HYBIO(SZ:300199) Chang Jiang Shang Bao·2025-07-02 03:53Core Viewpoint - Hanyu Pharmaceutical (300199.SZ) has shown strong growth in its performance, driven by international business expansion and the successful sales of its weight-loss drug, liraglutide, in foreign markets [1][2][3]. Financial Performance - The company expects to achieve a net profit attributable to shareholders of between 142 million to 162 million yuan for the first half of 2025, marking a significant turnaround from losses in the previous year [2][3]. - The non-GAAP net profit is projected to be between 122 million to 142 million yuan, also indicating a return to profitability [2]. - The gross profit margin has significantly increased, rising by 7.78 percentage points to 57.09% in 2024, and further to 58.68% in the first quarter of 2025 [1][3]. International Business Growth - The primary source of revenue for the company in the first half of 2025 has been its international business, benefiting from sustained global market demand and increased exports of raw materials [2]. - The overseas revenue has surged, with figures rising from 46.94 million yuan in 2021 to 325 million yuan in 2024, with the revenue share increasing from 6.38% to 55.1% during the same period [2][3]. Innovation and Product Development - Hanyu Pharmaceutical focuses on peptide formulations and raw materials, with a diverse product line that includes specialty raw materials, injectables, custom peptides, solid formulations, and medical devices [4]. - The company is committed to expanding its innovative drug business, with plans to launch at least 20 new formulations globally, including original and modified drugs [5]. - A strategic partnership with Carbon Cloud Intelligent Peptide has been established to enhance drug development capabilities through CRDMO services and equity investment [6]. Market Performance - Following the release of the half-year performance forecast, the company's stock price saw a significant increase, reaching a peak gain of over 8%, closing at 17.25 yuan per share on July 1 [6]. - Since the beginning of 2025, the stock price has appreciated by 33.8% [6].