GLORIA PHARMA.(SZ:002437)2025-05-15 13:50Group 1: Financial Performance - The company's net profit for 2024 is expected to grow significantly, driven by increased sales of key products, particularly the exclusive traditional Chinese medicine An Nao Wan/Pian, which achieved sales of CNY 182 million, an increase of CNY 81.7 million, representing over 80% year-on-year growth [1] - Sales expenses decreased by 25.82%, management expenses (excluding stock incentive costs) decreased by 18.29%, and financial expenses decreased by 103.41% due to the repayment of all bank loans [2] - The company's operating revenue for 2024 was CNY 2.441 billion, a year-on-year decline of 7.06%, primarily due to the impact of centralized procurement [5] Group 2: Product Growth Expectations - An Nao Wan/Pian is expected to have significant growth potential due to its strong qualifications and untapped market in hospitals, especially tier-three hospitals [3] - The injection of multiple vitamins (12) is anticipated to maintain steady growth, with the company holding over 80% market share [3] - The company expects stable growth for the deer melon peptide injection in 2025 and anticipates significant growth for the new product, Siglitin Metformin Sustained Release Tablets, after its launch in July 2024 [3][4] Group 3: Cost Management and Efficiency - The company aims to continue reducing costs, with sales expenses down 27.63%, financial expenses down 82.43%, and management expenses down 20.97% in Q1 2025 [4] - The company plans to maintain low levels of expenses through improved internal management [4] Group 4: Investment and Shareholder Returns - The company has implemented a share repurchase plan, utilizing approximately CNY 80 million to buy back 32.3 million shares, representing 1.42% of the total share capital prior to the buyback [9] - Future measures to enhance investor returns include focusing on core business, disposing of inefficient assets, and exploring new product opportunities [10] Group 5: Research and Development - The company plans to invest approximately CNY 97 million in R&D for 2024, focusing on generic drugs, with no current investment in innovative drugs [4]