根据MEDraysintell的数据，全球核药市场规模预计将于2032年达到近390亿美元。公司表示，177Lu- PSMA-3D1015注射液有望成为具备"同类最佳"潜力的核药产品，最终为全球前列腺癌患者带来更安 全、更有效的治疗新选择，推动中国核药研发水平向国际领先行列迈进。 消息面上，思路迪医药股份近日公告，公司自主研发核药平台首个放射性核素偶联药物(RDC)177Lu- PSMA-3D1015注射液完成IIT研究首例患者给药。本研究旨在评估3D1015用于PSMA阳性转移性去势抵 抗性前列腺癌(mCRPC)患者的安全性与初步疗效。 思路迪医药股份(01244)涨超10%，截至发稿，涨13.96%，报9.06港元，成交额1758.77万港元。 ...

消息面上，思路迪医药股份近日公告，公司自主研发核药平台首个放射性核素偶联药物(RDC)177Lu- PSMA-3D1015注射液完成IIT研究首例患者给药。本研究旨在评估3D1015用于PSMA阳性转移性去势抵 抗性前列腺癌(mCRPC)患者的安全性与初步疗效。 根据MEDraysintell的数据，全球核药市场规模预计将于2032年达到近390亿美元。公司表示，177Lu- PSMA-3D1015注射液有望成为具备"同类最佳"潜力的核药产品，最终为全球前列腺癌患者带来更安 全、更有效的治疗新选择，推动中国核药研发水平向国际领先行列迈进。 智通财经APP获悉，思路迪医药股份(01244)涨超10%，截至发稿，涨13.96%，报9.06港元，成交额 1758.77万港元。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 思路迪医药股份有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01244 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.001 | HKD | | 500,000 | | 增加 / 減少 (-) | | | | | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | 0.001 | HKD | | 500,000 | 本月底法定/註冊股本總額： H ...

Group 1 - The company's total revenue for the six months ending June 30, 2025, increased by 1.3% to RMB 209.2 million from RMB 206.4 million in the same period of 2024, primarily driven by sales of the commercialized drug Envita (a subcutaneous PD-L1 inhibitor) [1] - Gross profit for the same period rose by 2.1% to RMB 192.9 million from RMB 188.9 million in 2024, with a gross margin increase from 91.5% to 92.2%, attributed to higher product sales and a slight reduction in related taxes and fees [1] - The total comprehensive loss decreased by RMB 21.5 million to RMB 92.6 million for the six months ending June 30, 2025, due to increased gross profit from sales growth and effective control of administrative expenses, which saved RMB 13.8 million [1] Group 2 - The company holds a broad patent portfolio, including 13 authorized patents in China, 24 authorized patents in other jurisdictions, and 19 pending patent applications, demonstrating its commitment to protecting its products and technologies [2] - As an innovative, commercialization-driven biopharmaceutical company, the company has made significant breakthroughs in various fields, with ongoing clinical research and development efforts focused on early-stage research and expanding indications for Envita [2] - The company aims to maintain stable revenue while achieving all key R&D milestones as planned, emphasizing its pursuit of breakthrough innovations and deepening global strategic partnerships to advance overseas commercialization [2]

智通财经APP讯，思路迪医药股份(01244)发布截至2025年6月30日止6个月中期业绩，该集团取得收入 2.09亿元，同比增加1.33%;公司拥有人应占亏损8935万元，同比减少13.68%;每股基本亏损0.36元。 公告称，于报告期内，集团所有的收入都来自于直接合作的分销商对于已商业化产品恩维达®(恩沃利 单抗，皮下注射PD-L1抑制剂)的销售。截至2025年6月30日止6个月，集团的收入从2024年同期的人民 币2.06亿元上升至人民币2.09亿元，上升了1.3%。销售收入的稳中增长是公司多年积累商业化布局的结 果，商业化团队的强大能力和销售量的提升，未来增长可期。 ...

[Company Overview and Business Highlights](index=1&type=section&id=Company%20Overview%20and%20Business%20Highlights) The company capitalized on the Hong Kong capital market recovery in H1 2025, particularly in biotechnology, achieving breakthroughs in R&D, early-stage research, Envafolimab® indications, and nuclear medicine and mRNA platforms, entering a new phase of "dual-driven growth and global innovation breakthroughs" [Business Summary](index=1&type=section&id=Business%20Summary) The company achieved significant breakthroughs in R&D, early-stage research, Envafolimab® indications, and nuclear medicine and mRNA platforms, entering a new phase of dual-driven growth and global innovation - The Hong Kong capital market recovered in H1 2025, with biotechnology ETFs performing strongly, presenting opportunities for the company[4](index=4&type=chunk) - The company prudently increased early-stage research, guided by forward-looking clinical needs, and successfully expanded Envafolimab® indications[4](index=4&type=chunk) - Multiple proprietary nuclear medicine and mRNA platform products with global intellectual property rights are advancing clinical research[4](index=4&type=chunk) - The company entered a new era of "dual-driven growth and global innovation breakthroughs," deepening global strategic collaborations[4](index=4&type=chunk) [Strategic Transformation and Core Platforms](index=7&type=section&id=Strategic%20Transformation%20and%20Core%20Platforms) The company is strategically shifting from chronic tumor management to prevention of metastasis and recurrence, leveraging RDC and LNP-mRNA platforms to establish a tumor prevention system driven by unmet medical needs and technological advancements - The company's strategy expanded from chronic tumor management and precision therapy to preventing tumor metastasis and recurrence, aiming to establish a tumor prevention system via RDC and LNP-mRNA platforms[18](index=18&type=chunk) - This strategic evolution is driven by unmet medical needs, technological advancements, and the company's positioning, adapting to the trend of tumor chronicity[18](index=18&type=chunk)[19](index=19&type=chunk) - The RDC platform has established a full closed-loop R&D system covering molecular design, screening, and preclinical evaluation, focusing on PSMA and FAP targets[19](index=19&type=chunk) - The AI-driven LNP-mRNA platform shows promising prospects in tumor vaccines, offering high specificity, good safety, strong efficacy, and durable immunity[19](index=19&type=chunk) [Financial Performance](index=4&type=section&id=Financial%20Performance) The company's financial performance for the period shows a narrowed comprehensive loss, driven by stable revenue and effective cost control [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company reported revenue of **RMB 209,167 thousand**, gross profit of **RMB 192,907 thousand**, and a total comprehensive loss of **RMB 92,634 thousand**, which narrowed compared to the prior year period Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 209,167 | 206,422 | 2,745 | 1.3% | | Cost of sales | (16,260) | (17,473) | 1,213 | -6.9% | | Gross profit | 192,907 | 188,949 | 3,958 | 2.1% | | Other income and net gains | 17,700 | 22,437 | (4,737) | -21.1% | | Research and development expenses | (83,121) | (85,291) | 2,170 | -2.5% | | Administrative expenses | (29,735) | (43,504) | 13,769 | -31.6% | | Selling and marketing expenses | (111,547) | (110,078) | (1,469) | 1.3% | | Royalty fees | (17,637) | (15,619) | (2,018) | 12.9% | | Other expenses | (55,050) | (61,134) | 6,084 | -9.9% | | Finance costs | (3,303) | (5,063) | 1,760 | -34.8% | | Impairment losses on financial assets | (2,903) | (4,771) | 1,868 | -39.2% | | Loss before tax | (92,689) | (114,074) | 21,385 | -18.7% | | Income tax expense | 55 | – | 55 | N/A | | Total comprehensive loss for the period | (92,634) | (114,074) | 21,440 | -18.8% | [Revenue and Gross Profit Analysis](index=5&type=section&id=Revenue%20and%20Gross%20Profit%20Analysis) During the reporting period, the company's revenue primarily stemmed from Envafolimab® sales, increasing **1.3%** to **RMB 209.2 million**, with gross profit rising **2.1%** to **RMB 192.9 million** and gross margin slightly increasing to **92.2%**, driven by higher sales volume and reduced surcharges - Revenue primarily from