Investment Rating - The report does not specify a clear investment rating for the company [1] Core Insights - The company reported a revenue of 460 million RMB for 2023, with pharmaceutical sales contributing 340 million RMB [2] - The company is focusing on research and development, with plans to initiate a registration trial for CS5001 by the end of 2024 [2] - The company has established multiple commercial partnerships, including exclusive commercialization rights for drugs in mainland China and other regions [2] - The company expects to generate revenues of 400 million RMB, 460 million RMB, and 590 million RMB for the years 2024, 2025, and 2026 respectively [3][10] Revenue Forecast - The company’s revenue for 2023 was 460 million RMB, with projections of 400 million RMB for 2024, 460 million RMB for 2025, and 590 million RMB for 2026 [3][10] - The growth rates for revenue are projected to be -13.60% in 2024, 14.94% in 2025, and 29.05% in 2026 [4] - The company anticipates that the revenue from the drug Pralsetinib will be 220 million RMB, 270 million RMB, and 340 million RMB for the years 2024, 2025, and 2026 respectively [8] Financial Performance - The net profit attributable to the parent company is projected to be -367.23 million RMB in 2024, -437.53 million RMB in 2025, and -443.99 million RMB in 2026 [4] - The earnings per share (EPS) are expected to be -0.29, -0.34, and -0.35 for the years 2024, 2025, and 2026 respectively [4] - The return on equity (ROE) is projected to be -2267.00% in 2024, 104.54% in 2025, and 51.54% in 2026 [4]
聚焦于研发，CS5001计划启动注册性试验