Core Viewpoint - The company, Pro Pharmaceutical (000739), is actively engaging in share repurchase and has established a strong presence in the pet medication market, with ongoing projects and a focus on enhancing shareholder returns. Group 1: Share Repurchase and Financial Performance - As of August 15, 2025, Pro Pharmaceutical's stock closed at 16.35 yuan, with a slight increase of 0.68% and a trading volume of 109,600 shares, amounting to a total transaction value of 179 million yuan [1] - The company has repurchased 10.03 million shares, totaling 143 million yuan, and plans to continue the repurchase based on market conditions and funding arrangements [2][3] Group 2: Pet Medication Projects - Pro Pharmaceutical has established long-term partnerships with several leading global pet medication companies, currently managing 49 pet medication projects, with both project numbers and sales revenue showing continuous growth [2] Group 3: Future Projects and Investor Relations - The company is in the design phase for a peptide workshop project with an investment of 300 million yuan, and specific investment strategies will be considered based on market and technological advancements [2] - The company is expected to disclose the progress of ongoing projects in the upcoming 2025 semi-annual report [2] - The company is open to suggestions regarding increasing dividend payouts and share buybacks to enhance investor confidence and returns [2][3]

Financial Performance - In 2024, the company achieved a revenue of CNY 2.371 billion, a year-on-year increase of 9.04%, and a net profit of CNY 100 million, up 15.9% [1] - In Q1 2025, revenue reached CNY 625 million, a growth of 20.35%, with a net profit of CNY 51.12 million, increasing by 13.23% [2] - The net cash flow from operating activities for 2024 was CNY 498 million, a significant increase of 150.76% [2] Product Performance - The veterinary pharmaceutical segment saw a 21% increase in sales volume and a 21.47% rise in revenue in 2024; Q1 2025 sales volume surged by 55.55% [2] - The expected annual sales volume for 2025 is approximately 100,000 tons of gold mildew powder, reflecting a growth of around 65% [2] - The gross margin for gold mildew premix in 2024 improved by about 10 percentage points due to a 16.31% decrease in corn prices [2] Market Expansion - The U.S. market is the largest overseas market, accounting for about two-thirds of exports; the company plans to raise prices in the U.S. market starting May 1, 2025, to cover increased tariffs [3] - The company is expanding its product applications, with new approvals for gold mildew premix for sheep and ongoing applications for cattle and rabbit [2] Strategic Developments - A strategic cooperation agreement was signed with Shanghai Jiao Tong University for synthetic biology applications, aiming to develop new products and improve existing processes [2] - The company has established a pet division in Shanghai, with 8 health products and 1 rabies vaccine currently available, and 11 products under application [3][5] Investor Engagement - The company engaged with various investors and analysts during an online conference, discussing financial performance, market strategies, and product developments [1] - Key questions from investors included the pricing strategy for gold mildew products and the company's market share in the U.S. [3][4]