Core Insights - The company, Jiuzhoutong, reported strong performance across all business segments in the first half of 2025, with significant growth in sales and revenue [1] Business Segment Performance - The core pharmaceutical distribution business achieved sales revenue of 67.634 billion yuan, representing a year-on-year growth of 6.04% [1] - The pharmaceutical manufacturing segment, including self-produced and OEM products, generated sales revenue of 1.593 billion yuan, with a year-on-year increase of 10.77% [1] - The new retail pharmaceutical business recorded sales revenue of 1.493 billion yuan, with a notable growth in franchise stores reaching 31,535, and sales to franchise stores amounting to 3.418 billion yuan, up 41.30% year-on-year [1] - The digital logistics and supply chain solutions segment achieved business revenue of 587 million yuan, reflecting a year-on-year growth of 24.66% [1] Additional Business Developments - The company’s brand promotion business (CSO) focused on introducing new products and increasing sales of existing products, reaching a sales scale of 9.591 billion yuan in the first half of the year [1] - The B2B e-commerce platform, Yaojiu Jiu, and retail e-commerce services for outpatient digital distribution experienced rapid growth, with revenue of 10.636 billion yuan, marking a year-on-year increase of 21.08% [1]