SHYNDEC(SH:600420)2023-11-22 10:24Group 1: Company Overview - The company achieved a net profit attributable to shareholders of 91.62 billion yuan, representing a year-on-year increase of 5.64% [1] - The company’s operational scale has slightly contracted, with a profit margin of 32.26% [1] - The sales volume of the company’s formulation products is expected to grow [1] Group 2: Product Development and Market Strategy - The company has a comprehensive range of formulation products, with nearly 60% of revenue coming from traditional therapeutic areas such as cardiovascular and anti-infection drugs [1] - Despite pressures from centralized procurement policies, the company’s major products have been covered, showing resilience in operational performance [1] - The company plans to enhance marketing efforts and academic promotion to improve product accessibility [1] Group 3: Research and Development - The company has increased R&D investment, focusing on consistency evaluation and new product development [1] - Various R&D methods are employed, including independent, collaborative, and commissioned research, to improve efficiency [1] Group 4: International Expansion - The company aims to accelerate its internationalization process to increase the market share of its formulation products [2] - The subsidiary, Guoyao Zhijun, has obtained market approval for several cephalosporin products in Germany, Poland, and Malta [1] Group 5: Intermediate and Raw Material Business - The subsidiary Guoyao Weiqida faced operational losses in 2022 due to market competition and rising production costs, but has shown signs of recovery this year [2] - Guoyao Tianwei, focusing on reproductive health raw materials, has maintained steady growth in recent years [2]