Fushine(SZ:300497) Shang Hai Zheng Quan Bao·2025-04-26 02:27Core Viewpoint - The company reported a challenging year with a total revenue of 1,177.85 million yuan and a net loss attributable to the parent company of 272.10 million yuan, highlighting the need for strategic adjustments in response to market conditions [17][18]. Company Overview - The company specializes in the research, production, and sales of anti-infection drug raw materials and intermediates, with a focus on expanding into lithium battery electrolyte additives and synthetic biology microbial protein [4][10]. Pharmaceutical Manufacturing Business - The pharmaceutical manufacturing segment generated sales revenue of 918.01 million yuan, accounting for 77.94% of total revenue, but faced challenges due to low prices of key products and high raw material costs [17]. - The company has made advancements in production processes, including the successful commercialization of sterile hezobactam sodium and the introduction of innovative enzyme methods to reduce production costs by 15%-20% [17][18]. Lithium Battery Electrolyte Additives - The lithium battery electrolyte additives business achieved sales revenue of 252.65 million yuan, representing 21.45% of total revenue, despite a decline in sales revenue due to falling prices [19]. - The company has expanded its market presence by obtaining EU REACH certification and IATF16949 certification, allowing for broader sales opportunities in international markets [20]. Microbial Protein Business - The company is a pioneer in the microbial protein industry, with a focus on developing sustainable protein sources that align with national strategic goals [21][22]. - The company has developed proprietary strains and technologies for producing microbial protein, achieving international recognition for its advancements [21][22]. Financial Performance - The company reported a total revenue of 1,177.85 million yuan and a net loss of 272.10 million yuan, indicating financial pressures amid competitive market conditions [17][18]. - The company has implemented asset impairment provisions totaling 156.72 million yuan due to cautious accounting practices in response to market challenges [27]. Strategic Initiatives - The management has launched a share buyback plan to boost investor confidence, with key executives collectively purchasing 2.8 million shares [27]. - The company is actively pursuing new business opportunities in the lithium battery and microbial protein sectors, supported by government policies and funding [21][24].