Zhejiang Garden Biopharmaceutical Co., Ltd. (Stock code: 300401) released its 2024 annual report on March 24, 2025, posting robust gains in both revenue and profitability, driven by favorable pricing for Vitamin D₃ products, the launch of new Vitamin A lines, and effective cost management in its pharmaceutical segment.
Financial Highlights (Year-End December 31, 2024):
- Revenue: RMB 1.24 billion / USD 172.83 million), up 13.58% YoY
- Net profit attributable to shareholders: RMB 309 million / USD 43.07 million, up 60.76% YoY
- Net profit (excluding non-recurring items): RMB 257 million / USD 35.82 million, up 74.02% YoY
Dual-Track Strategy in Vitamins and Pharmaceuticals
Garden Biopharma focuses on two main sectors: vitamin production and pharmaceutical manufacturing, with particular specialization in Vitamin D₃ derivatives and formulations for chronic cardiovascular and neurological diseases.
In 2024, the company benefited from:
- A significant price increase in Vitamin D₃ products, a core revenue stream.
- New product launches in the Vitamin A series, further diversifying the vitamin portfolio.
- Lower marketing and service expenses in the pharmaceutical division.
- Asset disposal gains, contributing to improved bottom-line performance.
Founded in 2000 and based in Dongyang, Zhejiang Province, Garden Biopharma has evolved into a high-tech manufacturer with integrated capabilities across R&D, production, and sales, especially in high-barrier drug formulations and vitamin supply chains.
