Sou Hu Cai Jing·2026-01-31 17:20Performance Forecast - The company expects a net loss attributable to shareholders for the year 2025, estimated between RMB -180 million and RMB -120 million compared to the previous year [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between RMB -200 million and RMB -140 million for 2025 [1] Previous Year Performance - In the previous year, the total profit was RMB 5.4579 million, with a net profit attributable to shareholders of RMB 39.7339 million [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was RMB 514.52 million [1] - Earnings per share for the previous year were RMB 0.04 [1] Reasons for Performance Change - The company has increased its R&D investment, which now constitutes a higher percentage of revenue, with approximately RMB 350 million invested during the reporting period [2] - Significant progress has been made in clinical trials, including the completion of patient enrollment for the FDA018 antibody-drug conjugate project ahead of schedule, with over 350 cases enrolled [1][2] - The company has adjusted its sales strategy for the liposomal doxorubicin injection product due to its inclusion in the national procurement catalog, leading to a profit contribution decrease of approximately RMB 100 million compared to the previous year [2]