Ge Long Hui A P P·2025-08-14 06:02Core Viewpoint - The report highlights the impressive performance of Ganli Pharmaceutical in the first half of 2025, with significant growth in both domestic and international markets, driven by strategic market share expansion and product innovation [1] Domestic Market Performance - The company successfully achieved its strategic goal of expanding market share through two rounds of insulin procurement, with a substantial 32.6% increase in agreement volume compared to the previous procurement [1] - Domestic sales revenue reached 1.845 billion yuan, representing a year-on-year growth of 55.28% in the first half of 2025 [1] International Market Performance - Ganli Pharmaceutical continued to deepen its global market expansion, with international sales revenue reaching 219 million yuan, a year-on-year increase of 74.68% in the first half of 2025 [1] - The company has established stable partnerships with key market leaders in emerging markets, leveraging customer trust to promote a diverse product portfolio and explore new growth opportunities [1] Research and Development Investment - The company increased its R&D investment, with a total of 552 million yuan in the first half of 2025, of which approximately 265 million yuan was capitalized, accounting for 26.70% of total revenue [1] - Key R&D projects in clinical stages include Bofang Glucagon-like Peptide Injection, GZR4 Injection, GZR101 Injection, and GZR102 Injection [1]