机🚎(ji)构🔞(gou)：天🗜(tian)风⬆(feng)证😔(zheng)券🔂(quan)研🎚(yan)究👂(jiu)员🦈(yuan)：杨🛋(yang)松💤(song)/贺♏(he)晓💧(xiao)晗👉(han)事💱(shi)件🕉(jian)概🤟(gai)要🕔(yao)公🤑(gong)司💈(si)公🥁(gong)布🔶(bu)2023 年🧀(nian)年🗂(nian)度🚏(du)报🏚(bao)告🐒(gao)及🛒(ji)2024 年⬇(nian)一📉(yi)季😈(ji)度😑(du)报❣(bao)告🛐(gao)，2023 年🧢(nian)营🤩(ying)收🥘(shou)2.05 亿⛵(yi)元⛷(yuan)(yoy-29.69%)，归🎍(gui)母🧢(mu)净🏗(jing)利🔟(li)润🧕(run)-1.28 亿👔(yi)元👂(yuan)(yoy-425.90%)，扣👅(kou)非💯(fei)后🕰(hou)归👷(gui)母❌(mu)净😵(jing)利🍭(li)润😧(run)-1.34亿🍎(yi)元😯(yuan)(yoy-476.11%) ； 毛💁(mao)利🦇(li)率👖(lv)-6.55%(yoy-50.96pp) ， 净📉(jing)利🥡(li)率🐘(lv)-62.41%(yoy-75.81pp)
和🏘(he)元🐗(yuan)生🙆(sheng)物📰(wu)业🚠(ye)绩🈸(ji)下🚢(xia)降🛏(jiang)基🖼(ji)于🧥(yu)持🎧(chi)续🦆(xu)受🛀(shou)外🎣(wai)部🎉(bu)环🐧(huan)境🥣(jing)等🥥(deng)因🥂(yin)素📤(su)影➗(ying)响🔮(xiang)，国🏯(guo)内👗(nei)基🚢(ji)因🛅(yin)细🦑(xi)胞🏏(bao)行🥇(xing)业♐(ye)下🤸(xia)游💜(you)客💮(ke)户🌾(hu)融🏿(rong)资🔼(zi)不🐖(bu)畅🐗(chang)，以🛬(yi)及🎠(ji)运🔦(yun)营🐍(ying)成📐(cheng)本🍻(ben)大🍑(da)幅🤽(fu)增🏼(zeng)长🆎(chang)。2024 年📆(nian)Q1 营🎢(ying)收😸(shou)0.60 亿💏(yi)元💧(yuan)(yoy+93.48%)，归👁(gui)母🐯(mu)净✌(jing)利🎪(li)润👅(run)-0.42 亿🕥(yi)元⛴(yuan)(yoy-32.85%)，扣📪(kou)非🧡(fei)后😑(hou)归🎃(gui)母🤡(mu)净🐜(jing)利🎒(li)润🚰(run)-0.47 亿🏛(yi)元👿(yuan)(yoy-42.12%)；毛🦅(mao)利🦎(li)率🦉(lv)-20.82%(yoy+0.64pp)，净🛫(jing)利📟(li)率🙄(lv)-71.00%(yoy+32.30pp)。投👺(tou)资🏪(zi)要🈯(yao)点⏬(dian)积🏕(ji)极🐇(ji)拓🆔(tuo)展🕛(zhan)海🐍(hai)外🐐(wai)市🥗(shi)场🔧(chang)，研🔞(yan)发🎈(fa)投🎃(tou)入🕰(ru)持🦆(chi)续⏫(xu)加🦌(jia)大🤰(da)2024Q1 公👆(gong)司🎉(si)销🎗(xiao)售🏀(shou)费📣(fei)用🗽(yong)率💛(lv)为🍵(wei)19.31%，管🚴(guan)理🔼(li)费🍸(fei)用👩(yong)率🈵(lv)为🌙(wei)33.51%，研📌(yan)发🍇(fa)费🌄(fei)用🚮(yong)率👀(lv)为🍅(wei)23.14%。2023 年👇(nian)公🛹(gong)司🐤(si)销🚥(xiao)售🛑(shou)费😻(fei)用🐗(yong)率🍩(lv)为🔇(wei)20.49%(yoy+10.10pp)，管🧓(guan)理🌈(li)费🚸(fei)用🐩(yong)率⏪(lv)为🍏(wei)31.03%(yoy+11.86pp)，研🔢(yan)发📖(fa)费🍔(fei)用😶(yong)率😔(lv)为〰(wei)24.86%(yoy+12.90pp)。