Youcare Pharmaceutical (SH:688658) 智通财经网·2025-12-30 00:18Company Overview - Yuekang Pharmaceutical is a biopharmaceutical company focused on the research, development, production, and commercialization of therapies including oligonucleotides, mRNA vaccines, peptides, and innovative traditional Chinese medicine [3] - The company leverages its commercial product portfolio, cross-modal R&D technology platform, GMP-certified production system, and nationwide commercialization network to advance differentiated innovation pipelines in major therapeutic areas with unmet needs and long-term growth potential [3][4] - Key products such as YK Tong® (Ginkgo biloba extract injection) and Ailisi® (Citrate of Sildenafil tablets) contribute significantly to the company's revenue and cash flow, providing a financial foundation for ongoing R&D investment and capacity expansion [3] Product Pipeline - The company's pipeline includes innovative candidates across discovery, preclinical, and clinical stages, focusing on four core modalities: oligonucleotides, mRNA vaccines, peptides, and innovative traditional Chinese medicine [4] - The pipeline is designed to address significant unmet needs in major disease areas and supports multiple projects running in parallel, with selected assets positioned for development in China and potentially overseas [4] Financial Performance - The company recorded revenues of approximately RMB 4.521 billion, RMB 4.183 billion, RMB 3.767 billion, and RMB 1.304 billion for the fiscal years 2022, 2023, 2024, and the seven months ending July 31, 2025, respectively [7] - The company reported a net loss of approximately RMB 146 million for the seven months ending July 31, 2025, primarily due to decreased revenue from cardiovascular products and significant investments in marketing and R&D activities [8] - Gross profit for the fiscal years 2022, 2023, 2024, and the seven months ending July 31, 2025, was approximately RMB 2.871 billion, RMB 2.578 billion, RMB 2.145 billion, and RMB 596 million, with corresponding gross margins of 63.5%, 61.6%, 56.9%, and 45.7% [9] Industry Overview - The global and Chinese pharmaceutical markets are expected to continue expanding from 2020 to 2024, driven by increasing medical demand, a growing burden of chronic diseases, and ongoing improvements in drug innovation and access [10] - The top five therapeutic areas by revenue globally in 2024 will include digestive and metabolic, oncology, systemic anti-infectives, nervous system, and respiratory [11] - The cardiovascular drug market is projected to grow from USD 87.3 billion in 2020 to USD 106.5 billion in 2024, with a compound annual growth rate (CAGR) of 5.1%, and is expected to reach USD 165.5 billion by 2035 [17]