九洲药业2024年业绩下滑，应收账款高企，需关注经营风险

证券之星2025-04-12

近期九洲药业(603456)发布2024年年报，证券之星财报模型分析如下：经营业绩概览九洲药业(603456)发布的2024年年报显示，公司全年营业总收入为51.61亿元，同比下降6.57%；归母净利润为6.06亿元，同比下降41.34%；扣非净利润为5.94亿元，同比下降42.06%。尽管全年业绩表现不佳，但第四季度营业总收入达到11.95亿元，同比上升26.25%，然而第四季度归母净利润为-...

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It is necessary to pay attention to operating risks","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"603456":1},"content_text":"近期九洲药业(603456)发布2024年年报，证券之星财报模型分析如下：经营业绩概览九洲药业(603456)发布的2024年年报显示，公司全年营业总收入为51.61亿元，同比下降6.57%；归母净利润为6.06亿元，同比下降41.34%；扣非净利润为5.94亿元，同比下降42.06%。尽管全年业绩表现不佳，但第四季度营业总收入达到11.95亿元，同比上升26.25%，然而第四季度归母净利润为-2478.04万元，同比下降137.27%，扣非净利润为-2464.17万元，同比下降133.9%。主要财务指标分析毛利率与净利率2024年，九洲药业的毛利率为33.78%，同比下降10.29%；净利率为11.76%，同比下降37.0%。这表明公司在成本控制和盈利能力方面面临一定压力。费用控制公司的销售费用、管理费用、财务费用总计为4.4亿元，三费占营收比为8.52%，同比增加4.06%。费用的增加可能对公司利润产生了一定影响。现金流与资产负债每股经营性现金流为1.11元，同比下降26.76%；货币资金为27.49亿元，同比下降14.27%。同时，应收账款为11.95亿元，同比增长24.23%，且应收账款占归母净利润的比例高达197.24%，显示出较大的资金回收压力。主营业务构成九洲药业的主要收入来源为合同定制类产品，收入为38.71亿元，占主营收入的75.00%，毛利率为38.38%。其次是中枢神经类药物，收入为3.89亿元，占主营收入的7.54%，毛利率为35.58%。值得注意的是，抗感染类产品的毛利率为负，为-5.74%，收入为3.04亿元。地区分布公司国外市场的收入为40.25亿元，占总收入的77.99%，毛利率为39.43%；国内市场收入为10.62亿元，占总收入的20.57%，毛利率为13.35%。国外市场的高占比和较高毛利率反映了公司在国际市场上的竞争力。风险提示九洲药业在2024年面临较大的经营压力，尤其是应收账款的高企和净利润的大幅下降。公司需要密切关注应收账款的回收情况，以改善现金流状况。此外，毛利率和净利率的下降也反映出公司在成本控制和盈利能力方面存在挑战。未来，公司应继续优化费用结构，提升运营效率，以应对市场竞争和宏观经济环境的变化。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2526248640","isCrawlerRequest":true}