CSPC Innovation(300765)2025-01-17 11:27Financial Performance Outlook - The company expects a net profit attributable to shareholders of between 45 million and 66 million yuan for 2024, representing a decline of 84.81% to 89.64% compared to the previous year's profit of 434.44 million yuan [3]. - The net profit after deducting non-recurring gains and losses is projected to be between 38 million and 56 million yuan, a decrease of 92.47% to 94.89% from last year's profit of 743.67 million yuan [3]. Revenue Decline Factors - The decline in performance is primarily attributed to a drop in revenue from the functional raw materials business, with caffeine export prices falling over 20% compared to the previous year, leading to a revenue decrease of approximately 400 million yuan [7]. R&D Investment and Product Development - The company increased its R&D investment to approximately 840 million yuan for the year, an increase of about 170 million yuan from the previous year, despite the pressure on 2024 performance [7]. - Several in-development products made significant progress, with two monoclonal antibodies approved for commercialization in 2024, and five ADC products and two mRNA vaccines receiving IND approvals [7].