Financial Performance - The net profit attributable to shareholders for 2024 was a loss of ¥1,368,478,968.49 [3] - In Q1 2025, the net profit attributable to shareholders was ¥16,028,449.64 [3] - The overall revenue for the pharmaceutical manufacturing industry in 2024 was ¥25,298.50 billion, remaining stable compared to 2023, while the total profit decreased by 1.1% [13] Market Strategy - The company aims to maintain a high market share in peritoneal dialysis solutions by actively participating in national and local procurement initiatives [1] - The company plans to enhance customer management and service levels, leveraging the advantages of winning procurement bids to deepen sales channels [2] - The target for the medical device and packaging sector in 2025 is to achieve full coverage of key drug-related medical devices and a self-sufficiency rate of over 90% for packaging [4] Product Development - The company is expanding its health product lines, including beverages, cosmetics, and health drinks, with a focus on brand and channel development [5][6] - Six new raw materials and formulations were approved in 2024, contributing to the expectation of revenue growth [6] - The company has 20 products and 23 specifications that have passed or are deemed to have passed consistency evaluations, enhancing competitiveness in key therapeutic areas [7] Sales Model - In 2024, direct sales accounted for 39.47% and distribution sales accounted for 60.53% of total sales [7] Challenges and Future Outlook - The significant decline in Q1 2025 performance was attributed to the implementation of national drug price governance and participation in procurement, leading to lower sales prices [9][11] - The company is optimistic about future profitability, focusing on core business areas and improving product structure and management efficiency [11] - Despite current challenges, the long-term growth logic of the pharmaceutical industry remains intact, driven by factors such as aging population and increased health awareness [13] Social Responsibility - The company emphasizes environmental protection and sustainable development, having successfully passed re-certification for environmental and occupational health safety management systems in 2024 [8]