Core Viewpoint - The company, Zhaoke Ophthalmology (06622.HK), has seen its stock price nearly double this year, making it one of the top performers in the Hong Kong biotech sector, despite reporting a loss of 117 million yuan in the first half of the year due to strategic adjustments and increased R&D spending [1][2][3]. Financial Performance - Zhaoke Ophthalmology reported a loss of 117 million yuan in the first half of the year, attributed to a shift in sales strategy focusing on top-tier hospitals and optimizing the sales team, which led to a temporary decline in generic drug sales [2]. - The company's R&D expenditure for the first half of the year was 113 million yuan, an increase compared to the same period last year [3]. Product Pipeline and Market Potential - The company aims to commercialize a total of 12 drugs by the end of 2026, with a focus on core products such as atropine sulfate eye drops, cyclosporine eye gel, and bevacizumab intravitreal injection, which are currently at the application stage for market approval [3][4]. - The demand for pediatric myopia prevention is significant, with many hospitals still using in-house formulations of atropine, indicating a substantial growth opportunity in the atropine market as approved products replace these formulations [4]. Industry Trends - The incidence of eye diseases in China is rising due to factors such as aging population, increased work and study pressure, and excessive use of electronic devices. The overall myopia rate among children and adolescents was reported at 51.9% in 2022, with varying rates across different age groups [3].
年内股价涨幅近两倍，但兆科眼科业绩还在承压