SGMT Latest Report

Performance of the Current Financial Report

Based on the financial data provided, Sagimet Biosciences (stock code: SGMT) had a total operating revenue of -18195000 yuan at the end of 2024, down from -9466000 yuan at the end of 2023. Due to the negative operating revenue, it indicates that the company's operating situation is not good in these two years and may face serious financial difficulties.

Key Data in the Financial Report

1. The total operating revenue in 2024 was -18195000 yuan, a significant decrease from -9466000 yuan in 2023, indicating a deterioration in the company's revenue performance. The negative operating revenue indicates that the company has faced major challenges in sales or operational activities, which may cause investors to worry about its future profitability.

2. The research and development expenses in 2024 were 14216000 yuan, a significant increase from 5656000 yuan in 2023, which may lead to improper resource allocation and affect short-term sales revenue.

3. The marketing, sales, and general management expenses in 2024 were 3979000 yuan, slightly up from 3810000 yuan in 2023, which may have added to the company's financial burden to some extent.

Peer Comparison

1. Industry-wide analysis: Overall, the biotechnology industry faces challenges in new drug development and market access, and many companies may experience revenue fluctuations. Intensified competition within the industry and policy regulations may also cause revenue fluctuations. In 2024, the biotechnology and medical industry showed active performance in policy support, technological innovation, and corporate mergers and acquisitions, with the government increasing policy support for the biopharmaceutical sector, indicating the industry's recovery and development potential. [Source](https://mp.weixin.qq.com/s?__biz=MzA5MDE5ODA1MQ==&idx=2&mid=2649627084&sn=079fb554a7fa23acef7ff80e7d390ba1)

2. Peer evaluation analysis: Compared with other companies in the same industry, Sagimet Biosciences' operating revenue performance is significantly poor, and its market position and future profitability need to be focused on. If other companies in the industry achieved positive operating revenue growth during this period, SGMT's negative operating revenue would further highlight its pressure. For example, Novo Nordisk's revenue grew significantly in the first quarter of 2024, showing its competitive advantage in the market. [Source](https://m.163.com/dy/article/J3C9CTJD05199NPP.html)

Summary

Sagimet Biosciences' operating revenue decreased significantly in 2024, reflecting serious challenges in market competition and product sales. The sharp increase in research and development expenses may lay a foundation for future development but negatively affected the company's financial situation in the short term. In addition, the strong performance of other competitors in the industry further intensified Sagimet's market pressure.

Opportunities

1. With positive results from Sagimet Biosciences' clinical trials in NASH treatment, it may attract new investors and partners in the future.

2. The use of new facilities is expected to enhance production capacity and help future order growth.

3. Government policy support for the biopharmaceutical industry may provide a good environment for the company's future development.

Risks

1. The negative operating revenue may lead to insufficient investor confidence, which may affect the company's stock price.

2. The increase in research and development expenses may add to the company's financial burden in the short term.

3. Intensified competition within the industry and persistent market weakness may limit the company's revenue growth.