China Pharma Holdings, Inc. (NYSEAMERICAN: CPHI) is flying in the market this morning, and for good reason. The company announced its financial results for the full 2020 year, exciting investors.
Here’s the Scoop:
China Pharma Holdings Announces Earnings
In the press release, China Pharma Holdings, a specialty pharma company, announced positive results for the 2020 year. Here are the highlights:
First and foremost, revenue remained flat for the year, coming in at $10.9 million, the same amount of revenue generated in 2020. Gross margins however, were up nicely, coming in at 18% compared to 13.6% in 2019.
Losses were also significantly lower. In fact, losses from operations came in at just $2.6 million. In 2019, losses from operations came in at $20.4 million. All told, the net loss attributable to shareholders came in at $2.9 million, down from $20.8 million in 2019. On a per share basis, net loss came in at $0.07, compared to $0.48 in the year prior.
In a statement, Ms. Zhilin Li, CEO At China Pharma, had the following to offer:
The outbreak of COVID-19 early in this year has create a substantial, negative impact on sales of pharmaceutical companies, including ours. Many people try to avoid going to hospitals for fear of cross-contamination or potential infection. However, our company has actively responded to the outbreak by the launch of wash-free sanitizer, as well as EU-certified KN95 Particulate Respirator and disposable medical masks. We also completed a one-time COVID-19 tester export in this year.
In addition, we have a product that passed biological equivalents experiments of consistency evaluation in March 2021. We plan to submit relevant documentation and data to NMPA in the near future. We will continue to work on improving human health. We aim to leverage our expertise in the PRC for the development, manufacture and commercialization of pharmaceutical and comprehensive healthcare products for the benefit of human health.
The financial results released by China Pharma Holdings proved to be overwhelmingly positive. While revenue remained flat, the company’s work to reduce expenses and move toward profitability is paying off in a big way.
That’s exciting investors.
Moreover, with a public float of around 21 million shares, there’s not much of a supply. With increased demand as a result of the stellar financial results, it’s no surprise to see CPHI stock moving for the top.