LIVZON GROUP(SZ:000513)2023-05-10 09:14Group 1: Financial Performance and Growth - The company reported a revenue growth slowdown in Q1 2023, but management remains confident about the overall annual performance, expecting recovery as hospital operations normalize [3][4]. - The company’s R&D investment was approximately RMB 1.5 billion in 2021 and is expected to remain stable at around RMB 1.5 billion in 2022, with a focus on innovative drugs and complex formulations [9][10]. - The company plans to repurchase shares with a total amount not less than RMB 400 million and not exceeding RMB 800 million, with a repurchase price capped at RMB 40.00 per share [2]. Group 2: Product Development and Pipeline - The company has several products, including Apalutamide and Trastuzumab, that have received new indications and are expected to contribute positively to sales [4][5]. - The company is advancing multiple projects in its pipeline, including the submission of Triptorelin microspheres to the CDE, with expectations for approval in 2023 [7][8]. - The company is focusing on high-value innovative drugs in core areas such as gastrointestinal, mental health, reproductive assistance, and oncology [2][4]. Group 3: Market Strategy and Challenges - The company is adapting to centralized procurement policies by optimizing production costs and reducing marketing expenses [2][3]. - The management emphasizes the importance of maintaining investor confidence through consistent cash dividends and share buybacks [3][8]. - The company is actively enhancing its market presence through digital marketing and expanding its distribution channels [5][6]. Group 4: Regulatory and Compliance - The company adheres strictly to regulations regarding share repurchases and has no intention of manipulating stock prices [2][9]. - The company is committed to transparency and will disclose any significant developments in its product approvals and market strategies [10].