天宇股份(300702) - 300702天宇股份投资者关系管理信息20250428

Group 1: Financial Performance Overview - In 2024, the company achieved a revenue of 263,081 million yuan, a 4.1% increase from 252,772 million yuan in 2023 [3] - Net profit attributable to shareholders reached 5,594 million yuan, a significant growth of 104.6% compared to the previous year [3] - In Q1 2025, revenue was 75,932 million yuan, up 10% from 68,945 million yuan in Q1 2024, with net profit increasing by 113% to 8,618 million yuan [4][5] Group 2: Business Segment Performance - Non-sartan raw materials and intermediates saw a revenue increase of 57% in Q1 2025, reaching 1.89 billion yuan [5] - The formulation business generated 80.77 million yuan in Q1 2025, a 97% increase year-on-year, driven by product structure changes and effective cost control [5] - CDMO business revenue in 2024 was 36,580 million yuan, a decrease of 9.8% from the previous year, but overall business scale remained stable [3][5] Group 3: Market Position and Strategy - The company has established partnerships with over 14,000 hospitals and 20,000 terminal markets, enhancing its market presence [3] - In 2024, the company received production approvals for 23 formulation specifications, expanding its product pipeline to 63 specifications [6] - The company is focusing on diversifying its product offerings, with a strong emphasis on non-sartan products, which are expected to continue their rapid growth [8] Group 4: Future Outlook and Challenges - The sartan product prices are expected to decline in 2025, impacting revenue despite stable sales volume [7] - The company aims to improve the operational efficiency of its Changyi Tianyu base, which is currently operating at a loss, with plans to narrow losses in 2025 [13] - R&D expenses are projected to remain stable in 2025, with a focus on efficient resource utilization to support long-term product pipeline development [15]