Xin Lang Cai Jing·2025-09-22 15:35Core Viewpoint - The company, Haiprui, is a leading multinational pharmaceutical enterprise with a focus on the heparin industry chain, biopharmaceutical CDMO, and innovative drug development, benefiting from the depreciation of the RMB and a significant overseas revenue share [2][3]. Company Overview - Haiprui was established in 1998 in Shenzhen and has both A and H share financing platforms [2]. - The main business segments include heparin sodium raw materials, downstream low molecular weight heparin products, and CDMO services for biopharmaceuticals [7]. - As of June 30, 2025, Haiprui reported a revenue of 2.817 billion yuan, a year-on-year decrease of 0.71%, and a net profit of 422 million yuan, down 36.44% year-on-year [7]. Financial Performance - The company’s overseas revenue accounted for 93.04% of total revenue, benefiting from the depreciation of the RMB [3]. - The revenue composition includes 63.06% from formulations, 18.59% from CDMO, 16.05% from heparin sodium and low molecular weight heparin raw materials, and 2.30% from other sources [7]. - Cumulative cash dividends since the A-share listing amount to 4.21 billion yuan, with 514 million yuan distributed over the past three years [8]. Market Activity - On September 22, Haiprui's stock price fell by 0.81%, with a trading volume of 45.2628 million yuan and a market capitalization of 18.062 billion yuan [1]. - The stock has seen a net outflow of 3.1095 million yuan from major funds today, indicating a reduction in holdings over the past three days [4][5]. Technical Analysis - The average trading cost of the stock is 11.56 yuan, with the current price approaching a resistance level of 12.33 yuan, suggesting potential for a price correction if this level is not surpassed [6].