富祥药业：三大业务协同发力 预计2025年净利同比大幅减亏

Core Viewpoint - Fuxiang Pharmaceutical is expected to significantly reduce its net loss in 2025, projecting a loss of 39 million to 57 million yuan, with a potential turnaround to profitability in Q4, driven by the synergy of its three main business segments: new energy, pharmaceutical manufacturing, and synthetic biology [1] Group 1: Business Performance - The new energy lithium battery electrolyte additive business is identified as the core driver of performance growth in 2025, benefiting from rising demand in the power battery and energy storage markets, leading to a substantial price increase for products like VC and FEC in Q4 [1] - The pharmaceutical manufacturing segment has optimized its operations despite intense market competition, with a decrease in the price of key raw materials like 6-APA alleviating cost pressures and improving gross margins [2] - The synthetic biology segment achieved significant milestones in 2025, obtaining key certifications that enable the transition from laboratory research to large-scale production, indicating a successful compliance pathway [2] Group 2: Future Outlook - For 2026, the company aims to consolidate its market position in the pharmaceutical sector while focusing on cost reduction and efficiency improvements [3] - The company plans to capitalize on the rising product prices in the new energy sector by enhancing production capacity through technological upgrades [3] - The company will accelerate the development of the synthetic biology protein project, expanding its application scenarios and enhancing its market presence both domestically and internationally [3]