Chemexpress(SH:688131) Zheng Quan Zhi Xing·2025-08-29 17:25Core Viewpoint - Shanghai Haoyuan Chemexpress Co., Ltd. reported significant growth in revenue and net profit for the first half of 2025, driven by strong performance in its high-margin life science reagent business and effective cost management [1][5]. Financial Performance - Revenue for the first half of 2025 reached approximately 1.31 billion RMB, representing a 24.20% increase compared to the same period last year [5]. - Total profit increased by 130.95% to approximately 181.62 million RMB, while net profit attributable to shareholders rose by 115.55% to approximately 151.76 million RMB [5]. - The company's net assets at the end of the reporting period were approximately 3.02 billion RMB, a 5.05% increase from the end of the previous year [5]. Business Overview - The company focuses on providing professional and efficient small molecule, large molecule, and new molecular type drugs, with a comprehensive service platform covering drug research and production [6][7]. - Key business segments include life science reagents, raw materials, intermediates, and formulation development, with a strong emphasis on innovation and high-value products [6][7]. - The life science reagent business is positioned as a leader in the domestic market, particularly in the area of tool compounds, which are essential for drug discovery [7][8]. Industry Context - The global pharmaceutical R&D expenditure is projected to grow by 1.7% in 2024, reaching approximately 289 billion USD, with the life science reagent market expected to reach 66.82 billion USD by 2026, growing at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2026 [8][10]. - The Chinese life science reagent market has seen significant growth, increasing from approximately 25 billion RMB in 2018 to about 48 billion RMB in 2022, with a CAGR of around 18% [8]. - The market for molecular building blocks is anticipated to reach 54.6 billion USD by 2026, indicating a robust growth trajectory [9].