Envafolimab® sales, increasing **1.3%** year-on-year to **RMB 209.2 million**[10](index=10&type=chunk)[49](index=49&type=chunk) - Gross profit increased **2.1%** year-on-year to **RMB 192.9 million**, with gross margin slightly rising from **91.5%** to **92.2%**[12](index=12&type=chunk)[51](index=51&type=chunk) - Cost of sales decreased **6.9%** to **RMB 16.3 million**, primarily due to reduced related surcharges and taxes[11](index=11&type=chunk)[50](index=50&type=chunk) [Expense Analysis](index=5&type=section&id=Expense%20Analysis) The company effectively controlled various expenses during the reporting period, with R&D and administrative expenses decreasing, selling and marketing expenses remaining stable, and royalty fees increasing due to higher sales volume [Research and Development Expenses](index=5&type=section&id=Research%20and%20Development%20Expenses) R&D expenses decreased **2.5%** year-on-year to **RMB 83.1 million**, primarily due to reduced employee welfare expenses related to R&D personnel - R&D expenses decreased **2.5%** year-on-year to **RMB 83.1 million**[13](index=13&type=chunk)[53](index=53&type=chunk) - The decrease was primarily attributable to a **RMB 2.6 million** reduction in employee welfare expenses related to R&D personnel[13](index=13&type=chunk)[53](index=53&type=chunk) [Selling and Marketing Expenses](index=6&type=section&id=Selling%20and%20Marketing%20Expenses) Selling and marketing expenses increased **1.3%** year-on-year to **RMB 111.5 million**, primarily due to increased Envafolimab® sales, with the expense ratio remaining stable at **53.3%**, reflecting a mature business model - Selling and marketing expenses increased **1.3%** year-on-year to **RMB 111.5 million**[14](index=14&type=chunk)[55](index=55&type=chunk) - The expense ratio remained stable at **53.3%** in both H1 2024 and H1 2025, indicating a mature business model[14](index=14&type=chunk)[55](index=55&type=chunk) [Administrative Expenses](index=22&type=section&id=Administrative%20Expenses) Administrative expenses significantly decreased **31.6%** year-on-year to **RMB 29.7 million**, primarily due to reductions in share-based payment expenses, legal and professional fees, and depreciation and amortization expenses - Administrative expenses decreased by **RMB 13.8 million** year-on-year to **RMB 29.7 million**[54](index=54&type=chunk) - The decrease was primarily due to a **RMB 1.8 million** reduction in share-based payment expenses, a **RMB 6.8 million** reduction in legal and professional fees, and a **RMB 5.5 million** reduction in depreciation and amortization expenses[54](index=54&type=chunk) [Royalty Fees and Other Expenses](index=23&type=section&id=Royalty%20Fees%20and%20Other%20Expenses) Royalty fees increased **12.9%** year-on-year to **RMB 17.6 million** due to higher Envafolimab® sales, while other expenses primarily included donations and net exchange losses - Royalty fees increased by **RMB 2.0 million** year-on-year to **RMB 17.6 million**, primarily due to increased Envafolimab® sales volume[56](index=56&type=chunk) - Other expenses primarily included donations of **RMB 51.192 million** and net exchange losses of **RMB 3.612 million**[98](index=98&type=chunk) [Loss Performance](index=6&type=section&id=Loss%20Performance) Total comprehensive loss for the period decreased **18.8%** year-on-year to **RMB 92.6 million**, primarily benefiting from increased gross profit due to sales growth and excellent administrative expense control - Total comprehensive loss for the period decreased by **RMB 21.5 million** year-on-year to **RMB 92.6 million**[15](index=15&type=chunk)[57](index=57&type=chunk) - The reduction in loss was primarily attributable to a **RMB 4.0 million** increase in gross profit and **RMB 13.8 million** in administrative expense savings[15](index=15&type=chunk) [Non-IFRS Measures](index=6&type=section&id=Non-IFRS%20Measures) Adjusted total comprehensive loss for the period narrowed to **RMB 72.151 million** from **RMB 97.659 million** in the prior year, supplementing IFRS loss measures by adding back share-based payment expenses Non-IFRS Measures | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total comprehensive loss for the period | (92,634) | (114,074) | 21,440 | -18.8% | | Add: Share-based payment expenses | 20,483 | 16,415 | 4,068 | 24.8% | | Adjusted total comprehensive loss for the period | (72,151) | (97,659) | 25,508 | -26.1% | - Adjusted loss and total comprehensive loss for the period are calculated by adding back share-based payment expenses, aiming to provide a more comprehensive assessment of operating performance[16](index=16&type=chunk)[58](index=58&type=chunk) [Condensed Consolidated Statement of Financial Position](index=24&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets were **RMB 1,141,975 thousand**, a decrease from **RMB 1,216,256 thousand** at year-end 2024, with net current assets declining from **RMB 499,963 thousand** to **RMB 297,712 thousand** Condensed Consolidated Statement of Financial Position | Metric | 2025 June 30 (RMB thousands) | 2024 Dec 31 (RMB thousands) | Change (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total non-current assets | 339,376 | 228,505 | 110,871 | 48.5% | | Total current assets | 802,599 | 987,751 | (185,152) | -18.7% | | Total assets | 1,141,975 | 1,216,256 | (74,281) | -6.1% | | Total non-current liabilities | 5,021 | 24,754 | (19,733) | -79.7% | | Total current liabilities | 504,887 | 487,788 | 17,099 | 3.5% | | Total liabilities | 509,908 | 512,542 | (2,634) | -0.5% | | Net assets | 632,067 | 703,714 | (71,647) | -10.2% | [Liquidity and Cash Flows](index=25&type=section&id=Liquidity%20and%20Cash%20Flows) As of June 30, 2025, total current assets were **RMB 802.6 million**, with cash and bank balances totaling **RMB 615.3 million**, a **RMB 225.7 million** decrease from year-end 2024, primarily due to reduced bank loans and payment for strategic cooperation consideration, resulting in a net cash outflow of **RMB 205.8 million** from operating activities - Total current assets were **RMB 802.6 million**, and cash and bank balances totaled **RMB 615.3 million**, a **RMB 225.7 million** decrease from year-end 2024[61](index=61&type=chunk) - The decrease in cash was primarily due to reduced bank loans resulting from timing differences in loan renewals and payment of strategic cooperation consideration to Qingdao Hainuo[61](index=61&type=chunk) - Net cash used in operating activities was **RMB 205.8 million**, net cash used in investing activities was **RMB 94.3 million**, and net cash used in financing activities was **RMB 75.6 million**[62](index=62&type=chunk) [Product Pipeline and R&D Progress](index=2&type=section&id=Product%20Pipeline%20and%20R%26D%20Progress) The company's product pipeline demonstrates significant progress in commercialization and clinical development, particularly for Envafolimab®, RDC, and AI LNP-mRNA platforms, alongside other promising investigational drugs [Envafolimab®](index=2&type=section&id=Envafolimab%C2%AE) Envafolimab®, China's sole commercialized subcutaneous PD-L1 inhibitor, achieved **RMB 209.2 million** in