THDB(SH:600867) Cai Fu Zai Xian·2026-02-02 07:06Core Viewpoint - Tonghua Dongbao Pharmaceutical Co., Ltd. has announced a significant profit forecast for 2025, projecting a net profit of approximately 1.242 billion yuan, highlighting the company's strong resilience and growth potential in the industry [1] Group 1: Financial Performance - The company expects a substantial recovery in its performance, driven by steady growth in its core business and positive contributions from non-recurring gains [1] - Investment income from the transfer of shares in Xiamen Te Bao Bioengineering Co., Ltd. has provided strong support for the company's performance [1] - Core profitability indicators have significantly improved due to ongoing efforts in product structure upgrades, international expansion, and innovative research and development [1] Group 2: Market Position and Product Development - As a leading player in the domestic insulin market, the sales volume of insulin analog products has become the main driver of the company's growth in 2025, with a year-on-year increase of over 100% [1] - The revenue share of insulin analogs continues to rise, facilitating a strategic transition from a focus on human insulin to a balanced development of both human insulin and insulin analogs [1] - The company has achieved significant breakthroughs in hospital access and sales for insulin analogs, laying a solid foundation for ongoing performance recovery [1] Group 3: Market Share and International Expansion - According to data from Yao Yi Magic Cube, the company ranks second in market share for human insulin and insulin analogs, with a human insulin market share of 45.5%, maintaining the top position domestically [2] - The market share of glargine insulin has steadily increased to 15.0%, while the market share of aspart insulin is rapidly expanding, contributing to a significant rise in domestic sales revenue [2] - Following a nearly 80% year-on-year growth in overseas revenue in 2024, the company continues to experience strong growth in 2025, expanding its international product registration and market presence [2] Group 4: Future Outlook - The company aims to leverage the continuous recovery of its 2025 performance to solidify its domestic insulin market position, optimize product structure, and expand market share [2] - There is a focus on accelerating international strategic initiatives, enhancing research and development efforts, and building a comprehensive pipeline to foster sustainable high-quality development [2]