HitGen(SH:688222) Zheng Quan Ri Bao Wang·2025-04-27 08:44Core Insights - Chengdu Xian Dao's revenue for 2024 reached 427 million yuan, marking a year-on-year growth of 14.99%, achieving a historical high [1] - The company's net profit attributable to shareholders, excluding non-recurring gains and losses, surged by 1563.94% to 57.44 million yuan [1] - In Q1 2025, the company maintained a robust growth trajectory with revenue of 107 million yuan and a net profit of 17.51 million yuan, reflecting a year-on-year increase of 113.63% [1] Business Performance - The DEL (DNA-encoded library) segment, a cornerstone of the company, generated approximately 200 million yuan in revenue, up 8.55% year-on-year, solidifying its industry-leading position [1] - The drug design business, benefiting from milestone revenue recognition from the UK subsidiary Vernalis, reported revenue of about 120 million yuan, a 30.99% increase [1][2] - The delivery molecule commercialization project achieved a breakthrough in revenue conversion, generating 48.03 million yuan, a 39.72% increase [2] - Chemical services and biological services segments reported revenues of 17.07 million yuan and 18.37 million yuan, reflecting year-on-year growth of 8.09% and 15.71% respectively [2] R&D Investment - In 2024, the company invested 67.33 million yuan in R&D, accounting for 15.77% of its revenue, and secured 32 authorized invention patents while submitting 27 new patent applications [3] - The company published 8 scientific papers in core industry journals and 5 peer-reviewed papers, indicating a continuous enhancement of its technological innovation and academic contributions [3] - The self-developed drug pipeline, HG146, officially entered clinical phase II by the end of 2024, showcasing the company's commitment to advancing its proprietary research [3] Strategic Positioning - The establishment of the first global DEL alliance with major international pharmaceutical companies aims to share resources and accelerate drug discovery [2] - The company has built a "technology moat + financial stability + strategic foresight" framework, demonstrating resilience and growth potential in the biopharmaceutical sector [4] - The explosive growth in 2024 and Q1 2025 is attributed to the commercialization breakthroughs of core technology platforms and strategic ecological layout [4]