sales revenue in H1 2025, a **1.3%** year-on-year increase, with clinical research results presented at ASCO and inclusion in 19 authoritative clinical guidelines, marking the full launch of its global commercialization [Commercialization Progress](index=2&type=section&id=Commercialization%20Progress) Envafolimab® achieved **RMB 209.2 million** in sales revenue in H1 2025, a **1.3%** year-on-year increase, with total sales reaching approximately **RMB 1.9 billion**, now sold in over **3,000 hospitals** and **760+ pharmacies** across **30 provinces** and **305 cities** in China, included in **36 city-level "Huiminbao" schemes**, and with a global commercialization strategy initiated through an overseas licensing agreement with Glenmark - Envafolimab® H1 sales revenue reached **RMB 209.2 million**, a **1.3%** year-on-year increase[5](index=5&type=chunk)[20](index=20&type=chunk) - It has been included in **19** latest authoritative Chinese and international clinical guidelines and consensuses[5](index=5&type=chunk)[21](index=21&type=chunk)[29](index=29&type=chunk) - It is sold in over **3,000 hospitals** and **760+ pharmacies** across **30 provinces** and **305 cities** in China, and included in **36 city-level "Huiminbao" schemes**[43](index=43&type=chunk) - An overseas licensing agreement has been reached with Glenmark, fully initiating its global commercialization strategy[21](index=21&type=chunk) [Clinical Research Results](index=2&type=section&id=Clinical%20Research%20Results) Envafolimab® presented **11** research findings at the 2025 ASCO Annual Meeting, covering various tumor types including high tumor mutational burden advanced solid tumors, extensive-stage small cell lung cancer, resectable non-small cell lung cancer, biliary tract cancer, pancreatic cancer, esophageal squamous cell carcinoma, and sarcoma, with both monotherapy and combination regimens demonstrating significant efficacy and good safety - **11** research findings were presented at the ASCO Annual Meeting, covering **7+** tumor types, including high tumor mutational burden advanced solid tumors, small cell lung cancer, and non-small cell lung cancer[5](index=5&type=chunk)[26](index=26&type=chunk) - Monotherapy for advanced solid tumor patients with tTMB≥13 mut/Mb achieved an ORR of **33.3%** and a mDOR of up to **20.2 months**[5](index=5&type=chunk)[26](index=26&type=chunk) - First-line combination with chemotherapy for extensive-stage small cell lung cancer achieved an ORR of **87.1%** and a median OS of **20 months**[5](index=5&type=chunk)[27](index=27&type=chunk) - Neoadjuvant therapy for resectable non-small cell lung cancer achieved an MPR of **40%** and a pCR of **20%**, with the added convenience of subcutaneous administration[7](index=7&type=chunk)[27](index=27&type=chunk) - Combination with recombinant human endostatin and chemotherapy for advanced squamous non-small cell lung cancer achieved an ORR of **65.4%** and a median OS of **24.6 months**[7](index=7&type=chunk)[28](index=28&type=chunk) [Guideline Recommendations](index=13&type=section&id=Guideline%20Recommendations) As of June 2025, Envafolimab® has received recommendations in **19** latest authoritative domestic and international clinical guidelines and expert consensuses, covering various cancer types including cervical, uterine, ovarian, gastric, colorectal, lung, and esophageal cancers, further solidifying its clinical position - Envafolimab® has been recommended in **19** latest authoritative domestic and international clinical guidelines and expert consensuses[29](index=29&type=chunk) - Recommendations include NCCN guidelines (cervical cancer, uterine tumors, ovarian cancer) and CSCO guidelines (endometrial cancer, cervical cancer, ovarian cancer, immune checkpoint inhibitors, gastric cancer, colorectal cancer, lung cancer, esophageal cancer, etc)[29](index=29&type=chunk) [Radioligand Drug Conjugate (RDC) Platform](index=3&type=section&id=Radioligand%20Drug%20Conjugate%20(RDC)%20Platform) The company has established a comprehensive RDC platform covering molecular design, screening, and preclinical evaluation, focusing on PSMA and FAP targets, with its first self-developed **177Lu-labeled PSMA-targeted RDC drug 3D1015** entering investigator-initiated trial (IIT) phase, demonstrating significant differentiated advantages and excellent safety in preclinical studies - A complete platform covering RDC molecular design, screening, and preclinical evaluation has been established, forming a full closed-loop R&D system[6](index=6&type=chunk)[19](index=19&type=chunk) - Radionuclide selection covers **⁶⁸Ga**, **¹⁷⁷Lu**, and **²²⁵Ac**, with a focus on developing PSMA and FAP targets[6](index=6&type=chunk)[19](index=19&type=chunk) - The first self-developed **¹⁷⁷Lu-labeled PSMA-targeted RDC drug 3D1015** has entered the IIT phase, with preclinical studies showing significant tumor inhibition even at one-tenth the dose of Pluvicto[6](index=6&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) - A FAP-targeted ligand demonstrated excellent binding affinity in in vitro experiments and is currently undergoing preclinical evaluation[6](index=6&type=chunk) [AI LNP-mRNA Platform](index=4&type=section&id=AI%20LNP-mRNA%20Platform) The company has successfully localized its AI-mRNA technology platform, possessing full intellectual property rights and global commercialization rights, with its first off-the-shelf tumor vaccine **3D124** (based on the self-developed "3D-PreciseAg" platform and 3D-B051-LNP delivery system) planned for IND submission in Q1 2026, and multiple innovative therapies for hematological and solid tumors under development - Successfully localized the AI-mRNA technology platform, possessing full intellectual property rights and global commercialization rights[8](index=8&type=chunk) - The first off-the-shelf tumor vaccine **3D124** (targeting multiple tumor antigens such as KRAS, NRAS, EGFR) is planned for IND submission in Q1 2026[8](index=8&type=chunk)[33](index=33&type=chunk)[34](index=34&type=chunk) - The self-developed LNP delivery system (**3D-B051-LNP**) has filed a PCT international patent application and is highly effective in inducing cellular and humoral immune responses[23](index=23&type=chunk)[34](index=34&type=chunk) - The pipeline also includes the **3D125** tumor vaccine for small cell lung cancer and in vivo CAR-T projects based on mRNA technology[8](index=8&type=chunk) [Other Pipeline Products](index=14&type=section&id=Other%20Pipeline%20Products) Other pipeline products include **3D185** (FGFR1/2/3 inhibitor) with smooth Phase I trial progress, **3D189** (WT1 peptide vaccine) with Phase I recruitment completed and positive IDMC evaluation for its global Phase III multicenter clinical study, as well as **3D057** (PD-L1 and CD3 bispecific antibody) and **3D062** (KRAS mutation inhibitor) - **3D185** (FGFR1/2/3 inhibitor) Phase I clinical trial is progressing smoothly, aiming to evaluate safety, tolerability, pharmacokinetics, and preliminary efficacy[30](index=30&type=chunk) - **3D189** (WT1 peptide vaccine) Phase I clinical study completed patient enrollment in China, with