On March 30, Olin Biotechnology (688319) announced its 2024 annual report. The company's operating income was 589 million yuan, up 18.7% year-on-year; net profit attributable to the parent company was 20.76 million yuan, up 18.2% year-on-year; net profit attributable to the parent company after deducting non-recurring items was 11.18 million yuan, up 230% year-on-year; net operating cash flow was -9.73 million yuan, down 122.1% year-on-year; EPS (fully diluted) was 0.0511 yuan.

In the fourth quarter, the company's operating income was 202 million yuan, up 40.6% year-on-year; net profit attributable to the parent company successfully turned losses from a loss of 12.73 million yuan in the same period last year, and realized a net profit attributable to the parent company of 16.73 million yuan; net profit attributable to the parent company after deducting non-recurring items successfully turned losses from a loss of 15.54 million yuan in the same period last year, and realized a net profit attributable to the parent company of 11.51 million yuan; EPS was 0.0412 yuan.

As of the end of the fourth quarter, the company's total assets were 1.807 billion yuan, an increase of 12.1% from the end of the previous year; the parent's net assets were 925 million yuan, an increase of 0.8% from the end of the previous year.

The company mentioned in its 2024 annual report that it has made significant progress in business operations. During the reporting period, the company's Phase III clinical trial of recombinant Staphylococcus aureus vaccine planned to enroll 6,000 cases, and more than 5,000 cases had been enrolled by the end of the reporting period. In addition, the company's oral recombinant Helicobacter pylori vaccine (Escherichia coli) has obtained a Phase I clinical trial license in Australia, and the trivalent and quadrivalent influenza virus split vaccines (MDCK cells) have also obtained a drug clinical trial notice from the State Food and Drug Administration.

The company has also continued to exert its strength in market promotion, especially the sales of adsorbed tetanus vaccines have achieved steady growth, and the annual sales revenue of a single product has exceeded 500 million yuan for the first time. Through continuous technological innovation and product research and development, the company has gradually formed a research and development pattern of "adult vaccines" and "super bacteria vaccines", laying a good foundation for future market competition. The company also maintained a high proportion of investment in research and development, with the proportion of research and development investment to operating income reaching 39.23% during the reporting period.

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