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Synmosa Biopharma Hits Record Revenue, Aims for Substantial Growth in Pharmaceutical Market

Jianqiao's Revenue Soars to 5.119 Billion Yuan, Eyes Expansion and Diversification in 2024
s 4114.TWO Mid and Small Cap 2000
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Synmosa Biopharma, a prominent domestic pharmaceutical company listed under the ticker 4114, has achieved a remarkable financial milestone. In the fourth quarter of the previous year, the company recorded a single-quarter revenue of 1.329 billion yuan, the highest in its history. This surge propelled the annual revenue to 5.119 billion yuan, marking a significant 16% year-on-year growth. Lin Zhihui, the chairman of Synmosa Biopharma, reaffirmed the company’s ambitious goal set in 2022 to become a regional pharmaceutical powerhouse with annual revenue in the tens of billions of yuan by 2026. For the current year, Jianqiao is committed to maintaining its momentum with double-digit revenue growth.

The company’s flagship product, the respiratory medicine “Aiketan,” played a pivotal role in this financial success. Last year, the sales of Aiketan tablets contributed approximately 100 million yuan to Synmosa Biopharma’s revenue. The respiratory products of Synmosa Biopharma, which accounted for about 24% of its total revenue, saw an impressive annual growth of 30%. This growth was primarily fueled by the steady sales of Aike phlegm and cough medicine and a remarkable 131.6% increase in the sales volume of nasal steroid sprays year-on-year. The demand for Synmosa Biopharma’s nasal spray surged, largely due to shortages from international pharmaceutical manufacturers, leading to Jianqiao becoming the dominant nasal spray company in the domestic market with over 40% market share.

Looking ahead to 2024, Synmosa Biopharma anticipates continued demand for respiratory products as COVID-19 evolves into a less harmful virus with recurring prevalence. The company expects robust sales of Aiketan in Hong Kong, Macao, Southeast Asia, and new markets in China, particularly during the traditional peak season.

In 2024, Synmosa Biopharma plans to implement strategies for factory construction, international expansion, strategic marketing, and exploring the OTC consumer market. These initiatives are part of the company’s strategy to sustain its value creation in a highly competitive market and to reach new operational heights. Synmosa Biopharma’s strategic vision and impressive financial performance position it as a formidable player in the global pharmaceutical industry.

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