no new safety signals observed and WT1-specific immune responses noted[31](index=31&type=chunk) - The global Phase III REGAL trial of **3D189** (in collaboration with SELLAS) has received four positive evaluations from the Independent Data Monitoring Committee (IDMC), supporting its continued advancement[31](index=31&type=chunk) - **3D057**, a PD-L1 and CD3 bispecific antibody developed based on the ALiCE platform, is steadily advancing in non-clinical studies[35](index=35&type=chunk) - **3D062**, an internally developed KRAS mutation inhibitor, has filed a new Chinese patent application[35](index=35&type=chunk) [Operations and Management](index=16&type=section&id=Operations%20and%20Management) The company demonstrates robust operational and management capabilities, supported by strong R&D platforms, global GMP-compliant production, patient-centric commercialization strategies, extensive intellectual property, and a dedicated workforce [R&D Capabilities and Platforms](index=17&type=section&id=R%26D%20Capabilities%20and%20Platforms) The company possesses an experienced management team and robust R&D platforms, encompassing large and small molecule drug development, cell line screening, compound screening, and newly established LNP key component synthesis and screening platforms, supporting tumor neoantigen vaccine development with its proprietary 3D-PreciseAg antigen prediction system and nucleic acid drug R&D system, while actively exploring new combinations of TCE bispecific antibodies/bispecific antibody-ADCs - Possesses an experienced management team and strong molecular design and screening capabilities, enhancing drug development success rates[37](index=37&type=chunk) - The R&D center covers large molecule, small molecule drug R&D platforms, cell line screening platforms, and compound screening platforms[37](index=37&type=chunk) - A new LNP key component ionizable cationic lipid synthesis and screening platform has been established to support nucleic acid drug pipeline development[37](index=37&type=chunk) - Independently developed the 3D-PreciseAg antigen prediction system, combined with the LNP delivery system, laying the foundation for tumor vaccine development[37](index=37&type=chunk) - Actively exploring new combinations of TCE bispecific antibodies/bispecific antibody-ADCs and novel administration routes such as high-concentration formulation robotic capsule oral delivery[38](index=38&type=chunk) [Production and Quality Management](index=18&type=section&id=Production%20and%20Quality%20Management) The company is constructing internal production facilities in Xuzhou, Jiangsu, compliant with global GMP standards, and collaborates with CMOs for manufacturing, having established a full-process quality management system covering non-clinical development, clinical research, and commercial production, and obtained NMPA approval to expand Envafolimab® injection capacity - Constructing internal production facilities in Xuzhou, Jiangsu, compliant with FDA, EMA, and China NMPA GMP standards[40](index=40&type=chunk) - Collaborating with qualified CMOs for preclinical and clinical supply manufacturing, and plans to continue outsourcing commercial-scale production[40](index=40&type=chunk) - A full-process quality management system centered on GLP, GCP, and GMP has been established to ensure compliance with international and domestic regulatory standards[41](index=41&type=chunk) - The production capacity for Envafolimab® injection received formal approval for expansion from the NMPA in H1 2025[42](index=42&type=chunk) [Commercialization Strategy](index=19&type=section&id=Commercialization%20Strategy) The company is committed to accelerating Envafolimab®'s commercialization through patient-centric marketing strategies and academic promotion activities, having established a professional sales and marketing department and actively conducting pre-launch preparations for upcoming commercial products - Committed to accelerating Envafolimab® commercialization through patient-centric marketing strategies and academic promotion activities[43](index=43&type=chunk) - A professional sales and marketing department has been established, responsible for product positioning, market strategy, promotional activity planning, and patient assistance[43](index=43&type=chunk) - Actively conducting pre-launch preparations for upcoming commercial products[44](index=44&type=chunk) [Intellectual Property](index=19&type=section&id=Intellectual%20Property) The company holds an extensive patent portfolio, including **13** granted patents in China, **24** granted patents in other jurisdictions, and **19** pending patent applications, protecting its products, drug candidates, and technologies - Possesses an extensive patent portfolio, including **13** granted patents in China and **24** granted patents overseas[45](index=45&type=chunk) - Holds **19** pending patent applications, including **12** in China and **7** in other jurisdictions[45](index=45&type=chunk) [Employees and Remuneration](index=26&type=section&id=Employees%20and%20Remuneration) As of June 30, 2025, the company had **183** full-time employees, with total employee welfare expenses of approximately **RMB 63.4 million**, emphasizing recruitment, continuous training, and performance evaluation in compliance with Chinese labor laws - As of June 30, 2025, the Group had **183** full-time employees[66](index=66&type=chunk) - Total employee welfare expenses were approximately **RMB 63.4 million**, including salaries, social insurance, benefits, and share-based awards[66](index=66&type=chunk) - The company recruits employees based on work experience, educational background, etc., and provides continuous education and training programs[66](index=66&type=chunk) [Future Outlook and Strategy](index=26&type=section&id=Future%20Outlook%20and%20Strategy) The company is committed to sustainable growth and global innovation, accelerating product development and commercialization, enhancing operational efficiency, and expanding Envafolimab®'s global value through strategic partnerships [Future Plans](index=26&type=section&id=Future%20Plans) The company will continue to pursue sustainable growth and global innovation strategic goals, accelerating product development and commercialization, enhancing operational efficiency, continuously producing diversified innovative drugs through AI+mRNA and nuclear medicine technology platforms, and expanding Envafolimab®'s global commercial value with partners - Committed to achieving sustainable growth and global innovation strategic goals, accelerating product development and commercialization, and enhancing operational efficiency[67](index=67&type=chunk) - The AI+mRNA platform will continue to generate diversified mRNA drugs and proprietary LNP libraries[69](index=69&type=chunk) - The nuclear medicine technology platform will meticulously develop first-generation beta-radionuclide nuclear medicine products and explore effective products with different radionuclides[69](index=69&type=chunk) - Will expand Envafolimab®'s development and commercialization into new markets with partners, maximizing