Policy Developments - Guangzhou's "Sui Xin Bao" has added 60 innovative drugs and 6 hospitals, enhancing its coverage to include local innovative drugs and those not covered by medical insurance [1] - Shandong Province has implemented a funding management method to support the consistency evaluation of generic drug quality and efficacy, offering up to 2 million yuan for qualifying products [2] Drug Approvals - Sanofi's covalent inhibitor Wayrilz (rilzabrutinib) has been approved by the FDA for treating adult patients with immune thrombocytopenia (ITP) [3] - Heng Rui Medicine's new drug Zemeituosita tablets has been approved, marking it as the first domestic EZH2 inhibitor for treating relapsed or refractory peripheral T-cell lymphoma [4] Financial Reports - Shanghai Laishi reported a revenue of 3.952 billion yuan for the first half of 2025, a decrease of 7.06%, with a net profit of 1.03 billion yuan, down 17% [5] - Beijing Tongrentang achieved a revenue of 9.769 billion yuan in the first half of 2025, with a net profit of 945 million yuan, a decrease of 7.39% [6][8] - Shapuaisi turned a profit with a net profit of 21.86 million yuan, recovering from a loss in the previous year [7] - Yixin Hall reported a revenue of 8.914 billion yuan, down 4.20%, with a net profit of 250 million yuan, down 11.44% [9] - Changchun High-tech reported a revenue of 6.603 billion yuan, down 0.54%, with a net profit of 983 million yuan, down 42.85% [10] Corporate Actions - Maiwei Biotech has re-submitted its application for H-share listing on the Hong Kong Stock Exchange [11] - Olin Biotech plans to acquire a 15% stake in its subsidiary Xin Nuo Ming Biotech to enhance control and management efficiency [12] - Meinian Health signed a cooperation framework agreement with Guofu Quantum and Jingbeifang to explore digital asset business in the health sector [13] Industry Events - Hainan Lecheng signed cooperation agreements with 13 leading biopharmaceutical companies, with expected total investments of no less than 3 billion yuan [14] - Novo Nordisk has invested up to $5.5 billion in a partnership with Replicate Bioscience to develop new therapies for metabolic diseases [15]

Core Viewpoint - Shanghai Laishi's half-year report for 2025 indicates a decline in revenue and net profit, highlighting challenges in the blood products industry while emphasizing ongoing innovation and strategic growth initiatives. Financial Performance - In the first half of 2025, the company achieved operating revenue of 3.952 billion yuan, a year-on-year decrease of 7.06% [1] - The net profit attributable to shareholders was 1.03 billion yuan, with a non-recurring net profit of 1.04 billion yuan, both showing a decline of 7.84% year-on-year [1] Business Overview - Shanghai Laishi is a leading manufacturer of blood products in China, focusing on human serum albumin, immunoglobulins, and coagulation factor products [1] - The company has exclusive distribution rights for certain blood products in mainland China through its subsidiary Tonglu Medicine [1] Market Dynamics - The demand for blood products remains stable due to their clinical irreplaceability and strong correlation with demographic changes [2] - The market for coagulation factor products is growing rapidly, driven by policy guidance and clinical demand, although challenges from increased supply and regulatory impacts are noted [2] Innovation and R&D - The company is committed to enhancing its product structure and accelerating the development of high-value products, particularly in the fields of coagulation and immunoglobulin [2] - Shanghai Laishi's innovative research in hemophilia treatment, specifically the "SR604" injection, has entered phase IIb clinical trials, with an application for a new indication recently accepted by the National Medical Products Administration [2] Strategic Initiatives - The company has established a multi-dimensional R&D system focusing on independent innovation, patent introduction, and technology collaboration [3] - Recent acquisitions, including the successful purchase of Nanyue Biotechnology, have expanded the company's scale and coverage in plasma stations [3] - With Haier Group as the controlling shareholder, the company is enhancing its global development strategy through resource integration and market expansion [3]

