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China Pharma Holdings Inc. (CPHI-2.32%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing provides a detailed overview of the company's financial performance, highlighting a net loss of $4.74 million for the year ended December 31, 2024, compared to a net loss of $3.08 million in the previous year.
Revenue for the year was reported at $4.5 million, a decrease from $7.0 million in the prior year, primarily due to increased competition and the company's products not qualifying for centralized procurement.
Cost of revenue was $6.5 million, representing 143.8% of total revenue, which contributed to a gross loss of $2.0 million, up from a gross loss of $0.3 million in the previous year.
Operating expenses totaled $2.6 million, with selling expenses decreasing to $0.53 million and general and administrative expenses increasing to $1.78 million.
The company reported cash and cash equivalents of $0.63 million as of December 31, 2024, and a working capital deficit of $1.7 million.
China Pharma Holdings Inc. continues to face challenges related to its financial condition and has outlined plans to enhance its sales model and explore strategic alternatives to improve its financial position.
The company’s operations are primarily conducted in China through its wholly owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd.
China Pharma Holdings Inc. has identified material weaknesses in its internal control over financial reporting, which it is addressing through training and process improvements.
The filing also discusses the company's dependence on the Chinese market and the potential impact of regulatory changes on its business operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the China Pharma Holdings Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.