Recently, Shenzhen Hanyu Pharmaceutical Co., Ltd.According to the third-quarter report of 2025 disclosed by Hanyu Pharmaceutical Co., Ltd. (hereinafter referred to as " Hanyu Pharmaceutical ", 300199.SZ), the company suffered a net loss of 74.1171 million yuan in the quarter, a year-on-year decrease of 203.18%. However, the net profit for the first three quarters showed a significant increase, turning a profit compared to the same period last year. At the same time, the company's cash flow continued to improve.

According to the Economic Information Daily, Hanyu Pharmaceutical has suffered losses for three consecutive years, but its performance has continued to grow this year. It is currently accelerating its layout of peptide drugs, and overseas markets have become its growth engine.

Net profit turned around year-on-year in the first three quarters

Founded in April 2003, Hanyu Pharmaceutical is a national high-tech enterprise specializing in the research, development, production, and sales of polypeptide drugs. It was listed on the Shenzhen Stock Exchange in 2011 and is one of the earliest listed polypeptide drug companies in my country.

Data shows that in the first three quarters of this year, Hanyu Pharmaceutical achieved operating revenue of 683 million yuan, a year-on-year increase of 82.06%; net profit attributable to shareholders of the listed company was 71.3515 million yuan, a significant increase of 305.00%, turning a loss into a profit compared to a loss of 34.8056 million yuan in the same period last year; net cash flow from operating activities was 271 million yuan, a year-on-year increase of 207.37%.

A review of Hanyu Pharmaceutical's annual reports by reporters revealed that the company has suffered losses for three consecutive years. From 2022 to 2024, the net profit attributable to shareholders of the listed company was -371 million yuan, -514 million yuan, and -174 million yuan, respectively.

In the first quarter of this year, Hanyu Pharmaceutical achieved a turnaround from a loss to a profit compared to the same period last year. According to its Q1 2025 report, its net profit attributable to shareholders of the listed company was 69.8684 million yuan, compared to a loss of 14.102 million yuan in the same period last year.

Accelerating the development of peptide drugs

Hanyu Pharmaceutical has 29 peptide drugs, 9 new drug certificates, and 31 clinical trial approvals. Currently, the company's core business focuses on four main segments: peptide formulations, active pharmaceutical ingredients (APIs), small nucleic acids, and CRDMO (Contract Research, Development and Manufacturing Organization, representing integrated, end-to-end drug research and development and manufacturing services).

According to reports, Hanyu Pharmaceutical is accelerating its development in the field of peptide drugs.

On September 26, Hanyu Pharmaceutical disclosed a preliminary plan to issue A-shares to specific targets. The company plans to raise no more than 968 million yuan, which will be mainly invested in projects such as the expansion of its peptide drug production line and green intelligent construction, and the research and development of Smegglutide. Regarding the purpose of this issuance, Hanyu Pharmaceutical stated that it aims to: 1) expand the company's peptide drug pipeline and production scale to meet the company's strategic development needs; and 2) optimize the company's capital structure, reduce financial risks, and improve the company's operational capabilities.

Hanyu Pharmaceutical stated that the market potential for GLP-1 weight loss/hypoglycemic drugs, represented by Smegglutide, is vast.

Furthermore, during the third quarter reporting period, Hanyu Pharmaceutical made progress in market expansion for its related products. On August 20, 2025, the company signed the "Contract Manufacturing and Supply Agreement," the "Drug Contract Manufacturing Quality Agreement," and the "Supplementary Agreement I to the Cooperation Agreement on Smegglutide Injection" with Zhejiang Sansheng Mandi Pharmaceutical Co., Ltd. Both parties reached an agreement on key matters such as supply planning after the product's market approval, marking a new stage in the commercialization of the cooperation. In the future, both parties will integrate their respective advantages and resources to accelerate the marketization process of this product.

Continuing to expand into overseas markets

The Economic Information Daily reporter noted that Hanyu Pharmaceutical is one of the few companies in the world with large-scale production of peptide raw materials, especially in the industrialization of peptide specialty raw materials and formulations with high technical difficulty such as liraglutide, glatiramer, telposide, smegglutide, and lanreotide, and has a high international reputation.

In recent years, the company has been continuously expanding its overseas market presence, achieving international breakthroughs with its core product, liraglutide injection. In December 2024, the company's liraglutide injection received FDA approval in the United States, becoming the first generic liraglutide drug to enter the US market, rapidly seizing market share after the original patent expired. Leveraging the results of its long-term capacity upgrade strategy, the company has independently controlled the entire production chain from active pharmaceutical ingredients (APIs) to finished products, an advantage that drives high operating profit margins in its overseas business.

Meanwhile, Hanyu Pharmaceutical's overseas business is making full-fledged efforts, with "APIs + formulations" driving future development. It is understood that the company's international business has expanded to more than 90 countries and regions in North America, South America, Europe, Asia, and the Middle East. Leveraging the economies of scale in API and formulation exports, the international business has experienced a strong rise, becoming the core engine of the company's performance growth.

On August 22, 2025, the company's atosiban acetate injection obtained marketing authorization in Vietnam. This authorization will further enrich the company's overseas product pipeline and expand its overseas markets.

According to reports, in 2024, international business accounted for more than 50% of Hanyu Pharmaceutical's total revenue. The liraglutide formulation obtained FDA approval in the United States, which drove the company's market growth and achieved a significant reduction in losses, laying a solid foundation for further internationalization in 2025.

Source: https://finance.eastmoney.com/a/202511033552811970.html