HSGC(SH:600774) Jing Ji Guan Cha Bao·2025-04-30 00:39Core Viewpoint - Han Commercial Group (600774.SH) reported a revenue of 1.175 billion yuan for 2024, a decrease of 15.41% year-on-year, primarily due to market fluctuations and policy adjustments in the medical sector [1] Group 1: Financial Performance - The company experienced a revenue decline attributed to the medical sector's income reduction caused by market environment changes and policy adjustments [1] - The company anticipates a recovery in performance by 2025 as it deepens its "Big Health + Big Business" dual main business strategy [1] Group 2: Pharmaceutical Sector - Han Commercial Group has expanded its presence in the big health sector, focusing on chemical drugs, traditional Chinese medicine, and medical devices through its subsidiary, Dikon Pharmaceutical [2] - The company invested over 50 million yuan in R&D for 2024, emphasizing innovation and product development [1] - The company holds complete intellectual property rights for its global Class I innovative drug DDCI-01, which has completed Phase II clinical trials and is entering Phase III for indications related to pulmonary arterial hypertension and benign prostatic hyperplasia [1] Group 3: Traditional Chinese Medicine - The company is progressing with the resumption of production for Dikon Traditional Chinese Medicine following the bankruptcy restructuring of Dongfang Pharmaceutical, achieving the market launch of 13 products [2] - The star product, Tongqiao Bi Yan Granules, sold over 13 million boxes in 2024, marking a 20% increase year-on-year [2] Group 4: Medical Devices - Dikon Zhongke, a subsidiary, has seen growth in its absorbable medical devices, including absorbable bone fixation screws and membranes, with successful bids in various provinces [2] - The company is advancing the development of new medical devices, obtaining multiple registration certificates and inspection approvals [2] Group 5: Assisted Reproductive Technology - The company plans to enhance support for key disciplines in assisted reproduction, aiming to establish a well-known specialty hospital in the field [2] Group 6: Commercial Exhibition Sector - The company is adapting its shopping centers and business operations to market changes, exploring new business models such as low-altitude logistics [3] - The transformation of the former Wuhan wedding photo material city into the Han Chao Z6 project aims to attract a younger demographic [3] - The Wuhan International Exhibition Center is undergoing operational upgrades to create a new service model for the exhibition industry [3] Group 7: Future Strategy - The company aims to strengthen its pharmaceutical sector by focusing on traditional Chinese medicine, enhancing sales, and driving R&D [3] - The commercial sector will focus on precise positioning and upgrading to enhance profitability and invigorate traditional brands [3]