In the earnings conference held today, Tianxin Pharma (603235.SH) General Manager Yu Xiaobing attributed the growth of the company in Q3 to factors such as increased sales volume and price increases of vitamin products. He also mentioned that there are signs of recovery in the vitamin market demand in the second half of this year compared to the same period last year, leading to a price increase in folic acid. In addition, Tianxin Pharma Secretary Dong Yi also provided answers to questions regarding fundraising projects.

Regarding the company's performance issues, Yu Xiaobing explained to investors that the growth of the company in Q3 is mainly due to the increase in sales volume of vitamin products and the price increase of some vitamin products. He also disclosed to the financial news reporter that the company's comprehensive gross margin in Q3 was 42.67%. In terms of regional revenue, the company's export revenue in the first three quarters of this year was 0.832 billion yuan, a decrease of 4.10% year-on-year, with Q3 export revenue of 0.243 billion yuan, an increase of 12.78% year-on-year.

According to the 2024 third-quarter report, Tianxin Pharma achieved revenue of 0.547 billion yuan in Q3, an increase of 49.12% year-on-year; achieved a net profit attributable to the parent company of 0.149 billion yuan in Q3, an increase of 80.01% year-on-year.

In addition, Yu Xiaobing revealed that in the second half of this year, there is a recovery in demand in the vitamin market compared to the same period last year. Recently, folic acid prices have risen mainly due to changes in market supply and demand.

Tianxin Pharma's main products are B vitamins and other vitamins. Among them, B vitamins include vitamin B6, vitamin B1, biotin, folic acid, etc.; other vitamins include vitamin D3, ascorbyl palmitate, vitamin E powder, etc.

Since the second half of this year, the vitamin market has become increasingly heated due to multiple stimulating factors. Market data shows that on December 3rd, there was an increase in inquiries for VD3, with the current mainstream fill price ranging from 220-240 yuan/kg, and some frontline supplies priced close to 250 yuan/kg, an increase of over 300% compared to the same period last year. The fill price of folic acid is in the range of 310-330 yuan/kg, a 75.82% year-on-year increase. In addition, the prices of VB6 and VB1 have also increased compared to the same period last year.

On the other hand, Dong Yi revealed to investors that in the company's fundraising projects, the “Annual Output of 7000 Tons of Vitamin B5 Project” with an initial capacity of 3000 tons, and the “Annual Output of 1000 Tons of Vitamin A Project” with an initial capacity of 500 tons, are being put into production successively.

The semi-annual report of 2024 shows that Tianxin Pharmaceuticals has 7 raised investment projects, involving an annual production of 0.06677 million tons of fine chemicals project, corporate research institute project, etc., all of which are funded by the initial public offering of stocks. Among them, the 'Phase I 1000-ton annual production of Vitamin A project' has a total planned investment of 0.431 billion yuan, and the planned total investment for the 7000-ton annual production of Vitamin B5 project is 0.16 billion yuan.