Porton(SZ:300363)2022-12-04 08:44Group 1: Revenue and Client Concentration - In 2016, the revenue from the top two clients, including Johnson & Johnson, accounted for approximately 70% of total revenue. It is expected to decrease to around 50% in 2017, with a goal to limit single client revenue concentration to no more than 25% in the future [1] Group 2: CRO Business Development - The company has a dedicated CRO team, primarily based in the US and Shanghai, with an addition of approximately 100 R&D personnel last year. The company plans to continue expanding its R&D team to enhance CRO capabilities [1] Group 3: Market Expansion and Performance - The company is pursuing an end-to-end model in the pharmaceutical service platform, with significant growth in the domestic market observed in the first two months of the current year, indicating a potential breakthrough year [2] Group 4: Financial Management and Risks - The company is focused on reducing the high pledge ratio of shares held by the three actual controllers, as part of their core work this year, following previous investments funded through share pledges [2] - The majority of the company's settlements are in USD, and there have been exchange losses due to currency fluctuations. The company is researching hedging measures to mitigate exchange rate risks [2] Group 5: Product Pipeline - The company has a pipeline of hundreds of projects, including commercialized products and those in clinical stages, with a focus on diabetes combined with heart failure drugs, anti-tumor drugs, and BTK inhibitors [3]