Bloomage Biotech(688363)2025-01-24 10:15Financial Performance - The company expects a net profit attributable to shareholders of RMB 146 million to RMB 175 million for 2024, a decrease of RMB 417.56 million to RMB 446.56 million, representing a year-on-year decline of 70.47% to 75.36%[2] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is RMB 80 million to RMB 109 million, a decrease of RMB 381.48 million to RMB 410.48 million, representing a year-on-year decline of 77.78% to 83.69%[2] - The previous year's net profit attributable to shareholders was RMB 592.56 million, with a total profit of RMB 701.72 million[3] - The company has experienced a decrease in government subsidies directly impacting current profits compared to the previous year[9] Business Development - The company has maintained steady growth in its raw material business, benefiting from localized operations in international markets, leading to sustained sales growth in Europe, Japan, and the Americas[5] - The company launched two new medical aesthetic injection products under its brand, which are expected to enhance its product line and market presence[5] - The company has increased strategic investments in emerging business areas such as regenerative medicine and functional foods, with over RMB 100 million allocated to innovation initiatives[6] Management and Strategy - Management transformation initiatives have incurred costs exceeding RMB 70 million, impacting short-term profitability but laying a foundation for long-term growth[5] - The company is undergoing a strategic upgrade focused on high-quality growth and operational efficiency improvements, which may create greater long-term development space despite short-term pressures[8] Impairment and Provisions - A significant impairment provision of approximately RMB 210 million has been made for accounts receivable, inventory, and goodwill due to impairment indications[6]