Coren Pharmaceuticals: It is expected that the synthetic biology business will achieve significant improvement in revenue and profit by 2025.

On April 3, Corun Pharmaceuticals stated in a institutional research that the company will focus on expanding the production of flavors and fragrances products by 2026. With the gradual production of the Jiangning biological base and the development of new products, it is expected that the synthetic biology business will achieve significant improvement in terms of revenue and profit compared to 2025. Regarding the impact of tariffs, the overall export amount of the company in 2025 increased compared to 2024, mainly due to an increase in the export volume of 6-APA, while the export volume of cephalosporin and sulfur red products slightly decreased. The company does not directly export to the United States, and import business is also minimal. The current tariff policy has not had a significant impact on the company's export of intermediates.