研报掘金丨华源证券：维持方盛制药“买入”评级，创新驱动经营业绩持续增长

Core Insights - The report from Huayuan Securities indicates that Fangsheng Pharmaceutical achieved a net profit attributable to shareholders of 169 million yuan in the first half of the year, representing a year-on-year growth of 23.67% [1] - In the second quarter, the net profit attributable to shareholders was 81 million yuan, with a year-on-year increase of 21.50% [1] - The performance in the first half of 2025 met expectations, with a continued focus on the pharmaceutical manufacturing core business [1] Financial Performance - The net profit for the first half of 2025 was 169 million yuan, showing a growth of 23.67% compared to the previous year [1] - The second quarter's net profit was 81 million yuan, reflecting a year-on-year growth of 21.50% [1] Business Focus - The company continues to concentrate on its core pharmaceutical manufacturing operations [1]