KeQian Biotech's non-recurring net profit is expected to grow by 12.74% in 2025, with the main veterinary drug business accounting for 95.17%.

Blue Whale News, April 7 — On April 7, KeQian Biotechnology released its 2025 performance report. Data shows that the company achieved an operating revenue of 950 million yuan in 2025, a year-on-year increase of 0.83%; net profit attributable to the parent company was 419 million yuan, up 9.51% year-on-year; and non-recurring net profit was 352 million yuan, an increase of 12.74%.

The main business structure continues to focus on veterinary biological products. This segment’s revenue reached 890 million yuan, accounting for 95.17% of the main business revenue, further increasing compared to the previous year; revenue from other businesses shrank to 4.83%.

During the reporting period, all of the company’s main business revenue came from the domestic market, with no structural changes in regional distribution, maintaining a 100% domestic sales pattern.

Research and development investment reached 96.41 million yuan, an increase of 11.95%, accounting for 10.15% of operating revenue; R&D personnel increased from 315 to 358, with investment intensity and team size expanding in tandem, reflecting the company’s continued focus on technological iteration and capacity upgrades. During the same period, sales expenses were 105 million yuan, a decrease of 7.75% year-on-year.

The dividend policy continues to maintain a stable and high proportion, with plans to distribute a cash dividend of 6.4 yuan (including tax) for every 10 shares, totaling 298 million yuan, accounting for 71.25% of net profit attributable to the parent.