Sinocare(SZ:300298) Ge Long Hui A P P·2025-09-08 07:36Core Viewpoint - Sanor Bio's net profit attributable to shareholders for the first half of 2025 is projected to be 181 million yuan, reflecting a year-on-year decline of 8.52% [1] - The second quarter of 2025 shows a net profit of 109 million yuan, down 6.87% year-on-year, indicating a significant improvement in revenue but a decline in gross margin [1] Revenue and Profit Analysis - The revenue in Q2 2025 improved significantly, but multiple factors led to a decline in gross margin, resulting in profit growth lagging behind revenue growth [1] International Expansion - The company is continuously advancing its localization strategy overseas, establishing subsidiaries and local sales teams in key countries/regions [1] - Sanor Bio has set up subsidiaries in countries such as Vietnam, the Philippines, Indonesia, India, Bangladesh, and Thailand, enhancing its global service capabilities [1] - The company has established overseas warehouses in 18 countries, including Europe, North America, and Southeast Asia, achieving logistics localization [1] Market Development - The company is making progress in the CGM (Continuous Glucose Monitoring) overseas market, with successful collaboration with Menarini in Europe, indicating potential for increased CGM volume [1] - Through partnerships with overseas subsidiaries PTS and Trividia, the company is exploring the European and American markets and expanding its business in Mexico and Africa through bidding and other methods [1] - The global marketing network now covers 187 countries and regions, suggesting a promising future for overseas markets [1]