KELUN PHARMA(002422)2024-10-30 08:35Group 1: Financial Performance and Market Outlook - The company expects to achieve its annual budget targets for 2024 and 2025, focusing on closed-system products to support infusion revenue [1] - The infusion market is projected to remain stable, with a gradual increase in market concentration among leading companies, despite ongoing competition [1] - By the end of 2024, it is anticipated that half of the provinces will complete the price collection and linkage work for basic infusion products [1] Group 2: Cost Management and Production Efficiency - The company plans to reduce sales expenses in the hospital sector to maintain stable gross profit margins for high-margin products [3] - The introduction of high-speed production lines is expected to reduce production costs by 10-20%, with two lines starting production in Q4 2024 [3] - The company aims to optimize its product structure by replacing traditional plastic bottles with closed-system bags [3] Group 3: Product Development and Market Strategy - The sales proportion of closed-system infusion products has increased by 3% in the first half of the year, with a goal to lead the market in three-chamber bags [3] - The company is actively pursuing market opportunities in response to the exit of competitors from the Chinese market [3] - Future growth in generic drugs is anticipated, particularly if the results of the tenth batch of centralized procurement meet expectations [4] Group 4: Research and Development Focus - The company is focusing on areas with competitive advantages in drug development, including perioperative care, respiratory, anesthesia, and complex formulations [4] - The R&D expenditure for generic drugs is expected to stabilize in 2024, with a focus on optimizing project management and enhancing output ratios [4] - The company is exploring diverse development directions for ADCs (Antibody-Drug Conjugates), aiming to replace traditional chemotherapy with more targeted therapies [5]