product commercial value through further clinical studies[68](index=68&type=chunk)[69](index=69&type=chunk) [Post-Reporting Period Events](index=27&type=section&id=Post-Reporting%20Period%20Events) Post-reporting period, the company signed a strategic cooperation agreement with Qingdao Hainuo, paying **RMB 98.0 million** to unfreeze bank accounts and withdraw lawsuits, and plans to acquire Qingdao Hainuo's equity in 3D Medicines Shanghai Co., Ltd. within **5 years**, additionally entering a strategic cooperation framework agreement with Kaituo Bio to deepen mRNA collaboration - Signed a strategic cooperation agreement with Qingdao Hainuo, paying **RMB 98.0 million** consideration to lift preservation orders and withdraw lawsuits[69](index=69&type=chunk) - Plans to acquire Qingdao Hainuo's equity in 3D Medicines Shanghai Co., Ltd. within **5 years**, with the paid consideration to be offset against the equity acquisition price[70](index=70&type=chunk) - Entered into a strategic cooperation framework agreement with Kaituo Bio, deepening collaboration in targeted LNP delivery, tumor vaccines, and in vivo CAR-T/NK based on the AI+mRNA R&D platform and LNP delivery system[71](index=71&type=chunk) [Capital Utilization and Corporate Governance](index=28&type=section&id=Capital%20Utilization%20and%20Corporate%20Governance) This section details the company's capital allocation from its listing and 2023 placing, its dividend policy, and adherence to high corporate governance standards, including board structure and securities trading codes [Use of Net Proceeds from Listing](index=28&type=section&id=Use%20of%20Net%20Proceeds%20from%20Listing) As of June 30, 2025, total net proceeds from the global offering amounted to **RMB 232,927.9 thousand**, with the majority allocated to R&D, regulatory filings, and commercialization of products and drug candidates, as well as general corporate and working capital purposes Use of Net Proceeds from Listing | Intended Use | Percentage of Total Proceeds (%) | Total Net Proceeds (RMB thousands) | Amount Utilized (RMB thousands) | Unutilized Amount (RMB thousands) | Expected Timeline | | :--- | :--- | :--- | :--- | :--- | :--- | | R&D, regulatory filings, and commercialization of products and drug candidates | 90 | 209,635.1 | 179,991.0 | 29,644.1 | December 2025 | | (i) Envafolimab® | 55 | 128,110.3 | 128,110.3 | – | N/A | | (ii) Other drug candidates | 25 | 58,232.0 | 47,440.9 | 10,791.1 | December 2025 | | (iii) Construction of Xuzhou production facility and procurement of new equipment | 10 | 23,292.8 | 4,439.8 | 18,853.0 | December 2025 | | General corporate and working capital purposes | 10 | 23,292.8 | 23,292.8 | – | N/A | | **Total** | **100** | **232,927.9** | **203,283.8** | **29,644.1** | | [Use of Net Proceeds from 2023 Placing](index=29&type=section&id=Use%20of%20Net%20Proceeds%20from%202023%20Placing) Net proceeds of approximately **RMB 207,372.9 thousand** from the 2023 placing were primarily used for clinical trials evaluating Envafolimab® monotherapy, perioperative treatment for non-small cell lung cancer, construction of the Xuzhou production facility, and general corporate working capital Use of Net Proceeds from 2023 Placing | Intended Use | Percentage of Proceeds (%) | Total Net Proceeds (RMB thousands) | Amount Utilized (RMB thousands) | Unutilized Amount (RMB thousands) | Expected Timeline | | :--- | :--- | :--- | :--- | :--- | :--- | | Planned clinical trials evaluating Envafolimab® monotherapy | 50 | 103,686.4 | 3,721.7 | 3,964.8 | December 2025 | | Planned clinical trials for perioperative treatment of non-small cell lung cancer | – | – | 4,804.7 | 91,195.3 | December 2026 | | Construction of Xuzhou production facility buildings and equipment procurement | 40 | 82,949.2 | – | 82,949.2 | December 2025 | | General corporate working capital purposes | 10 | 20,737.3 | 20,737.3 | – | N/A | | **Total** | **100** | **207,372.9** | **29,263.6** | **178,109.2** | | [Dividend Policy](index=30&type=section&id=Dividend%20Policy) The Board does not recommend an interim dividend for the six months ended June 30, 2025, as the company expects to retain all future earnings for business operations and expansion, currently having no dividend policy - The Board does not recommend an interim dividend for the six months ended June 30, 2025[75](index=75&type=chunk) - The company expects to retain all future earnings for business operations and expansion, currently having no dividend policy[78](index=78&type=chunk) [Corporate Governance](index=30&type=section&id=Corporate%20Governance) The company is committed to maintaining high corporate governance standards, having adopted the Corporate Governance Code in Appendix C1 of the Listing Rules, with Dr. Gong Zhaolong serving as both Chairman and CEO, a structure the Board believes ensures consistent leadership with sufficient checks and balances - The company has adopted the Corporate Governance Code as set out in Appendix C1 of the Listing Rules[76](index=76&type=chunk) - Dr. Gong Zhaolong serves as both the Chairman of the Board and Chief Executive Officer, a structure the Board believes ensures consistent leadership with sufficient checks and balances[76](index=76&type=chunk)[77](index=77&type=chunk) [Standard Securities Trading Code](index=31&type=section&id=Standard%20Securities%20Trading%20Code) The company has adopted the Standard Code as set out in Appendix C3 of the Listing Rules as the code of conduct for directors' securities transactions, requiring compliance from employees who may possess inside information, with all directors confirming adherence during the reporting period - The company has adopted the Standard Code as set out in Appendix C3 of the Listing Rules as the code of conduct for directors' securities transactions[79](index=79&type=chunk) - All directors confirmed compliance with the Standard Code during the reporting period[79](index=79&type=chunk) - Employees who may possess unpublished inside information are also required to comply with the Standard Code[80](index=80&type=chunk) [Interim Results Review](index=31&type=section&id=Interim%20Results%20Review) The Review Committee has reviewed the Group's unaudited condensed consolidated interim financial information for the six months ended June 30, 2025, confirming its compliance with applicable accounting principles and disclosure requirements, with external auditor Modern Assurance CPA Limited also conducting an independent review and confirming compliance with IAS 34 - The Review Committee has reviewed the interim financial information, confirming compliance with applicable accounting principles, standards, and disclosure requirements[82](index=82&type=chunk) - External auditor Modern Assurance CPA Limited has conducted an independent review, confirming that the financial information complies with IAS 34[82](index=82&type=chunk) [Notes to the Financial Statements](index=35&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed notes to the financial statements, covering company information, accounting policy changes, operating segment data, revenue breakdown, expense details, loss before