科创板年报观察： 54家未盈利企业合计减亏36% 3家企业成功“摘U”

Group 1 - The core focus of the Sci-Tech Innovation Board (STAR Market) is to support unprofitable companies with key technologies and significant market potential, leading to 22 unprofitable companies successfully achieving profitability and removing the "U" designation [1][2] - In 2024, unprofitable companies on the STAR Market achieved a record total revenue of 174.48 billion yuan, a 24% year-on-year increase, while their net losses decreased by 36% to 13.64 billion yuan [2][7] - The STAR Market has seen a diverse development among unprofitable companies, particularly in the biopharmaceutical and integrated circuit sectors, with many companies converting laboratory innovations into clinical benefits [3][4] Group 2 - Notable companies like Baile Tianheng and Microelectrophysiology have demonstrated significant growth, with Baile Tianheng achieving a revenue of 5.8 billion yuan, a 936% increase, and a net profit of 3.7 billion yuan due to a major strategic partnership [4][6] - Microelectrophysiology has established itself as a leading provider of three-dimensional cardiac electrophysiology solutions, achieving overseas revenue of 112 million yuan, a 62.94% increase [6][5] - The unprofitable companies collectively invested 45.94 billion yuan in R&D in 2024, marking a 5.86% increase, with R&D expenditures accounting for 26% of their total revenue [7][8]