Zheng Quan Zhi Xing·2025-08-20 23:08Core Viewpoint - Nocera Biopharma (688428) reported a significant increase in revenue and a reduction in net loss for the first half of 2025, indicating improved operational performance and profitability metrics [1]. Financial Performance - Total revenue for the first half of 2025 reached 731 million yuan, a year-on-year increase of 74.26% compared to 420 million yuan in the same period of 2024 [1]. - The net loss attributable to shareholders was 30.09 million yuan, which is an improvement of 88.51% from a loss of 26.2 million yuan in the previous year [1]. - The gross margin increased to 89.51%, up 4.48% year-on-year, while the net margin improved to -4.87%, a significant increase of 92.37% [1]. - Total expenses (selling, administrative, and financial) amounted to 282 million yuan, accounting for 38.5% of revenue, a decrease of 15.49% year-on-year [1]. Cash Flow and Assets - Operating cash flow per share improved to -0.04 yuan, an increase of 78.12% year-on-year [1]. - The company’s cash and cash equivalents showed a slight increase of 0.47% to 6.981 billion yuan [3]. - Accounts receivable rose by 39.76% to 392 million yuan, attributed to increased sales of the drug Aobutini [3]. Investment and R&D - The company is focusing on strategic collaborations, including a partnership with West Lake University for innovative drug development [19]. - Nocera Biopharma is integrating AI technology into drug discovery and clinical development processes to enhance operational efficiency [19][20]. Market Position and Fund Holdings - The largest fund holding Nocera Biopharma shares is the Fortune Precision Medical Mixed A fund, which holds 12.58 million shares [18]. - The company has seen a mixed response from funds, with some increasing their holdings while others have reduced their positions [18].