Core Insights - The company reported a revenue of RMB 621 million for the six months ending June 30, 2025, representing a year-on-year growth of 51.3% [1] - Shareholder profit reached RMB 47.99 million, marking a turnaround from loss to profit, with earnings per share at RMB 0.12 [1] Group 1: Business Performance - The preclinical products and services segment, centered on innovative animal model sales, generated RMB 458 million in revenue, a 56.9% increase compared to the same period last year, with a gross margin of approximately 70% [1] - The antibody discovery business achieved RMB 163 million in revenue, a 37.8% increase year-on-year, with a gross margin of around 90% [2] - The company signed approximately 280 agreements for therapeutic antibodies and various clinical asset collaborations, with 80 new contracts signed in the first half of 2025, a 60% increase year-on-year [2] Group 2: Market Expansion - The company expanded its overseas market presence, achieving RMB 422 million in revenue from international operations, while domestic business also saw rapid growth with RMB 200 million in revenue [2] - The global network established by the company enhances its resilience and risk management capabilities, allowing for steady growth through market cycles [2] Group 3: Research and Development - The company maintained a high level of R&D investment, with R&D expenses amounting to RMB 209 million, an increase of RMB 47.74 million year-on-year, resulting in an R&D expense ratio exceeding 30% [3] - The company implemented lean management practices, leading to a continuous decline in management expense ratios, with significant results from cost-saving measures initiated in 2023 [3]