Financial Performance - SQM's Last Twelve Months (LTM) revenues reached US$4.5 billion[6] - The company's LTM Adjusted EBITDA stood at US$1.4 billion[6] - SQM's LTM Adjusted EBITDA Margin was 32%[6] - The Net Financial Debt (NFD) to Adjusted EBITDA ratio was 1.6x as of March 31, 2025[6,8] - First Quarter 2025 revenues were US$1,037 million, a decrease of 4% year-on-year[17] Business Segments - Lithium and derivatives LTM revenue was $2,197 million and gross profit was $517 million[23] - Iodine and derivatives LTM revenue was US$983 million and gross profit was US$525 million[29] - Specialty Plant Nutrition LTM revenue was US$946 million and gross profit was US$161 million[39] - Potassium LTM revenue was US$250 million and gross profit was US$33 million[46] - Industrial Chemicals LTM revenue was US$75 million and gross profit was US$30 million[53] Market Position and Outlook - SQM holds approximately 17% of the global lithium chemical market share[23,24] - The company anticipates the global lithium market to grow by approximately 17% in 2025[23] - SQM has approximately 37% of global Iodine market share[34] - SQM has approximately 41% of global KNO3 market share[44] - SQM has approximately 32% of global Industrial Chemicals market share[56]

据中国贸易救济信息网，6月24日，印度财政部税收局发布第20/2025-Customs(ADD)号通报称，接受印 度商工部于2025年3月25日对原产于或进口自中国的叔丁醇钾[Potassium Tertiary Butoxide (KTB)]和叔丁 醇钠[Sodium Tertiary Butoxide (STB)]、对原产于或进口自美国的叔丁醇钾[Potassium Tertiary Butoxide (KTB)]作出的反倾销肯定性终裁建议，决定对国家的涉案产品征收为期5年的反倾销税，分别如下：涉 案企业中国生产商常州吉恩药业有限公司（GenChem & GenPharm (Changzhou) Co., Ltd.）的叔丁醇钾为 929美元/吨、中国其他生产商为1710美元/吨的反倾销税，中国生产商常州吉恩药业有限公司 2024年3月28日，印度商工部发布公告称，应印度国内企业Suparna Chemicals Limited提交的申请，对原 产于或进口自中国的叔丁醇钾和叔丁醇钠启动反倾销调查、对原产于或进口自美国的叔丁醇钾发起反倾 销调查。2025年3月25日，印度商工部发布公告，对原产于或进口自中国的 ...

Core Viewpoint - TRUNNANO has launched a high-performance potassium silicate powder aimed at addressing the needs of the chemical industry, emphasizing stability, versatility, and cost-effectiveness [1][8]. Product Features - The potassium silicate powder offers exceptional thermal stability, superior solubility, and consistent particle size distribution, making it suitable for various applications including adhesives, coatings, ceramics, and agriculture [2][4]. - The product is characterized by high purity (≥99%) and low impurity content, enhancing its high temperature resistance, corrosion resistance, and bonding performance [5]. Technical Specifications - The potassium silicate powder has specific technical parameters, including: - SiO2 content ranging from 27.0% to 63.0% [6] - K2O content between 26.0% and 35.0% [6] - Modulus (M) values from 2.3 to 3.4 [6] - Bulk density of 0.5-0.8 g/ml [6] - Dissolution rate of ≤100 seconds [6] - Whiteness of ≥85 [6]. Market Position and Commitment - With this launch, TRUNNANO reinforces its position as a leader in advanced material solutions, focusing on innovation and value delivery to partners in the chemical industry [8][9]. - The company aims to help customers reduce production costs and risks while improving operational efficiency through its high-quality products [4][8].

