Porton(SZ:300363)2025-04-27 13:16Group 1: Financial Performance - In Q1, the small molecule API revenue experienced a high growth of 20%, driven by increased orders from overseas markets signed last year [1] - The gross margin for Q1 was 26.33%, with a year-on-year increase of approximately 10 percentage points [2] - The company aims to maintain a trend of stable or decreasing overall expenses through continuous cost control efforts [2] Group 2: Orders and Market Trends - New orders in Q1 remained at a good level, with backlogged orders still showing growth despite a high base from the previous year [2] - The company observed a slight improvement in overseas customer demand, although the overall improvement remains modest [3] Group 3: Business Strategy and Focus Areas - The company is focusing on high-value markets, clients, and pipelines, particularly in the cardiovascular, renal, and metabolic (CVRM) fields, as well as autoimmune and oncology sectors [4][5] - Capital expenditure plans will primarily revolve around specific technological capabilities and client-triggered investments [5] Group 4: Challenges and Responses - The company is monitoring the impact of changing tariff policies, which currently have limited effect due to the low percentage of direct exports to the U.S. [3] - The gene cell therapy business showed a reduction in losses in Q1, while the small molecule formulation business faced increased losses due to market challenges [2]