NHWA(SZ:002262)2022-12-03 09:50Group 1: Company Strategy and Competitive Advantage - The company will focus on increasing R&D investment and attracting high-level talent to address competition in the CNS field [2] - The strategic focus remains on the CNS area, with an emphasis on product innovation and marketing model innovation [2] - The company plans to gradually enter the biopharmaceutical field starting with genetic testing due to challenges in the mental and neurological areas [2] Group 2: Product Development and Pipeline - There are approximately 10 products with over 100 million in revenue, with 3-4 expected to exceed 500 million [3] - Short-term products will focus on completing consistency evaluations, while mid-term products include several under development [3] - Long-term innovation products include various formulations and derivatives, with rapid progress in consistency evaluations for several key products [3] Group 3: Mergers and Acquisitions - The company is considering potential acquisition targets that align with its strategic goals and product synergies [4] - Acquisitions will focus on products that complement existing offerings rather than simply increasing profits [4] Group 4: Sales and Marketing Strategy - The sales team currently consists of around 1,300 members, expected to grow to 1,500 [6] - The company has implemented a sales line reform to enhance efficiency and motivation among sales personnel [5] - Strategies to address competition include focusing on product specialization and attracting high-end R&D and sales talent [6] Group 5: Financial Performance and Projections - The company anticipates a compound annual growth rate (CAGR) of over 20.5% in the next three years, potentially reaching 27-28% without equity incentive costs [7] - The company aims to strengthen its core competencies before pursuing larger-scale growth [7] Group 6: Non-operating Income and Incentives - Non-operating income primarily stems from government compensation related to relocation, with future amounts not exceeding 4 million annually [5] - The equity incentive program focuses on R&D and marketing personnel, with clear assessment criteria established [6]