Fuan Pharmaceutical(SZ:300194)2025-05-12 00:32Financial Performance - The company's 2024 consolidated revenue was CNY 2.391 billion, with a cost of CNY 1.125 billion [45] - The net profit contribution from Tianheng Pharmaceutical in 2024 was CNY 18.63 million, accounting for 6.7% of the company's net profit [2] - The company reported a significant profit decline, attributing it to centralized procurement, which has impacted profits by nearly half [4] Investment and Asset Management - The company invested USD 73 million in a U.S. project in 2019, equivalent to CNY 5.0297 billion at the time, but reported an impairment of CNY 6.23 billion in 2021 [16][25] - The impairment amount for the company's 51% stake in the U.S. project was CNY 3.18 billion, reflecting a significant difference from the total impairment [16][25] Shareholder Concerns - The company has faced criticism for stagnant dividends, which are determined based on sustainable development and performance [2] - There are ongoing concerns regarding stock price manipulation, with the company asserting that it operates normally and is not involved in any illegal activities [13][14] Strategic Initiatives - The company plans to enhance its market presence by focusing on non-centralized procurement products and optimizing its product structure [4] - Future goals include improving operational stability and governance in response to industry policy changes [33] Regulatory and Legal Issues - The company is currently involved in litigation related to its U.S. investment, with no preliminary judgment yet [40] - The company received administrative measures from the China Securities Regulatory Commission, which are being addressed through legal channels [14][32] Market Position and Future Outlook - The company aims to expand its international market presence while maintaining a primary focus on domestic operations [8] - The company is committed to improving investor relations and enhancing information disclosure to stabilize and boost its market value [15]