Mei Ri Jing Ji Xin Wen·2026-01-26 09:13Core Viewpoint - Zhaoyan New Drug has announced a significant increase in its 2025 annual performance forecast, with a minimum increase of 945% in net profit excluding non-recurring items, despite a projected decrease in revenue [1][2]. Group 1: Financial Performance - The company expects to achieve an operating income of approximately 1.573 billion to 1.738 billion yuan in 2025, representing a decrease of about 13.9% to 22.1% compared to 2024 [2]. - The projected net profit for 2025 is estimated to be between 233 million to 349 million yuan, an increase of approximately 214% to 371% year-on-year [2]. - The net profit excluding non-recurring items is expected to be between 246 million to 370 million yuan, reflecting an increase of approximately 945.2% to 1467.7% compared to 2024 [2]. Group 2: Asset Valuation and Pricing - The increase in net profit is attributed to the positive change in the fair market value of biological assets, contributing approximately 452 million to 499 million yuan to net profit [2]. - The biological assets primarily consist of experimental models used for non-clinical research, with a significant price increase expected in the second half of 2025 [3]. - The average procurement price for non-human primate experimental animals reached a high of 150,000 to 200,000 yuan per unit in the second half of 2022, but declined to 70,000 to 100,000 yuan per unit by the second half of 2024 [3]. Group 3: Shareholder Actions - Following the strong performance of the stock, the actual controller of Zhaoyan New Drug, Zhou Zhiwen, has initiated a share reduction plan, having already sold over 10 million shares for more than 370 million yuan [1][4]. - As of January 26, 2026, the closing price of Zhaoyan New Drug was 41.39 yuan, with a market capitalization of approximately 31.02 billion yuan [4]. - Zhou Zhiwen plans to reduce his holdings by up to 14.98 million shares, which is about 1.99873% of the total share capital [4].