Core Insights - Shanghai Laishi (002252) reported a net profit decline of 17% year-on-year for the first half of 2025, with total revenue of 3.952 billion yuan, down 7.06% from the previous year [1] - The company's gross margin decreased to 37.73%, a drop of 7.7%, while the net margin fell to 26.05%, down 10.73% [1] - Significant changes in financial metrics were noted, including a 43.4% increase in accounts receivable due to adjustments in sales credit policy [3] Financial Performance - Total revenue for the first half of 2025 was 3.952 billion yuan, down from 4.252 billion yuan in 2024, representing a 7.06% decrease [1] - Net profit attributable to shareholders was 1.03 billion yuan, down 17% from 1.241 billion yuan in 2024 [1] - The company's gross margin was reported at 37.73%, down from 40.88% in the previous year, while the net margin decreased to 26.05% from 29.19% [1] Cash Flow and Expenses - Operating cash flow per share increased significantly by 1656.46% to 0.11 yuan, compared to -0.01 yuan in the previous year [1] - Total selling, administrative, and financial expenses amounted to 292 million yuan, accounting for 7.4% of revenue, a decrease of 20.3% year-on-year [1] - The company experienced a 245.49% decrease in financial expenses due to improved foreign exchange management [4] Asset and Liability Changes - Accounts receivable increased by 111.12% to 2.006 billion yuan, attributed to changes in sales credit policy [3] - The company reported a significant increase in long-term borrowings due to new loans and the acquisition of Nanyue Biological [4] - Inventory increased by 9.78% due to the consolidation of Nanyue Biological's assets [3] Investment and Market Position - The company's return on invested capital (ROIC) was reported at 6.73%, indicating average capital returns [5] - The company has a history of stable financial performance, with only one loss year since its IPO in 2008 [5] - Major funds holding shares in Shanghai Laishi include E Fund's CSI 300 Pharmaceutical ETF, which has seen a 35.87% increase over the past year [6][7]

格隆汇8月29日丨上海莱士(002252.SZ)公布2025年半年度报告，上半年公司实现营业收入39.52亿元，同 比下降7.06%；归属于上市公司股东的净利润10.30亿元，同比下降17.00%；归属于上市公司股东的扣除 非经常性损益的净利润10.40亿元，同比下降7.84%；基本每股收益0.155元。 ...

Core Insights - Shanghai Laishi reported significant improvements in operating cash flow and a strong cash reserve of 3.489 billion yuan as of June 2025, indicating robust financial health and resilience [1] - The company achieved a revenue of 3.952 billion yuan and a net profit attributable to shareholders of 1.03 billion yuan in the first half of 2025, reflecting a solid performance in the blood products sector [1] - The company has expanded its production capabilities with six blood product manufacturing bases and 55 plasma collection stations across 11 provinces, leading to a nearly 12% increase in plasma collection volume year-on-year [1] Industry Developments - The market for coagulation factor products is rapidly growing, driven by policy guidance and clinical demand, with sales of human fibrinogen increasing by 29.70% and human coagulation factor VIII by 34.40% in the first half of 2025 [2] - Shanghai Laishi's innovative research in the field of hemophilia treatment has progressed, with the "SR604" injection entering phase IIb clinical trials, focusing on prevention treatment for bleeding episodes in patients with von Willebrand disease [2]

Core Viewpoint - Shanghai Raas has reported a decline in revenue and net profit for the first half of 2025, but has shown significant improvement in cash flow from operating activities, alongside growth in key product sales and strategic acquisitions [1][2]. Financial Performance - The company achieved operating revenue of 3.952 billion yuan, a year-on-year decrease of 7.06% [1] - The net profit attributable to shareholders was 1.03 billion yuan, down 17.00% year-on-year [1] - Operating cash flow improved significantly to 739 million yuan [1] Product Sales and Market Position - Sales volume of human fibrinogen increased by 29.70%, maintaining the company's leading market share [1] - Sales volume of human coagulation factor VIII rose by 34.40%, indicating enhanced market competitiveness and potential as a new growth driver [1] Resource Management and Expansion - The company increased plasma collection volume by nearly 12% in the first half of 2025, ensuring stable expansion of plasma supply [1] - The successful acquisition of Nanyue Biological in June 2025 has further enhanced the company's scale and coverage of plasma stations [1] - Strengthened plasma source management capabilities and scale advantages are established to meet future market demand and support new product launches [1] Innovation and R&D - The company is accelerating the development of high-value-added products and expanding the indications of existing products in the fields of coagulation and immunoglobulin [2] - The innovative research result "SR604" injection for hemophilia has entered Phase IIb clinical trials, with a recent application for clinical trials for the prevention of bleeding episodes in patients with von Willebrand disease accepted by the National Medical Products Administration [2] - The company aims to expedite the product launch to meet clinical needs [2] Business Overview - Shanghai Raas is primarily engaged in the production and sale of blood products, including human albumin, intravenous immunoglobulin, specific immunoglobulin, and coagulation factor products, making it one of the largest blood product manufacturers in China [2]

