Core Insights - The company reported a revenue of 3.63 billion yuan in 2024, a decrease of 4.44% year-on-year [4] - The net profit attributable to shareholders was 230.76 million yuan, down 27.98% compared to the previous year [4] - The company is actively reducing low-margin wholesale and retail drug businesses, which, along with increased R&D investment and rising raw material costs, has pressured profit margins [2] Financial Performance - Revenue for 2024 was 36.30 billion yuan, a decline of 4.44% year-on-year [4] - Net profit attributable to shareholders was 2.31 billion yuan, a decrease of 27.98% [4] - The net profit after deducting non-recurring items was 2.19 billion yuan, down 27.92% [4] - Basic earnings per share were 0.55 yuan [4] Asset and Cash Flow - Cash and cash equivalents decreased from 1.998 billion yuan to 1.344 billion yuan, primarily due to increased long-term deposits [3] - Short-term borrowings decreased by 79% to 12 million yuan, with long-term borrowings eliminated [3] - Net assets at the end of the period reached 2.462 billion yuan, a year-on-year increase of 3.04% [3] Business Segmentation - Revenue from drug production was 1.002 billion yuan, an increase of 4.2% year-on-year [3] - Revenue from traditional Chinese medicine slices decreased by 16.55% to 56 million yuan [3] - Revenue from drug wholesale and retail was 149 million yuan, down 12.39% [3] - Notable product performance included a 32% decline in entertainment products, a 13.3% increase in sanitary napkins, and a 30% increase in other products [3] R&D Investment - R&D expenditure for 2024 was 235 million yuan, accounting for 6.46% of revenue [3] - The company is advancing several products, including the registration of classic formulas and submissions for generic drugs [3]

Core Viewpoint - Tianjin Pharmaceutical Industry is recognized as a leading domestic manufacturer of steroid hormone drugs and a global leader in amino acid raw materials, showcasing its advanced position and demonstration effect in the industry for the year 2024 [1] Product Matrix - The company has a diverse product matrix with over 70 types of raw materials, including dexamethasone series, prednisone series, methylprednisolone series, betamethasone series, and amino acids, as well as more than 10 dosage forms such as injections, ointments, and tablets, catering to various patient treatment needs [2] R&D Innovation - In recent years, the company has significantly enhanced its product R&D and scientific research system, focusing on steroid hormones and amino acids, and implementing a "raw materials + formulations" full industry chain layout, with R&D investment reaching 248 million yuan in 2024, accounting for 7.7% of revenue, reflecting its strong R&D capabilities [3] Dual-Track Strategy - The company employs a dual-track strategy of "innovation line" and "generic line" to accelerate the new drug approval process, with 11 specifications of 10 products recently receiving approval, including the first domestic approval for a specific injection by its subsidiary [4] Market Performance - Among its products, the injection of isopropyl methochloride has shown strong market performance, with sales increasing from 756 million yuan in 2022 to 821 million yuan in 2023, and is expected to expand further due to its inclusion in the national medical insurance [5] - The inhalation solution of acetylcysteine is also a national medical insurance drug, with significant market potential in treating respiratory diseases, indicating a stable growth outlook as the patient population expands [5] Future Outlook - The company plans to continue its commitment to innovation, increasing investment in technology R&D, and focusing on new product development and consistency evaluation to provide high-quality, efficient drugs for patients and deliver substantial value returns to shareholders [6]

海思科（002653）公告，子公司西藏海思科制药有限公司收到国家药品监督管理局下发的《受理通知 书》。药品名称为HSK45030分散片，剂型为分散片，适应症为拟用于肌营养不良症。HSK45030是公司 自主研发的一种口服、选择性靶向小分子抑制剂。根据临床前研究，HSK45030能显著有效减少因肌节 过度收缩而引起的肌肉损伤，在动物模型中展现了优异的抗肌萎缩的疗效。 ...