RINGPU(SZ:300119) Zheng Quan Shi Bao Wang·2025-10-27 03:53Core Insights - The company reported a revenue of 2.544 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 13.50%, and a net profit attributable to shareholders of 362 million yuan, up 45.64% year-on-year [1] - In Q3 2025, the company achieved a revenue of 837 million yuan, with a year-on-year increase of 1.44%, and a net profit of 106 million yuan, reflecting a growth of 23.02% year-on-year [1] - The company has made significant advancements in mRNA vaccine development, including obtaining the world's first clinical trial approval for a food animal mRNA vaccine, showcasing its technological strength and forward-looking capabilities in the veterinary vaccine sector [1] Product Development - In Q3, the company received approvals for seven new products across various categories, including biological products, chemical drugs, and antibodies, enhancing its product matrix in the pet and animal medicine sectors [2] - The new products include vaccines for Newcastle disease, infectious bronchitis, avian adenovirus, and several others, which will drive high-quality development for the company [2] - The company has also adjusted the use of some raised funds to support the construction of a biological manufacturing industrialization project, aiming to expand into the new high-quality alternative protein sector [2] Operational Efficiency - The company has improved its profitability model through cost reduction and value innovation, leading to enhanced production efficiency and reduced operational costs [3] - During the reporting period, the sales and management expense ratios decreased by 0.27 percentage points year-on-year [3] - Looking ahead, the company is expected to maintain a competitive edge in the animal health sector and explore new growth opportunities through continued investment in mRNA vaccines and the development of ruminant vaccines [3]