SSY Group sees 11.6% profit growth to $276m in H1

The company declared an interim dividend of HK$0.05 per share.

Pharmaceutical firm SSY Group Limited reported profit growth of 11.6% to $276m in the first six months of the year.

SSY generated a total of $2.44b revenue, representing a 37% increase compared to the same period last year.

The sales volume of infusion solutions in the first half reached 632 million bottles, up 31% year-on-year. Revenue from the segment amounted to RMB1.27b (US$196.33m).

Ampoule products, meanwhile, grew 53% to RMB406m (US$62/76m).

In light of SSY’s first-half performance, the company declared an interim dividend of $0.05 per share, unchanged from last year.

“The group will take full advantage of the market, policy opportunities arising from the positive changes in the domestic pharmaceutical market,” SSY Group Limited Chairman and CEO Qu Jiguang said in a statement.

For the second half of the year, the group will continue to develop bioprocessing films and form core advantages in the research and development of domestic bioprocessing film production.

The company had developed a multi-layer co-extrusion bioprocessing films for single-use systems in liquid dosing.

The product is widely used in the fields of research and development and production of vaccines and biopharmaceuticals.

At present, SSY is the only domestic manufacturer of bioprocessing films in China that can replace those imported and has broad market development prospects.