Financial Data and Key Metrics Changes - In Q1 2025, the company achieved the highest first quarter lithium sales volumes in its history, with a 20% year-on-year increase, driven by strong demand from the electric vehicle market in China and Europe [6][8] - Average realized prices for lithium in Q2 2025 are expected to be lower than in Q1 due to recent price declines [7][59] Business Line Data and Key Metrics Changes - Lithium sales volumes increased significantly, while iodine prices reached record averages amid tight supply and steady demand, particularly for X-ray contrast media applications [6][8] - Specialty Plant Nutrition (SPN) sales volumes grew healthily, with an upward trend in prices due to strong demand for potassium chloride and supply disruptions [9] - Potassium business volumes were significantly lower compared to the same period last year as part of a strategy to prioritize high lithium content brines [10] Market Data and Key Metrics Changes - The company maintains a view that global lithium demand will grow by 17% in 2025, with SQM's sales expected to grow by 15% year-on-year, although this forecast remains unchanged amid current market conditions [29][64] - The lithium market is currently oversupplied, with prices under pressure, particularly in China [71][90] Company Strategy and Development Direction - The company is focused on expanding lithium production capacity to 240,000 metric tons of lithium carbonate and 100,000 metric tons of lithium hydroxide [8] - Investment in operational efficiencies and capacity expansions is ongoing, with a commitment to sustainable high-quality growth [11] - The company is confident in its strategy and ability to generate cash flow despite current pricing pressures [17][88] Management's Comments on Operating Environment and Future Outlook - Management believes the current low price environment is unsustainable and expects prices to improve in the future [88][90] - The company is well-prepared to take advantage of market recovery due to its strong position as a low-cost producer [88][90] - There is optimism regarding long-term demand growth, particularly in the electric vehicle sector [64][90] Other Important Information - The company is advancing its seawater pipeline construction to expand iodine production capacity [8] - The dividend policy established a distribution of 30% of net income for 2025, with no interim dividends planned for the first quarter [48] Q&A Session Summary Question: Will operating cash flow be breakeven or positive per metric ton in lithium in Q2? - Management indicated they are far from breakeven costs and expect to be significantly above that in Q2 [14][15] Question: How will lower lithium prices affect capital structure and funding for future projects? - Management stated that the company has a strong balance sheet and cash generation capacity from other business lines, which will not constrain future projects [16][18] Question: What is the status of the Codelco joint venture in Chile? - Management described the situation as "noise" due to election year discussions but confirmed that the transaction is progressing as planned [20][26] Question: Will SQM's lithium sales grow by 15% this year? - Management has not updated the annual volume forecast but expects similar or slightly lower volumes in Q2 compared to Q1 [29] Question: How is SQM handling pricing dynamics in China? - Management noted that pricing mechanisms with customers are confidential and cannot provide specifics [36] Question: What is the outlook for Mt. Holland production? - Management confirmed that Mt. Holland is cash positive and ramping up as planned, despite facing higher costs during the ramp-up phase [84][97] Question: What is the company's dividend policy? - The company will distribute 30% of its net income for 2025, with no interim dividends planned for the first quarter [48]

Core Viewpoint - Scienture Holdings, Inc. has announced the FDA listing of two patents for its product Arbli, a novel oral liquid formulation of losartan, which is expected to enhance its market position and provide statutory exclusivity under the Hatch-Waxman Act [1][2][6]. Company Overview - Scienture Holdings, Inc. is a holding company focused on developing and distributing specialty pharmaceutical products that address unmet market needs [1][13]. - The company operates through its subsidiary, Scienture, LLC, which is dedicated to bringing unique specialty products to market [13]. Product Details - Arbli is the first FDA-approved ready-to-use oral liquid formulation of losartan, designed for patients over 6 years old, and is indicated for the treatment of hypertension and related conditions [3][4][8]. - The product is available in a 165 mL bottle with a peppermint flavor, has a shelf life of 18 months at room temperature, and does not require refrigeration [7]. Market Position - The patents for Arbli cover stable liquid formulations of losartan and methods of use, reinforcing Scienture's intellectual property position [2]. - Losartan is classified as an angiotensin receptor blocker (ARB) and is one of the most prescribed medications for hypertension, with annual sales of approximately $276 million and a prescription volume of 69 million in the U.S. market as of March 2025 [5]. Regulatory Milestone - The listing of Arbli in the FDA's Orange Book is considered a significant regulatory achievement for Scienture, validating its development efforts and enhancing its commercial pathway in the U.S. market [6][2].

