阳光诺和前三季度净利1.63亿元，同比下降21.38%

Core Viewpoint - 阳光诺和's revenue and net profit have declined in the first three quarters of 2025, primarily due to the impact of policy changes on its generic drug business [1] Financial Performance - The company reported a revenue of 856 million yuan, representing a year-on-year decrease of 6.65% [1] - The net profit attributable to the company was 163 million yuan, down 21.38% year-on-year [1] Business Impact - The decline in revenue is attributed to the effects of centralized procurement and the MAH (Marketing Authorization Holder) system [1] - Increased cost rates and new equity incentive expenses during the reporting period contributed to the decrease in net profit [1]