Wolwo Pharma(SZ:300357) Quan Jing Wang·2025-10-23 15:06Core Viewpoint - Iwubio has demonstrated significant growth in revenue and profit in the first three quarters of 2025, driven by strong sales of its key products and increased market promotion efforts [1][5]. Financial Performance - For the first three quarters of 2025, Iwubio achieved revenue of 853 million yuan, a year-on-year increase of 16.86% [1] - The net profit attributable to non-recurring gains and losses reached 340 million yuan, up 28.92% year-on-year [1] - The net cash flow from operating activities was 287 million yuan, reflecting a substantial increase of 79.11% year-on-year [1] - In Q3 2025, revenue was 369 million yuan, representing a 22.64% year-on-year growth, while the net profit increased by 36.96% to 167 million yuan [1] Product Performance - Sales of the "Dust Mite Drops" reached 794 million yuan, a year-on-year increase of 13.38% [1] - The "Artemisia Pollen Sublingual Drops" generated sales of 44.76 million yuan, up 117.58% year-on-year [1] - Sales of the skin prick solution amounted to 11.05 million yuan, reflecting a 94.10% year-on-year growth [1] - The rapid growth in sales of the latter two products is attributed to increased market promotion efforts [1] Market Position and Demand - Iwubio is a core supplier in the domestic desensitization treatment field, with its products being among the only two approved sublingual allergen desensitization agents in China [2] - The company’s products effectively cover different allergic patient groups, addressing regional variations in allergen distribution [2] - The global allergy immunotherapy market is projected to grow from approximately 1.84 billion USD in 2024 to about 4.02 billion USD by 2032, with a compound annual growth rate of around 10.3% [2] Clinical and Research Development - Iwubio has been actively collaborating with medical institutions to accumulate high-quality clinical evidence, enhancing the implementation of sublingual desensitization therapy [3] - The company’s flagship product, "Dust Mite Drops," has been recognized in 140 research articles indexed by the PubMed database, including 86 SCI papers [3] - The "Artemisia Pollen Sublingual Drops" has also established a solid academic foundation with 13 English research papers published in international SCI journals [3] R&D and Regulatory Developments - In the first three quarters of 2025, Iwubio invested 85.7 million yuan in R&D, accounting for 10.04% of its revenue [4] - The company received updated production licenses for three new products, expanding its product matrix [4] - Iwubio has accelerated its clinical pipeline, with several new products entering clinical trials [5] Strategic Outlook - With high R&D investment, new product qualifications, and ongoing clinical pipeline advancements, Iwubio is well-positioned to expand its product matrix and enhance its market share in the global desensitization treatment field [5]