Haisco(SZ:002653) Xin Jing Bao·2025-04-14 09:54Core Insights - The company's revenue and net profit attributable to shareholders for 2024 are projected to be 3.721 billion yuan and 395 million yuan, representing growth rates of 10.92% and 34% respectively, despite a significant decline of over 40% in net profit after deducting non-recurring items [1][3] Group 1: Revenue and Profit Performance - The company reported a substantial increase in revenue and net profit, driven primarily by innovative drugs [1][2] - The non-recurring gains amounted to 263 million yuan, leading to a sharp decline in net profit after adjustments to only 132 million yuan, a decrease of 45.4% year-on-year [3] Group 2: Product Portfolio and Innovation - The company has a diverse product portfolio with over 40 varieties, focusing on anesthetics, neurology, and endocrinology, with innovative drugs being the core growth driver for 2024 [2] - The anesthetic products generated 1.232 billion yuan in sales, accounting for 33.1% of total revenue, with a year-on-year growth of 44.96% [2] - The newly approved innovative drugs are expected to contribute significantly to revenue in 2025, with first-year sales reaching several hundred million yuan [2] Group 3: Research and Development - The company's R&D investment exceeded 1 billion yuan, marking a year-on-year increase of 14.36%, which constitutes 26.09% of total revenue [4] - The company is focusing on accelerating the commercialization process of its innovative drugs, with 14 products currently in various stages of development [4] Group 4: Financial Health - As of the end of 2024, the company reported cash holdings of 1.056 billion yuan, a decrease of 9.64% year-on-year, while accounts receivable increased by 4.85% to 838 million yuan [3] - The company’s interest-bearing liabilities rose by 6.16% to 1.906 billion yuan [3]