昭衍新药2025年净利2.98亿元，同比增长302.08%

Core Viewpoint - Zhaoyan New Drug (603127) reported a decline in revenue for 2025, while net profit saw a significant increase, indicating a mixed performance driven by competitive pressures in the laboratory services sector [1] Financial Performance - The company achieved an operating income of 1.658 billion yuan in 2025, a year-on-year decrease of 17.87% [1] - The net profit attributable to shareholders was 298 million yuan, reflecting a year-on-year increase of 302.08% [1] Business Segment Analysis - The laboratory services and other businesses contributed a net loss of 164.22 million yuan, a year-on-year decline of 219.61%, primarily due to the lagging effects of intense industry competition, which led to a decrease in revenue and gross margin [1] - The fair value changes of biological assets resulted in a net gain of 475.70 million yuan during the reporting period [1]