一品红前三季度扣非净利润亏损扩大至1.79亿元，再发痛风创新药利好

Core Viewpoint - The company Yipinhong reported an expanded loss in the first three quarters of 2025, with a net profit attributable to shareholders of -1.36 billion yuan and a non-recurring net profit of -1.79 billion yuan, while also highlighting positive developments in its gout drug research [2][4]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 814 million yuan, a year-on-year decrease of 34.35% [4]. - The gross profit margin for the first three quarters of 2025 was 59.23%, down from 66.53% in the same period last year, indicating a decline of approximately 7 percentage points [5][6]. - The company's sales expenses for the first three quarters amounted to 289.6 million yuan, accounting for 35.58% of revenue, compared to 359.4 million yuan and 28.98% in the same period last year [6][7]. Research and Development - The company announced positive clinical results for its gout drug, Deuterated Parnate (AR882), which showed effectiveness in reducing uric acid levels and dissolving gout stones in patients [11]. - The drug's clinical findings were presented at the ACR 2025 (American College of Rheumatology Annual Meeting), indicating potential as a more effective treatment option for chronic gout stone patients [11]. Market Performance - The stock price of Yipinhong saw a maximum increase of 4.4 times earlier this year, but has since corrected by approximately 35% over the past three months, with a year-to-date increase of 212% as of October 29, 2025 [11]. - As of the same date, the company's market capitalization stood at 24.08 billion yuan [11].