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on the evening of august 28, xingqi eye pharmaceutical (300573.sz) disclosed its 2024 semi-annual report. after the opening of the next day, the company's stock price opened sharply lower, falling by more than 15% at one point. as of the close of the 29th, the price was 87.59 yuan per share, a drop of 12.40%.

in the first half of 2024, the company achieved total operating revenue of 892 million yuan, a year-on-year increase of 30.10%; net profit attributable to the parent company was 169 million yuan, a year-on-year increase of 92.95%; non-net profit was 169 million yuan, a year-on-year increase of 96.55%; net cash flow from operating activities was 187 million yuan, a year-on-year increase of 79.76%; during the reporting period, xingqi eye medicine's basic earnings per share was 0.97 yuan. the company's 2024 semi-annual profit distribution plan is: to distribute 5 yuan (including tax) for every 10 shares to all shareholders.

in the second quarter, xingqi eye pharmaceutical's net profit attributable to shareholders increased by 287.27% month-on-month, mainly due to the commercialization of low-concentration atropine.

low-concentration atropine has been popular recently because it can delay the development of myopia in adolescents. in the past, it was mainly used as an in-hospital preparation. in march 2024, xingqi eye medicine's atropine sulfate eye drops obtained the "drug registration certificate". the product specification is 0.01% (0.4ml: 0.04mg), which is used to delay the progression of myopia in children aged 6 to 12 years with a spherical power of -1.00d to -4.00d (astigmatism ≤1.50d, anisometropia ≤1.50d). at present, there are no similar products with myopia-related indications on the market in china.

after xingqi eye drops' low-concentration atropine was approved, aier eye hospital, huaxia eye hospital, pure eye hospital, guangzheng eye hospital and others announced that they had signed contracts to introduce the product and put it into clinical use. in may, xingqi eye drops said during an institutional survey: "the production line is currently running smoothly. when the product was launched, there was only one line, and now there are three more."