Zhi Tong Cai Jing·2026-01-20 12:12Core Viewpoint - The company, Zhaoyan New Drug (603127), anticipates a decline in operating revenue for 2025, while projecting a significant increase in net profit attributable to shareholders compared to the previous year [1][2] Group 1: Financial Projections - The company expects operating revenue for 2025 to be approximately RMB 1.573 billion to RMB 1.738 billion, representing a decrease of about RMB 280 million to RMB 446 million, or a year-on-year decline of approximately 13.9% to 22.1% [1] - The projected net profit attributable to shareholders for 2025 is expected to be around RMB 233 million to RMB 349 million, an increase of approximately RMB 159 million to RMB 275 million, or a year-on-year increase of about 214.0% to 371.0% [1] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be approximately RMB 246 million to RMB 370 million, reflecting an increase of about RMB 223 million to RMB 346 million, or a year-on-year increase of approximately 945.2% to 1,467.7% [1] Group 2: Contributions to Performance - The increase in the fair value of biological assets is expected to contribute approximately RMB 452 million to RMB 500 million to net profit [1] - The laboratory services and other business segments are projected to incur a net loss of approximately RMB 2.06 billion to RMB 1.3 billion [1] - The rise in market prices of biological assets, combined with natural growth appreciation, has positively impacted the company's performance [2] - The laboratory operations have maintained stable performance; however, revenue and gross margin from contract fulfillment have decreased year-on-year due to prior intense industry competition, leading to a decline in profit contribution from laboratory services [2]