Core Viewpoint - 康哲药业 is entering a new growth phase, with management expressing confidence in the upcoming long-term growth cycle driven by innovative products [1] Financial Performance - For the first half of 2025, 康哲药业 reported revenue of approximately 4.0 billion yuan, a year-on-year increase of 10.8% [1] - The net profit for the same period was approximately 930 million yuan, reflecting a year-on-year growth of 3.1% [1] - The company's total market capitalization exceeded 33 billion HKD following the earnings announcement [1] Product Development and Market Position - 康哲药业 has five innovative drugs successfully commercialized in China, with sales from major non-national procurement exclusive/brand products and innovative products totaling approximately 2.9 billion yuan, a year-on-year increase of 20.6%, accounting for 62.1% of total revenue [2] - The company anticipates the approval of two innovative products, 芦可替尼乳膏 and 德昔度司他片, by the end of the year, with the former being a significant potential treatment for vitiligo [2] - The management highlighted that 芦可替尼乳膏 is the first and only topical JAK inhibitor approved by the FDA and EMA for non-segmental vitiligo, expected to fill a market gap in China [2] Strategic Initiatives - 德镁医药 is working towards independent listing on the Hong Kong Stock Exchange to unlock its growth potential [3] - 康哲药业 successfully completed a secondary listing on the Singapore Exchange, marking a step forward in its internationalization strategy [3] - The company aims to launch three to five innovative products annually and is also looking to achieve investment returns through IPOs of associated companies [3]

Group 1 - In the first half of 2025, the company achieved revenue of approximately 4.0 billion yuan, a year-on-year increase of 10.8%, and a net profit of about 930 million yuan, up 3.1% year-on-year [1] - The company's main exclusive/brand products and innovative products generated sales revenue of approximately 2.9 billion yuan, a year-on-year increase of 20.6%, accounting for 62.1% of total sales revenue [1] - The company has successfully commercialized five innovative drugs and expects two more innovative products to be approved for market launch within 2025 [1] Group 2 - On April 22, 2025, the company announced plans to spin off its skin health business, Dermay Pharmaceuticals, for independent listing on the Hong Kong Stock Exchange to unlock its independent value and high growth potential [2] - On July 15, 2025, the company successfully completed a secondary listing on the Singapore Exchange, marking a new milestone in its "industrial internationalization" strategy [2] - The company aims to build a sustainable second growth curve based on three strategic pillars: product innovation, business innovation, and international expansion [2]

Core Viewpoint - 康哲药业's 2025 mid-year performance report shows revenue and profit growth, indicating the effectiveness of its strategic transformation [1] Financial Performance - The company achieved approximately 4.0 billion RMB in revenue, a year-on-year increase of 10.8% [1] - Revenue from drug sales was about 4.67 billion RMB, up 8.9% year-on-year [1] - Net profit reached approximately 930 million RMB, reflecting a 3.1% year-on-year growth [1] Strategic Transformation - 康哲药业 has successfully moved past the challenges posed by national procurement, with a significant portion of revenue coming from exclusive/brand products and innovative products, totaling about 2.9 billion RMB, which is a 20.6% increase and accounts for 62.1% of total revenue [1] - The company has been implementing a "New 康哲" transformation strategy since 2018, focusing on product innovation, business innovation, and international expansion [1] Product Innovation - The "product innovation" strategy is a key driver of growth, utilizing a three-dimensional innovation mechanism of overseas licensing, domestic collaboration, and independent research and development [2] - Five innovative drugs have been commercialized in China, with two more expected to be approved within 2025 [2] - The innovative drug 芦可替尼乳膏 is set to be the first treatment for non-segmental vitiligo in China, filling a market gap [2] Clinical Development - The company has several promising candidates in late-stage clinical development, expected to enter commercialization in the next 1-3 years [2][3] - The injection product Y-3 has completed Phase III clinical trials and is positioned as a dual-function neuroprotective drug [3] - The oral small molecule drug ABP-671 is progressing through clinical trials and aims to provide a safer and more effective treatment for gout [3] Business Model and International Expansion - 康哲药业 is advancing its "new model" and "new region" strategies to create a multi-dimensional growth framework [4] - The company is focusing on specialized fields and expanding into new retail and media channels, establishing a comprehensive marketing system [4] - The company successfully completed a secondary listing on the Singapore Exchange, marking a significant step in its internationalization strategy [4][5] Future Outlook - The growth logic of "New 康哲" is expected to accelerate, enhancing profitability and performance resilience [5] - The company is building a growth system centered on differentiated innovation, supported by a multi-ecosystem and international layout, aiming for high-quality development and sustainable returns for shareholders [5]

Group 1 - The company achieved revenue of approximately 4.0 billion yuan in the first half of 2025, representing a year-on-year growth of 10.8%, and a net profit of about 930 million yuan, up 3.1% year-on-year [1] - The sales revenue from the company's major exclusive/brand products and innovative products reached approximately 2.9 billion yuan, a year-on-year increase of 20.6%, accounting for 62.1% of the total sales revenue of approximately 4.67 billion yuan [1] - The company has successfully commercialized five innovative drugs and expects two more innovative products to be approved for market in 2025 [1] Group 2 - The company announced plans to spin off its skin health business, Dermay Pharmaceuticals, for independent listing on the Hong Kong Stock Exchange to unlock its independent value and high growth potential [2] - The company successfully completed a secondary listing on the Singapore Exchange on July 15, 2025, marking a new milestone in its "industrial internationalization" strategy [2] - The company aims to build a sustainable second growth curve supported by three strategic pillars: product innovation, business innovation, and international expansion [2]

