CISEN(SH:603367) Shang Hai Zheng Quan Bao·2025-04-21 21:33Core Viewpoint - The company, Chenxin Pharmaceutical, reported a decrease in revenue and net profit for the year 2024, while also outlining its future growth strategies and industry positioning in the pharmaceutical sector [24][42]. Company Overview - Chenxin Pharmaceutical operates in the pharmaceutical manufacturing industry, focusing on the research, production, and sales of drugs [5][15]. Industry Overview - The pharmaceutical manufacturing industry in China is experiencing steady growth, with the market expected to exceed 1.9 trillion yuan in 2024, reflecting a year-on-year increase of over 10% [6]. - Factors driving this growth include rising living standards, increasing healthcare demands, and advancements in pharmaceutical technology, particularly due to an aging population [6][7]. - 2024 is seen as a pivotal year for the industry, with reforms in policy, increased R&D investment, and a shift towards high-quality development [6][7]. Financial Performance - In 2024, the company achieved a revenue of 3.982 billion yuan, a decrease of 10.77% compared to the previous year [24][42]. - The total profit for the year was 576 million yuan, down 3.37% year-on-year, while the net profit attributable to shareholders was 509 million yuan, a decline of 2.38% [24][42]. - The company’s earnings per share for 2024 were 1.12 yuan, down 2.61% from the previous year [42]. Profit Distribution - The company plans to distribute a cash dividend of 0.44 yuan per share for 2024, with a total payout of approximately 199 million yuan, representing 39.15% of the net profit attributable to shareholders [3][47]. Industry Positioning - Chenxin Pharmaceutical's subsidiary, Shandong Chenxin Fudu Pharmaceutical Co., Ltd., received a consistency evaluation for its eye drop product, which is expected to support profit growth [13]. - The company was ranked 25th in the 2024 China Brand Value Evaluation, with a brand value of 2.806 billion yuan, reflecting significant improvements in brand strength and value [14]. Research and Development - The company invests over 8% of its revenue in R&D, emphasizing innovation as a key driver for sustainable development [22]. - Collaborations with various universities and research institutions have been established to enhance product development and technological advancements [22]. Future Outlook - The company aims to achieve a revenue target of over 4.4 billion yuan in 2025, focusing on optimizing product structure and enhancing management practices [44].