Pharscin Pharma(SZ:002907)2025-11-06 08:24Financial Performance - In Q3 2025, the company achieved revenue of 184 million, a decrease of 6.30% year-on-year; total revenue from the beginning of 2025 to the report date was 626 million, an increase of 1.90% year-on-year [2][3] - Net profit attributable to shareholders decreased by 32.37%, while net profit excluding non-recurring gains and losses dropped by 70.50% due to increased R&D expenses and tax payments [3] - After excluding tax impacts, net profit increased by 4.25%, while net profit excluding non-recurring gains and losses decreased by 29.35% [3] Strategic Response - The company has developed a clear strategy focusing on revenue enhancement, cost optimization, and expense control to stabilize and improve performance [3] - Plans to strengthen R&D investment and innovate product structures, with new products expected to contribute to future revenue growth [3] Product Development - The company has four self-developed special medical food projects, with the TY005 project receiving regulatory approval, marking a significant milestone in the special medical food sector [4] - The company has integrated its R&D capabilities through the acquisition of Chengdu Aorui Pharmaceutical, now managing seven innovative drug projects targeting various diseases [6][7] Sales Strategy - The sales strategy remains stable, focusing on rapid market entry for chemical generics and academic promotion for traditional Chinese medicine [8][9] - The company aims to expand its market share in public hospitals, which currently account for about 70% of sales, while also developing retail and e-commerce channels [9] Governance and Investor Relations - The company adheres to governance standards, ensuring independent board operations and protecting minority shareholders' interests through various measures [10] - The board has held five meetings in 2025, with full attendance by independent directors to ensure proper oversight [10] R&D Investment - R&D expenses have significantly increased, with plans for continued investment aligned with project needs and overall business conditions [10] - The company is focused on building a robust R&D team and collaborating with advanced technology teams to mitigate risks associated with innovative drug development [13] Market Challenges - The company faces significant impacts from centralized procurement, particularly on existing products, but aims to explore diversified development in advantageous areas [12] - Strategies include expanding product lines and market channels to counteract price reductions from centralized procurement [12]