Porton(SZ:300363)2022-12-04 08:56Group 1: Company Overview - As of Q3 2019, the total number of employees at Boteng Co. reached 1,999, with 364 in R&D, serving over 300 clients [3] - The company operates two main production bases located in Chongqing and Yichun, with a total capacity of approximately 1,191 cubic meters [3] - The Chongqing facility has 10 workshops with a capacity of nearly 700 cubic meters, while the Yichun facility has 6 workshops with a capacity of about 491 cubic meters [3] Group 2: Financial Performance - In the first three quarters of 2019, Boteng Co. achieved a revenue of 1.08 billion yuan, representing a year-on-year growth of approximately 30% [4] - The net profit for the same period was 140 million yuan, with a year-on-year increase of 39% [4] - The gross profit margin improved to 37.5%, an increase of about 3.6 percentage points compared to the previous year [4] Group 3: Business Segments - The CRO business generated revenue of 305 million yuan in the first three quarters, with 138 products contributing to the income [3] - The European market accounted for 39% of sales, while North America represented 26%, marking significant growth in these regions [3] - The product pipeline included 238 products sold, with 108 being new products and 138 being existing products [3] Group 4: R&D and Capacity Expansion - The company plans to increase R&D personnel by 100 each year over the next two years [4] - In 2019, investments in crystallization and enzyme catalysis technologies amounted to approximately 10 million yuan and 20 million yuan, respectively [5] - The company aims to enhance production efficiency, with a 60% increase in production batches per week compared to the previous year [4] Group 5: Strategic Direction - Boteng Co. is focusing on a CDMO model that emphasizes "traffic × conversion × monetization," integrating CRO and CMO services to enhance monetization capabilities [5] - The company recognizes the importance of understanding industry cycles, particularly in oncology and rare diseases, to identify growth opportunities [6] - The acquisition of J-STAR has expanded its team from 40 to 98 members, enhancing its capabilities in the U.S. market [6]