Core Viewpoint - 康哲药业 reported a significant recovery in its operating performance for the first half of 2025, driven by the end of negative impacts from national procurement policies and sustained growth in exclusive/brand and innovative product sales, which now account for 62.1% of total revenue [1][2]. Financial Performance - The company's revenue increased by 10.8% year-on-year to RMB 4.002 billion, with a drug sales revenue growth of 8.9% to RMB 4.67 billion [1]. - Gross profit rose by 7.2% to RMB 2.892 billion, with drug sales gross profit also increasing by 7.2% to RMB 2.882 billion [1]. - Net profit attributable to shareholders grew by 3.1% to RMB 931.5 million, with earnings per share at RMB 0.3892 and an interim dividend of RMB 0.1555 per share declared [1]. Product and Market Development - The company has a pipeline of approximately 40 differentiated innovative products, with 5 innovative drugs already approved in China and commercialized [3]. - The sales of exclusive/brand and innovative products have shown a significant increase, contributing to the overall revenue growth [2]. - The company is focusing on specialized areas, with its skin health brand "德镁医药" becoming a leading innovative pharmaceutical company in China, planning to list independently on the Hong Kong Stock Exchange [2]. Strategic Initiatives - 康哲药业 is pursuing an internationalization strategy, having completed a secondary listing on the Singapore Exchange in July 2025, which is expected to enhance its brand influence in Southeast Asia and international markets [2]. - The company is actively advancing its research and development efforts, with around 20 self-developed projects progressing steadily, and 5 projects entering clinical development stages [3].

康哲药业(00867)公布，陈洪兵先生已提交辞呈，自2025年8月18日起辞任非执行董事职务，以便投入更 多时间处理其个人事务及陪伴家人。陈洪兵先生亦自同日起辞任公司资深顾问职务。 ...

Core Viewpoint - 康哲药业 has reported a significant recovery in its operating performance for the first half of 2025, driven by the end of negative impacts from national procurement policies and sustained growth in exclusive/brand and innovative product sales, which now account for 62.1% of total revenue [1][2]. Financial Performance - The company's revenue increased by 10.8% year-on-year to RMB 4.002 billion, with a drug sales revenue growth of 8.9% to RMB 4.67 billion [1]. - Gross profit rose by 7.2% to RMB 2.892 billion, with drug sales gross profit also increasing by 7.2% to RMB 2.882 billion [1]. - Net profit attributable to shareholders grew by 3.1% to RMB 931.5 million, with earnings per share at RMB 0.3892 and an interim dividend of RMB 0.1555 per share declared [1]. Product and Market Development - The company has a pipeline of approximately 40 differentiated innovative products, with 5 innovative drugs already approved in China and commercialized [3]. - The sales of exclusive/brand and innovative products have shown a significant increase, contributing to the overall revenue growth [2]. - The company is focusing on specialized areas, with its skin health brand "德镁医药" becoming a leading innovative pharmaceutical company in China [2]. Strategic Initiatives - 康哲药业 is pursuing an internationalization strategy, having completed a secondary listing on the Singapore Exchange in July 2025, which is expected to enhance its brand influence in Southeast Asia and international markets [2]. - The company is actively exploring new retail, new media, and consumer healthcare avenues, with early successes noted in these areas [2].

智通财经APP讯，康哲药业(00867)公布，陈洪兵先生已提交辞呈，自2025年8月18日起辞任非执行董事 职务，以便投入更多时间处理其个人事务及陪伴家人。陈洪兵先生亦自同日起辞任公司资深顾问职务。 ...

董事名單與其角色和職能 梁創順先生 羅瑩女士 馮征先生 ﹡僅供識別 China Medical System Holdings Limited（「本公司」）董事會（「董事會」）的 成員名單乃載列如下： 執行董事： 林剛先生 (主席兼行政總裁） 陳燕玲女士 (首席財務官、副總裁) 獨立非執行董事： | 委員會 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | 環境、社會及 管治委員會 | | --- | --- | --- | --- | --- | | 林剛先生 | | | M | | | 陳燕玲女士 | | | | C | | 梁創順先生 | M | C | M | M | | 羅瑩女士 | M | M | C | | | 馮征先生 | C | M | M | M | 附註： C代表有關委員會的主席 M代表有關委員會的成員 香港，二零二五年八月十八日 1 董事會設立四個委員會。下表提供各董事會成員在這些委員會中所擔任的職位。 ...

Core Viewpoint - 康哲药业 reported a 10.8% year-on-year increase in revenue to RMB 4.002 billion for the six months ending June 30, 2025, with a net profit growth of 3.1% to RMB 930 million, and basic earnings per share rising by 4.2% to RMB 0.3892 [1] Financial Performance - Revenue increased by 10.8% to RMB 4.002 billion [1] - Net profit grew by 3.1% to RMB 930 million [1] - Basic earnings per share rose by 4.2% to RMB 0.3892, compared to RMB 0.3734 in the 2024 interim period [1] - Interim dividend declared at RMB 0.1555 per share, up 3.2% [1] Product Development - The product portfolio has been enriched with the addition of innovative products ZUNVEYL and MG-K10 [1] - ZUNVEYL's New Drug Application (NDA) was accepted by the National Medical Products Administration (NMPA) in July 2025 [1] - The injection product LIZHENRAN was approved for market entry in China in July 2025 [1] - Five existing innovative drugs are progressing steadily in commercialization, with scale effects becoming apparent [1] Strategic Initiatives - The company is focusing on specialty areas and actively deploying new retail and new media strategies to enhance its consumer healthcare product offerings [1] - The skin health business "德镁医药" is set to be independently listed on the Hong Kong Stock Exchange to unlock its independent value and high growth potential [1]