HWPC(SH:688799) Xin Lang Cai Jing·2025-10-31 17:54Core Viewpoint - Warner Pharmaceutical, established in 2001 and listed in 2021, operates in the pharmaceutical sector with a focus on chemical raw materials, chemical preparations, and traditional Chinese medicine preparations, showcasing significant R&D capabilities and market competitiveness [1] Financial Performance - For Q3 2025, Warner Pharmaceutical reported revenue of 1.086 billion yuan, ranking 46th among 110 companies in the industry, with the industry leader, East China Pharmaceutical, generating 32.664 billion yuan [2] - The company's net profit for the same period was 197 million yuan, placing it 35th in the industry, while the top performer, Heng Rui Medicine, achieved a net profit of 5.76 billion yuan [2] Financial Ratios - As of Q3 2025, Warner Pharmaceutical's debt-to-asset ratio was 28.36%, an increase from 19.85% year-on-year, but still below the industry average of 35.26% [3] - The company's gross profit margin for Q3 2025 was 60.80%, down from 62.34% year-on-year, yet higher than the industry average of 57.17% [3] Executive Compensation - The chairman and general manager, Huang Bendong, received a salary of 1.0175 million yuan in 2024, reflecting a year-on-year increase of 8,900 yuan [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 11.83% to 6,416, while the average number of circulating A-shares held per shareholder increased by 13.42% to 20,500 [5] Business Highlights - In the first half of 2025, Warner Pharmaceutical's revenue was 714 million yuan, a year-on-year decline of 3.37%, with net profit dropping 36.95% to 71 million yuan [6] - The company formed three specialized marketing teams, achieving a 2.13% increase in sales revenue for raw materials to 180 million yuan, and a 34.46% increase in new drug sales to 67 million yuan [6] - R&D investment for the first half of 2025 was 80 million yuan, up 20.94%, accounting for 11.26% of revenue [6] - The company is advancing clinical trials for innovative drugs, with projected peak sales of 3.56 billion yuan by 2032 for a new oral antidepressant [6]