Dongcheng Biochem(002675)2025-03-05 09:30Group 1: Financial Performance - The company reported a revenue of 2.868 billion yuan in 2024, a year-on-year decrease of 12.42% due to a significant drop in the sales price of heparin sodium, despite an increase in sales volume [4] - The net profit attributable to the parent company was 180 million yuan in 2024, down 12% year-on-year, impacted by declining raw material prices, increased R&D investment, and rising financial costs [4] Group 2: Product Development and Market Strategy - The company has invested 86.62% of its total R&D expenses in radiopharmaceuticals, with ongoing efforts to expedite the development of in-progress products [3] - The product 18F-APN-1607 is in the process of further impurity studies before its market launch, following successful communication with CDE regarding safety and efficacy [2] - The company is actively pursuing the approval of the sodium fluoride injection for bone scanning and is in various stages of clinical trials for other products [3] Group 3: Market Conditions and Pricing - The pricing of 18F-FDG products is determined through negotiation with hospitals, and there has been no significant price drop due to competition in recent years [2] - The future trend of raw material prices will be dictated by supply and demand dynamics, with the company focusing on expanding its customer base and controlling procurement costs [4] Group 4: Corporate Governance and Shareholder Relations - The company is committed to adhering to the guidelines for market value management to protect shareholder interests [4] - There are ongoing discussions regarding the company's plans for its U.S. listing, with future announcements to be made as developments occur [4]