Group 1 - The company reported a revenue of 2.473 billion yuan for the fiscal year 2025, representing a year-on-year decrease of 8.33% [1] - The net profit attributable to the parent company was 251 million yuan, down 40.30% year-on-year [1] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 160 million yuan, a decrease of 57.67% year-on-year [1] Group 2 - The company's subsidiary, Shenzhen New Industry Ophthalmic New Technology Co., faced significant operational pressure due to the second phase of the national volume-based procurement for artificial lenses and intensified industry competition [2] - The total number of cataract surgeries in China in 2025 is expected to decline compared to 2024, leading to an overall market demand drop [2] - The increase in domestic competitors, particularly those offering significant cost advantages, has negatively impacted the sales price and volume of the imported Lenstec brand products [2] - The company anticipates a decrease in sales profit for Shenzhen New Industry in 2025 and has prudently recognized an impairment provision of approximately 140 million yuan for goodwill [2]

Core Viewpoint - The company, Haohai Biological Technology, reported a decline in revenue and net profit for the fiscal year 2025, indicating significant operational challenges in the artificial lens market due to increased competition and changing market dynamics [1][2]. Group 1: Financial Performance - Total revenue for 2025 was approximately 2.473 billion yuan, a year-on-year decrease of 8.33% [1] - Net profit attributable to the parent company was about 251 million yuan, down 40.3% year-on-year [1] - Net profit excluding non-recurring gains and losses was approximately 160 million yuan, reflecting a 57.67% decrease year-on-year [1] - Basic earnings per share stood at 1.08 yuan [1] Group 2: Market Conditions - The domestic cataract surgery volume in 2025 is expected to decline compared to 2024, leading to an overall market demand drop [2] - Increased competition in the market, particularly from domestic lens products that offer significant cost and price advantages over imported brands, is putting pressure on sales [2] - Sales prices and volumes of the Lenstec brand artificial lenses are experiencing a continuous downward trend in 2025 [2] Group 3: Impairment Provisions - The company has made a prudent decision to recognize an impairment provision of approximately 140 million yuan for goodwill related to its subsidiary Shenzhen New Industry due to underperformance [2] - The impairment amount is subject to final assessment and audit by qualified evaluation and auditing institutions [2] - Additionally, the company recognized an impairment provision of about 24.98 million yuan for intangible assets related to its U.S. subsidiary Aaren Scientific Inc. due to signs of impairment [3]

Core Viewpoint - The company, Haohai Biological Technology, reported a significant decline in its financial performance for the fiscal year 2025, with total revenue and net profit both decreasing substantially compared to the previous year [1][2]. Financial Performance - Total revenue for 2025 was approximately 2.473 billion yuan, representing a year-on-year decrease of 8.33% [1]. - Net profit attributable to the parent company was around 251 million yuan, down 40.3% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was about 160 million yuan, reflecting a 57.67% decrease compared to the previous year [1]. - Basic earnings per share were reported at 1.08 yuan [1]. Market Conditions - The company faced significant operational pressure in its subsidiary, Shenzhen New Industry, due to the second phase of the national volume-based procurement for artificial lenses, leading to increased competition and a decline in market demand [2]. - The total number of cataract surgeries in China in 2025 is expected to decrease compared to 2024, contributing to a downturn in overall market demand [2]. - The sales price and volume of Lenstec brand products continued to decline throughout 2025, impacting the expected operating profit of Shenzhen New Industry [2]. Impairment Provisions - The company has made a prudent decision to recognize an impairment provision of approximately 140 million yuan for the goodwill associated with Shenzhen New Industry, in light of the anticipated price reductions in the upcoming round of national volume-based procurement [2]. - The impairment amount is subject to final assessment and audit by qualified evaluation and auditing institutions [2]. - Additionally, the company's U.S. subsidiary, Aaren Scientific Inc., has also indicated signs of impairment for its intangible assets, leading to a preliminary impairment provision of about 24.98 million yuan [3].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Shanghai Haohai Biological Technology Co., Ltd.* 上海昊海生物科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6826） 2025年度業績快報公告 上海昊海生物科技股份有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 《證券及期貨條例》（香港法例第571章）第XIVA部及《香港聯合交易所有限公司證 券上市規則》第13.09及13.10B條的要求發佈本公告，旨在向本公司股東及公眾人 士提供本公司的財務資料。本公告亦同時在上海證券交易所網站發佈。 本公告所載本集團按照中國企業會計準則編製的截至2025年12月31日止年度（「報 告期」）主要財務數據為初步核算未經核數師審計的數據。本集團報告期的具體財 務數據及經營業績將以本公司截至2025年12月31日止年度經審核之業績公告及本 公司2025年度報告所披露者為準。提請本公司潛在 ...

Summary of 康哲药业 Conference Call Company Overview - 康哲药业 is undergoing a strategic transformation from original research drugs to innovative drugs, driven by both collaborative development and independent research. The company has received approval for 5 innovative drugs covering 6 indications and is actively expanding internationally, including a secondary listing in Singapore without involving financing or equity dilution [2][4]. Key Business Segments - The company operates four main business segments: - Cardiovascular and Digestive Health: Stabilized after the impact of the National Volume-Based Procurement (VBP) - Ophthalmology: Strong profitability - Skin Health: 德美医药 is set for a spin-off listing - International Business: Focused on Southeast Asia, expected to contribute to future growth [2][5]. Financial Performance - The core products' revenue has declined due to VBP, with projected revenue of 2.6 billion yuan for three core products in 2024. However, the impact of centralized procurement is expected to be cleared, leading to a phase of rapid growth as innovative drugs are approved [2][7]. - The company’s key product portfolio includes: - Existing national procurement products (波依定, 黛力新, 优思弗) expected to contribute 2.6 billion yuan in 2024 - Exclusive and brand drugs anticipated to maintain around 10% growth [8]. Innovative Product Pipeline - 康哲药业 has nearly 20 self-researched projects, with 5-6 in clinical development. Key upcoming products include: - Y3 injection for stroke treatment, expected to exceed 3 billion yuan in sales - ABP671 for hyperuricemia, with NDA submission expected in mid-2025 - 德西度司他片 for chronic kidney disease anemia, expected to be approved this year [3][10][12][13]. Impact of VBP - The company faced significant impacts from VBP, with core products previously accounting for over 50% of sales. The sales retention rate post-VBP was around 50% [6][7]. Spin-off of 德美医药 - The spin-off of 德美医药 is expected to be completed by the end of 2025, which will not significantly affect 康哲药业's overall financial status but will help improve its valuation. 康哲 will distribute 90.8% of 德美 shares to shareholders [3][15]. Market Expansion and Internationalization - 康哲药业 is expanding into Southeast Asia, establishing a regional headquarters in Singapore and planning a secondary listing. This move aims to explore new growth avenues without limiting business development [20][21]. R&D and Sales Expenses - In 2025, 康哲's R&D and sales expenses are expected to rise due to high costs associated with marketing and brand building for newly launched innovative drugs. Profit growth is anticipated to lag behind revenue growth this year, but significant profit increases are expected starting in 2026 as 德美 is no longer consolidated [22][23]. Conclusion - 康哲药业 is positioned for growth through its innovative drug pipeline and international expansion, despite facing challenges from VBP. The upcoming spin-off of 德美医药 and the focus on Southeast Asian markets are strategic moves to enhance overall company valuation and market presence.