金河生物(002688) - 2025年1月16日投资者关系活动记录表

Group 1: Company Overview and Performance - In 2024, the veterinary pharmaceutical segment benefited from improvements in both upstream and downstream operations, as well as expansion into overseas markets, leading to strong sales performance [2][3] - The company's sixth-phase project commenced production in October 2024, primarily for the production of oxytetracycline, with some used as raw material for another product, strong mycin, while the remainder will be sold externally [2] - The approval of the sheep-use premix of chlortetracycline in November 2024 is expected to drive significant domestic demand, with an anticipated increase of over 20,000 tons in future usage [2][3] Group 2: Research and Development Initiatives - A strategic cooperation agreement was signed with Shanghai Jiao Tong University to develop new synthetic biology products and improve existing product processes, with expected results in the coming years [2][3] - The establishment of the Chengdu Agricultural Technology Center and the joint venture with Zhongnong Duchuang aims to address challenges in bio-agriculture and bio-pharmaceuticals, focusing on new technologies and product commercialization [3] - The company is applying for P3 laboratory research qualifications, which is expected to enhance its R&D capabilities and overall competitiveness, with approval anticipated by the end of 2025 [3] Group 3: Product Development and Market Strategy - The pet business segment is being strategically developed, with a new subsidiary established in Shanghai and several products already on the market, including deworming medications and rabies vaccines [3] - The company plans to launch several vaccines in 2025, including those for pseudorabies and bovine nodular dermatitis, as well as a new four-in-one vaccine for cats and dogs [3] Group 4: Market Position and Competitive Advantages - Following policy adjustments in 2020, the usage of chlortetracycline has increased significantly, with application amounts rising from 25-75 PPM to 400-600 PPM, leading to a potential 50%-100% increase in customer usage [4] - The company is the largest global producer of chlortetracycline, with a high market share and strong product quality, which positions it favorably against competitors [4] - Approximately 80% of the company's vaccine clients are from the top 100 industry players, indicating strong market competitiveness and a focus on quality [4]