ZHBIO(SZ:300653) Jin Rong Jie·2025-08-15 19:58Core Viewpoint - Zhenghai Biological's stock price has shown a slight increase, but the company is facing significant challenges with declining revenue and profits due to reliance on core products and slow progress in new product development [1] Company Overview - Zhenghai Biological specializes in the research, production, and sales of bio-regenerative materials, including oral repair membranes and absorbable dura (spinal) membranes, positioning itself as one of the early entrants in the regenerative medicine field within the Class III implantable medical device sector [1] Financial Performance - For the first half of 2025, the company reported a revenue decline of 5.14% to 187 million yuan, with a net profit attributable to shareholders of 46.49 million yuan, down 45.97% year-on-year [1] - The decline in performance is primarily attributed to a 19.38% drop in revenue from oral repair membranes, a 38.87% increase in sales expenses, and adjustments in tax rates [1] Product Dependency and Development - The company's core products remain heavily dependent on oral repair membranes and dura patches, while new products such as active biological bone have not yet achieved significant sales volume, and the progress of the research pipeline is slow [1] Market Activity - On August 15, 2025, the net outflow of main funds for Zhenghai Biological was 855,500 yuan, while the cumulative net inflow over the past five days was 9.20 million yuan [1]