Hangzhou Tigerme - HNGZY STOCK NEWS

Hangzhou Tigermed Consulting Co., reported its 2023 annual results, showing 4.2% YoY revenue growth to RMB 7,384 million. Adjusted Non-IFRS net profit rose by 7.2% YoY to RMB 1,786 million. The company's China revenue surged by 17.6%, while overseas revenue fell by 9.6%. Tigermed continued its leadership in the clinical CRO industry, assisting in the approval of 22 new drugs and 6 medical devices in China in 2023. The company expanded globally, with 9,701 employees in 28 countries. Tigermed integrated digital technologies into clinical development, focusing on decentralized trials and global expansion. Management emphasized resilience and dedication to innovation.

Hangzhou Tigermed Consulting Co., Ltd. announced its interim results for the first half of 2023. Total revenue achieved 3.2% YoY growth to RMB 3,710.9 million. Adjusted Net Profit Attributable to the Owners of the Company increased by 2.2% YoY to RMB 895.6 million. Geographically, China's revenue increased by 24.2% YoY to RMB 2,087.4 million. The company's overseas revenue decreased by 15.2% YoY to RMB 1,623.5 million.

Tigermed, a global Contract Research Organization (CRO), has announced the opening of its International Headquarters in Hong Kong. The headquarters will facilitate efficient coordination of global projects, drive business expansion, and enhance the company's service platform and global talent. Tigermed aims to collaborate with more global enterprises and research institutions to provide high-quality CRO services. The International Headquarters demonstrates the company's commitment to expanding research capability and global reach.

Tigermed, a global Contract Research Organization (CRO), has opened its International Headquarters in Hong Kong to coordinate and manage global projects more efficiently. The headquarters will drive business expansion, empower customers on a global scale, and bring new energy to the company's service platform, global talent, and corporate culture.

Hangzhou Tigermed Consulting Co., Ltd. reported its annual results for 2022, highlighting a 35.9% year-over-year revenue growth, totaling RMB 7,085.5 million. Net profit before non-recurring items rose by 25.0% to RMB 1,539.5 million. Clinical Trial Solutions revenue grew by 37.8%, while overseas revenue surged 41.8%. The company achieved a year-end backlog of RMB 13,785.9 million, up 20.9% YoY. Tigermed expanded its global footprint with acquisitions and new operations, establishing a presence in over 50 countries. The launch of innovative digital tools for clinical trials is expected to enhance efficiency and growth moving forward.

Tigermed has successfully completed the acquisition of Marti Farm, a European Contract Research Organization. This strategic move enhances Tigermed's expertise in Europe, allowing for tailored clinical research solutions and improved safety monitoring on a global scale. Marti Farm has a 12-year track record in pharmaceuticals, medical devices, and food supplements, providing invaluable consultancy and regulatory services. Its pharmacovigilance cloud solution is already utilized by over 100 companies. Tigermed aims to leverage Marti Farm's expertise to strengthen its service offerings and expand its global presence in the healthcare sector.

Hangzhou Tigermed Consulting reported strong financial results for the first half of 2022, achieving a 74.8% year-over-year growth in total revenue to RMB 3,594.2 million. The adjusted net profit attributable to owners rose by 26.6% to RMB 876.5 million. The company’s revenue from Clinical Trial Solutions surged by 110.1%, while overseas revenue doubled, increasing by 102.3%. As of June 30, 2022, Tigermed was managing 607 ongoing drug projects, including 207 international ones, and it ranked as the largest clinical service provider in China with a 12.5% market share.

Hangzhou Tigermed Consulting Co., Ltd. reported impressive 2021 annual results, achieving a 63.3% year-over-year revenue growth of RMB 5,213.5 million. The company's adjusted net profit attributable to owners rose by 60.6% to RMB 1,585.3 million. Significant revenue increases were noted in Clinical Trial Solutions (up 97.1%) and overseas markets (up 91.1%). New bookings surged 74.2% YoY, totaling RMB 9,645.5 million. In 2021, Tigermed expanded globally with over 8,300 employees across 52 countries, continuing to innovate in clinical research.

Tigermed, a leading clinical research organization based in Hangzhou, China, has been awarded the Frost & Sullivan 2021 China Contract Research Organization Competitive Strategy Leadership Award. This recognition highlights Tigermed's dedication to high standards and comprehensive services in the biopharmaceutical and medical device sectors. With over 8,000 employees and operations spanning 46 countries, Tigermed is positioned to drive growth in China's clinical CRO market.