Chongqing Genrix Biopharmaceutical (SH:688443) Zheng Quan Ri Bao Wang·2025-04-25 13:43Core Viewpoint - Chongqing Zhixiang Jintai Biopharmaceutical Co., Ltd. reported significant revenue growth in 2024, primarily due to the commercialization of its innovative drug, but still faced substantial net losses [1][2]. Group 1: Financial Performance - The company's operating revenue for 2024 reached 30.09 million yuan, representing a year-on-year increase of 2384.1% [1]. - The net profit attributable to shareholders was a loss of 797 million yuan, which is a reduction compared to the previous year's loss [1]. - In the first quarter of 2024, the company reported an operating revenue of 20.16 million yuan and a net loss of 121 million yuan, indicating a decrease in losses [2]. Group 2: Product Development and Commercialization - The revenue growth was mainly driven by the approval and commercialization of the drug "Jinlixi" (Secukinumab), which is the first fully human anti-IL-17A monoclonal antibody approved in China [1]. - The company maintained high research and development (R&D) investment, with R&D expenses around 610 million yuan in 2024 and a cumulative investment of 1.685 billion yuan over the past three years [2]. - The company is advancing multiple projects into clinical research stages and has established a commercial sales team, indicating a focus on expanding its product pipeline and market presence [2].