**Title:** "TransCode's 2024 Financial Report: A Struggle for Growth Amidst Increased Competition and Rising R&D Costs"

Financial Performance

TransCode (RNAZ) recorded a total operating revenue of -5092388 yuan in 2024, down 24.36% from -4097588 yuan in 2023, indicating the company failed to achieve revenue growth during the reporting period and instead faced a larger loss, reflecting the challenges it faces in market competition and operational management.

Key Financial Data

1. The operating revenue in 2024 was -5092388 yuan, compared to -4097588 yuan in 2023, showing further deterioration in operating revenue.

2. R&D expenses increased to 3638375 yuan in 2024 from 3363626 yuan in 2023, but failed to effectively translate into revenue growth.

3. The industry as a whole faces pressure from declining market demand and intensified competition, resulting in poor overall operating revenue performance.

Industry Comparison

1. Industry-wide analysis: The biopharmaceutical industry is affected by rising R&D costs and intensified competition, with many companies experiencing a downward trend in revenue. This reflects the industry's difficulty in adapting to market changes and may also be affected by policy changes.

2. Peer evaluation analysis: TransCode's operating revenue is significantly lower than the industry average, indicating the company's disadvantage in market competition and the need to re-examine its business model and market strategy to enhance competitiveness.

Summary

TransCode's financial data in 2024 reflects its unfavorable performance in the market demand and competitive environment, with negative revenue growth indicating the urgency of effective measures to improve its financial situation. Although R&D expenses have increased, if they fail to translate into viable market products, they may continue to affect revenue and profits.

Opportunities

1. Progress in clinical trials in the field of anti-tumor treatment may provide new growth points for future revenue.

2. Strategic cooperation with Akribion Genomics may drive the company's progress in innovative drug development and enhance market competitiveness.

3. The overall demand for the biopharmaceutical industry may provide new market opportunities, especially in the context of favorable policies for new drug development.

Risks

1. Unstable market demand may continue to suppress the company's revenue growth.

2. Intensified competition may lead to further decline in market share and affect profitability.

3. The return on R&D investment is uncertain, and if new products are not effectively launched, it may lead to increased financial pressure.