“护城河”成空谈？核心产品走低亚宝药业上半年营收净利双降

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025 compared to the same period last year, indicating challenges in its product sales and overall financial performance [1][3]. Financial Performance - The company achieved an operating revenue of 1.139 billion, a decrease of 21.08% year-on-year [3]. - The net profit attributable to shareholders was 174 million, down 2.99% from the previous year [1][3]. - The total profit for the period was 212 million, showing a slight decrease of 0.18% compared to the same period last year [3]. - The net cash flow from operating activities was 327 million, reflecting a decline of 4.34% [3]. - The net assets attributable to shareholders at the end of the period were 2.799 billion, a decrease of 3.22% from the end of the previous year [3]. - Total assets were reported at 3.453 billion, down 2.55% from the previous year [3]. Product Performance - The decline in operating revenue was primarily attributed to reduced sales of key products such as the anti-inflammatory pain relief patch, Betahistine hydrochloride injection, and children's throat relief oral solution [1][4]. - The company operates in pediatric, chronic disease, and special medical fields, with its main products in pediatrics being the anti-inflammatory pain relief patch and children's throat relief oral solution, while Betahistine hydrochloride injection is a key product in the chronic disease sector [4].