Core Insights - The company reported a revenue of 1.23 billion yuan for 2024, with a net profit of 142 million yuan, marking a year-on-year growth of 22.18% [1] - In Q1 2025, the company achieved a revenue of 232 million yuan, reflecting an 8.90% year-on-year increase, and a net profit of approximately 25.67 million yuan, up 15.92% year-on-year [1] - The company maintained a high R&D investment intensity, with R&D expenditures of 157 million yuan in 2024, accounting for 12.79% of revenue, an increase of 0.57 percentage points year-on-year [1] R&D Progress - The company made significant advancements in several R&D projects during the reporting period, including the completion of Phase III clinical trials for KW-001 and the submission of a drug registration application [1] - KW-045 completed treatment and follow-up for all participants in its Phase IIa clinical trial for pediatric herpes pharyngitis [1] - KW-051 and KW-053 also progressed in their respective clinical trials, with KW-053 receiving approval for Phase II trials [1] Patent Activity - In 2024, the company applied for 9 invention patents and received authorization for 7, bringing the total to 175 applications and 60 authorized patents by the end of the reporting period [2] Capacity and Facility Upgrades - The company is advancing its antibody production base project, which has been included in Beijing's key engineering plans, with the main structure completed [3] - The company is upgrading its oral solid dosage production line and expanding capacity to accommodate future product launches [3] - The company is committed to enhancing its R&D capabilities and technical platform while focusing on innovative drug development and international collaboration [3]