公司快评︱通化东宝业绩“大变脸” 内部管理与市场策略需反思

Group 1 - The core viewpoint of the articles highlights that Tonghua Dongbao has significantly revised its 2024 annual performance forecast from a profit of approximately 11.64 million yuan to a loss of 42.72 million yuan, marking the second major revision within the year [1][2] - The company attributes the substantial loss to adjustments in deferred tax assets related to subsidiary R&D project transfers and the recognition of losses from prepayments made to SAADOCIA for commercialization rights [1] - The frequent revisions and significant adjustments in financial forecasts indicate serious deficiencies in the company's internal financial accounting and risk control mechanisms, which could undermine investor confidence and create uncertainties for future financing and operations [1][2] Group 2 - The challenges faced by Tonghua Dongbao are not solely due to accounting practices but also stem from a disconnect between strategic execution and industry changes, particularly in response to price pressures from medical insurance procurement [2] - Despite adopting a strategy of exchanging price for volume, the company has not seen significant improvements in sales revenue and profits, indicating weaknesses in pricing, channel management, and market expansion capabilities [2] - In contrast, competitors like Ganli Pharmaceutical have managed to achieve revenue and profit growth under similar procurement conditions, highlighting the disparities in product competitiveness, brand influence, cost control, and internal governance between companies [2]