AMOYTOP(SH:688278) Chang Jiang Shang Bao·2025-04-23 23:40Core Viewpoint - Teabo Bio's performance continues to grow significantly in the hepatitis B field, with a strong increase in revenue and net profit in Q1 2025 compared to the previous year [1][2]. Financial Performance - In Q1 2025, Teabo Bio achieved revenue of 673 million yuan, a year-on-year increase of 23.48%, and a net profit of 182 million yuan, up 41.4% [1]. - From 2020 to 2024, the company's revenue grew from 794 million yuan to 2.817 billion yuan, while net profit increased from 117 million yuan to 828 million yuan [2]. - The company has maintained a continuous dual increase in revenue and net profit for seven consecutive years, with a cumulative net profit of 1.968 billion yuan since its IPO [2]. Product Development - The growth in performance is attributed to the stable sales of the key product, Peginterferon, which is a first-in-class drug with complete independent intellectual property rights [2]. - Teabo Bio has invested significantly in R&D, with expenditures rising from 76.68 million yuan in 2020 to 295 million yuan in 2024, totaling 833 million yuan over the five years [2]. Intellectual Property and Market Position - As of the end of 2024, Teabo Bio has obtained 16 invention patents and a total of 293 intellectual property rights [3]. - The company has made important progress in multiple R&D projects, including the acceptance of a drug registration application for its self-developed growth hormone injection in January 2024 [3]. Stock Performance - Teabo Bio's stock price has seen a significant increase, rising from an IPO price of 8.24 yuan per share to 78.96 yuan per share as of April 22, representing a cumulative increase of 858.25% [3].