Shanghai RAAS(SZ:002252)2023-12-22 12:24Group 1: Company Overview - Shanghai Laishi Blood Products Co., Ltd. primarily produces human serum albumin and intravenous immunoglobulin, with stable growth in supply and demand due to healthcare reforms and rising disposable income in China [1] - The company is actively expanding its sales of various blood products, including coagulation factor products, which also show growth potential [1] Group 2: Financial Performance - For the period from January to September 2023, the company achieved a revenue of CNY 5.935 billion, representing a year-on-year growth of 19.87% [2] - The net profit attributable to shareholders was CNY 1.788 billion, an increase of 11.46% compared to the same period last year [2] Group 3: Market Dynamics - The market for imported human serum albumin products is growing, with a significant share compared to domestic products [2] - The impact of centralized procurement on the blood products industry is currently minimal, and the company's overall operations remain strong [2] Group 4: Strategic Initiatives - The company is focusing on both existing and new plasma sources, enhancing management and promoting internal growth while also pursuing acquisitions and establishing new plasma collection stations [3] - The company plans to obtain a single plasma collection license for its recently acquired Guangxi Guan Feng within 1-2 years, aiming to resume production [3] Group 5: Currency and Risk Management - The sales of imported human serum albumin are primarily settled in USD, which has led to a decrease in gross margins due to exchange rate fluctuations [2] - The company is implementing measures to monitor foreign currency transactions and assets to mitigate exchange rate risks [2]