阿拉丁(688179) - 阿拉丁接待投资者调研活动记录（2024年4月15日-4月16日）

Group 1: Company Overview and Acquisition - Aladdin Biochemical Technology Co., Ltd. acquired Yuanye Bio to enhance its product line in biochemical reagents, addressing gaps in its offerings and creating synergies with Yuanye's established brand and product range [2] - Yuanye Bio specializes in the R&D, production, and sales of research reagents, with a strong presence in various industrial sectors including pharmaceuticals and food safety [2] Group 2: Financial Performance and Trends - The fourth quarter is traditionally the peak season for revenue, contributing the highest percentage to annual income [2] - The decline in the life sciences segment last year was primarily due to macroeconomic factors and a high sales base from specific products in the previous year [2] - The net profit margin has improved significantly since Q3 of last year due to better expense control, with the growth rate of expenses slowing down [4] - Cash flow has been favorable since Q4 of last year, attributed to the completion of inventory stocking goals and a slowdown in raw material procurement [4] Group 3: Market Demand and Inventory Management - Demand from university clients has rebounded as normal teaching and research activities resume, leading to an increase in their proportion of overall sales [3] - Inventory growth is expected to continue but at a slower rate, as historical data shows a correlation between revenue and inventory changes [4] - Generally, distributors do not hold excessive inventory due to the high storage requirements for research reagents, and low inventory turnover is a common characteristic in the industry [3] Group 4: International Market Focus - The overseas market targets similar types of clients as the domestic market, primarily research institutions and enterprises [5] Group 5: Disclosure Information - The investor meeting did not involve any information that requires mandatory disclosure [5]