2023 年🙈(nian)三👑(san)大➰(da)费🏍(fei)用🐜(yong)率🐶(lv)上💽(shang)升🕦(sheng)主👢(zhu)要🐎(yao)基🧢(ji)于⏳(yu)运👜(yun)营😀(ying)成🛄(cheng)本🗑(ben)显🏚(xian)著🕸(zhu)上🀄(shang)升⛔(sheng)、研🤤(yan)发📊(fa)上🈸(shang)持♏(chi)续🕤(xu)加⛑(jia)大😸(da)投🔮(tou)入💖(ru)、积🥞(ji)极🕗(ji)拓🏃(tuo)展🐆(zhan)海👴(hai)外⏱(wai)市🍢(shi)场🏣(chang)所🔭(suo)致🥗(zhi)CRO ye 🖲(ye)wu 🚜(wu)bao 👸(bao)chi 🏺(chi)zeng 🕷(zeng)chang 🍚(chang)，CDMO ye 🛸(ye)wu 🕹(wu)gong 🏚(gong)gu ✒(gu)ling 🥙(ling)xian 🚁(xian)di 🚟(di)wei 😥(wei)gong 🗽(gong)si 🔣(si)2023 nian ⛲(nian)ji ⏳(ji)yin 😧(yin)zhi 🌅(zhi)liao ⭐(liao)CRO ye 🚃(ye)wu ♟(wu)shi 🦗(shi)xian 🥨(xian)ying ♋(ying)shou 😓(shou)0.79 yi 📼(yi)yuan 💍(yuan)，tong 🎎(tong)bi 🍆(bi)zeng ✋(zeng)chang 🏺(chang)20.56%。CDMO ye 🈁(ye)wu 🛏(wu)qian 🐆(qian)zhan 🎀(zhan)xing 🗜(xing)bu 🏏(bu)ju 😬(ju)bao 💢(bao)kuo 🐋(kuo)bu 💦(bu)ju 🏳(ju)rong 👡(rong)liu 🎏(liu)bing 🧙(bing)du 🍡(du)、AAV ji 💁(ji)yin 🛎(yin)zhi ♑(zhi)liao 🧢(liao)、CAR-T/NK xi 🌺(xi)bao 💨(bao)zhi 🕳(zhi)liao 📇(liao)、gan 🙅(gan)xi 📋(xi)bao 🤵(bao)ji 👳(ji)mRNA deng 🆚(deng)duo 🚢(duo)ge 🥟(ge)qian 🕥(qian)yan 🕎(yan)ling 😣(ling)yu 🏐(yu)，jie 🎠(jie)zhi 🈵(zhi)2023 nian 📘(nian)gong 💳(gong)si 🌌(si)yi 🦅(yi)xie 👅(xie)zhu ⬅(zhu)ke ☔(ke)hu 🤫(hu)huo 🥇(huo)de 📊(de)zhong 🐗(zhong)mei 🍻(mei)IND pi 🔖(pi)jian 🐴(jian)32 xiang 🙌(xiang)、xi 🎬(xi)bao 📊(bao)yu ⛅(yu)ji 🐈(ji)yin 📱(yin)zhi 🍃(zhi)liao 😜(liao)CDMO xiang 🖌(xiang)mu 🏔(mu)shu 🎶(shu)liang 🚁(liang)chao 💮(chao)guo 😏(guo)330 xiang ⛰(xiang)、xin 🔆(xin)zeng 😅(zeng)ding 🍬(ding)dan 🐋(dan)chao 🐠(chao)guo 🏞(guo)2.5 yi 🕷(yi)yuan 🙅(yuan)。ji 🔙(ji)di 📜(di)jian 🚕(jian)she 🏏(she)tui 💺(tui)dong 🎟(dong)zeng 🦄(zeng)chang 🐬(chang)，chan 😴(chan)neng 💙(neng)shi 🎏(shi)fang 🤵(fang)qi 😰(qi)dai 💴(dai)wei 📒(wei)lai 🌲(lai)fa 🥁(fa)zhan 🚕(zhan)mu 👨(mu)qian 👤(qian)gong 🔮(gong)si 😗(si)yi 🧔(yi)yong 🌶(yong)you 🔜(you)GMP ji 🚝(ji)yin 🖌(yin)zhi 🆒(zhi)liao 📐(liao)zai 🥠(zai)ti 🗄(ti)sheng 🔹(sheng)chan 🚢(chan)xian ㊙(xian)15 tiao 🔠(tiao)，50L、200L、250L、500L、1,000L、2,000L bu 🤬(bu)tong 🐒(tong)gui 🏪(gui)ge 🎽(ge)de 🍞(de)quan 💌(quan)mian 💺(mian)xuan 🐾(xuan)fu 🌄(fu)gong 📰(gong)yi 📳(yi)sheng 📮(sheng)chan 🈯(chan)xian ✡(xian)，tie 🚷(tie)bi 🕒(bi)gong 🧑(gong)yi 🎖(yi)sheng ✒(sheng)chan 🕍(chan)xian 🦌(xian)，20 tiao 🎨(tiao)ge 🐧(ge)lei 😑(lei)xi ✖(xi)bao 🥇(bao)zhi 🥣(zhi)liao 🐤(liao)sheng 💃(sheng)chan 📶(chan)xian 💅(xian)。