近期亨迪药业（301211）发布2025年中报，证券之星财报模型分析如下： 经营业绩概览 从主营业务构成来看，非甾体抗炎类产品收入为1.6亿元，占总收入的68.06%，毛利率为15.27%；心血 管类产品收入为3776.06万元，占总收入的16.08%，毛利率高达71.83%；其他类产品收入为2080.97万 元，占总收入的8.86%，毛利率为8.44%；抗肿瘤类产品收入为1641.92万元，占总收入的6.99%，毛利率 为-11.32%。 发展回顾与展望 报告期内，公司研发投入为15,876,209.56元，较上年同期下降17.72%。公司取得了布洛芬缓释胶囊、托 拉塞米注射液和布洛芬混悬液的《药品注册证书》，并在多个项目上取得进展。此外，公司全资子公司 武汉百科药物通过了FDA cGMP现场检查，公司再次获得高新技术企业认定。 总体来看，亨迪药业在2025年上半年面临较大的经营压力，业绩下滑显著，费用激增拖累了盈利能力。 未来，公司需要进一步优化成本结构，提升产品毛利率，以恢复盈利水平。 公司的毛利率为21.9%，同比减少了39.16%；净利率为7.9%，同比减少了72.1%。每股收益为0.06元， 同比 ...

Group 1: Financial Performance - In 2024, the company's revenue was CNY 445,864,331.31, a decrease of 32.75% compared to the previous year [2][3] - The net profit attributable to shareholders was CNY 91,547,379.78, down 48.02% year-on-year [2][3] Group 2: Research and Development - In 2024, the company invested CNY 32,937,088.26 in R&D and reported one Chinese invention patent [2] - The company has obtained several drug registration certificates, including for ibuprofen sustained-release capsules and tolvaptan injection [3] Group 3: Future Plans - The company aims to reduce production costs and enhance market competitiveness through technological upgrades [3] - A new R&D center in Wuhan has been established to accelerate the development of a CDMO one-stop service platform [3] Group 4: Shareholder Engagement - The company currently has no plans for share buybacks but will disclose any future plans in accordance with regulations [2] - The company actively engages with investors through online platforms for Q&A sessions [2]

Core Insights - The company conducted a video live-streaming event to interact with investors, presenting a comprehensive overview of its business performance and strategic planning, enhancing investors' understanding of the annual report's key content [2] Financial Performance - In 2024, the company achieved an operating income of 415.67 million yuan and a net profit of 85.64 million yuan, with a basic earnings per share of 0.59 yuan [4] Product Development - The company currently has an influenza treatment drug, Oseltamivir Phosphate Capsules, and cold medications including Amantadine Hydrochloride Capsules and Paracetamol Tablets [4] - The company is advancing its research pipeline with a new drug, Maja Zhi Capsules, targeting gastrointestinal tumors, which has entered Phase Ia clinical trials [4] - A generic drug, Fumarate Vornorate Tablets, has been submitted for drug registration approval [4] - New projects initiated in 2024 include Tartrate Sinibiri Tablets, Ibuprofen Sustained-Release Capsules, Dydrogesterone Tablets, and Lidocaine Hydrochloride Sterile Gel [4] Strategic Focus - The company emphasizes "innovation-driven" development, aiming to accelerate research and development, marketing, and management innovations to lay a solid foundation for the successful launch of its 14th Five-Year Plan [4]

Core Viewpoint - Sichuan Zimuongong Pharmaceutical Co., Ltd. is focusing on innovation and market expansion while enhancing production capacity and management efficiency to drive future growth [2][3]. Group 1: Company Overview - Zimuongong has a history of 245 years and specializes in drug research, production, and marketing, holding 26 invention patents and 99 drug production approvals across various forms [2]. - The company is primarily focused on the development of drugs for the nervous system and digestive system, with future emphasis on endocrine and analgesic drugs [2]. Group 2: Financial Performance - In 2024, Zimuongong achieved a revenue of 416 million yuan, a year-on-year increase of 1.87%, and a net profit attributable to shareholders of 85.64 million yuan [3]. - The company plans to distribute a cash dividend of 2 yuan per 10 shares, totaling approximately 29.31 million yuan, with the total cash dividends over the last three years amounting to about 144 million yuan, representing 149.21% of the average annual net profit [4]. Group 3: Research and Development - Zimuongong increased its R&D investment by 81.18% compared to the same period in 2023, focusing on both innovative and generic drugs [3]. - The company is advancing its innovative drug pipeline, including the initiation of clinical trials for the Ma Jia Zi capsule and the successful launch of the Phosphate Oseltamivir capsule [3]. Group 4: Future Strategy - The company aims to adhere to its core business in pharmaceutical manufacturing while driving growth through innovation and marketing, focusing on both internal growth and external expansion [4].