tax, income tax, dividends, loss per share, and trade receivables/payables [Company Information and Basis of Preparation](index=35&type=section&id=Company%20Information%20and%20Basis%20of%20Preparation) 3D Medicines Inc. was incorporated in the Cayman Islands on January 30, 2018, primarily engaged in pharmaceutical R&D and commercialization, with interim condensed financial information prepared in accordance with IAS 34 and to be read in conjunction with the 2024 annual consolidated financial statements - The company was incorporated in the Cayman Islands on January 30, 2018, primarily engaged in pharmaceutical R&D and commercialization[87](index=87&type=chunk) - The interim condensed financial information has been prepared in accordance with IAS 34 "Interim Financial Reporting"[88](index=88&type=chunk) [Changes in Accounting Policies and Disclosures](index=35&type=section&id=Changes%20in%20Accounting%20Policies%20and%20Disclosures) The accounting policies adopted for the preparation of the interim condensed consolidated financial statements are consistent with those in the 2024 annual consolidated financial statements, with only the initial adoption of new and amended IFRS standards, which had no significant impact on the current period's financial position and performance - Accounting policies are consistent with the 2024 annual consolidated financial statements, with only the initial adoption of new and amended IFRS standards[89](index=89&type=chunk) - The new and amended IFRS standards had no significant impact on the Group's financial position and performance for the current and prior years[90](index=90&type=chunk) [Operating Segment Information](index=35&type=section&id=Operating%20Segment%20Information) The Group is engaged in biopharmaceutical R&D and commercialization, considered a single reportable segment, with all revenue derived from customers in mainland China and almost all non-current assets located in mainland China, thus no geographical information is presented - The Group is engaged in biopharmaceutical R&D and commercialization, considered a single reportable segment[91](index=91&type=chunk) - All revenue is derived from customers in mainland China, and almost all non-current assets are located in mainland China[92](index=92&type=chunk) Major Customers | Major Customers | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Customer A | 83,622 | 86,014 | | Customer B | 27,450 | 28,748 | | Customer C | N/A* | 24,968 | *For the six months ended June 30, 2025, the amount was less than 10% of the Group's revenue [Revenue, Other Income and Net Gains](index=36&type=section&id=Revenue%2C%20Other%20Income%20and%20Net%20Gains) Revenue primarily from product sales totaled **RMB 209,167 thousand** in H1 2025, while other income and net gains amounted to **RMB 17,700 thousand**, a year-on-year decrease mainly due to reduced interest income and fair value gains on financial assets at fair value through profit or loss Revenue Source | Revenue Source | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Sales of products | 209,167 | 206,422 | Other Income and Net Gains | Other Income and Net Gains | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Government grants | 4,458 | 1,136 | | Interest income | 3,757 | 6,145 | | Investment income from other investments classified as financial assets at amortized cost | 7,083 | 7,052 | | Subtotal of other income | 15,531 | 14,333 | | Fair value gains on other investments classified as financial assets at fair value through profit or loss | 2,169 | 3,520 | | Subtotal of net gains | 2,169 | 8,104 | | **Total** | **17,700** | **22,437** | - The decrease in other income and net gains was primarily due to a **RMB 2.4 million** reduction in interest income and a **RMB 1.4 million** reduction in fair value gains on other investments classified as financial assets at FVTPL[52](index=52&type=chunk) [Other Expenses](index=38&type=section&id=Other%20Expenses) Other expenses primarily comprised donations of **RMB 51,192 thousand** and net exchange losses of **RMB 3,612 thousand**, totaling **RMB 55,050 thousand** Other Expense Items | Other Expense Items | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Donations | 51,192 | 61,134 | | Net exchange losses | 3,612 | – | | Others | 246 | – | | **Total** | **55,050** | **61,134** | [Loss Before Tax](index=38&type=section&id=Loss%20Before%20Tax) The Group's loss before tax was calculated after deducting marketing service fees, royalty fees, cost of sales of inventories, and impairment losses on financial assets, and including fair value gains on other investments classified as financial assets at fair value through profit or loss Loss Before Tax Items | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Marketing service fees | 99,190 | 89,528 | | Royalty fees | 17,637 | 15,619 | | Cost of sales of inventories | 16,260 | 17,473 | | Impairment losses on financial assets | 2,903 | 4,771 | | Fair value gains on other investments classified as financial assets at fair value through profit or loss | (2,169) | (3,520) | [Income Tax](index=38&type=section&id=Income%20Tax) Income tax expense amounted to **RMB 55 thousand**, representing over-provision of income tax expense in prior years - Income tax expense was **RMB 55 thousand**, representing over-provision of income tax expense in prior years[100](index=100&type=chunk) [Dividends](index=38&type=section&id=Dividends) The company neither declared nor paid any dividends for the six months ended June 30, 2025 - The company neither declared nor paid any dividends for the six months ended June 30, 2025[101](index=101&type=chunk) [Loss Per Share Attributable to Owners of the Parent](index=38&type=section&id=Loss%20Per%20Share%20Attributable%20to%20Owners%20of%20the%20Parent) For the six months ended June 30, 2025, basic and diluted loss per share attributable to owners of the parent was **RMB 0.36**, an improvement from **RMB 0.42** in the prior year period Loss Per Share Attributable to Owners of the Parent | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Loss attributable to owners of the parent used in calculating basic loss per share | (89,350) | (103,509) | | Weighted average number of ordinary shares in issue (thousands) used in calculating basic loss per share | 245,087 | 245,049 | | Loss per share (basic and diluted) (RMB) | (0.36) | (0.42) | - No diluted adjustment was made to the basic loss per share amount due to the anti-dilutive effect of preference shares and restricted share units[102](index=102&type=chunk) [Trade Receivables](index=39&type=section&id=Trade%20Receivables) As of June 30, 2025, total trade receivables amounted to **RMB 95,624 thousand**, all within **3 months** aging Trade Receivables Aging | Aging | 2025 June 30 (RMB thousands) | 2024 Dec 31 (RMB thousands) | | :--- | :--- | :--- | | Within 3 months | 95,624 | 47,862 | [Restricted Bank Balances](index=40&type=section&id=Restricted%20Bank%20Balances) As of June 30, 2025, restricted bank balances were **RMB 168,216 thousand**, with all bank account preservation orders lifted post-reporting period following the resolution of the