Core Insights - Zhejiang Medicine's operating performance continues to double due to rising vitamin prices, with a significant increase in net profit despite only a slight increase in revenue [2][3] Financial Performance - In Q1 2025, the company achieved operating revenue of 2.255 billion yuan, a year-on-year increase of 0.28%, while net profit attributable to shareholders reached 409 million yuan, up 273.08% [2] - For the full year 2024, Zhejiang Medicine reported operating revenue of 9.375 billion yuan, a historical high with a year-on-year growth of 20.29%, and net profit of 1.161 billion yuan, up 170.11% [3] - The company's net profit and deducting non-recurring profit both saw significant increases, driven by rising market prices and demand for its main products, vitamin E and vitamin A [3] Product Performance - Revenue from vitamin and vitamin-related products reached 4.696 billion yuan in 2024, a year-on-year increase of 45.33%, with a decrease in operating costs by 3.40% and a gross margin of 54.54%, up 22.93 percentage points from the previous year [3] - The company specializes in life nutrition products, including synthetic vitamin E, vitamin A, and other vitamins, holding a leading position in both domestic and international markets [2] Cash Flow and Financial Health - Zhejiang Medicine experienced a significant inflow of operating cash flow, amounting to 1.223 billion yuan in 2024, a year-on-year increase of 92.90% [3] - As of the end of March 2025, the company's asset-liability ratio stood at 19.51%, with financial expenses turning negative at -40.72 million yuan compared to 2.007 million yuan in the same period last year [4]