近岸蛋白：上半年亏损2422万元，两个募投项目均延期

Core Viewpoint - The company reported a revenue of 72.09 million yuan for the first half of 2025, marking a year-on-year increase of 20.85%, driven by growth in cytokine product sales and expansion into overseas markets. However, it also experienced a net loss of 24.22 million yuan, which is a 172% increase in losses compared to the previous year, primarily due to high R&D expenditures and a reduction in government subsidies [1][1][1] Financial Performance - Revenue for the first half of 2025 reached 72.09 million yuan, reflecting a 20.85% year-on-year growth [1] - Net profit loss amounted to 24.22 million yuan, which is a 172% increase in losses compared to the same period last year [1] - R&D expenses were 26.10 million yuan, accounting for 36.21% of total revenue [1] - Operating cash flow was negative at -14.08 million yuan, influenced by reduced sales collections and a decrease in subsidies [1] Project Updates - The completion of the fundraising projects "Core Raw Materials for Diagnosis and Innovative Diagnostic Reagents Industrialization Project" and "R&D Center Construction Project" has been postponed from September 2025 to September 2026 [1] - The location for the R&D center has been changed from Jinshan, Shanghai to Pudong New District, and the implementing entity has shifted from the subsidiary Chuangji Medical to Nearshore Technology [1] - The company stated that the postponement does not alter the investment content or total amount, and the adjustments were made based on a principle of prudence [1] Share Buyback Plan - The company approved a share buyback plan in October 2024, allowing for the repurchase of shares worth between 10 million to 20 million yuan using its own funds [1] - As of July 31, 2025, the company has not yet initiated the stock buyback [1]