Core Insights - The company reported a revenue of approximately RMB 15.761 billion for the first half of 2025, representing a year-on-year growth of 15.9% [1] - Net profit attributable to shareholders reached RMB 4.45 billion, marking a 29.7% increase compared to the same period last year [1] - Basic earnings per share were RMB 0.70 [1] Revenue and Profit Growth - The growth in revenue and profit was primarily driven by increased sales and licensing income from innovative drugs [1] - Sales and licensing income from innovative drugs amounted to RMB 9.561 billion, a 26.8% increase year-on-year, accounting for 60.7% of total revenue [1] - Innovative drug sales revenue was RMB 7.57 billion [1] Innovative Drug Performance - Key innovative drugs such as Rivoceranib, Darsylin, and Henggrelin have effectively addressed unmet clinical needs, gaining recognition from doctors and patients, leading to sustained revenue growth [1] - Earlier launched innovative drugs like Arixtra, Remimazolam, Pyrotinib, and Fluorouracil have expanded their application scope due to accumulating clinical evidence and new indications, contributing to sales growth [1] - Other innovative products like Apatinib, Sulfapyridine, and Hecolin also experienced growth during the reporting period [1] Future Growth Potential - Some innovative products have not yet fully realized their sales potential due to their recent market entry and lack of inclusion in medical insurance [1] - The company aims to promote the widespread use of new products and accelerate the commercialization of high-quality innovative products to drive stronger future growth [1] Licensing Income - Licensing income from external partnerships has become a significant component of the company's revenue, with the company receiving USD 200 million from Merck Sharp & Dohme and USD 75 million from IDEAYA Biosciences during the reporting period [2] - This licensing income has further contributed to the growth of operational performance metrics [2] Generic Drug Performance - Although sales revenue from generic drugs included in centralized procurement saw a slight decline, high-quality generic products like Liposomal Bupivacaine and the first approved generic product of Albumin-bound Paclitaxel in the U.S. achieved rapid sales growth [2] - Overall, the generic drug business revenue experienced a slight increase due to these factors [2]