Viva Biotech Announces Significant Financial Improvement in Annual Results for the Year Ended December 31, 2024
On March 27, 2025, Viva Biotech Holdings (“Viva Biotech” or “the Company”), a leading contract research organization (CRO) based in Shanghai, China, reported impressive financial results for the Group’s fiscal year ended December 31, 2024. The company’s revenue reached RMB1,986.7 million, a substantial increase from RMB1,581.5 million in the previous year.
Key Financial Metrics
Gross profit for the year amounted to RMB687.4 million, up from RMB580.8 million in 2023. Net profit recorded RMB222.0 million, a significant turnaround from a net loss of RMB99.8 million in the corresponding period of last year. The net profit improvement was mainly due to the elimination of relevant financial adjustments resulting from the full repayment of convertible bonds.
Adjusted Non-IFRS Net Profit
Adjusted non-IFRS net profit, which excludes certain non-recurring items, came in at RMB314.6 million, a nearly 50.6% increase from RMB208.8 million in the corresponding period of 2023.
Factors Contributing to the Financial Improvement
The financial improvement can be attributed to several factors. Firstly, the recovery of CRO business growth contributed to the increase in operating profit margin. Secondly, the improving operational efficiency in the second half of 2024 played a significant role in the financial turnaround.
Recognition of Investment Income
Moreover, the recognition of investment income from milestone payments received by the Group during the year added to the financial improvement.
Impact on Individuals
The strong financial performance of Viva Biotech could lead to potential growth opportunities for employees, as the company may be in a better position to invest in research and development, expand its operations, and hire new talent. Additionally, shareholders of the company may benefit from the improved financial situation through increased stock value.
Impact on the World
Viva Biotech’s financial improvement signifies a positive trend in the CRO industry, as the company’s success could encourage other players in the market to focus on operational efficiency and business growth. This could ultimately lead to the development of more innovative treatments and therapies, benefiting patients and the healthcare industry as a whole.
Conclusion
In conclusion, Viva Biotech’s financial results for the year ended December 31, 2024, demonstrated significant improvement, with revenue increasing by approximately 23% and adjusted non-IFRS net profit growing by nearly 51%. The financial turnaround was primarily driven by the recovery of CRO business growth, improving operational efficiency, and the recognition of investment income. The positive financial performance could lead to growth opportunities for employees and shareholders, and a potential positive impact on the CRO industry and the healthcare sector as a whole.
- Revenue grew by approximately 23% to RMB1,986.7 million
- Adjusted non-IFRS net profit increased by nearly 51% to RMB314.6 million
- The recovery of CRO business growth, improving operational efficiency, and the recognition of investment income were the primary drivers of the financial improvement
- The strong financial performance could lead to growth opportunities for employees and shareholders
- A potential positive impact on the CRO industry and the healthcare sector as a whole
