药石科技(300725) - 300725药石科技投资者关系管理信息20250428(1)

Group 1: Company Performance and Growth - In 2024, the company experienced a 30% year-on-year growth in API and GMP intermediate projects at Zhejiang Huishi, with 4 new NDA projects added [3] - The CDMO new signed order amount in 2024 increased by 12.43%, with order quantity rising by 31.12% [9] - The company’s revenue from multinational pharmaceutical companies grew by 16.37%, contributing 27.50% to total revenue [9] Group 2: Market Expansion and Client Acquisition - The company has established a 5-person BD team in Europe and appointed a BD head for Japan and South Korea to enhance market share [2] - By the end of 2024, the company entered multiple top 10 multinational pharmaceutical companies' direct procurement platforms, significantly boosting sales [8] - The company aims to increase the application of new technologies in production from 20% in 2024 to 30% or higher [4] Group 3: Financial Metrics and Cost Management - The gross margin for the CDMO business in 2024 was 31.57%, expected to remain stable in Q1 2025 [10] - The company plans to maintain stable absolute amounts for expenses in 2025 while reducing expense ratios alongside revenue growth [14] - The human resource cost accounted for 35.30% of revenue, with a 14.69% increase in fixed asset depreciation impacting overall costs [17] Group 4: Product Development and Innovation - The company is focusing on developing new molecular building blocks for small molecule GLP-1 projects, leveraging early market positioning [15] - The R&D team is enhancing efficiency by utilizing AI technology for new product design starting in 2024 [8] - The company plans to expand its R&D capabilities at the Nanjing center to support future business growth [12] Group 5: Response to Market Conditions - The company is closely monitoring changes in U.S. tariff policies, with 70% of revenue from U.S. and European clients, and 20% directly from the U.S. market [6][7] - The company is implementing strategies to mitigate the impact of tariff fluctuations, including enhancing European market presence and optimizing contract terms [7] - The company anticipates structural pressures on demand from small biotech companies due to global investment cycles [9]