年内股价涨三倍的塞力医疗，半年报再度亏损

Group 1 - The company reported a credit impairment loss of 14.0029 million yuan, contributing to its financial struggles despite a stock price increase of 304.4% year-to-date, ranking among the top six in the A-share pharmaceutical and biotechnology sector [1] - For the first half of the year, the company achieved operating revenue of 584 million yuan, a year-on-year decline of 40.2%, and a net profit loss attributable to shareholders of 56.1192 million yuan, worsening from a loss of 4.7725 million yuan in the same period last year [1] - The company's financial performance is impacted by declining revenue, increased strategic R&D investments, and a significant portion of accounts receivable turning into bad debts [1] Group 2 - Originally a distributor of in vitro diagnostic products, the company shifted towards integrated marketing and service business (IVD business) post-2016, focusing on long-term contracts with medical institutions for diagnostic instruments and consumables [2] - The business model evolved to include centralized operation services for medical consumables (SPD business), expanding from diagnostic products to overall supply of medical consumables, aiming to help medical institutions reduce costs and improve efficiency [2] - This expansion into centralized services has led to financial pressures, requiring the company to manage upstream supplier pre-purchase investments and downstream medical institution payment terms [2] Group 3 - The company's clients are primarily hospitals, which have long accounts receivable collection periods that negatively affect profitability [3] - As of June 30, the company's accounts receivable stood at 891 million yuan, accounting for 40.56% of total assets, with an overall asset-liability ratio of 61.42% [3] - The company plans to enhance the management of accounts receivable, intensify collection efforts, and reduce potential bad debt risks while optimizing resource allocation by selling stakes in some subsidiaries to focus on core business areas [3]