ZHBIO(SZ:300653) Zheng Quan Shi Bao Wang·2025-08-06 03:59Core Viewpoint - Zhenghai Biological's revenue and net profit declined in the first half of 2025, primarily due to a downturn in the oral sector and increased competition, leading to lower product prices [1] Group 1: Financial Performance - In the first half of 2025, Zhenghai Biological achieved revenue of 187 million yuan, a year-on-year decrease of 5.14%, and a net profit of 46.49 million yuan, down 45.97% year-on-year [1] - The decline in revenue was mainly attributed to a drop in the oral segment, with the implant market experiencing weak demand and intensified competition [1] Group 2: Product Sales and Market Strategy - The main revenue sources for Zhenghai Biological are oral repair membranes and meningeal series products, with the latter generating sales of 80.27 million yuan [1] - Despite challenges in the industry, Zhenghai Biological has maintained a strong market presence through precise marketing strategies and close cooperation with key terminals [1] Group 3: New Product Development - In the first half of 2025, Zhenghai Biological's new oral repair membrane product received certification, and calcium silicate bio-ceramic bone repair materials are in the registration phase [2] - The company is also working on the registration of uterine cavity repair membranes and data management for breast patches, which are expected to contribute to revenue in the next 2-3 years [2] Group 4: Product Impact and Market Dynamics - The company noted that while centralized procurement has led to a decrease in the selling price of meningeal products, it has also resulted in increased sales volume [4] - Zhenghai Biological's meningeal products were successfully selected in procurement projects led by various provincial alliances [4]