SFPM(SZ:002737) Zheng Quan Shi Bao Wang·2025-05-08 11:07Core Viewpoint - The company is actively adjusting its operations in response to macroeconomic challenges and industry changes, focusing on optimizing sales models and enhancing R&D investment to ensure long-term growth [1][3]. Group 1: Company Strategy and Operations - The company has completed the upgrade of its marketing model and is currently solidifying processes and optimizing certain areas [1]. - The established R&D strategy of "buy, modify, connect, research, and代" aims to balance short-term and long-term interests while reducing risks and enhancing product lines in key areas [2]. - The company is focusing on the "one elderly, one child, one woman" core areas for product development, with an emphasis on differentiated competition and various marketing strategies [2]. Group 2: Financial Performance and Market Conditions - The company has experienced a decline in operational indicators compared to the previous year due to ongoing adjustments and external pressures, but expects to return to positive growth as these adjustments take effect [1]. - The prices of traditional Chinese medicinal materials have shown a cyclical decline, which may positively impact the company's gross margin if the trend continues [1]. - The company is committed to increasing R&D investment, with R&D expenses steadily rising as a percentage of revenue [1]. Group 3: Industry Outlook - Despite challenges in the pharmaceutical industry due to macroeconomic factors, the demand for healthcare is expected to rise due to changes in population structure [3]. - The company plans to leverage its established brand, products, and channel advantages while seeking new growth points through R&D and investment [3]. - The company will also focus on strengthening its talent pool to support business expansion as needed [3].