ER-KANG(300267) Quan Jing Wang·2025-04-22 12:44Core Viewpoint - The company has demonstrated resilience and adaptability in its strategic planning and execution, leading to a robust performance despite external uncertainties [3]. Financial Performance - In 2024, the company achieved a total revenue of 1.14 billion yuan, facing challenges but showing growth in specific segments [1]. - In Q1 2025, the company reported a revenue of 353 million yuan, representing a year-on-year increase of 28.19%, with a net profit of 28.11 million yuan, up 868.91% [1]. Business Segments - The modified starch and starch capsule series products generated a revenue of 56.41 million yuan, an increase of 81.89% year-on-year [1]. - The traditional Chinese medicine segment capitalized on market opportunities, achieving a revenue of 99.98 million yuan, a significant increase of 461.40% [1]. - The lithium carbonate upstream layout is being actively pursued, with the first beneficiation plant in Nigeria contributing an additional revenue of 77.27 million yuan in Q1 2025 [1]. Research and Development - The company obtained 13 patents and collaborated with an AI technology firm on a synthetic biology-driven project for liver and gallbladder drugs, which has entered the pilot scale-up phase [2]. - Progress has been made on a bronchodilator and cough suppressant injection, as well as an injection for heart failure treatment [2]. International Expansion - The company is implementing a market development plan in Africa, focusing on Nigeria and Tanzania, aligning with the Belt and Road Initiative [2]. - The Nigerian beneficiation plant project ensures the security of the upstream supply chain for new energy and supports global market expansion [2]. - The planned local pharmaceutical production in Tanzania aims to meet local healthcare needs while enhancing Sino-African cooperation [2]. Future Outlook - The company plans to strengthen its pharmaceutical excipients business and accelerate the industrialization of specialty products in 2025 [2]. - There is an intention to leverage capital operations to identify strategic acquisition targets and enhance the industrial chain layout [2].