Core Insights - The company has established a systematic layout in new molecular fields such as ADC, TPD, and TIDES, covering early-stage research to process development and production capabilities [1] - Although the current revenue contribution from new molecular business is less than 10%, the order growth rate exceeds 100% [1] - The peptide GMP pilot workshop located in Zhejiang Huishi is accelerating construction and is expected to be operational in the first quarter of 2026 [1] - The high-activity workshop has already undertaken multiple ADC projects with plans for subsequent capacity expansion [1] - Future capital expenditures will focus on expanding new molecular production capacity, integrating low-carbon chemistry with digital intelligence, and overseas research and development layout [1]