On August 7th, BeiGene (SH688235, stock price 140.88 yuan, market value 193.9 billion yuan) released its financial report for the first half of 2024, with a total operating revenue of 11.996 billion yuan, a year-on-year increase of 65.4%. However, its net profit attributable to shareholders and net profit after deducting non profits were respectively 2.877 billion yuan and 3.125 billion yuan.
It is worth noting that BeiGene has suffered continuous losses in the past 7 years, with a cumulative undistributed profit of approximately 57.69 billion yuan at the end of 2023, which undoubtedly brings enormous financial pressure to the company's future development. Since its listing on the A-share market in December 2021, BeiGene's stock price performance has been unsatisfactory. The current stock price has fallen by nearly 30% compared to the issue price. The continuous decline in the company's stock price reflects investors' doubts about BeiGene's future profitability. Faced with sustained losses and declining stock prices, the company needs to find effective profit models and cost control measures while maintaining research and development investment.
In addition, the recent high-level changes in the company have also attracted market attention. The departure of Chief Financial Officer Wang Aijun and the succession of Aaron Rosenberg may have an impact on the company's financial management and strategic decision-making. Wang Aijun has extensive financial experience in the biotechnology, pharmaceutical, medical equipment, diagnostic systems, and consumer goods industries. The new CFO Rosenberg's years of work experience at Merck, particularly in capital markets and fund management, may bring new financial management strategies to BeiGene.
The future development of BeiGene is full of challenges, but the addition of the new CFO and the growth in product sales have brought new hope to the company. The market expects BeiGene to make breakthroughs in the field of innovative drugs and achieve sustainable profit growth.
When considering the investment value of BeiGene, investors should closely monitor the company's research and development progress, product market performance, and changes brought about by the new CFO. At the same time, the company's management needs to present a clear strategic plan and profit path to the market in order to rebuild investor confidence.