Hotgen(SH:688068) Xin Lang Cai Jing·2026-01-16 08:38Core Viewpoint - The company, Recbio, anticipates a significant decline in revenue and an increase in net losses for the year 2025, primarily due to industry policy changes and increased R&D investments [1] Financial Performance - Expected revenue for 2025 is projected to be between 400 million to 420 million yuan, representing a year-on-year decrease of 17.79% to 21.71% [1] - The net profit attributable to the parent company is forecasted to be between -210 million to -230 million yuan, indicating an increase in losses by 9.94% to 20.42% [1] - The non-recurring net profit is expected to range from -250 million to -270 million yuan [1] Factors Influencing Performance - The performance changes are mainly attributed to industry policies such as centralized procurement and tax policy adjustments, as well as impairment losses on operating assets [1] - Increased R&D investments following the capital increase in Shunjing Pharmaceutical and the consolidation of financial statements are also contributing factors [1] - The company has seen expanded investment losses due to increased R&D expenditures in joint ventures [1]