Core Insights - The successful shipment of the first batch of Bevacizumab biosimilar to Colombia marks a significant milestone for the company in deepening its presence in the Latin American market [1] Group 1: Overseas Commercialization Strategy - The company has been actively advancing the overseas registration of its collaborative products, receiving industry acclaim for its "multi-country registration" commercial efficiency [2] - The innovative "global selection + global coverage" outbound platform model has led to partnerships with several well-known pharmaceutical companies, securing over twenty key products for overseas commercialization across diverse therapeutic areas [2] - Colombia, as the fourth largest pharmaceutical market in Latin America, has seen a notable increase in the export of Chinese pharmaceutical products, with a 10.4% year-on-year growth in the first quarter of 2025 [2] Group 2: Regulatory and Market Entry - The Colombian pharmaceutical market is a key focus for the company, with the local regulatory body INVIMA's standards closely aligned with international authorities like the FDA and EMA, indicating a high level of market entry rigor [2] - The INVIMA certification is expected to facilitate the introduction of Bevacizumab in other Latin American markets, enhancing the company's overall market penetration strategy [2] Group 3: Collaborative Efforts and Future Plans - The successful commercialization of Bevacizumab overseas is attributed to the deep collaboration between the company and its partner, which ensures stringent production compliance and high product quality [3] - The company plans to continue advancing the registration of Bevacizumab in Latin America and other key markets, while also enhancing its local operational capabilities for other products [3] - The ongoing efforts aim to expand the company's international footprint and provide hope for more patients through access to essential medications [3]

Key Points Summary of the Conference Call for Kexing Pharmaceutical Company Overview - Kexing Pharmaceutical reported a robust performance in 2024, achieving total revenue of 1.85 billion yuan, a year-on-year increase of 60% [4][3] - The company turned a profit with a net profit of 35 million yuan, and EBITDA of 204 million yuan, reflecting over 200% growth [4][3] Financial Performance - Total revenue for 2024 reached 1.4 billion yuan, with a 12% year-on-year growth [3] - Q4 revenue was 317 million yuan, up 27% year-on-year [3] - Overseas sales revenue was 220 million yuan, marking a 60% increase [3][4] - Operating cash flow turned positive, reaching 100 million yuan [4][3] Domestic Market Performance - Domestic sales revenue was 1.18 billion yuan, showing stable growth despite the impact of centralized procurement [5][4] - The company maintained a solid domestic market presence, indicating a stable foundation [5][4] Overseas Market Performance - Kexing's overseas sales grew by 60% in 2024, primarily driven by the sales of interleukin in the EU [6][4] - The company has introduced 16 new products and established branches in multiple regions to enhance marketing capabilities [6][4] Research and Development - R&D expenses remained high at approximately 1 billion yuan, with significant investment in Phase III clinical trials [7][4] - The company is focusing on innovative products based on antibody and protein technology platforms, including the GB05 project for RSV treatment, which has entered Phase III trials [7][4] Future Development Strategy - Kexing aims to focus on protein antibodies and delivery technology innovations over the next five years, planning to establish subsidiaries for collagen, trillion replacements, and anti-tumor products [10][4] - The company targets achieving 6 NDAs and 15 INDs within five years, aspiring to become a high-quality drug export platform covering over 70 countries [10][4] Equity Incentive Plan - Kexing launched a second equity incentive plan in 2024, targeting a sales growth of 200%-400% for 2025, with a minimum sales goal of 60 million USD [9][4] Commercialization and Product Pipeline - The company has formed a trend of "introducing, launching, and scaling" its products, with expectations of reaching a minimum overseas sales peak of 1.5 billion yuan by 2026 or 2027 [12][4] - Kexing is focusing on antibody and protein drug development in oncology and autoimmune fields, emphasizing the Kexing body platform [17][4] Regulatory and Market Expansion - Kexing has established a German subsidiary to enhance its presence in the EU market, with plans to introduce 10 to 20 products focusing on oncology, autoimmune, and metabolic diseases [31][4] - The company is actively researching market demands and competition in Europe to quickly collaborate with domestic partners for product launches [31][4] Conclusion - Kexing Pharmaceutical is committed to innovation and internationalization, with clear strategic goals for the coming years, aiming to enhance its quality and market position [33][4]