Pharscin Pharma(002907)2024-11-29 07:39Group 1: Financial Performance - The revenue of the five key traditional Chinese medicine products increased by 24.49% year-on-year in Q3 2024, and by 31.44% from the beginning of the year to the reporting period [2] - The revenue of Ganqi Bingmei Tablets increased by 38.84% during the reporting period, and by 54.36% from the beginning of the year to the reporting period [2] Group 2: Market Strategy - The company is focusing on expanding sales channels in non-grade public hospitals, including grassroots medical institutions, private hospitals, retail chains, and e-commerce platforms [3] - The company aims to explore diversified development strategies in advantageous areas to mitigate the risks associated with price reductions from centralized procurement [3] Group 3: Product Development - The global market size for special medical foods is approximately $3 billion, with China's market size around 7 billion RMB [4] - The company has established the first special medical food production base in the Sichuan-Chongqing region and currently has four self-researched projects in this area [4] - The company expects to obtain its first production license for special medical foods by the end of 2024 or early 2025 [5] Group 4: Sales Channels - Approximately 70% of the company's sales are still concentrated in public hospitals, with ongoing efforts to develop grassroots hospitals, private hospitals, retail pharmacies, and e-commerce platforms [5] - The company is actively expanding its presence in retail pharmacies and online platforms to increase its market share outside of hospitals [5] Group 5: Innovation and R&D - The company has five self-developed innovative drugs in the research phase, targeting various cancers [6] - The company has relocated its wholly-owned subsidiary to Chongqing to better promote the development of its innovative drug segment [6]