海正药业上半年净利下滑31.29%，原料药业务积极开拓南美、中东等新市场

Group 1 - The company reported a slight revenue increase of 0.13% to 5.25 billion yuan in the first half of 2025, while net profit attributable to shareholders decreased by 31.29% to 299 million yuan [1] - Key products showed strong growth in both hospital and non-hospital channels, with over 200 new county-level coverage and more than 800 hospital admissions, accelerating penetration in grassroots markets [1] - The company is advancing its e-commerce platform construction, with C-end conversion and brand momentum contributing to a steady increase in single product market share [1] Group 2 - The company achieved a 100% winning rate in national centralized procurement and a 90% winning rate in provincial volume-based procurement [1] - The company has successfully transitioned its agency business from general agents to provincial agents, enhancing sales scale and profit contribution through academic training for agents [1] - The animal health segment achieved record sales, with the launch of three new products, including the cat trivalent vaccine, and a year-on-year growth of over 60% in pet e-commerce business, with sales exceeding 100 million yuan [1] Group 3 - The company is actively developing international markets outside the United States, with its first introduced product achieving a 21% market share in the U.S. market in the second quarter [1] - The animal health product "Hailiwang" has been approved for the Vietnamese market, and the first shipment has been completed [1] - The active pharmaceutical ingredient business is expanding into new markets in South America, CIS, and the Middle East, with sufficient CMO project reserves through precise demand matching at global exhibitions [1] Group 4 - The company focuses on core treatment areas such as cardiovascular and metabolic diseases, establishing a global patent barrier innovation pipeline [2] - The self-developed Class 1 small molecule innovative drug HS387 has received clinical implied approval from NMPA and has officially entered the clinical development stage [2] - The company is accelerating the introduction of clinical-stage pipelines to enrich its product lineup and cover more unmet clinical needs [2]