Core Viewpoint - The announcement indicates that Lifesun Pharmaceutical's subsidiary, Central Pharmaceutical, has successfully passed the consistency evaluation for the generic drug Cefaclor sustained-release tablets 0.375g, which is beneficial for enhancing market competitiveness [1] Group 1: Product Information - The Cefaclor sustained-release tablets are indicated for the treatment of various conditions including acute bronchitis, acute exacerbation of chronic bronchitis, pneumonia, pharyngitis, tonsillitis, sinusitis, uncomplicated lower urinary tract infections, and skin soft tissue infections [1] Group 2: Market Impact - The company believes that passing the consistency evaluation will improve its market competitiveness; however, the sales performance of the product may be influenced by changes in the market environment, leading to uncertainty [1]

Core Viewpoint - The company, Anglikang, is navigating challenges such as deepening centralized procurement policies and restructuring of the pricing system while maintaining a focus on an integrated "raw materials + formulations" industry chain layout, emphasizing both generic drug development and innovation in new drugs [1][8]. Financial Performance - In 2024, the company achieved total operating revenue of 1.538 billion yuan and a net profit attributable to shareholders of 80 million yuan [1]. Generic Drug Strategy - Anglikang has a strong presence in the generic drug sector, particularly in oral cephalosporin antibiotics and cardiovascular drugs, and is actively optimizing its marketing and product structure to ensure stable market share growth amid intensified procurement policies [2]. - The company successfully increased sales of its key products, such as the left-handed amlodipine besylate tablets, and saw a 44.81% year-on-year increase in sales of cefaclor sustained-release tablets, marking new growth points [2]. International Expansion - The company is advancing its international strategy by submitting registration applications for several cephalosporin raw materials in countries like India, Vietnam, Brazil, and South Korea, while also preparing for EU registration [3]. - The specialty intermediate business, driven by overseas orders, achieved a 33.69% year-on-year growth, supported by international certifications [3]. R&D Investment - Despite industry-wide profit compression, Anglikang increased its R&D investment to 230 million yuan in 2024, a 33.74% increase, representing 14.99% of its operating revenue, reflecting its commitment to innovation [4]. - The company is advancing both independent and collaborative R&D efforts, with multiple new products receiving drug registration certificates during the reporting period [4]. Subsidiary Developments - Subsidiaries like Keri Bio have secured patents and contributed to national standards, showcasing their technological leadership in plant-derived steroid drugs [5]. Sustainable Development - Anglikang is focused on optimizing production processes and promoting green manufacturing, achieving energy savings and emission control goals in 2024 [6]. - The company is transitioning cephalosporin products from traditional chemical methods to enzyme methods, indicating progress in sustainable practices [7]. Industry Positioning - The pharmaceutical industry is undergoing significant changes, with centralized procurement becoming normalized, which raises demands for cost control and product innovation [8]. - Anglikang aims to create a virtuous cycle of development by balancing generic and innovative drug strategies, positioning itself for sustainable growth in the long term [8].

Core Viewpoint - The company, Zhejiang Dongya Pharmaceutical Co., Ltd., reported a decrease in revenue and net profit for the year 2024, indicating challenges in its financial performance amidst a growing pharmaceutical market. Company Overview - Zhejiang Dongya Pharmaceutical operates in the pharmaceutical manufacturing industry, specifically in the chemical pharmaceutical sector, which is positioned in the midstream of the overall pharmaceutical industry chain [6][19]. Market Overview - The global pharmaceutical market is projected to grow from $1,557.2 billion in 2023 to $1,638.7 billion in 2024, driven by factors such as population changes and advancements in artificial intelligence [7]. - China's pharmaceutical market is expected to expand from ¥179.77 billion in 2023 to ¥193.12 billion in 2024, with a forecast to exceed ¥2 trillion by 2025 [9]. Chemical Raw Material Market - The global raw material pharmaceutical market is anticipated to reach $226.1 billion by 2024, with a compound annual growth rate (CAGR) of 6% from 2023 to 2032 [10]. - China has become the world's largest producer and exporter of raw materials, with its production capacity increasing from approximately 9.3% in 2008 to about 30% in 2022 [11]. Company Financial Performance - For the reporting period, the company achieved revenue of ¥1,198.24 million, a decrease of 11.66% year-on-year, and a net profit attributable to shareholders of -¥100.66 million, down 183.02% year-on-year [27]. Product Positioning - The company has established a competitive advantage in the production of β-lactam antibiotics and quinolone antibiotics, with significant market presence in the production of key intermediates [17][19]. - The company is actively expanding its product offerings into the fields of cephalosporin antibiotics and is enhancing its production capabilities to meet downstream demand [18]. Business Strategy - The company is pursuing a strategy of integrating raw material and formulation production to enhance market opportunities and improve cost efficiency [12][19]. - The company has established a comprehensive supply chain management system to ensure stable supply and quality of raw materials [20]. Regulatory Environment - The Chinese government has implemented policies to support the development of innovative drugs and improve the overall quality of pharmaceuticals, which is expected to benefit leading companies in the raw material sector [11][14].

4月29日晚间，东亚药业（605177）(605177.SH)同步披露2024年年报及2025年一季报。在资产减值、产 能建设、研发强化等多因素影响下，报告期内公司业绩数据表现不佳。2024年度公司归母净利润亏损约 1.01亿元，营业总收入11.98亿元，同比小幅下滑；2025年一季度业绩仍亏损。 资产端，因存货跌价损失及合同履约成本减值损失导致的资产减值准备，是报告期内公司亏损的主要原 因。2024年度公司出于谨慎性原则，一次性计提1.45亿元资产减值，虽短期内导致了业绩的亏损，但相 关经营风险由此出清后，仍有利于企业可持续发展。 财务表现不佳，但业务经营仍有可圈可点之处。2024年以来，公司加快可转债募投项目建设，制剂工厂 及江西的中间体及原料药工厂建设稳步推进，同时，配合产品品类扩充预期，公司以"以原料药为中 心，往前伸，向后延"为战略导向，持续加大研发投入，虽短期内影响了利润表现，但随着自主创新能 力提升，核心竞争力将得到持续强化。 核心产品维持增速，海外收入提升11.55% 以原料药为中心，2024年，公司几款核心产品销售量仍维持高速增长。以公司拳头产品头孢克洛为例， 2024年头孢克洛原料药及中间 ...