Fushine(SZ:300497) Zheng Quan Ri Bao·2026-01-27 07:07Core Viewpoint - Fujian Pharmaceutical is experiencing significant operational improvement in 2025, driven primarily by its lithium battery electrolyte additive business, which has benefited from rising demand in the power battery and energy storage markets [1][5]. Group 1: Business Performance - The lithium battery electrolyte additive products, such as VC and FEC, saw a substantial price increase in Q4 2025, with battery-grade VC averaging 164,000 yuan/ton, up over 200% from the low in September [1]. - The pharmaceutical manufacturing segment has optimized steadily despite intense market competition, with a decrease in the price of key raw materials like 6-APA, leading to an improvement in gross margins [1][2]. - The company reported a net loss of 39 million to 57 million yuan for the year, marking a significant reduction in losses, and achieved profitability in Q4, indicating a positive trend in operational performance [5]. Group 2: Future Outlook - The synthetic biological microbial protein business achieved critical breakthroughs in 2025, obtaining multiple certifications that pave the way for large-scale production, although its contribution to 2025's performance is limited [3]. - For 2026, the company plans to consolidate its market position in pharmaceuticals, leverage price increases in the new energy sector, and accelerate the development of the microbial protein project to enhance capacity and market presence [3].