康缘药业Q3经营稳健 多业态布局拓宽增长空间

Core Insights - The company reported a revenue of 701 million yuan and a net profit attributable to shareholders of 57.27 million yuan for Q3 2025, facing performance pressure due to external environment complexities and market demand fluctuations [1] - Despite challenges, the company is not slowing down its development pace and is focusing on strengthening its operational foundation for future growth [1] Academic Marketing and Product Value - The company is enhancing its academic marketing system by focusing on evidence-based research, updating academic materials, and promoting products into authoritative guidelines [2] - A total of 248 sets of academic materials have been updated, covering key product lines such as respiratory and cardiovascular diseases, which align clinical value with market needs [2] - The company has successfully integrated 10 core products into 6 authoritative guidelines, which is expected to boost prescription willingness among doctors and drive sales growth [2] Diversified Sales Channels - To mitigate risks from single-channel dependency, the company is actively developing a multi-faceted sales strategy, including agency recruitment, OTC, channel sales, and clinic distribution [3] - The company is enhancing the quality and academic promotion capabilities of its agents through standardized admission criteria and professional training [3] - In the OTC sector, the company is focusing on core products and collaborating with new retail channels to stabilize market prices while achieving success in expanding into small chain and generic drug markets [3] Operational Improvements and Future Outlook - The company is strengthening evidence-based medical support and building an academic marketing team to enhance professional and academic capabilities [4] - Despite facing performance pressure, the company is implementing precise measures to solidify its operational foundation, showing signs of marginal improvement in its fundamentals [4] - With the continued expansion of terminal coverage for core products and the gradual release of academic promotion effects, the company is expected to gradually reverse the performance volatility and achieve more stable growth [4]