[Click eStock] "CNR Research, Overseas Expansion Needs Long-Term Verification"

Growth Research pointed out on the 24th that the overseas market expansion status of CNR Research should be monitored in the mid to long term.

CNR Research is the number one clinical trial organization (CRO) in South Korea based on domestic sales, providing services across all areas related to clinical development for pharmaceutical companies and bio ventures. The CRO business is a service industry that conducts research and development on behalf of clients during the drug development process, including new drugs and improved new drugs. The services provided by CNR Research cover the stages from candidate substance discovery and non-clinical trials to the clinical trial application stage, clinical trial stage, and product approval stage in the new drug development process. Its main clients are domestic pharmaceutical and biotech companies, numbering around 200 to 250.

Researcher Jaemo Lee of Growth Research said, "There will be changes in the sales composition ratio due to an increase in overseas clients in the future. As of this year, the overseas sales ratio is expected to be about 10 to 15%. In the long term, the goal is to increase the sales ratio to over 30% and to generate more than 50% of sales from multinational countries." He added, "Since the company internally views overseas expansion as the biggest growth driver and manages accordingly, it is important to check the progress of overseas expansion, such as establishing subsidiaries and securing clients."

He continued, "Although dividends have never been paid since listing, it seems that dividends are being considered as distributable profits have occurred. Whether dividends will be paid for the 2024 fiscal year is uncertain, but it is positive that dividend payments will become possible as profit growth continues in the future."

This content was produced with the assistance of AI translation services.