Investment Rating - The investment rating for the company is "Accumulate" [4][9] Core Views - The company has shown stable revenue growth with a reported revenue of 544.47 million yuan in 2024, representing an 11.18% year-on-year increase. The first quarter of 2025 saw a further increase in revenue to 169 million yuan, a 29.61% year-on-year growth [4][5] - The company's profitability is on a recovery trend, with the first quarter of 2025 showing a net profit of 12 million yuan, a significant increase of 226.47% year-on-year [4][5] - The drug discovery segment continues to grow steadily, while the commercialization segment has experienced rapid expansion, contributing significantly to revenue growth [5][6] - The company has successfully launched its AI-enabled platform DiOrion, which is expected to enhance drug discovery efficiency and innovation capabilities [7][8] Financial Summary - In 2024, the company achieved a total revenue of 544.47 million yuan, with a projected revenue of 727.57 million yuan for 2025, indicating a growth rate of 33.63% [11] - The net profit for 2024 was 17.08 million yuan, with projections of 40.42 million yuan for 2025, reflecting a growth rate of 136.61% [11] - The earnings per share (EPS) are expected to increase from 0.12 yuan in 2024 to 0.29 yuan in 2025 [11] Business Segments - The drug discovery segment generated 317 million yuan in revenue in 2024, accounting for 58.14% of total revenue, with a year-on-year growth of 7.97% [5] - The commercialization segment achieved a revenue of 165 million yuan, growing by 51.02% year-on-year, indicating its role as a key driver of revenue growth [5] - The company has expanded its active client base in the CRO/CDMO sector to 399 clients, a 99.50% increase year-on-year, demonstrating effective market expansion efforts [6]
泓博医药（301230）：盈利能力修复向好，AI赋能平台DiOrion上线运行