ji 🌊(ji)di 👇(di)xiang 🌚(xiang)mu 🦕(mu)yi 🚷(yi)qi ⛪(qi)bu 🍲(bu)fen 🖇(fen)chan 🏌(chan)neng 🎳(neng)yi 🙊(yi)yu 💀(yu)2023 nian ♐(nian)9 yue 🥛(yue)fen 😀(fen)zheng 👕(zheng)shi 🌼(shi)tou 🐕(tou)ru 👯(ru)yun 🚋(yun)xing 😹(xing)，ke 🈶(ke)chi 💧(chi)xu 💵(xu)wei 💂(wei)quan 🤚(quan)qiu ⏹(qiu)ji 📏(ji)yin ♎(yin)he 👬(he)xi 🧛(xi)bao 📃(bao)zhi 🎍(zhi)liao 🍕(liao)xing ☕(xing)ye 🏦(ye)ti 🐝(ti)gong 💯(gong)cong 🏕(cong)DNA dao 💷(dao)NDA de ♋(de)yi 🍌(yi)zhan 🎩(zhan)shi 😎(shi)CRO/CDMO jie 🦋(jie)jue 🕴(jue)fang 🦁(fang)an 🐨(an)。ying 😳(ying)li 🛡(li)yu 📃(yu)ce 📐(ce)shou 💹(shou)guo 🚻(guo)nei 📎(nei)CDMO ye 🔝(ye)wu 👥(wu)tuo ♈(tuo)zhan 🍮(zhan)、ding 〰(ding)dan 💓(dan)gui 🚟(gui)mo 🛑(mo)、xiang 🏫(xiang)mu 🕘(mu)jiao 🔈(jiao)fu 💄(fu)deng 🔺(deng)fang 📠(fang)mian 🔥(mian)bu 🕣(bu)li 🤵(li)ying 😿(ying)xiang 😘(xiang)，wo 👔(wo)men 🛏(men)yu 👉(yu)ji 🍐(ji)gong 🦄(gong)si 🤬(si)2024-2026 nian 📅(nian)ying 🔴(ying)ye 🍚(ye)shou 🕙(shou)ru 🥖(ru)wei 🔨(wei)2.52/3.04/3.71 yi ❗(yi)yuan 🌼(yuan)（yuan 👤(yuan)2024-2025 nian 👱(nian)wei 📠(wei)5.64/7.94 yi 🚗(yi)yuan 💹(yuan)）；gui 🍅(gui)mu 😽(mu)jing 😯(jing)li 📑(li)run 🍔(run)wei 🌼(wei)-1.26/-0.58/-0.15 yi 🚏(yi)yuan 👢(yuan)（yuan 🔽(yuan)2024-2025 nian 🌉(nian)wei 🏓(wei)0.72/1.03 yi 🔂(yi)yuan ✅(yuan)）；dui 🎄(dui)ying 🤟(ying)EPS wei 🌎(wei)-0.19/-0.09/-0.02 yuan 🍐(yuan)/gu 🏈(gu)（yuan 👶(yuan)2024-2025nian 👁(nian)wei ⏮(wei)0.15/0.21 yuan 👐(yuan)/gu 😟(gu)），tiao 🃏(tiao)zheng 🕳(zheng)wei 🔚(wei)“zeng 🕒(zeng)chi 🐟(chi)”ping 👩(ping)ji 🈹(ji)。feng 😙(feng)xian 📚(xian)ti 🌗(ti)shi 🗼(shi)：ding 💒(ding)dan 🦈(dan)zeng 🆎(zeng)chang 💅(chang)bu 🧑(bu)ji 😂(ji)yu 🐫(yu)qi 🅾(qi)，da 🕳(da)ding 😵(ding)dan 🚺(dan)bo 🚭(bo)dong 🦍(dong)dui 👊(dui)ye 🤵(ye)ji 🧀(ji)ying 🛠(ying)xiang 🧘(xiang)，hui 🐍(hui)lv 🦍(lv)bo 🥇(bo)dong 🚗(dong)dui 🦑(dui)ye ⤵(ye)ji 🎑(ji)ying 🛃(ying)xiang 🅿(xiang)，chan 🦈(chan)neng 🥌(neng)shi 🦁(shi)fang 🚑(fang)bu ➡(bu)ji 🕗(ji)yu 🍣(yu)qi 🛥(qi)，he 👭(he)xin 🈺(xin)ren 🌙(ren)yuan 🎿(yuan)liu 🐯(liu)shi 💿(shi)feng ❌(feng)xian 👁(xian)。