Core Viewpoint - The company reported a significant reduction in losses for the first half of 2025, with a loss of RMB 113.9 million compared to RMB 210.9 million in the same period of 2024, indicating improved financial performance [1] Group 1: Financial Performance - The company recorded a loss of RMB 113.9 million in the first half of 2025, a substantial decrease from the loss of RMB 210.9 million in the first half of 2024 [1] Group 2: Product Pipeline and Innovation - The company is focusing on the potential of its core product HTD1801, which is being developed globally for treating chronic kidney and metabolic diseases, including Type 2 diabetes, metabolic-associated fatty liver disease, chronic kidney disease, obesity, primary sclerosing cholangitis, and severe hypertriglyceridemia [1] - HTD1801 is a novel molecular entity targeting the gut-liver system, acting as an oral anti-inflammatory and metabolic modulator through a dual mechanism of activating AMPK and inhibiting the NLRP3 inflammasome [2] - The company has developed a strong pipeline of innovative drug candidates, including HTD4010, HTF1037, HTF1057, HTD1804, HTD1805, and HTD2802, targeting ten potential indications [1][2] Group 3: Market Opportunity and Demand - The treatment market for chronic kidney and metabolic diseases (CKM) is substantial, affecting nearly 90% of adults in the U.S. and 80% in China, with approximately 590 million diabetes patients globally, indicating a significant unmet need for innovative therapies [3] - HTD1801's dual mechanism shows exceptional therapeutic potential in addressing CKM-related diseases, with clinical studies confirming its multiple benefits in metabolism, kidney function, obesity, and cardiovascular complications [3] Group 4: Intellectual Property and Commercialization Strategy - The company maintains a robust intellectual property portfolio with over 100 patents and applications globally, providing effective market access barriers and supporting its commercialization goals [4] - As HTD1801 approaches commercialization in 2025, the company aims to capitalize on market opportunities and expand its market presence [4]