Group 1: Product Pricing and Market Strategy - The price of the company's Huai Mi series products decreased by over 15% year-on-year, while the price of the Zhi Shi series products increased by over 35% year-on-year [4] - Future price trends will depend on raw material harvests and market competition; prices will decrease with abundant raw materials and increase with shortages [4] - The company aims to optimize product structure and reduce costs through new projects to mitigate price volatility risks [4] Group 2: Competitive Landscape - The plant extraction industry is highly segmented, with core products including natural pigments, plant essential oils, and active pharmaceutical ingredients [5] - Barriers to entry for competitors include overcoming technical extraction challenges and obtaining market access certifications [5] Group 3: Market Demand and Growth Potential - The global antioxidant market is projected to grow at a CAGR of 7.2% from 2023 to 2030, with plant extracts accounting for over 40% of the market [6] - The functional food market in China is expected to exceed 1.5 trillion yuan by 2025, driven by rising health demands and consumer spending [7] - The company's vitamin P products are anticipated to see sustained demand growth due to these market trends [7] Group 4: Core Technology and Production Capabilities - Key technological barriers in production include efficient extraction processes, stable large-scale production, and in-depth R&D capabilities [8] - The company has over ten years of experience in high-purity extraction, achieving over 99.5% purity for its quercetin products [8] - Continuous production techniques have improved extraction efficiency by over three times compared to traditional methods [8] Group 5: Strategic Development Plans - The company's development strategy involves three steps: deep processing of vitamin P raw materials, R&D of consumer-end products, and establishing a technical application center [9][11] - The strategy also includes dual market expansion in domestic and international markets, focusing on both pharmaceutical and food sectors [9][11] - The company plans to maintain growth by leveraging technological innovation and expanding into emerging markets like Southeast Asia [12]
欧康医药(833230) - 投资者关系活动记录表