华润双鹤公告，全资子公司 华润紫竹药业有限公司的地诺孕素片获得俄罗斯联邦卫生部颁发的《药品 注册证书》。该药品用于治疗子宫内膜异位症，华润紫竹于2022年9月启动注册工作，2024年3月提交上 市许可申请并获批。截至公告日，研发投入为18.9万元人民币。2023年，地诺孕素片全球销售额为3.65 亿美元。2024年，国内销售总额为7.9亿元人民币，其中Jenapharm市场份额为87.18%，上海汇伦江苏药 业为9.32%。2024年，公司该药品销售收入为4,276.49万元，在俄罗斯尚未形成销售。 ...

Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company's core business shows stable growth, driven by both R&D and restructuring efforts [8] - In 2024, the company achieved total revenue of 25.435 billion yuan, a year-on-year increase of 3.71%, while the net profit attributable to shareholders was 1.330 billion yuan, a decrease of 37.70% [8] - The company is focusing on core products and accelerating R&D innovation, with over 500 projects in the pipeline, including more than 60 innovative drug projects [8] Financial Performance Summary - Total revenue forecast for 2024 is 25.435 billion yuan, with a projected growth rate of 3.71% [8] - The net profit attributable to shareholders is expected to be 1.330 billion yuan in 2024, with a significant decrease of 37.70% [8] - The earnings per share (EPS) for 2024 is projected at 0.81 yuan, with a P/E ratio of 25.56 [8] - The company’s R&D expenses for 2024 are estimated at 1.471 billion yuan, reflecting a slight increase of 0.59% [8] - The company’s core anesthetic business is expected to grow steadily, with net profit forecasts for 2025 and 2026 adjusted to 2.224 billion yuan and 2.653 billion yuan, respectively [8]