九洲药业(603456) - 浙江九洲药业股份有限公司投资者关系活动记录表20241025

Financial Performance - In the first three quarters of 2024, the company achieved revenue of 3.965 billion CNY, a year-on-year decrease of 13.36% [3] - The net profit attributable to the parent company was 631 million CNY, down 34.74% year-on-year [3] - The company experienced a narrowing decline in quarterly revenue, with stable performance from major clients and significant growth in the formulation business [3] Business Development - The company is enhancing its R&D platform and expanding its global business by establishing wholly-owned subsidiaries in Japan and Germany [2][3] - New project numbers increased by 15% year-on-year, with over half of new projects coming from overseas, particularly in the European market [3][4] - The CDMO business showed steady growth in Q3, with expectations for continued improvement in Q4, maintaining an annual gross margin around 40% [4] Capacity and Production - The new base in Taizhou is progressing with the construction of four workshops, with a current capacity utilization rate of 30-40% [4] - The overall capacity utilization rate is below 60%, primarily affected by the specialty raw materials business [6] - The company plans to establish six peptide GMP production lines within five years, aiming for an annual production capacity of 2-3 tons of peptide products [5] Market Challenges and Strategies - The specialty raw materials segment faced significant revenue and gross margin declines due to market competition and price fluctuations [6] - The company is implementing strategic product adjustments and increasing R&D investment to enhance cost competitiveness [6] - The company is actively expanding its overseas business development team and establishing R&D platforms in the US, Japan, and Germany to drive new client acquisition [5][7] Future Outlook - The company is pursuing overseas capacity acquisitions, focusing on Europe and North America, with an expected acquisition amount not exceeding 100 million USD [7] - The formulation business is expected to maintain high growth throughout the year, supported by recent acquisitions and the establishment of a complete industry chain [7]