dispute with Qingdao Hainuo - As of June 30, 2025, restricted bank balances amounted to **RMB 168,216 thousand**[85](index=85&type=chunk) - Post-reporting period, the civil lawsuit between the company and Qingdao Hainuo was withdrawn, and all bank account preservation orders were lifted[106](index=106&type=chunk)[108](index=108&type=chunk) [Trade Payables](index=40&type=section&id=Trade%20Payables) As of June 30, 2025, total trade payables amounted to **RMB 52,558 thousand**, with a significant portion of balances aged over **1 year** Trade Payables Aging | Aging | 2025 June 30 (RMB thousands) | 2024 Dec 31 (RMB thousands) | | :--- | :--- | :--- | | Within 3 months | 2,673 | 1,217 | | 3 to 6 months | 706 | 840 | | 6 months to 1 year | 1,341 | 25,891 | | Over 1 year | 47,838 | 23,183 | | **Total** | **52,558** | **51,131** | [Definitions and Glossary](index=41&type=section&id=Definitions%20and%20Glossary) This section defines key terms and abbreviations used throughout the interim results announcement, encompassing company products, regulatory bodies, financial metrics, and clinical trial types for enhanced reader understanding [Definitions and Glossary](index=41&type=section&id=Definitions%20and%20Glossary) This section defines key terms and abbreviations used throughout the interim results announcement, encompassing company products, regulatory bodies, financial metrics, and clinical trial types for enhanced reader understanding - Provides definitions for key terms such as "Envafolimab®," "AML," "FDA," "GMP," "IND," "PD-L1," and "R&D"[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk)

Major Events - Sihuan Pharmaceutical Holdings Group Ltd. successfully administered the first human dose of the new radiopharmaceutical conjugate drug 3D1015 [1] - Shenzhen International's joint venture Shenzhen Airlines plans to raise a total of 16 billion yuan in a phased capital increase [1] - Kangzheng Pharmaceutical received clinical trial approval for its innovative oral small molecule JAK1 inhibitor Povorcitinib for indications of vitiligo and suppurative hidradenitis [1] - Ruihe Digital signed a framework agreement with Tielin Superlight Technology to jointly advance the business of real-world asset tokenization [1] - Zhongxu Future will operate and launch a new mobile game "Miracle MU" titled "New Moon Continent" [1] Financial Performance - Noah Holdings reported a net profit attributable to shareholders of 179 million yuan for Q2, a year-on-year increase of 79% driven by strong growth in investment product distribution [1] - Trip.com Group reported a net profit of 4.846 billion yuan for Q2, an increase of 26.43% year-on-year [1] - Shijiazhuang Pharmaceutical Group announced a mid-year profit attributable to equity holders of approximately 283.5 million HKD, a year-on-year decrease of about 58.7% [1] - Zhongsheng Holdings reported a mid-year profit attributable to shareholders of 1.011 billion yuan, a decrease of 36% year-on-year [1] - SF Express City reported an adjusted net profit of approximately 160 million yuan, a year-on-year increase of 139% [1] - Baidu's subsidiary reported a mid-year profit attributable to shareholders of 47.999 million yuan, returning to profitability [1] - Li Auto reported a net profit of 1.093 billion yuan for Q2, a decrease of 0.91% year-on-year [1] - Shanghai Industrial Holdings reported a mid-year profit attributable to shareholders of 1.042 billion HKD, with an interim dividend of 0.42 HKD per share [1] - Beijing Holdings reported a mid-year profit attributable to shareholders of 3.404 billion yuan, an increase of 8.07% year-on-year [1] - Qingdao Port reported a net profit of 2.842 billion yuan, a year-on-year increase of 7.58% [1] - New China Life Insurance reported a net profit of 14.799 billion yuan, a year-on-year increase of 33.5% [1] - China Galaxy Securities reported a net profit of 6.488 billion yuan, a year-on-year increase of 47.86% [1] - China Taiping reported a 12.2% increase in shareholder profit, with a nearly 23% high growth in life insurance new business value [1] - China Resources Gas reported a mid-year profit attributable to shareholders of 2.403 billion HKD, a year-on-year decrease of 30.5% [1] - SF Holding reported a net profit of 5.738 billion yuan, a year-on-year increase of 19.37%, with volume growth exceeding the overall express delivery industry [1] - SMIC reported a net profit of approximately 320 million USD, a year-on-year increase of 35.6% [1] - SenseTime reported a revenue growth of 35.6% year-on-year, reaching 2.358 billion yuan [1] - BeiGene reported a net profit of 95.59 million USD, returning to profitability [1] - Fubo Group reported a mid-year net profit exceeding 100 million, driven by AI [1] - CITIC Securities reported a net profit of 13.719 billion yuan, a year-on-year increase of 29.79% [1] - Huadian International Power reported a net profit of 3.904 billion yuan, a year-on-year increase of 13.15% [1] Additional Financial Performance - Zhou Hei Ya reported a mid-year profit attributable to shareholders of 108 million yuan, a year-on-year increase of 228% [2] - Haitian Flavoring reported a net profit of 3.91 billion yuan, a year-on-year increase of 13.3% [2] - Dasheng Holdings reported a mid-year adjusted net profit growth of 79.6% driven by store expansion and membership growth [2] - CITIC Securities reported a net profit of 4.509 billion yuan, a year-on-year increase of 57.77% [2] - Huitongda reported a mid-year profit attributable to shareholders of 13.9 million yuan, a year-on-year increase of 10.81% [2] - Yunfeng Financial reported a mid-year profit attributable to shareholders of 486 million HKD, a year-on-year increase of 142.04% [2] - Jiufang Zhitu reported a mid-year profit attributable to shareholders of 865 million yuan, returning to profitability [2] - Air China reported a net loss of approximately 1.806 billion yuan, a year-on-year narrowing of 35.11% [2] - ZTE reported a net profit of approximately 5.058 billion yuan, a year-on-year decrease of 11.77% [2] - China Merchants Securities reported a net profit of 5.186 billion yuan, a year-on-year increase of 9.23% [2] - Datang Power reported a net profit of approximately 4.874 billion yuan, a year-on-year increase of 50.3% [2] - China Pacific Insurance reported a net profit of 27.885 billion yuan, a year-on-year increase of 11% [2] - Beijing Capital International Airport reported a post-tax loss of 164 million yuan, a year-on-year narrowing of 56.48% [2] - Dongguan Rural Commercial Bank reported a mid-year net profit of 2.629 billion yuan [2] - Shenzhen Holdings reported a mid-year loss attributable to shareholders of 2.618 billion HKD, a year-on-year increase of 137.76% [2] - China Southern Airlines reported a net loss of 1.534 billion yuan, a year-on-year increase of 45.54% [2] - COSCO Shipping Holdings reported a profit attributable to shareholders of 17.528 billion yuan, a year-on-year increase of 3.9% [2] - Guofu Hydrogen Energy reported revenue of 10.9 million yuan, actively expanding overseas cooperation and business layout [2] - Kangsheng Global reported a mid-year gross profit of 197 million yuan, with stable progress across all businesses [2] - Dongfang Electric reported a net profit of 1.91 billion yuan, a year-on-year increase of 12.91%, maintaining the industry's leading market share in nuclear and gas power [2] - Eagle Eye Technology reported a profit of 443,000 yuan, returning to profitability [2] - Haier Smart Home reported a profit attributable to shareholders of 12.033 billion yuan, a year-on-year increase of 15.6% [2] - EDA Group Holdings reached a partnership agreement with UTCPAY to collaborate in digital asset trading, Web3 technology, and blockchain applications [2] - Gilead Sciences reported that ASC30 oral tablets showed good and differentiated pharmacokinetic characteristics in the U.S. Phase Ib multi-dose escalation study [2]

