Core Viewpoint - The strategic research and development collaboration agreement between the company and AstraZeneca, valued at over $5.3 billion, marks a significant business development milestone for the company, focusing on AI-driven drug discovery projects [2][3]. Group 1: Strategic Collaboration - The agreement with AstraZeneca involves utilizing the company's AI engine-driven platform for efficient drug discovery, specifically targeting the development of new oral small molecule candidates [3]. - The collaboration will focus on discovering preclinical candidates for multiple disease indications, including an oral therapy for immune diseases [5]. - AstraZeneca will have exclusive rights for global development, production, and commercialization of selected candidates, with the company receiving an upfront payment of $110 million and potential milestone payments totaling up to $52.2 billion [5]. Group 2: Financial Performance - The company reported a revenue of 29.01 billion yuan in 2024, a year-on-year decline of 7.76%, and a net profit of 4.33 billion yuan, down 26.31%, marking the first time in a decade that both revenue and net profit have declined [7]. - In the first quarter of 2025, the company experienced a revenue drop of 21.91% year-on-year, amounting to 7.02 billion yuan, with a net profit decrease of 8.36% to 1.48 billion yuan [7]. Group 3: Market Reactions and Trends - The announcement of the collaboration has led to increased interest in similar "pre-announcement business development" strategies within the industry, as seen with other companies like China National Pharmaceutical Group [8]. - Following the news, shares of China National Pharmaceutical surged nearly 20%, indicating a positive market reaction to strategic collaborations in the biopharmaceutical sector [9].