每经头条（nbdtoutiao）——近120个品牌、1600辆车逐鹿西南！下半年国内首个A级车展开幕：新能 源"第三极"将改写车市格局 每经AI快讯，上海莱士（SZ 002252，收盘价：6.88元）8月29日晚间发布公告称，公司第六届第十三次 董事会会议于2025年8月28日以现场结合通讯方式召开。会议审议了《2025年半年度报告全文及摘要》 等文件。 2024年1至12月份，上海莱士的营业收入构成为：血液制品生产及销售占比98.48%，检测设备及试剂占 比1.48%，其他业务占比0.03%。 截至发稿，上海莱士市值为457亿元。 （记者 胡玲） ...

上海莱士血液制品股份有限公司 2025 年上半年非经营性资金占用及其他关联资金往来情况汇总表 金额单位：万元 | 非经营性资金占用 | | 资金占用方名称 | 占用方与上市公司 | 上市公司核算的 | 2025年期初占 | 2025年上半年度占用 | 2025年上半年度占 | | 2025年上半年度 | | 2025年中期期末占 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 的关联关系 | 会计科目 | 用资金余额 | 累计发生金额(不含利 | 用资金的利息(如 | | 偿还累计发生金 | | 用资金余额 | | | | | | | | | | 息) | 有) | | 额 | | | | | | 主要股东及其附属企业 | 海盈康（青岛）医疗科技有限 公司 | | 主要股东 | ——— | - | | - | - | | - | - | ——— | ——— | | | 中信银行股份有限公司 | | 主要股东 | ——— | - | | ...

上海莱士血液制品股份有限公司 上海莱士血液制品股份有限公司 2025 年半年度财务报告 2025 年半年度财务报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：上海莱士血液制品股份有限公司 2025 年 6 月 30 日 披露日期：2025 年 08 月 30 日 上海莱士血液制品股份有限公司 2025 年半年度财务报告 一、审计报告 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 2,630,600,006.84 | 2,982,705,503.57 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | | | | 应收账款 | 2,005,520,798.69 | 1,398,534,714.31 | | 应收款项融资 | 403,259,398.68 | 411,824,830.44 | | 预付款项 | 61,188,549.05 | 31 ...

《2025年半年度报告》全文刊登于巨潮资讯网（www.cninfo.com.cn），《2025 年半年度报告摘要》同时刊登于《证券时报》、《中国证券报》、《上海证券报》、 《证券日报》和巨潮资讯网（www.cninfo.com.cn），供投资者查阅。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 上海莱士血液制品股份有限公司（"公司"）第六届董事会第十三次会议于 2025 年 8 月 18 日以电话和邮件方式发出会议通知，并于 2025 年 8 月 28 日下午 3 点以现场结合通讯方式召开。 本次会议应出席董事 9 名，实际出席董事 9 名。本次会议由公司董事长谭丽 霞女士召集和主持，公司监事、高级管理人员等列席会议。会议的召集、召开与 表决程序符合《公司法》和《公司章程》等有关规定。与会董事经过充分研究和 讨论，审议通过了如下议案： 1、《2025 年半年度报告全文及摘要》 表决结果：9票同意、0票反对、0票弃权。 证券代码：002252 证券简称：上海莱士 公告编号：2025-059 上海莱士血液制品股份有限公司 关于第六届董事会第十三次会议决议的公告 ...