Investment Rating - The investment rating for the company is "Outperform" (Maintain) [1] Core Views - The company reported a 49% increase in net profit attributable to shareholders for the first three quarters of 2024 [1] - Revenue for Q1-Q3 2024 reached 653 million yuan, a year-on-year increase of 24% [2] - The company is undergoing capacity upgrades, adding a production line with a capacity of 300 million tablets, expected to be operational by September 2024 [3] - R&D expenses increased by 70% in Q1-Q3 2024, with a focus on both generic and innovative drug development [4] Financial Summary - For 2024, the company forecasts revenue of 823 million yuan and net profit of 158 million yuan, with corresponding EPS of 2.02 yuan [5] - The gross margin is projected to be 81.7% for 2024, with a net margin of 19.2% [5] - The company's total assets are expected to reach 1.306 billion yuan by 2024, with total liabilities of 228 million yuan [7]
德源药业：北交所信息更新：募投生产基地年底试生产，2024前三季度归母净利润+49%