瑞普生物：公司综合毛利率提升主要得益于收入规模扩张与产品结构优化等

Core Insights - The company reported an increase in comprehensive gross margin driven by two main factors: revenue scale expansion and product structure optimization [1] - Strategic partnerships with leading breeding groups have allowed the company to enhance market share through brand strength, product quality, and R&D capabilities [1] - The pet segment's revenue has significantly increased due to the establishment of a nationwide pet medical supply chain service system [1] Revenue and Product Structure - The sales proportion of high-margin biological products reached 44.93%, an increase of 4.16 percentage points year-on-year [1] - The contribution of biological products to comprehensive gross margin rose from 26.08% to 28.44%, an increase of 2.36 percentage points [1] - The continuous improvement in the sales proportion and gross margin contribution of veterinary biological products has been a key driver of substantial performance growth [1] Cost Optimization - The company has implemented a "value-driven core" full-chain closed-loop operation management system [1] - Lean cost reduction and value innovation have redefined the profit model, leading to improved production efficiency and reduced operational costs [1]