Group 1: Company Strategy and Growth - The company will focus on its core business of blood products, enhancing plasma supply capacity and marketing management, while actively expanding into overseas markets and improving product R&D capabilities [1] - The company aims to increase annual production capacity to over 3,000 tons following the expansion of its subsidiary, with production expected to resume in June 2025 [2][3] - The company plans to achieve a sales expense ratio of under 10% and a management expense ratio of under 7% in 2025 [2] Group 2: Product Development and Market Position - The subsidiary Guangdong Shuanglin Jiuyin is expected to obtain listing approval in 2026, while the fourth-generation intravenous immunoglobulin is anticipated to receive approval in 2027 [2] - The company expects a more than 20% year-on-year increase in plasma output in 2025 due to expanded production capacity [3] - Currently, over 60% of albumin in the market is imported, indicating potential for domestic alternatives in the future [4] Group 3: Shareholder Engagement and Financial Management - The company will implement the 2024 dividend plan promptly after approval at the annual shareholders' meeting [2] - The major shareholder will continue to support the company's development and has initiated a share buyback plan [4] - The company has maintained a high dividend payout ratio for two consecutive years and plans to continue this trend [4]

Group 1 - The blood products sector is experiencing growth, with companies like Shijiazhuang Yiling Pharmaceutical, Palin Bio, Boya Bio, and Tiantan Bio seeing stock price increases [1] - Shanxi Securities reported strong demand for immunoglobulin and albumin, with a projected market share of 6.5% and 2.5% for the company in 2023, respectively [1] - The domestic market for immunoglobulin is expanding, and the company is expected to benefit from the launch of new generation immunoglobulin products [1] Group 2 - Boya Bio aims to achieve a plasma collection of 630.6 tons in 2024, representing a year-on-year growth of 10.4%, with its main facility collecting 522.04 tons, up 11.7% [1][2] - The company is committed to compliance and operational efficiency, expecting double-digit growth in plasma collection by 2025 [1][2] - The blood products industry has not yet been included in national centralized procurement, but local and regional procurement initiatives have begun since January 2022 [2] Group 3 - Boya Bio is focusing on international expansion through product registration and technical cooperation, aiming to increase market share for immunoglobulin and factor VIII products [2] - The company is advancing innovative treatments for rare diseases, including small nucleic acids and gene therapies, to enhance its global presence [2] - The company’s president emphasized a focus on optimizing plasma utilization and enhancing product structure to improve profitability [3]