Sou Hu Cai Jing·2025-11-27 02:16Core Viewpoint - The company is experiencing rapid growth in its pharmaceutical business, focusing on a large customer strategy and expanding its client base through CDMO (Contract Development and Manufacturing Organization) business models [1][2]. Pharmaceutical Business Development - The company has established stable commercial relationships with several leading global pharmaceutical enterprises and is actively seeking new strategic and high-commitment clients [1]. - The pharmaceutical division plans to expand its mature business areas, including small molecule CDMO, starting materials, and GMP intermediates, while also investing in emerging business developments such as peptide products and radiopharmaceuticals [2]. K Amine Product Status - The company continues to provide advanced intermediates for chlorantraniliprole (K amine) under a long-term partnership with a client, following a cost-plus pricing model for stability in processing fees [3]. New Energy Products - The company primarily sells LiFSI and electrolyte products, with ongoing technical improvements in lithium hexafluorophosphate projects. It anticipates a breakthrough in revenue from its new energy business in 2025 [4]. - The new energy sector is viewed as a long-term growth area, with the company focusing on large customer strategies and enhancing production capabilities [4]. Crop Protection Business - The crop protection industry is characterized by high concentration, and the company has formed long-term strategic partnerships with multiple international agrochemical firms, covering all stages of the product lifecycle [4]. - The company is establishing Malaysia as a second overseas base to meet supply chain needs, offering differentiated, one-stop supply chain solutions from China, the UK, and Malaysia [4]. Financial Performance - In the first three quarters of 2025, the company reported a main revenue of 4.718 billion yuan, an increase of 8.25% year-on-year, and a net profit of 316 million yuan, up 871.65% year-on-year [6]. - The third quarter alone saw a revenue of 1.569 billion yuan, a 13.61% increase year-on-year, with a net profit of approximately 91.89 million yuan, reflecting a 400.8% increase [6].