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同和药业(300636) - 300636同和药业投资者关系管理信息20250605
2025-06-06 08:04
2 / 3 | | 未来几年收入增速会加快吗? | | --- | --- | | | 答:预计 2025 年销售收入增长 10%左右,由于新产能投放, | | | 预计 2026-2027 年销售收入增速会加快。 | | | 10、问:与印度公司的竞争情况? | | | 答:大多数品种都有来自印度的竞争。成本控制上双方各 | | | 有优势,有些品种成本印度低,有些品种同和更低;公司 | | | 在合成工艺成熟度、研发速度、原料成本方面强于印度公 | | | 司,但国内安全环保要求高,安全、环保费及设备折旧费 | | | 用高于印度公司。总体来看净利率相差不大。 | | | 11、问:预计今后销售量级较大的新品种有哪些? | | | 答:利伐沙班、阿派沙班、恩格列净、卡格列净、维格列 | | | 汀、非布司他、阿齐沙坦这几个品种未来都会有不错的销 | | | 售表现。 | | 附件清单(如有) | 无 | 3 / 3 江西同和药业股份有限公司投资者关系活动记录表 | 证券简称:同和药业 | 证券代码:300636 编号:2025004 | | --- | --- | | 投资者关系活动类型 | 特定对象调 ...
原料药板块Q1利润同比快速增长,关注行业供需改善
Investment Rating - The report indicates a positive outlook for the pharmaceutical raw materials sector, highlighting a significant profit growth in Q1 and an expected improvement in industry supply and demand dynamics [3][4]. Core Insights - The pharmaceutical raw materials sector experienced a revenue of CNY 1176.77 billion in 2024, a year-on-year increase of 6.74%, with a net profit of CNY 150.46 billion, reflecting a growth of 27.89% [3][4][21]. - In Q1 2025, the sector's revenue was CNY 295.46 billion, a slight decline of 0.48% year-on-year, but net profit increased by 20.87% to CNY 45.62 billion [3][4][21]. - The report emphasizes that the rapid profit growth is attributed to several factors, including a low base in H2 2023, the end of inventory destocking by global downstream manufacturers, and improved product pricing stability [3][4][21][23]. Summary by Sections Q1 Performance - The raw materials sector's revenue was stable year-on-year, with a slight decline in Q1 2025 compared to the previous year, while profits showed significant growth [3][4][21]. - The sector's gross margin improved to 38.14% in Q1 2025, up 1.76 percentage points year-on-year, and the net margin reached 15.41%, an increase of 2.63 percentage points [4][25]. Industry Concentration - The top 10 companies in the raw materials sector contributed over 73% of total revenue in 2024, with significant contributions from companies like New and Cheng and Pro Pharmaceutical [31][33]. - In Q1 2025, the top 10 companies accounted for 73.19% of total revenue, indicating a slight decrease in concentration compared to the previous year [33][34]. Valuation and Construction Projects - The report notes that the valuation of the raw materials sector remains at historical lows, with a PE ratio of 30.26x at the end of 2024 and 33.97x at the end of Q1 2025 [5][42]. - The total construction projects in the sector decreased to CNY 163.57 billion by Q1 2025, reflecting a decline of 4.31% year-on-year, indicating a slowdown in capacity expansion [9][44]. Investment Recommendations - The report suggests focusing on companies with strong performance certainty in the formulation and CDMO sectors, such as Aorite and Pro Pharmaceutical, as well as those with significant new product contributions [10][38]. - It highlights the potential for increased demand for raw materials due to the expiration of patents for top-selling small molecule drugs in the coming years [6][42].
永太科技2024年营收增长11% 植保板块成为2024年最大亮点,营收同比大增91.79%
Quan Jing Wang· 2025-04-28 09:03
永太科技(002326.SZ)于2025年4月27日发布了其2024年度报告。数据显示,公司全年实现营业收入达 458,939.78万元,同比增长11.18%;尽管扣非后净利润仍处于-44,387.17万元的亏损状态,但同比已大幅 收窄36.26%,显示了公司在提升经营效率和盈利能力方面的积极进展。 在锂电材料领域,永太科技2024年的营收规模同比增长18.07%,毛利率从上一年度的-28.31%回升 至-5.24%。公司通过不断的技术工艺改进和降本增效措施,强化了垂直一体化产业链的优势以及规模化 生产带来的成本优势。尽管产品价格仍处低位,尚未实现盈利,但随着电解液项目产销规模的稳步增 长,预期未来业绩将进一步改善。 植物保护板块成为2024年的一大亮点,营收规模同比增长高达91.79%,毛利率也增加了2.65个百分点。 主要得益于公司部分植保项目的顺利投产,加之下游需求的回暖,使得公司的产销量进一步扩大。这一 成果体现了公司在拓展市场、满足客户需求方面的能力与决心。 医药板块方面,由于受到原研药专利到期的影响,市场竞争加剧导致产品价格下降,2024年营收规模同 比下降3.57%,毛利率减少了0.77个百分点 ...