Core Viewpoint - Scienture Holdings, Inc. is preparing for the commercial launch of Arbli, a novel oral liquid formulation of losartan, aimed at addressing unmet needs in the hypertension treatment market, with a targeted launch date in July 2025 [1][5]. Company Overview - Scienture Holdings, Inc. operates as a holding company for pharmaceutical companies focused on developing and distributing specialty products that enhance value for patients and healthcare providers [1][12]. - Scienture, LLC, a wholly owned subsidiary, is responsible for the manufacturing and distribution of Arbli [1][12]. Product Details - Arbli is the first FDA-approved ready-to-use oral liquid formulation of losartan in the U.S., designed for patients over 6 years old, particularly for hypertension and related conditions [2][4]. - The product is available in a 165 mL bottle with a peppermint flavor, has a shelf life of 18 months at room temperature, and does not require refrigeration [6]. Market Context - Losartan, classified as an angiotensin receptor blocker (ARB), is one of the most prescribed medications for hypertension, with annual sales of approximately $292 million and a prescription volume of 68 million in the U.S. market as of December 2024 [4]. - Arbli addresses the limitations of existing losartan products, which are only available in solid forms that require compounding for liquid formulations, thus providing a safer and more convenient option for patients [3][4]. Manufacturing and Distribution - Scienture, LLC has initiated supply chain activities and partnered with Saptalis Pharmaceuticals for the manufacturing of Arbli, ensuring readiness for the planned launch [1][5]. - The company has also established agreements with strategic partners for warehousing and distribution to various wholesalers [1].

Core Insights - Scienture Holdings, Inc. has appointed Michele Rath as Senior Vice President and Chief Commercial Officer of its subsidiary, Scienture, LLC, to enhance its commercial operations and market reach [1][2] - The company has established a strategic partnership with Syneos Health, which will act as its Contract Sales Organization, aiming to leverage Syneos Health's expertise in outsourced sales solutions [1][3] Company Overview - Scienture Holdings, Inc. operates through its subsidiaries, focusing on providing novel specialty pharmaceutical products to meet unmet market needs [5] - Scienture, LLC is dedicated to developing and marketing unique specialty products, with a team experienced in the pharmaceutical industry [5] Leadership and Strategy - Michele Rath brings over 20 years of experience from leading roles at Pfizer, CVS Caremark, and Aurobindo Pharma, focusing on sales strategy and market access [2] - Under Rath's leadership, Scienture, LLC aims to drive revenue growth, strategic partnerships, and customer engagement [2] Collaboration with Syneos Health - The partnership with Syneos Health will enhance Scienture, LLC's commercial capabilities through a comprehensive suite of services, including field sales and tech-enabled engagement strategies [3] - Syneos Health's Kinetic platform will provide predictive and adaptive analytics to streamline commercial solutions for Scienture, LLC [3] Product Launches - Scienture, LLC is preparing to launch two FDA-approved products: Arbli (losartan potassium) oral suspension and Rezenopy (naloxone HCl) nasal spray, with expectations of accelerated growth through the new commercial strategies [4]

Core Viewpoint - Scienture Holdings, Inc. has successfully completed a draw on its Equity Line of Credit (ELOC) to support the commercial launch of its FDA-approved product, Arbli, while temporarily suspending further draws until certain conditions are met [1][2][3]. Financial Strategy - The draw on the ELOC is aimed at providing immediate capital for pre-launch activities of Arbli, the first FDA-approved ready-to-use oral liquid losartan in the U.S. market [2]. - The company has decided to pause further ELOC draws for 30 trading days or until its stock price reaches $10 per share, indicating confidence in its business prospects [3]. Product Information - Arbli is a novel antihypertensive medication indicated for treating hypertension in patients over 6 years old, reducing stroke risk in patients with hypertension and left ventricular hypertrophy, and treating diabetic nephropathy in certain type 2 diabetes patients [4]. - The product is available in a 165 mL peppermint-flavored suspension that does not require refrigeration and has an 18-month shelf life when stored at room temperature [5]. Company Overview - Scienture Holdings, Inc. operates through its subsidiaries, focusing on providing enhanced value to patients and healthcare systems by developing and distributing specialty pharmaceutical products [6]. - The company is committed to addressing unmet market needs and has a team of experienced professionals dedicated to bringing unique specialty products to market [6].