圣湘生物(688289.SH)：2025年度净利润1.98亿元

Core Viewpoint - The company, Shengxiang Biotechnology (688289.SH), reported a revenue of 1.648 billion yuan for the year 2025, reflecting a year-on-year growth of 13.04% despite facing intense market competition and challenges from medical procurement cost control [1] Group 1: Financial Performance - The total profit for the year was 175 million yuan, with a net profit attributable to shareholders of 198 million yuan [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 165 million yuan, representing a year-on-year decline of 18.64% [1] Group 2: Industry Context - The in vitro diagnostic industry faced a significant increase in the value-added tax rate for self-testing reagent products, rising from 3% to 13%, which, along with the gradual implementation of national procurement policies, put pressure on product prices [1] - The company is focusing on long-term development by increasing investment in research and innovation and advancing strategic mergers and acquisitions, which has temporarily diluted profits [1]