泽璟制药：2025年上半年亏损7280.35万元

Financial Performance - The company reported total operating revenue of approximately 375.65 million, a significant increase from 240.70 million in the same period last year, reflecting a year-on-year growth [3] - The total profit for the period was -77.41 million, slightly improved from -79.49 million year-on-year [3] - The net profit attributable to shareholders was -72.80 million, compared to -66.54 million in the previous year [3] - The net profit after deducting non-recurring gains and losses was -102.64 million, worsening from -72.37 million year-on-year [3] - The net cash flow from operating activities was -17.02 million, a decrease from a positive cash flow of 112.55 million in the same period last year [3] Non-Recurring Gains and Losses - The total non-recurring gains and losses amounted to 29.84 million, with government subsidies contributing 22.82 million and other non-recurring items accounting for 10.24 million, while the tax impact was -3.30 million [1] Shareholder Structure - The top ten shareholders at the end of the first half of 2025 included new entrants such as Huatai Fuhua Innovation Medical Theme Mixed Securities Investment Fund and Ningbo Jingchen Investment Partnership, replacing previous shareholders [52] - The shareholding ratio of China Europe Medical Health Mixed Securities Investment Fund increased, while other funds saw a decrease in their holdings [52] Financial Ratios - As of the end of the first half of 2025, the company's current ratio was 1.9 and the quick ratio was 1.78, indicating a stable liquidity position [48] - The company’s price-to-earnings ratio (TTM) was approximately -200.42, with a price-to-book ratio of about 24.54 and a price-to-sales ratio of approximately 43.24 [3] Asset and Liability Changes - As of mid-2025, cash and cash equivalents decreased by 1.68%, while accounts receivable increased by 22.12% [41] - Long-term borrowings increased by 183.42%, while other payables decreased by 57.26% [44]