PHARMARON(300759)2025-03-27 11:00Group 1: Financial Performance - The company achieved a revenue of 12.276 billion yuan in 2024, representing a year-on-year growth of 6.4% [2] - In the second half of 2024, the company recorded a revenue of 6.671 billion yuan, with a year-on-year increase of 13.1% [2] - The net profit attributable to shareholders for 2024 was 1.793 billion yuan, reflecting a year-on-year growth of 12% [2] - Adjusted net profit for the same period was 1.607 billion yuan, showing a decline of 15.6% [2] Group 2: Customer and Market Dynamics - The company added over 900 new clients in 2024, increasing the total active clients to over 3,000, indicating strong customer retention and service platform effectiveness [3] - The company served the largest 20 pharmaceutical enterprises globally during the reporting period [3] - New order amounts from overseas clients grew by over 20% year-on-year [2] Group 3: Operational Highlights - The company operates 21 research and development centers and production bases across multiple countries, including the UK and the USA [3] - The workforce includes 21,370 employees globally, with over 1,700 based overseas, and approximately 90% engaged in R&D, production, and clinical services [3] - The company participated in 781 global new drug discovery projects, an increase from 2023 [3] Group 4: Business Segment Performance - Laboratory services generated revenue of 7.047 billion yuan, up 5.8% year-on-year, with a gross margin of 44.4% [5] - CMC (small molecule CDMO) services achieved revenue of 2.989 billion yuan, reflecting a growth of 10.2%, but with a slight decrease in gross margin to 33.1% [5] - Clinical research services reported revenue of 1.826 billion yuan, a 5.1% increase [5] - Revenue from large molecule and cell & gene therapy services was 408 million yuan, down 4.1% year-on-year [5] Group 5: Future Outlook and Investments - The company plans a capital expenditure (CAPEX) of approximately 2 billion yuan in 2025, primarily for expanding laboratory services and small molecule CDMO capabilities [7] - The second phase of capacity construction in Shaoxing will feature larger reaction vessels and is expected to be partially operational by the end of the year [6]