Sun-Novo(SH:688621) Zhong Zheng Wang·2025-08-28 15:16Core Viewpoint - Sunshine Nuohuo reported a revenue of 590 million yuan for the first half of 2025, marking a year-on-year growth of 4.87%, with significant improvement in net cash flow from operating activities at 84.1375 million yuan, indicating enhanced operational capability and innovation strength [1] Group 1: Financial Performance - The company achieved an operating income of 590 million yuan, reflecting a year-on-year increase of 4.87% [1] - The net cash flow from operating activities was 84.1375 million yuan, showing substantial improvement compared to the same period last year [1] Group 2: R&D and Innovation - R&D expenses reached 76.269 million yuan, up 10.39% year-on-year, focusing on core drivers of innovation [1] - Significant advancements were made in the fields of small nucleic acid drugs and peptide drugs, with key progress in self-developed core product pipelines [1] Group 3: Technological Developments - The company established a drug delivery system development platform for small nucleic acid drugs, addressing industry challenges such as stability, targeting, and bioavailability [1] - In collaboration with Huawei Cloud, the company developed an AI peptide molecular discovery platform, enhancing molecular discovery and optimization capabilities [1] Group 4: Product Pipeline Progress - The subsidiary Nuohuo Shengtai's "STC007 injection" has shown significant progress in Phase II clinical trials for moderate to severe pain post-abdominal surgery, with Phase III trials underway [2] - "STC008 injection" is in Phase I clinical trials, targeting cachexia in advanced solid tumors, with a large market potential and urgent clinical need [2] - The ZM001 injection, developed in collaboration with Yimiao Shenzhou, has received clinical approval and is entering Phase I trials for systemic lupus erythematosus, demonstrating rapid B-cell clearance and excellent safety [2]