GLORIA PHARMA.(SZ:002437)2025-07-09 14:12Group 1: Product Performance and Sales Projections - The main product, Injection Multi-Vitamins (12), is expected to achieve a sales growth of 40% in 2024, with sales revenue exceeding 1.1 billion CNY, and a continued growth trend anticipated for 2025 [2][3] - The sales revenue of An Nao Wan/Pills reached 182 million CNY in 2023, an increase of 81.7 million CNY year-on-year, with a projected growth of over 30% in Q1 2025 [3][4] - The company expects significant growth in Chloride Potassium Sustained-Release Tablets this year [6][8] Group 2: Market Position and Competitive Landscape - Injection Multi-Vitamins (12) maintains over 80% market share due to its competitive landscape and brand advantage [2] - The market for Ginkgo Biloba Injection is favorable, with only three competitors expected to increase sales after the current procurement cycle [3] - The company has a stable partnership with Daiichi Sankyo, contributing approximately 10% of total revenue, around 240 million CNY [4][5] Group 3: Sales and Marketing Strategy - The sales expense ratio decreased from 40.69% in the previous year to 32.48% in 2024, with a further reduction to 28.80% in Q1 2025, indicating improved efficiency [8][9] - The company plans to enhance the competitiveness of An Nao Wan/Pills through improved product qualifications and academic promotion [6][8] - Marketing investments will be adjusted based on product lifecycle and profitability, with increased focus on An Nao Wan/Pills post-medical insurance limit removal [9] Group 4: Future Growth and Development Plans - The company aims to expand its product pipeline through new product approvals and potential acquisitions, focusing on innovative and differentiated products [8][9] - There is an emphasis on maintaining steady growth in existing products while exploring new market opportunities [7][8] - The company is committed to cost reduction and efficiency improvements to sustain profitability [8]