Performance Summary - SF Holding reported a revenue of 146.858 billion yuan, a year-on-year increase of 9.26%, and a net profit of 5.738 billion yuan, up 19.37% year-on-year [2] - Shanghai Pharmaceuticals achieved a revenue of 141.593 billion yuan, a growth of 1.56%, with a net profit of 4.459 billion yuan, increasing by 51.56% [2] - New China Life Insurance's revenue reached 69.429 billion yuan, a 25.5% increase, and a net profit of 14.799 billion yuan, up 33.5% [2] - Huadian International Power's revenue was 59.953 billion yuan, down 8.98%, while net profit increased by 13.15% to 3.904 billion yuan [2] - China Pacific Insurance reported a revenue of 55.964 billion yuan, a slight increase of 0.2%, and a net profit of 6.764 billion yuan, up 12.2% [2] - CITIC Securities had a revenue of 46.552 billion yuan, a 16.28% increase, and a net profit of 13.719 billion yuan, up 29.79% [2] - Beijing Enterprises Holdings reported a revenue of 44.529 billion yuan, a 5.2% increase, and a net profit of 3.404 billion yuan, up 8.1% [2] - Li Auto's vehicle sales revenue for Q2 2025 was 28.9 billion yuan, down 4.7%, with a net profit of 1.093 billion yuan, a decrease of 0.9% [2] - Huishang Bank reported a revenue of 21.157 billion yuan, a 2.25% increase, and a net profit of 9.109 billion yuan, up 5.55% [2] - SMIC achieved a revenue of 4.456 billion USD, a 22% increase, with a net profit of 320 million USD, up 35.6% [2] - China Galaxy Securities reported a total revenue of 18.798 billion yuan, an 18.92% increase, and a net profit of 6.488 billion yuan, up 47.86% [2] - Zhongjun Group Holdings had a revenue of 18.521 billion yuan, down 25.4%, with a net loss of 3.48 billion yuan, a narrowing of 5.5% [2] - BeiGene reported a revenue of 2.433 billion USD, a 44.7% increase, and a net profit of 95.59 million USD, turning from a loss of 372 million USD [2] - SF Express City reported a revenue of 10.236 billion yuan, up 48.8%, and a net profit of 137 million yuan, up 120.4% [2] - China Shipbuilding Defense reported a revenue of 10.173 billion yuan, a 16.54% increase, and a net profit of 526 million yuan, up 258.46% [2] - Qingdao Port reported a revenue of 9.434 billion yuan, a 4.04% increase, and a net profit of 2.842 billion yuan, up 7.58% [2] - Shanghai Industrial Holdings reported a revenue of 9.476 billion yuan, down 8.6%, and a net profit of 1.042 billion yuan, down 13.2% [2] - Everbright Securities reported a revenue of 7.481 billion yuan, a 17.7% increase, and a net profit of 1.683 billion yuan, up 21% [2] - Baozun reported a revenue of 4.617 billion yuan, a 5.63% increase, with a net loss of 97.04 million yuan, narrowing [2] - Sichuan Chengyu Expressway reported a revenue of 4.08 billion yuan, down 23.3%, and a net profit of 838 million yuan, up 20.1% [2] - Baideli Holdings reported a revenue of approximately 3.813 billion yuan, down 10.9%, and a net profit of 7.1 million yuan, down 79.1% [2] - Tigermed reported a revenue of 3.25 billion yuan, down 3.21%, and a net profit of 383 million yuan, down 22.22% [2] - Zhengli New Energy reported a revenue of 3.172 billion yuan, a 71.9% increase, and a net profit of 220 million yuan, turning from a loss of 130 million yuan [2] - Sensong International reported a revenue of 2.687 billion yuan, down 22.7%, and a net profit of 338 million yuan, down 10.15% [2] - Dasheng Holdings reported a revenue of approximately 2.593 billion yuan, a 27% increase, and a net profit of 65.924 million yuan, up 504.4% [2] - SenseTime reported a revenue of 2.358 billion yuan, a 35.6% increase, with a gross profit of 908 million yuan, up 18.4%, and an adjusted net loss of 1.162 billion yuan, narrowing by 50% [2] - Ruian Real Estate reported a revenue of 2.074 billion yuan, flat year-on-year, with a net profit of 51 million yuan, down 29.2% [2] - Shangri-La Asia reported a revenue of 1.056 billion USD, a 0.7% increase, and a net profit of 57.9 million USD, down 38.7% [2] - Quanfeng Holdings reported a revenue of 912 million USD, an 11.9% increase, and a net profit of 95.217 million USD, up 54.8% [2] - COSCO Shipping Ports reported a revenue of 806 million USD, a 13.6% increase, and a net profit of approximately 182 million USD, up 30.6% [2] - Tianjin Development reported a revenue of 1.719 billion yuan, down 5.59%, and a net profit of 344 million yuan, up 19.57% [2] Company News - Sillodic Pharmaceuticals successfully administered the new radiolabeled drug 3D1015 to patients with PSMA-positive metastatic castration-resistant prostate cancer, demonstrating safety and preliminary efficacy [2] - Shoucheng Holdings signed a strategic cooperation framework agreement with Alter and Alrite to jointly promote breakthroughs in robotics technology, scene implementation, and industrial chain collaboration [2]

Core Viewpoint - The company has successfully administered the first dose of its self-developed radiolabeled drug, 177Lu-PSMA-3D1015 (3D1015), to a patient, marking a significant milestone in its clinical research for treating PSMA-positive metastatic castration-resistant prostate cancer (mCRPC) [1] Group 1: Clinical Research Focus - The study specifically targets patients with PSMA-positive metastatic castration-resistant prostate cancer (mCRPC) [1] - The research will systematically evaluate the core clinical value of 3D1015, focusing on the drug's safety and radiation dosimetry assessment [1] - The study aims to collect in-depth pharmacokinetic characteristics and dose exploration data of the drug in humans, providing direct clinical evidence for dose determination and risk control in subsequent registration clinical trials [1]

Core Viewpoint - The company has successfully administered its first self-developed radiopharmaceutical drug, 177Lu-PSMA-3D1015 (3D1015), to a patient, marking a significant milestone in its clinical research for treating PSMA-positive metastatic castration-resistant prostate cancer (mCRPC) [1] Group 1: Clinical Research - The study focuses on evaluating the safety and preliminary efficacy of 3D1015 in patients with PSMA-positive mCRPC [1] - The research aims to systematically assess the core clinical value of 3D1015, emphasizing drug safety and dosimetry evaluation [1] - The study will collect in-depth pharmacokinetic characteristics and dose exploration data to provide direct clinical evidence for dose determination and risk control in subsequent registration clinical trials [1]