Six months ended June 30, 2008 Unaudited Financial Results
Net revenues. Our net revenues increased by RMB36.6 million, or 46.7%, from RMB78.4 million for the six months ended June 30, 2007 to RMB115.0 million (US$16.8 million) for the six months ended June 30, 2008, primarily attributable to increased sales from our EPIAO and TPIAO products, underpinned by continued healthy demand in the oncology and nephrology end markets. Net revenues from EPIAO increased by RMB17.5 million, or 31.7%, to RMB72.6 million (US$10.6 million) for the first six months of 2008. Net revenues from TPIAO increased by RMB14.3 million, or 83.2%, to RMB31.5 million (US$4.6 million) for the first six months of 2008. In addition, revenue from our export business was RMB4.7 million (US$0.7 million), representing an increase of 104.9% over the first half of 2007, while revenue from our in-licensed Iron Sucrose supplement was RMB3.5 million (US$0.5 million), representing an increase of 206.8% over the first half of 2007.
Income from Operations. For the six months ended June 30, 2008, operating income increased by 15.9% to RMB29.4 million (US$4.3 million), compared to RMB25.3 million for the same period last year. Operating margin for the first six months in 2008 was 25.5% as compared to 32.3% for the first six months in 2007. The decrease in operating margin was mainly due to increases in personnel costs and professional fees associated with on-going efforts to improve internal control procedures, investor relations and compliance with listing and regulatory requirements for a public company.
Net Income. Net income for the first half of 2008 decreased RMB0.4
million, or 0.9%, to RMB39.1 million (US$5.7 million) compared with RMB39.5
million for the same period in 2007. Net margin for the first six months
2008 was 34.0% as compared t
|SOURCE 3SBio Inc.|
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