SRZN Latest Report

Financial Performance

Surrozen (stock code: SRZN) recorded an operating income total of RMB6.55 million in 2024, despite revenue growth, but its overall financial condition is poor, indicating potential operating risks. The pre-tax profit was -RMB28.04 million, reflecting greater pressure on profitability due to increased costs and expenses.

Key Financial Data

1. The operating income total in 2024 was RMB6.55 million, showing a growth trend, but specific year-on-year data is missing, making it impossible to confirm the effectiveness of the growth.

2. The pre-tax profit was -RMB28.04 million, a significant deterioration from -RMB8.91 million in 2023, indicating a decline in profitability.

3. Research and development expenses were RMB5.35 million, slightly lower than RMB6.09 million in 2023, but still exerting pressure on profits.

4. Marketing, sales, and management expenses were RMB3.89 million, up from RMB3.59 million in 2023, further squeezing profits.

5. Total liabilities were RMB6.9847 million, a significant increase from RMB8.145 million in 2023, increasing financial leverage and risk.

Industry Comparison

1. Overall industry analysis: The biopharmaceutical industry faces high research and marketing costs. Surrozen's operating income growth failed to effectively translate into profits, reflecting the general profitability pressure in the industry. The performance of other companies in the industry needs further comparison to assess Surrozen's relative competitiveness.

2. Peer evaluation analysis: Surrozen's operating income growth is relatively small, unable to support its high operating expenses and debt levels, leading to a weaker overall financial health.

Summary

Although Surrozen achieved revenue growth in 2024, its overall financial condition did not improve. The significant pre-tax loss and high debt levels indicate that the company faces significant operating risks. Although the industry's overall growth potential remains, Surrozen needs to take effective measures to improve profitability and cost control.

Opportunities

1. Continue to develop SZN-043, which may bring significant market potential if clinical trials are successful.

2. Benefit from the growing demand for biotechnology within the industry through mergers and acquisitions or partnerships.

3. Effective control of research and management expenses can help expand profit margins.

Risks

1. High debt levels may increase financial risk, affecting the company's operations and future financing capabilities.

2. Pre-tax profits remain negative, requiring caution against the risk of continued losses.

3. The biopharmaceutical market is highly competitive, and if the development of new drugs does not meet expectations, it may affect the company's market position.