On April 29, Yahong Pharmaceutical (688176) announced its first quarter report for 2025. The company's operating income was 61.10 million yuan, up 151.2% year-on-year; the net profit attributable to the parent company changed from a loss of 82.85 million yuan in the same period last year to a loss of 83.53 million yuan, and the loss amount further expanded; the net profit attributable to the parent company after deducting non-recurring items changed from a loss of 93.23 million yuan in the same period last year to a loss of 89.35 million yuan, and the loss amount decreased; the net operating cash flow was -110 million yuan, up 14.5% year-on-year; EPS (fully diluted) was -0.1465 yuan.

As of the end of the first quarter, the company's total assets were 2.162 billion yuan, down 2.8% from the end of the previous year; the net assets attributable to the parent company were 1.891 billion yuan, down 4.0% from the end of the previous year.

The company's main business is focused on the research and development and sales of drugs, especially the significant increase in the sales of pazopanib tablets and neratinib maleate tablets, which has driven the growth of operating income. The company's investment in research and development accounted for 90.11% of its operating income, showing its emphasis on the research and development of new drugs.

In addition, the company's cash flow during the reporting period showed that the net cash flow generated by operating activities was -110 million yuan, reflecting certain pressure on operating expenses. Despite this, the company's total assets were 2.162 billion yuan and the owners' equity attributable to shareholders was 1.891 billion yuan. Overall, the company's position in the market and the market demand for its products still show certain potential and room for development.

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