SYNERGY(300636)2025-01-08 08:50Group 1: Sales Performance - Gabapentin sales volume is expected to increase significantly in 2024, but prices are declining [1] - Celecoxib is in a state of supply shortage in 2024, prompting the company to consider expanding production [1] - New products such as Rivaroxaban, Vildagliptin, Febuxostat, and Azilsartan are expected to perform well in the regulated market in 2024 [2] Group 2: CMO/CDMO Business Outlook - CMO/CDMO business revenue is expected to decrease significantly in 2024 due to a major client canceling orders from Q2 onwards [1] - New projects in the CMO/CDMO sector are anticipated to increase revenue above 2024 levels in 2025 [1] Group 3: Production Capacity - The utilization rate of the first phase of the second plant is around 60% in the second half of 2024, with expectations to exceed 60% in 2025 [2] - The second phase of the second plant has completed civil construction for seven workshops, with two starting equipment installation after the Spring Festival, aiming for production capacity by Q4 2025 [2] Group 4: Financial Projections - Depreciation expenses are expected to increase by approximately 12 million in the second half of 2024 due to new fixed assets being put into service [2] - Depreciation in 2025 is not expected to increase significantly beyond this amount [2] Group 5: Future Plans - There are currently no specific plans for a new equity incentive program in 2025 [2] - Sales of new products in Q4 2024 are expected to outperform Q3, with continued growth in 2025, particularly in the high-end market [2]