Bloomage Biotech(SH:688363) Jin Rong Jie·2025-04-12 01:38Core Insights - Huaxi Biological, a leading domestic biotechnology company, reported a revenue of 5.371 billion yuan and a net profit of 174 million yuan for the fiscal year 2024, with significant growth in its medical terminal and raw material businesses [1][4]. Revenue Performance - The medical terminal business generated 1.440 billion yuan in revenue, marking a year-on-year increase of 32.03%, with skin-related medical products exceeding 1 billion yuan in sales [4][5]. - The raw material business achieved a revenue of 1.236 billion yuan, reflecting a year-on-year growth of 9.47%, with international market revenue reaching 608 million yuan, up 17.65% [2][3]. Strategic Upgrades - Huaxi Biological is undergoing its third strategic upgrade, focusing on reshaping its entrepreneurial spirit and maintaining its leading position in the biotechnology sector [1][6]. - The company is transitioning from basic biological research to applied fields, emphasizing glycomics and cell biology, and leveraging synthetic biology for life health solutions [6][8]. Innovation and R&D - The company has initiated 96 raw material and synthetic biology R&D projects in 2024, with several new products completing trial production [2][3]. - Huaxi Biological invested 466 million yuan in R&D, accounting for 8.68% of its revenue, and holds 1,047 patent applications, ensuring a strong foundation for continuous innovation [7]. Market Expansion - The medical aesthetics business has expanded significantly, with over 7,000 institutions covered and a focus on differentiated products driving growth [4][5]. - The company has launched new products targeting specific markets, such as neck anti-aging and lip beauty, contributing to its revenue growth [4][5]. Organizational Transformation - The company is restructuring its business organization to enhance innovation and operational efficiency, aiming to return to an entrepreneurial model [7][8]. - Management is focusing on streamlining operations and improving market promotion effectiveness while controlling costs [7]. Future Outlook - Huaxi Biological aims to continue its long-term commitment to the synthetic biology field, promoting high-quality development in the life health industry through strategic upgrades and cultural transformation [8].