佐力药业：上半年净利同比预增24%-31% 实施“一路向C”大健康消费新战略

Core Viewpoint - Zhaoli Pharmaceutical (300181) is expected to achieve significant growth in net profit for the first half of 2025, with a year-on-year increase of 24.30%-31.06%, driven by strong sales of its core products and strategic partnerships [1][2][3]. Financial Performance - The company anticipates a net profit of 36.8 million to 38.8 million yuan for the first half of 2025, marking a year-on-year growth of 24.30%-31.06% [2]. - The expected net profit excluding the impact of share-based payment expenses is projected to increase by 28.94%-35.70% [2]. - Revenue is expected to grow approximately 12% year-on-year, with strong sales from core products such as Wuling Capsules and Lingze Tablets [2][3]. - The net cash flow from operating activities is projected to be between 27 million and 29 million yuan, showing significant improvement compared to the first quarter [2]. Strategic Initiatives - Zhaoli Pharmaceutical has signed a cooperation agreement with Zhejiang University to establish a joint research and development center, focusing on the health consumption sector under the "一路向C" (One Road to C) strategy [4][5]. - The company plans to invest a total of 20 million yuan in this collaboration, leveraging advanced technologies in computer science and biomedicine to enhance product development [4]. - The strategic upgrade will focus on optimizing OTC business and developing innovative health products, particularly utilizing Wuling fungus [5]. Market Position and Growth Strategy - The company has experienced rapid growth in revenue and net profit from 911 million yuan and 26 million yuan in 2019 to 2.578 billion yuan and 508 million yuan in 2024, respectively [3]. - Zhaoli Pharmaceutical aims to maintain its leading position in the tranquilizer market with Wuling Capsules while expanding its product line to include ten varieties under the Wuling series [5]. - The company is committed to achieving a 30% growth target in net profit as part of its equity incentive plan for 2025 [3].