Released its 2024 Annual Results: Focusing on Innovation and Specialty Breakthroughs to Reshape Growth Momentum
SHENZHEN, CHINA – On March 17, China Medical System Holdings Limited (“CMS” or the “Company”) released its 2024 annual results. The Company recorded a turnover of RMB7,469 million, representing a year-on-year decrease of 6.8%; in the case that all medicines were directly sold by the Company, the turnover would be RMB8,622 million, representing a year-on-year decrease of 9.0%. Profit for the year was RMB1,613 million, and normalized profit for the year that excluding the provisions of impairment losses on related assets was RMB 1,714 million. The results announcement shows that in 2024, the performance decline of the Company was mainly influenced by the implementation of the National Volume Based Procurement (the “National VBP”), resulting in a year-on-year turnover (in the case that al...