康诺生物递表港交所 商业化药物为旗舰线粒体药物恩艾地

Company Overview - Kangnuo Biopharmaceuticals is a biopharmaceutical company focused on the research, development, production, and commercialization of mitochondrial medicine and health products [2] - The company aims to address diseases caused by mitochondrial dysfunction, particularly in cardiovascular diseases, neurodegenerative diseases, reproductive health, and aging [2] - Kangnuo Biopharmaceuticals employs an integrated approach of "testing - intervention - assessment - re-intervention" to provide scientific solutions for extending healthy lifespan [2] Product Portfolio - The company has marketed and sold 20 drugs, generating revenue from these sales [2] - Its flagship drug, Enai Di (NAD+ injection), is the only NAD+ therapeutic drug approved both nationally and globally, establishing the company's leadership in the mitochondrial drug industry [2] - Other major commercialized drugs include Qianrongmei (Hyaluronidase injection), Tianshu (Kallikrein injection), and Sodium Nitroprusside injection, along with 16 generic drugs covering various therapeutic areas [3] Financial Performance - The company reported revenues of approximately 303 million RMB for the fiscal year 2023, 240 million RMB for 2024, and 238 million RMB for the nine months ending September 30, 2025 [4] - Profit and total comprehensive income for the same periods were approximately 79.5 million RMB, 33.9 million RMB, and 53.4 million RMB respectively [6] - The gross profit margins for 2023, 2024, and the nine months ending September 30, 2025, were approximately 87.4%, 83.4%, and 87.4% [8] Industry Overview - Mitochondrial dysfunction is increasingly recognized as a common pathological mechanism for aging-related diseases, including cardiovascular diseases, neurodegenerative diseases, metabolic diseases, and immune aging [10] - The market size for mitochondrial medicine products in China is projected to grow from 9.5 billion RMB in 2020 to 17.9 billion RMB in 2024, with a compound annual growth rate (CAGR) of 17.1% [10] - By 2035, the market size is expected to reach 308.1 billion RMB, with a CAGR of 29.5% from 2024 to 2035 [10]